Medical Adhesives Market Share | Impact of Covid 19 on Industry Share, CAGR and Forecasts to 2027
Market Overview:
The Medical Adhesive Share is a gluey chemical substance used in the
medical devices, equipment, and other components to serve the purpose of
adhesion. The medical adhesive possess some important properties such as greater
bonding and permeability to gas and moisture in order to heal the wound. The
protuberant factors driving growth of the market include rising ageing
population, increasing prevalence of diseases and growing healthcare needs. In
addition to this, significantly rising healthcare spending by the emerging
economies along with growing national level sentiments to provide quality,
efficient and affordable healthcare services is projected to add into the
growth factors of the market. The Global Medical Device Market, which is a
major consumer of the Medical Adhesives, is growing considerable CAGR of 5% to
reach three digit billion dollar figure by the end of this review period.
Market Segmentation:
The Global Medical Adhesive Market
Share is segmented on the basis of resin type, technology,
application, and region. On the basis of resin type, the market is divided into
natural and synthetic. The natural Medical Adhesives includes collagen and
fibrin, wherein collagen is gaining popularity among the bio-based medical
adhesive manufactures due to its easy availability and efficient bonding
nature. On the other hand, the synthetic Medical Adhesives consists of acrylic,
epoxy, silicone, polyurethane, and cyanoacrylates.
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Based on Technology the market is segmented into water
based, hot metal based, and solvent based. Among these technologies,
water-based technology is growing at the highest CAGR on account of its
distinct properties such as low VOC content, and lower cost as compared to
other technologies. Moreover, the water based medical adhesives can withstand a
wide temperature range to propel the demand for the product in the coming
years.
On the Basis of Application, the Global Medical Adhesive Market
is market is divided into dental, medical device & equipment, tissue
bonding, wound closure, fixation tape, and others. The use of medical adhesive
is holding substantial share of the market in dental applications for
restorative and for dental appliance fabrication, which are by dental
practitioners in small unit dose dispensers and, due to the widespread use of
fluoride treatments for recent generations.
Regional Analysis:
Regionally, the Global Medical Adhesive Market Share is
segmented into five key regions: Asia Pacific, Europe, North America, the
Middle East & Africa, and Latin America. Among these regions, Asia Pacific
is growing at the highest CAGR, and holding more than 30% share of the global
medical adhesive market. The growth of the market in this region is mainly
driven by the steady rise in government spending on healthcare sector mingled
with updating healthcare infrastructure. North America is the second most
substantial medical adhesive market across the globe, wherein growth of the
market is primarily favored by the increasing demand of portable medical
devices and well-established manufacturer base, along with continuous
innovation in medical sector. Europe is another important region in the global
medical adhesive market after North America. This is attributed to the
stringent regulatory measure undertaken by the government agencies such as
Child Resistive Packaging (CRP), which mandates the drug manufactures to pack
the products in resistive package. Other regions in the global medical adhesive
market are the Middle East & Africa and Latin America. Among them, the
market for medical adhesive in Latin America is estimated to grow at a
considerable CAGR owing to pacifying economic and political scenario. The
Middle East & Africa hold a least share of the global medical adhesive
market, which is expected to witness a significant changes in coming years.
Competitive Analysis:
Key players operating in the Global Medical Adhesive Market are
Ethicon US, LLC (U.S.), Covidien plc (Ireland), B. Braun Melsungen AG
(Germany), Henkel AG & Co. KGaA (Germany), Gem srl (Italy), GluStitch
(Canada), Cohera Medical, Inc. (The Netherlands), Chemence (U.K), Baxter
(U.S.), and Adhezion Biomedical, LLC (U.S.), among others.
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