Market Scope
Market Research Future (MRFR) projects the medical adhesives market to be worth USD 16.84 billion by 2027. Meanwhile, its expansion rate is expected to be more than 8.08% during the review period (between 2020 and 2027).
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Key Boosters and Barriers
Medical adhesives are known for their high biocompatibility, non-irritating, non-cytotoxic and non-sensitizing properties, which have boosted their use in a variety of medical devices. Moreover, silicone adhesives have hydrophobic characteristics, which make it perfect for use in devices that are used in water sports, including diving and swimming. The vast range of benefits and features of silicone medical adhesives have resulted in their enhanced popularity worldwide and could mean substantial market growth in the years ahead.
Medical devices are experiencing robust demand across the globe, thanks to the mounting awareness level among people about health & wellness. Strong impact of progressive wellness on rising number of consumers related to fitness as well as a healthy lifestyle has led to higher demand for wearable medical devices. These devices require medical adhesives that have impressive binding properties, which act as a barrier against moisture and oxygen. These factors are bound to create favorable growth avenues for the global industry in subsequent years. boosted the growth of the global medical adhesives market.
The market growth is also facilitated by the rising preference for modified polyurethane and epoxies adhesives, coupled with the surging use of methyl methacrylate adhesives in medical devices. Mounting penetration of advanced composites, rampant demand for green, sustainable, and non-hazardous medical adhesives, will also ensure solid market growth in the following years. Other encouraging factors include rising burden of chronic diseases, like cardiovascular ailments and diabetes, which boost the use of wearable smart medical devices to collect information based on breathing patterns, blood glucose levels and blood pressure.
Segmental Review
The medical adhesives industry can be considered for resin, technology, and application.
The resins discussed in the MRFR report are synthetic & semi-synthetic as well as natural. The synthetic & semi-synthetic-based resins are in the lead in the global industry.
The technology-based segments are Solid & Hot Melt, Solvent-Based and Water-Based.
Applications of medical adhesives are tissue bonding, implant, medical device & equipment, wound closure, tapes, dental, and more. The medical device & equipment segment is the fastest-growing application segment of the global medical adhesives market.
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Regional Insight
Medical adhesive market has been regionally split into Asia Pacific or APAC, Europe, MEA or Middle East & Africa and North America.
North America, with the highest share of more than 25%, is the top market for medical adhesive and is likely to remain in the lead throughout the conjectured timeline. Strong presence of renowned pharmaceutical firms along with the significant investments in the development and innovations of medical devices also foster the sales of medical adhesives in the region. High awareness levels among patients about wound infections and various diseases along with the mushrooming elderly population, particularly in the US, foster the growth avenues as well. The companies in the region are largely focused on developing sophisticated wound dressings instead of conventional staple and suture techniques, which should be a favorable trend in the coming years.
Europe is one of the strongest markets across the globe, on account of the accelerated cases of chronic disorders, especially along the burgeoning geriatric populace. This has also fostered the need for advanced medical devices with strong adhesives. Surge in medical spending in the region should be favorable for the medical adhesives industry in the next few years.
The Asia Pacific market for medical adhesive may progress at the fastest pace between 2020 and 2027, owing to the exploding population that requires better healthcare facilities. Medical adhesive also notes significant demand in the region due to the mounting healthcare expenditure and the soaring number of ambulatory surgical centers, especially in China and Singapore.
Major Vendors
Some of the major firms in the global market for medical adhesives include Dow (US), Johnson & Johnson (US), 3M (US), Arkema Group (France), H.B. Fuller (US), Avery Dennison Corporation (US), Ashland Inc. (US), Chemence (UK), Cohera Medical, Inc. (US) and Henkel AG & Company. These companies are stiving to expand their medical adhesive manufacturing capacity to cater to the surging demand from the healthcare industry.
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Latest Updates
January 2021
Adhezion Biomedical LLC confirms that its SecurePortIV, a tissue adhesive, has been recognized by the 2021 Infusion Therapy Standards of Practice (INS Standards) as a primary care for vascular access devices care and management. It is the first ever tissue adhesive that has been cleared by the FDA for this indication. This medical adhesive has a host of benefits, including securing and stabilizing VADs to bring down chances of device failure and dislodgement, and sealing of the insertion point to curb microorganism growth and many more.
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