The Global Medical Adhesives Market was worth US$ 9.7 billion in 2019 and is expected to grow at a CAGR of 8.2%. Quicker working velocity related with the usage of medical adhesives over their traditional counterparts such as is anticipated to drive the market development in future.
The companies are introducing cost-effecting while maintaining efficiency, with easy handling and low maintenance solutions intended to gain competitive edge in the highly competitive market. With rapid technological advancements, companies are developing bio-compatible and environment friendly adhesives for surgical applications. Currently, medical adhesives have a wide range of applications ranging from medical device assembly and external & internal medical applications. For example, closing of skin wounds through traditional methods is currently being supplanted by uncommon cyanoacrylates.
The preferred position offered by these items is that the entire injury can be covered quickly. This technique stifles the optional bleeding and accordingly decreases the risk of infection. As indicated by the World Health Organization, the worldwide populace is experiencing a pandemic of an unfortunate way of life.
As indicated by the association, cardiovascular infections are straightforwardly connected to an unfortunate way of life. Accordingly, there is a sharp ascent in the quantity of individuals that are suffering from cardiovascular sicknesses. Further, the utilizations of the item in inward clinical applications, for example, volume of heart surgeries are growing. For example, fibrin-based adhesives which acts as a key binding agent having a hemostatic impact are seeing fast development in heart surgery.
By geography, the global market is dominated by North America by holding largest market share in 2019. Some of the major factors driving the regional growth include increasing geriatric population, rising awareness regarding harmful affects of wound infections and diseases in the region, especially in United States.
Moreover, inclination towards advanced wound dressing methods as compared with traditional staple and stitching has become a major trend in North America. Furthermore, Europe is anticipated to be the second largest share holder in global medical adhesives market. The growth of Europe can be attributed to one of the most advanced healthcare infrastructures and technologically growing healthcare industry after North America.
According to a data published by European Heart Network, Europe accounts for more than 45% deaths due to cardiovascular disease worldwide, which is expected to positively influence the regional growth. Moreover, Asia Pacific is projected to witness lucrative growth over the forecast period. Asia Pacific has 60% of worldwide population and the region is continuously witnessing significant healthcare expenditure for improvement of healthcare facilities that is expected to create ample opportunities for the regional growth.
Medical Adhesive Market Value Share Analysis, by Geography (2022)
The report titled “Medical Adhesive Market- Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is the historic period, 2022 is the base year, and 2023 to 2032 is the forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Medical Adhesive Market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Medical Adhesive Market is segmented on the basis of technology, resin, application, and geography. On the basis of technology, the global market can be segment into Hot melt, Solvent based, Water based, and Reactive & others. Based on resin, the global medical adhesive market can be segregated into Silicone, Acrylic, Epoxy, Polyurethane, and Others. By application, the global market can be divided into Dental, External medical application, Internal medical application, and Medical device & equipment. Based on geography, the global Medical Adhesive Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Medical Adhesive. Further, market share of prominent companies in the global Medical Adhesive Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Medical Adhesive device companies. The global Medical Adhesive Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Medical Adhesive business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global Medical Adhesive Market.
Some of the prominent players involved in global Medical Adhesive Market include 3M Company, Johnson & Johnson, Braun Melsungen AG, Medtronic plc and Baxter International Inc among others.
Segmentation:
By Technology:
By Resin:
By Application:
By Geography
14.3.1. 3M Company
The global medical adhesive market was worth US$ 9.7 billion in 2019.
The global Medical Adhesive market is expected to register a CAGR of 8.2% between 2022 and 2032.
3M Company, Johnson & Johnson, Braun Melsungen AG, Medtronic plc and Baxter International Inc are the top 5 Medical Adhesive manufacturers.
Some of the major factors driving the regional growth include increasing geriatric population, rising awareness regarding harmful affects of wound infections and diseases.
The global medical adhesive market is dominated by North America by holding largest market share.
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