The global medical adhesives market size is expected to reach USD 16.35 billion by 2030 according to a new study by Polaris Market Research. The report “Medical Adhesives Market Share, Size, Trends, Industry Analysis Report, By Resin (Acrylic, Polyurethane, Epoxy, Silicone, and Others), By Technology (Water based, Solvent based, Hot melt, and Reactive & others), By Application (Dental, Medical device & equipment, Internal medical application, and External medical application), By Region, And Segment Forecasts, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
There major propelling factors are such as the rising demand for medical adhesives in end-use industries like dental and healthcare devices & equipment, coupled with the faster-operating speed is offered by the usage of these adhesives instead of traditional wound closure techniques like stitches is anticipating the industry growth across the globe. In addition, the growing geriatric population is also augmenting the industry demand as this age group is more prone to suffering from various diseases, which, in turn, stimulates market growth. As per the United Nations estimations, the older persons are expected to rise by two times by the end of 2050 and with around 2.1 billion people.
Based on the resin, the acrylics segment is dominating the global industry with the highest revenue shares owing to the increasing applications, and adoption of acrylics in both internal and external medicinal operations. Whereas, the Silicone segment is showing the highest CAGR rate that leads the industry demand. Factors such as the ability to stick to various difficult-to-adhere substrates, as well as it also offers environmental protection and durability, which may fuel the segment growth in the approaching years.
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The increasing applications of these adhesives in medical devices assembly to internal & external healthcare applications are propelling the industry demand. For instance, the closing of skin wounds with stitching is now can be replaced by special cyanoacrylates. Accordingly, the advantage presented by these goods is that the entire wound can be enclosed. Thus, these procedures restrain secondary bleeding and also lessen the chances of infection. Hence, these factors are surging the industry growth over the forecasting years.
Market participants such as 3M, Ashland, Avery Dennison, B. Braun, Baxter International Inc., Bostik, C.R. Bard, Inc., Dentsply Sirona, H.B. Fuller, Heartland Adhesives, LLC, Henkel AG & Co. KGaA, Nitto Denko Corporation, The Dow Chemical Company are some of the key players operating in the global market.
The strategic actions by the companies such as mergers & acquisitions, strengthening product portfolio, product launches, etc. help them to reinforce their market position, which also projects the market growth. For instance, In July 2021, the acquisition of PerClot Polysachharide Hemostatic System from CryoLife, Inc. is announced with Baxter International. This helps Baxter International to strengthen its portfolio.
Polaris Market Research has segmented the medical adhesives market report on the basis of resin, technology, application, and region:
Medical Adhesives, Resin Outlook (Revenue - USD Million, 2018 - 2030)
Medical Adhesives, Technology Outlook (Revenue - USD Million, 2018 - 2030)
Medical Adhesives, Application Outlook (Revenue - USD Million, 2018 - 2030)
Medical Adhesives, Regional Outlook (Revenue - USD Million, 2018 - 2030)