Yahoo Finance Medical Adhesives Market Size Worth USD 16.84 Billion by 2025 at 8.08% CAGR – Report by Market Research Future (MRFR)
Medical Adhesives Market Insights and Industry Analysis by Resin {(Natural (Collagen, Fibrin, and Others), Synthetic & Semi-Synthetic (Acrylic, Cyanoacrylate, Epoxy, Silicone, Polyutherane, and Others)}, by Application (Implant, Tissue Bonding, Wound Closure, Medical Device & Equipment, Dental, Tapes, and Others), by Technology (Water-Based, Solid & Hot Melt and Solvent-Based), Region (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa), Competitive Market Size, Share, Trends, and Forecast till 2025
New York, US, July 26, 2021 (GLOBE NEWSWIRE) -- Medical Adhesives Market Overview:
As per an extensive research report published by Market Research Future (MRFR), the “Medical Adhesives Market Information by Resin, Technology, Application, and Region - Forecast till 2025”, the market is forecasted to reach USD 16.84 Billion by 2025 at 8.08% CAGR.
Market Scope:
Medical adhesives are biocompatible, and their features of not sensitizing, irritating, or cytotoxic have boosted their use in medical equipment. Furthermore, the hydrophobic quality of silicone adhesive makes it perfect for use in devices used during water sports such as swimming and diving. Silicone adhesives have grown in popularity as a result of its characteristics and benefits.
Market Drives
Because wearable smart medical devices provide information on blood pressure, breathing patterns, and blood glucose levels, the use of wearable smart medical devices has increased as the prevalence of chronic diseases such as diabetes and cardiovascular diseases has increased. As a result, rising disease incidence is predicted to fuel demand for silicone-based adhesives in the manufacture of wearable devices, propelling the worldwide medical adhesives market forward throughout the forecast period. The market's protuberant elements driving expansion include an ageing population, increased disease prevalence, and expanding healthcare requirements.
Furthermore, due to a growing awareness of health and wellbeing among customers, the market for medical equipment is increasing. The demand for wearable medical devices is being fueled by the influence of progressive wellness on consumers' attitudes toward exercise and a healthy lifestyle. Medical adhesives and glass substrates have strong binding characteristics that operate as an effective barrier against oxygen and moisture infiltration. These reasons have aided the global medical adhesives market's expansion.
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Competitive Landscape:
Some of the leading players in the global Medical Adhesives market are:
H.B. Fuller (US)
Johnson & Johnson (US)
Ashland Inc. (US)
3M (US)
Arkema Group (France)
Henkel AG & Company
Chemence (UK)
Avery Dennison Corporation (US)
Dow (US)
Cohera Medical, Inc. (US)
Market Restraints:
However, the market's expansion would be hampered by the short shelf life of adhesives and changing raw material prices throughout the projection period. Furthermore, the medical adhesive market would face hurdles due to rigorous regulations and lengthy approval processes.
Browse In-depth Market Research Report (140 Pages) on Medical Adhesives: https://www.marketresearchfuture.com/reports/medical-adhesives-market-4941
COVID-19 Analysis
The COVID-19 pandemic has drawn a lot of attention to medical product trade, particularly trade in preventative, diagnostic, and treatment items. With hundreds of thousands of people sick and a growing number of deaths, the COVID-19 pandemic has spread to most countries and territories. Governments are, understandably, taking precautions to prevent the virus from becoming a pandemic. Some of these policies may have an unintended impact on the transfer of crucial medical supplies across borders.
Market Segmentation
The medical adhesives market has been divided into four categories: resin, technology, application, and region.
The global market is split into natural, synthetic, and semi-synthetic resins. The worldwide medical adhesive market is dominated by synthetic and semi-synthetic based resin.
The market is divided into three categories based on technology: water-based, hot metal-based, and solvent-based. Water-based technology, in particular, is increasing at the fastest rate due to its unique qualities, such as reduced VOC content and lower cost when compared to other technologies.
Implants, tissue bonding, wound closure, medical device & equipment, dental, tapes, and other applications are included in the application segment. The fastest-growing application category of the global medical adhesives market is medical devices and equipment.
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Regional Analysis:
The market for medical adhesives has been researched in five important regions: Asia-Pacific, North America, Latin America, Europe, and the Middle East and Africa.
Asia Pacific is the fastest-growing of these areas, accounting for more than a third of the global medical adhesive market. The Asia-Pacific medical adhesive market is predicted to expand due to expanding population, which is driving up demand for better medical facilities, favoring medical adhesive demand over the forecast period. The consistent increase in government spending on the healthcare sector, combined with the updating of healthcare infrastructure, is driving market expansion in this area.
The medical adhesive industry in North America has a market share of over 25% and is expected to continue to grow in the future years. Medical adhesive demand in the region is projected to be driven by the presence of established pharmaceutical firms and substantial expenditure in medical device innovation and development.
Europe is a rapidly increasing market, with a surge in the number of chronic diseases in the region as a result of the region's large elderly population expected to increase the use of medical devices. The region has seen significant medical spending in recent years, and this trend is expected to continue in the next years, boosting market expansion.
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