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Increasing utilization of medical adhesives for internal and external surgeries and advancements in medical adhesives are some key factors drives growth
NEW YORK CITY, NEW YORK, UNITED STATES, September 28, 2022 /EINPresswire.com/ -- The global medical adhesives market size is expected to reach USD 14.78 Billion in 2028 and register a revenue CAGR of 7.0% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by factors such as increasing utilization of medical adhesives for internal and external surgeries and rising demand for Personal Protection Equipment (PPE) and drug delivery devices globally. Medical adhesives such as cyanoacrylate are replacing sutures in external applications as these are single-component, catalyst-free adhesives, which are capable of bonding at room temperature within a few seconds. These adhesives require no external initiation and solely rely on the small amounts of adsorbed chemical and water on the surface of the tissue for healing. Recent advancements in medical adhesives is enabling deployment in newer applications such as for medical joining and bonding, including medical device assembly, bonding human tissue, wound care, and in drug delivery system applications. These factors are expected to continue to drive revenue growth of the market during the forecast period.
Rising demand for telehealth solutions globally due to the COVID-19 pandemic, emergence of new and more infectious variants in countries across the globe, urgent need for safer and more efficient measures to reduce exposure, infection, and spread, as well as to provide more improved treatment and ensure positive outcomes among patients are other factors expected to boost market growth going ahead. Telehealth solutions help in improving clinical management and enhancing patient care. Rising need for pulse oximeters, wearable drug delivery systems, and other on-body remote patient monitoring solutions are driving demand for more durable medical adhesives.
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Major players in the market include Ethicon, Inc. (Johnson & Johnson), Henkel AG & Co. KGaA, 3M, Baxter International Inc., Nitto Denko Corporation, B. Braun (B. Braun Melsungen), H.B. Fuller Company, Bostik (Arkema), Chemence, and CryoLife, Inc.
Further key findings from the report suggest
In February 2021, Henkel Adhesive Technologies announced the expansion of its strategic partnership with Quad Industries. The partnership was expanded in order to provide support and capacities for prototyping and technological value creation with printed electronics solutions across multiple industries. With the partnership, the companies are aiming to strengthen the creation of printed electronics solutions such electronic skin patches. Smart health patch was developed by Belgium-based Byteflies, together with Henkel, and Quad Industries and four other medical and technology companies for remote patient monitoring. Synthetic & semi-synthetic resin segment is expected to account for largest revenue share in the global medical adhesives market over the forecast period. Wide usage of synthetic & semi-synthetic resins for assembling and sealing medical devices and parts is expected to boost revenue growth of this segment. Reactive & other technologies segment is expected to register significant revenue growth over the forecast period. Reactive & other technologies such as self-cured composite resin helps in restoring deeper cavities, those with dentinal gingival margin, and for occlusal restorations, which is increasing its utilization in dental applications. Dental segment is expected to account for a considerably large revenue share in the global medical adhesives market owing to growing awareness regarding oral hygiene and rising popularity of cosmetic dental procedures like tooth bleaching, enamel bonding, dental veneers, Invisalign braces, and enamel abrasion.
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Resin Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
Natural Resin Type Collagen Fibrin Others Synthetic & Semi-Synthetic Resin Type Silicone Epoxy Acrylic Polyurethane Cyanoacrylate Others
Technology Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
Solvent-based Water-based Solid & Hot-melt Based Reactive & Others
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
External Surgery Internal Surgery Dental Medical Devices & Equipment Others
Key Regional Markets Covered in the Report:
North America (U.S.A., Canada, Mexico) Europe (Italy, U.K., Germany, France, Rest of Europe) Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific) Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
What is the expected year-on-year growth of the during the forecast period? What key trends are expected influence revenue growth of the market going ahead? Which region is expected to account for largest revenue share over the forecast period? Which key companies are profiled in the report?
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