Global Medical Adhesives and Sealants Market Set for Rapid Growth, To Reach Around USD 10.50 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 05/01/2017 -- According to the report, global demand for medical adhesives and sealants market was valued at USD 6.0 billion in 2014, and is expected to reach USD 10.50 billion in 2020, growing at a CAGR of 8.5% between 2015 and 2020. In terms of volume, the global medical adhesives and sealants market stood at 550.0kilotonsin 2014.
Zion Market Research has published a new report titled "Medical Adhesives and Sealants (Synthetic and Natural) Market for Internal, External and Dental Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020."
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Medical adhesives and sealants are chemically formulated products used for safety bonding of components used in medical procedures. Medical adhesives and sealants are generally used in the medical applications like sterile disposables, resposables, reusable and non-sterile reusable. Medical adhesives and sealants offer properties such as high wear and tear and strong bonding and holding.
The key driving factor of the medical adhesive and sealants market is increasing dental treatment sand increasing aging population. Excellent characteristics of medical adhesives and sealants are one of the important factors driving the demand for the medical adhesives and sealants market. However, stringent regulations related with medical grade products may limit the growth of the market.
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The medical adhesives and sealants market has been segmented on the basis of the product segment analysis as synthetic adhesives and sealants and natural adhesives and sealants. Further the synthetic adhesives and sealants are sub-segmented as acrylic, silicones, cyanoacrylate, polyethylene glycol and other synthetics. The acrylic adhesives and sealant dominates the other product segments and accounted over the 30% shares of the medicals adhesives and sealants market in 2014. Moreover, the cyanoacrylate and polyethylene glycol adhesives and sealants are expected to be the fastest growing segments over the years to come owing to the advancement in the formulations of adhesives.
The medical adhesives and sealants market has been segmented on the basis of the application segment analysis as internal, external and dental applications. In 2014, the internal application segment was the dominating segment and it accounted for the around50% shares of the market globally in 2014. Thus, further it is expected to continue this trend and lift the CAGR by 8.0% for the forecast period. In addition, external application is expected to have substantial growth due to increasing penetration of consumer goods.
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With over 40% shares, North America dominated the global medical adhesives and sealants market in 2014. In terms of volume, Europe held the second largest share of the market in the same year. Asia Pacific expected to be the fastest growing regional market during the forecast period due to the emerging economies like China and India.
Key industry participants of the global medical adhesives and sealants market includes, 3M Company, HB Fuller, Henkel AG, Baxter International, Dentsply Limited, CryoLife Inc., Johnson and Johnson, Adhesive Research Inc., Avery Dennison Corporation and Ashland, Inc.
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