Global Medical Adhesives Market Research Report - by Resin Type (Natural, Synthetic), Technology (Water, Hot Metal, and Solvent Based), Application (Dental, Medical Device & Equipment, Tissue Bonding, Wound Closure, Fixation Tape), and Region till 2023
Pune, India -- (SBWIRE) -- 03/16/2018 -- Asia Pacific, North America, and Europe are the major regions in the Global Medical Adhesive Market. Other regions are the Middle East & Africa and Latin America. Among these regions, Asia Pacific is holding over a quarter share of the Global Medical Adhesive Market and is estimated to grow at the highest CAGR. It holds more 32% share of the market owing of the rising public and private investment in the healthcare sector, which was hit by the negligence till date. Furthermore, increasing disposable income is driving people to spend significant share of their income on their health. The developing countries such as India is emphasizing over the healthcare sector through National Health Mission (NHM), which involves upgrading the established health system and health status of the people of the country. Moreover, the growth in medical tourism within this region on account relatively affordable drugs and operating cost is expected to add into the current growth advantages of the region.
North America is the second largest market owing to the presence of leading manufacturers such as Ethicon US, LLC Adhezion Biomedical, LLC, and Baxter, which are diversifying its Medical Adhesive products to effectively compete in the market. In addition to this, rapidly growing R&D activities in the biomedical sector with continuous innovation and increasing use of medical devices and equipment in this region is anticipated to fuel growth of the market.
Europe is closely following North America in terms of market size of the Global Medical Adhesive Market. Germany, France, the U.K., and the Netherlands are the major markets in this region. The mature economies in this region is continuing its investment in innovation and development of green or bio-based products to meet the needs of national and international regulations. The strict measure such as CRP (Child Restrictive Packaging) which requires the drugs manufacturers to put on a safe and harmless cover on the medicines. These trends in the region are projected to drive the market during the years to follow.
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Other regions in the Global Medical Adhesive Market are the Middle East & Africa and Latin America. Latin America has a vast potential to grow at a considerable CAGR in the global medical adhesive market with reviving economy and pacifying political scenario.
The prominent players in the Global Medical Adhesive Market are. Ethicon US, LLC (U.S.), Covidien plc (Ireland), B. Braun Melsungen AG (Germany), Henkel AG & Co. KGaA (Germany), Gem srl (Italy), GluStitch (Canada), Cohera Medical, Inc. (the Netherlands), Chemence (U.K), Baxter (U.S.), and Adhezion Biomedical, LLC (U.S.), among others.
The Global Medical Adhesive Market is segmented on the basis of resin type, technology, application, and region.
Based on the Type, the market is categorized into natural and synthetic.
On the Basis of Technology, the market is segmented into water based, hot metal based, and solvent based.
By Application, the market is divided classified into dental, medical device & equipment, tissue bonding, wound closure, fixation tape, and others.
Geographically, the Global Medical Adhesive Market is segmented into Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. Among them, Asia Pacific is estimated to grow at the highest CAGR during the forecast period
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