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Medical Adhesives Market Size 2022 : Segment by Technology, Applications, Regions, Challenges and Opportunities Forecast 2028

The Medical Adhesives Market Size was valued at US$ 9.13 billion in 2021 and is predicted to reach at US$ 15.15 billion by 2028, with a healthy CAGR of 7.5%.

 

Pune, Maharashtra -- (SBWIRE) -- 09/28/2022 -- Medical Adhesives Market Overview:

Medical adhesives are used in a variety of surgical operations, such as organ implants, orthopedic surgery, and cardiovascular surgery, to reduce blood loss. Medical adhesives help wounds heal naturally and stop air and liquid leaks both during and after surgery. Additionally, design engineers working on medical diagnostics, surgical drapes, and wound care are collaborating with materials experts who have access to a wide variety of adhesives to satisfy specific application needs.

According to the latest market research report published by SNS Insider, the medical adhesives market is expected to reach USD 15.15 billion by 2028, with a steady CAGR of 7.5% during the forecast period of 2022–2028.

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Drivers, Restraints, Opportunities and Challenges
The global medical adhesives market is anticipated to grow substantially as a result of the rise in demand for biological devices in the healthcare sector. The expansion of the market is anticipated to be driven by an increase in lifestyle illnesses in older individuals and the increased use of medical adhesives in hospitals during the projected period. Additionally, the expansion of its range of uses in the medical sector, including wound closure, medical devices & equipment, dental, and medical tapes, is anticipated to present a significant opportunity for the market.

Impact of the COVID-19 Pandemic

The expert's analysis indicated that the pandemic outbreak's impact on economies all over the world had further hurt the global economy by reducing demand for medical adhesive products. The pandemic's effects on logistics and the supply chain, along with the closure of production facilities, significantly slowed the market's expansion. Additionally, when the pandemic worsened in 2020, market growth plummeted against a background of erratic markets and increasing credit stress.

Market Segmentation

The technology segment's water-based category is anticipated to grow at the fastest rate in the medical adhesives market over the next few years. Due to the beneficial characteristics of water-based medical adhesives, such as the supply of good breathability, good anchoring to cloth face stocks, and quick-tackiness, this has occurred.

The acrylic adhesives segment is anticipated to experience the highest revenue increase over the projection period in terms of resin type. The majority of applications where acrylic adhesives are utilized call for great strength, impact resistance, and shock resistance.

The medical application segment will generate the highest revenue in the market for medical adhesives over the forecast period. This is a result of bio-adhesives being used more frequently for interior medical procedures.
Major Segments and Sub-Segment of Medical Adhesives Market are Listed Below:

By Technology:

- Water based
- Solvent based
- Solids and Hot melts
- Others

By Natural resin:
- Collagen
- Fibrin
- Others

By Synthetic and Semi-Synthetic resin:
- Cyanoacrylate
- Epoxy
- Acrylic
- Polyurethane
- Silicone
- Others

By Application:
- Dental
- Surgery
- Medical devices and equipment
- Others

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Regional Analysis

The North American region held the biggest market share owing to the significant demand, strong purchasing power, and opportunities for innovation in the healthcare industry. Around 60–65 percent of all healthcare spending and provision is covered by government-funded and -managed programs, including Medicaid, Medicare, the Veteran's Health Administration Program, and the Children's Health Insurance Program. This contributes significantly to the growth of the medical adhesives market in the region. Due to its high per capita wealth, quick technical breakthroughs in the healthcare industry, and government backing and initiatives surrounding free or insured healthcare programs, the U.S. has a prominent position in the region.

The Asia Pacific market for medical adhesives will experience the fastest growth in the coming years on account of its sizable population, numerous government initiatives, the presence of high-tech medical product manufacturing facilities in major countries, rise in presence of prominent players, increasing R&D activities, and the region's quickly rising healthcare spending.

Competitive Landscape Outlook

Some of the key players present in the medical adhesives market include Arkema Group, Johnson & Johnson, Henkel AG & Company, Cohera Medical, Inc., Ashland Inc., Avery Dennison Corporation, and Chemence.

Frequently Asked Questions in this report are:

- What are the factors influencing the growth of medical adhesive?
- What are the major applications for medical adhesive?
- Who are the major manufacturers?
- Why Medical adhesive are gaining market share?

Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter's 5 Forces Model

7. PEST Analysis

8.Medical Adhesives Market Segment, By Technology

9.Medical Adhesives Market Segment, By Natural Resin

10. Medical Adhesives Market Segment, By Synthetic and Semi-Synthetic Resin

11.Medical Adhesives Market Segment, By Application

12. Regional Analysis

13. Company Profile

14. Competitive Landscape

15. Conclusion

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