New York City, NY -- (SBWIRE) -- 09/08/2020 -- The global medical adhesives market attained a value of $8,714.9 million in 2019 and is predicted to reach a valuation of $16,367.2 million in 2030, exhibiting a CAGR of 2.3% between 2020 and 2030. The market is being driven by the increasing per capita income of people in several countries, surging investments being made in the healthcare industry by the governments of developing nations, and the rapid advancement of the medical equipment and products manufacturing industry across the globe.
The increasing spending power of people in developing countries such as India, Brazil, and China is a major factor fueling the progress of the market. In the last few years, these countries have experienced rapid economic growth and this has consequently caused a sharp surge in the per capita income of the people living in these countries. Moreover, the governments of these nations are making huge investments in the healthcare industry, which is resulting in the development of affordable medical devices and equipment, PPE kits, medicines, and pharmaceuticals.
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The other major factor driving the advancement of the market is the increasing incidence of surgeries across the globe. The rising public awareness of hospital-acquired infections and the growing focus of healthcare facilities on proper hygiene are fueling the utilization of disposable medical instruments. Additionally, the implementation of strict policies regarding hygiene and infection prevention in hospitals and clinics and the increasing number of outpatient and surgical procedures are boosting the usage of disposable medical devices, which is, in turn, causing expansion of the market.
On the basis of application, the medical adhesives market is divided into medical devices and equipment, internal medical application, external medical application, and dental categories. Amongst these, the internal medical application category will account for the highest revenue share in the market in the future. This is attributed to the mushrooming usage of bio-adhesives in internal medical applications, that require direct contact between medical tools and tissues, body fluids, and organs. The rising incidence of such surgical procedures will push up the requirement of medical adhesives in the coming years.
Browse report overview with detailed TOC on "Medical Adhesives Market Research Report: By Resin (Acrylic, Cyanoacrylate, Rubber, Silicone, Epoxy, Polyurethane, Natural), Technology (Water-Based, Solvent-Based, Hot Melt & Other Solids), Application (Internal Medical Application, External Medical Application, Dental, Medical Devices & Equipment) - Global Industry Analysis and Demand Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/medical-adhesives-market-report
Water-based, hot melt and other solids, and solvent-based are the main categories present under the technology segmentation of the market. Out of these categories, the hot melt and other solids one is predicted to dominate the market during the next few years. This is because of the numerous application areas of the reactive, hot melt, and various other solid adhesives. Internal medical, wound healing, external medical, and dental operations are some of the major application areas of the hot melt and other solid medical adhesives.
Globally, the North American medical adhesives market will be the most lucrative in the forthcoming years, as per the forecast of P&S Intelligence, a market research firm based in India. This is credited to the continuously rising requirement of various medical devices, thermometers, first-aid kits, equipment syringes, needles, surgical sutures, plastic tubes, stretchers, and PPE products in the region. Furthermore, the increasing population of several North American countries will drive the surge of the market in the region in the years to come.
Therefore, with the growing incidence of surgical procedures, the rapid progress of the medical devices manufacturing industry, and increasing investments being made in the healthcare industry in several countries around the world, the market will exhibit huge expansion in the upcoming years.
Market Segmentation
Based on Resin
Acrylic
Cyanoacrylate
Rubber
Silicone
Epoxy
Polyurethane (PU)
Natural
Based on Technology
Water-based
Solvent-based
Hot melt & other solids
Based on Application
Internal Medical Application
External Medical Application
Dental
Medical Devices & Equipment
Geographical Analysis
North America
U.S.
Canada
Europe
U.K.
Germany
Italy
France
Spain
Asia-Pacific (APAC)
China
India
Japan
South Korea
Latin America (LATAM)
Brazil
Mexico
Middle East & Africa (MEA)
Saudi Arabia
South Africa
Turkey
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