Medical Adhesives Market is projected to be worth USD 12.3 Billion by 2027, registering a CAGR of 7% during the forecast period (2020 - 2027).
The Medical Adhesives Market is expected to meet market value at USD 16.84 billion by the end of the year 2025.
Further, the market has predicted to grow higher CAGR of 8.08% for the forecast period. In bonding materials like metal and plastic, medical adhesives are extensively helpful. These medical adhesives have different forms that are used extensively for various purposes, which are in different materials such as films, textiles, and nonwoven. Global medical adhesives products are offering better manufacturing flexibility as well as strong adhesion. Accordingly, the medical industry’s research and development are growing day by day. These kinds of development are increasing the medical adhesives products demand. Hence, the Medical Adhesives Market is expected to increase its market value for the review period.
Biocompatible medical adhesives are increasing their application in medical devices because of their non-cytotoxic, non-sensitizing, and non-irritating properties. There are other properties like silicone adhesive hydrophobic that are very useful for sportspersons. These properties are adorable to wear in the water sports like diving, swimming, and other activities. Hence, the popularity of silicone adhesives is increasing due to their broad benefits and advanced features. Moreover, the increasing awareness among customers about their health and wellness is increasing the demand for medical devices. Moreover, the wearable medical devices demand is enhancing the Medical Adhesives Market Growth due to the increasing concern about fitness and healthy lifestyle among the customers as well as the increasing influence of progressive wellness. Along with that, the medical adhesives contain glass substrates and strong binding properties, which are a superb barrier against moisture and oxygen permeation. This is driving the growth of the Medical Adhesives Market.
According to the Medical Adhesives Market Analysis report, the global market is growing with the continuous demands and support of the intended audiences such as medical adhesives manufacturers, research and development institutes, raw material suppliers, distributors, and traders of medical adhesives chemicals, nationalized laboratories, and potential investors. These collective demands are increasing the Medical Adhesives Market Value for the assessment period.
The ongoing pandemic has not only affected the different sectors of marketing, but also it has affected the Medical Adhesives Market Trends. During the COVID-19 pandemic period, the global market has lost all investors due to the imposing shutdown and lockdown of the various countries. Along with that, transportation and production also paused for some period of time.
However, the continuous efforts of the global key players and manufacturers have raised the demands of the global Medical Adhesives Market product.
The wearable smart medical devices are very useful for patients with chronic diseases like cardiovascular diseases or diabetes. It offers proper information on blood glucose levels, blood pressure, and breathing patterns. Hence, the growing prevalence of chronic diseases is increasing the wearable smart medical devices adoption, which is increasing the Medical Adhesives Market Growth for the forecast period.
The World Health Organization (WHO) report of 2014 has mentioned that nearly 422 million populations had diabetes across the world. Among these populations, the Mexico region has the highest prevalence of obesity and diabetes. The 2014 data shows that nearly 70% of adults and 33% of children had suffered from obesity. Therefore, the growing incidence of diseases in this region is predicted to boost up the silicone-based adhesives demands and increase the growth of the global Medical Adhesives Market for the research period.
The increasing awareness among the population about the benefits of medical devices and increasing health consciousness among the customers is bringing more opportunities for the global Medical Adhesives Market players.
The Medical Adhesives Market Analysis report has highlighted that the global key players are working effectively to generate more Medical Adhesives Market Share for the research period.
The global Medical Adhesives Market might face restraints due to the increasing demands and limited regional authority. Here, the global market requires the employment of more key players in various remote parts of the world.
The Medical Adhesives Market Forecast report has highlighted that the key players are implying different strategies to meet the demands of their customers.
The global Medical Adhesives Market might face challenges due to the lack of investment in the research and developmental activities in the Medical Adhesives products.
The global Medical Adhesives Market Trends might face another challenge due to the introduction of an advanced alternative to wearable smart medical devices.
The Asia-Pacific region is projected to increase its Medical Adhesives Market growth due to the increasing population along with the increasing demands for better medical facilities. Moreover, the Latin America and the Middle East & Africa market are predicted to grow higher due to the increasing chronic diseases in these regions.
The Medical Adhesives Market Forecast report explains that the regional growth of the global market is bringing more opportunities and scope to the global manufacturers and is expecting to generate more market value in the upcoming years.
On the basis of resin segment, the global Medical Adhesives Market has been classified into synthetic and semi-synthetic, and natural.
Among these, the synthetic and semi-synthetic resin segment dominates the global market by generating the larger Medical Adhesives Market Size for the research period.
The global Medical Adhesives Market has been segmented into wound closure, tissue bonding, implant, medical device and equipment, tapes, dental, and others based on the application segment.
Out of all, the medical device and equipment application segment is predicted to be the fastest-growing application in the global market for the review period.
The global Medical Adhesives Market has been divided into solvent-based, solid and hot melt, and water-based based on the technology segment.
Out of these segments, the solids and hot melts technology segment is predicted to reach higher CAGR for the assessment period. Also, this segment is generating a higher Medical Adhesives Market Size during the forecast period.
On the basis of regional classification, the global Medical Adhesives Market has been classified into several marketing regions such as South America, North America, Asia Pacific, Europe, and the Middle East, and Africa.
Among these regions, the North American region dominates the global market by generating over 25% Medical Adhesives Market Share for the forecast period. This region is driving the growth of the global market due to the high investment in medical device's innovation and development and the presence of leading pharmaceutical companies in the region. Moreover, the European market is predicted to enhance the application of the medical device as well as increase the market growth due to the high old age population and increase in the number of chronic diseases in this region. This region is spending lots of amount on the development of medical adhesives, which is predicted to grow in the global Medical Adhesives Market during the forecast period.
The global Medical Adhesives Market’s key players are contributing their all efforts to generate more market size for the forecast period. These top key players are:
The above-mentioned key players are playing an essential role in boosting up the Medical Adhesives Market Value by applying advanced innovation and strategies to the global market.
The Medical Adhesives Market Outlook report has highlighted the present market growth and developing research with the help of qualitative and qualitative research analysis. The present report is a combination of both primary and secondary research, where key leader's interviews, report data, and others have been involved. The report has explained the market dynamics, market segments, and market overview to make an understanding of the present market challenges and their growth aspects.
Along with that, the Medical Adhesives Market Outlook report has explained the regional classifications, competitive analysis, and recent developments to highlight the present regional competitions among top key players and the recent collective efforts of the global key players.
|Market Size||USD 16.84 billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Resin, Application and Technology|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW) Key Vendors Mark Anthony Brands (US), Anheuser-Busch Companies, LLC (US), Molson Coors Beverage Company (US), Constellation Brands, Inc. (US), Boston Beer Co. (US), Polar Beverages (US), Blitz-Weinhard Brewing Co.’s (US), Craft Cocktail Company (US), Oskar Blues (US), and Diageo Plc. (UK) Key Market Opportunities Rising investment by market players in their R&D to launch innovative products. Product promotions through e-commerce channels. Key Market Drivers Rising association of RTD alcoholic beverages, including convenience of hard seltzers. Rising consumer preference for carbonated beverages with reduced alcoholic content.|
|Key Vendors||H.B. Fuller (US), Johnson & Johnson (US), Ashland Inc. (US), 3M (US), Arkema Group (France), Henkel AG & Company, Chemence (UK), Avery Dennison Corporation (US), Dow (US), and Cohera Medical, Inc. (US)|
|Key Market Opportunities||The demand for medical devices is increasing owing to the growing awareness regarding health and wellness among customers.|
|Key Market Drivers||
Global Medical Adhesives Market is projected to grow at an 8.08% CAGR between 2019-2025.
The global Medical Adhesives Market is estimated to meet USD 16.84 billion during the forecast period.
The North American region is contributing higher market value to the medical adhesives market for the forecast period.
Wound closure, medical device and equipment, tissue bonding, implant, tapes, dental, and others are the major applications of the medical adhesives market.
Advancements in medical industry, strong binding properties, and rising prevalence of chronic disease are adding market growth.