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Medical Adhesives Market Share

ID: MRFR//3510-HCR | 140 Pages | Author: Chitranshi Jaiswal| May 2024

In the Medical Adhesives Market, effective positioning strategies are critical for companies to establish their presence, differentiate their offerings, and capture a significant share of the market. These strategies involve deliberate actions aimed at addressing the specific needs of healthcare providers, ensuring product reliability and safety, and building strong relationships with customers.

Product Differentiation: Companies can differentiate themselves in the Medical Adhesives Market by offering a diverse range of adhesive products tailored to meet different medical applications. These may include skin adhesives for wound closure, surgical adhesives for tissue bonding, and medical tapes for securement and dressing fixation. By providing innovative and specialized products designed for specific medical procedures, companies can attract healthcare providers seeking reliable and effective adhesive solutions, thereby gaining a competitive advantage in the market.

Focus on Performance and Safety: Emphasizing performance and safety is paramount in the Medical Adhesives Market. Healthcare providers rely on medical adhesives to ensure secure and durable wound closure, tissue bonding, and medical device fixation. Companies that prioritize product quality, reliability, and safety through rigorous testing, compliance with regulatory standards, and adherence to industry best practices can build trust and credibility among healthcare professionals. Ensuring that medical adhesives are biocompatible, hypoallergenic, and non-toxic is essential to prevent adverse reactions and ensure patient safety, ultimately leading to increased market share.

Customization and Tailored Solutions: Offering customization and tailored solutions can be a strategic positioning strategy in the Medical Adhesives Market. Different medical procedures and patient populations may require adhesive products with specific characteristics, such as flexibility, breathability, and moisture resistance. By collaborating closely with healthcare providers to understand their unique requirements, companies can develop customized adhesive solutions that address specific clinical needs and deliver optimal performance. Customization and tailoring can help companies meet the diverse demands of the medical community and gain a competitive edge in the market.

Innovation and Technology: Investing in innovation and technology is essential for companies seeking to differentiate themselves and drive growth in the Medical Adhesives Market. By developing and integrating advanced technologies such as bioadhesion, nanotechnology, and antimicrobial properties, companies can enhance the performance, functionality, and safety of their adhesive products. Innovative adhesive solutions that offer unique benefits, such as reduced tissue trauma, improved wound healing, and infection prevention, can set companies apart from competitors and attract healthcare providers seeking cutting-edge medical adhesives, ultimately leading to increased market share.

Strategic Partnerships and Collaborations: Forming strategic partnerships and collaborations with medical device manufacturers, hospitals, and research institutions can help companies expand their market reach and enhance their competitive position in the Medical Adhesives Market. By collaborating with key stakeholders in the healthcare industry, companies can gain access to new markets, leverage complementary resources and expertise, and develop innovative adhesive solutions that meet the evolving needs of healthcare providers and patients. Strategic partnerships can also facilitate product development, clinical validation, and market adoption, driving market share growth and profitability.

Geographical Expansion and Market Penetration: Expanding into new geographical markets and penetrating existing markets more deeply can help companies increase their market share in the Medical Adhesives Market. By targeting emerging markets with growing demand for medical adhesives and strengthening their presence in established markets, companies can tap into new customer bases, gain market share from competitors, and drive revenue growth. Geographical expansion can also help companies mitigate risks associated with market fluctuations and regulatory changes in specific regions, thereby enhancing overall market competitiveness and profitability.

Brand Building and Marketing Efforts: Building a strong brand and investing in marketing efforts are essential for companies to differentiate themselves and increase visibility in the Medical Adhesives Market. By developing a unique brand identity, communicating value propositions effectively, and engaging in targeted marketing campaigns, companies can raise awareness about their adhesive products and establish themselves as trusted partners in the healthcare industry. Brand building efforts can also help companies build credibility, trust, and loyalty among healthcare providers, driving repeat business and increasing market share over time.

Covered Aspects:

Report Attribute/Metric	Details
Base Year For Estimation	2023
Historical Data	2018 & 2020
Forecast Period	2023-2030
Growth Rate	7.15% (2023-2030)

Medical Adhesives Market Highlights:

Medical Adhesives Market Trends

Medical Adhesives Market Analysis

Medical Adhesives Market Share

Medical Adhesives Companies

Global Medical Adhesives Market Overview

The Medical Adhesives Market Size was valued at USD 9.1 Billion in 2022. The Medical Adhesives market industry is projected to grow from USD 9.58 Billion in 2023 to USD 16.48 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 7.15% during the forecast period (2023 - 2030).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. 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. Medical Adhesives Market Overview Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Medical Adhesives Market Trends

High investment in innovation and development of medical devices.

Medical adhesives can be used in various applications ranging from internal & external medical applications to medical device assembly. For instance, the closing of skin wounds through stitching as previously is now being replaced by special cyanoacrylates. The advantage offered by these products is that the wound is easily covered. According to the World Health Organization, the population is suffering from an epidemic of an unhealthy lifestyle. According to the organization, cardiovascular diseases are linked to an unhealthy lifestyle.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Additionally, there is a rise in the number of people who are afflicted with cardiovascular diseases. Further, the applications of the product in internal medical applications such as heart surgeries are widely expanding. For instance, fibrin-based adhesives that act as binding agents having a static effect are witnessing rapid growth in heart surgery. In addition, the rising elderly population is the main factor supporting market growth. The elderly population is more susceptible to various diseases compared to the younger population. It is likely to create a suitable platform for market growth over the coming years.

Medical Adhesives Market Segment Insights

Medical Adhesives Product Insights

The Medical Adhesives market segmentation, based on Product, includes Synthetic and Natural Products. Synthetics can be further classified into acrylic, silicone, Cyanoacrylate, Polyethylene glycol, and Others. Natural can be further sub-segmented into Collagen, Fibrin, Albumin, and Other Natural. Synthetic is the dominant segment and held the largest market share due to its high-quality performance over natural. Further, these adhesives can be modified depending on the need and have better adhesive properties than natural adhesives.

Medical Adhesives Application Insights

Based on Application, the Medical Adhesives market segmentation includes internal, external, and dental. Dental is the dominating segment for Medical Adhesives as it held the largest market share in 2021 and these adhesives are used a lot in dentistry like Denture Bonding, Dental surgical Tissue Bonding, Restorative Adhesives, and others.

Figure 2: Medical Adhesives Market, by Resin, 2023 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Medical Adhesives Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. the North American region dominates the market by generating over 25% Medical Adhesives Market Share for the forecast period. This region is driving the growth of the market due to the high investment in medical device innovation and development and the presence of leading pharmaceutical companies in the region.

Figure 3: MEDICAL ADHESIVES MARKET SHARE BY REGION 2023 (%)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

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 a lot of amount on the development of medical adhesives, which is predicted to grow in the Medical Adhesives Market during the forecast period.

Medical Adhesives Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the Medical Adhesives market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Medical Adhesives industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Medical Adhesives. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Medical Adhesives industry must offer affordable products.

Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Medical Adhesives industry to benefit customers and expand the market sector. The Medical Adhesives market has recently given medicine some of the most important advantages. Major Medical Adhesives market players, including H.B. Fuller (US), Johnson & Johnson (US), Ashland Inc. (US), 3M (US), and others, are attempting to increase market demand by funding R&D initiatives.

H.B. Fuller Company is a company that formulates, manufactures, and markets adhesives, sealants, coatings, polymers, tapes, encapsulants, additives, and other specialty chemical products. The company operates in three segments: Hygiene, Health and Consumable Adhesives, Engineering Adhesives, and Construction Adhesives.

Also, Johnson & Johnson is a holding company that engages in the research and development, manufacture, and sale of a range of products in the healthcare field. The company operates in three business segments: Consumer, Pharmaceutical, and Medical Devices. The Consumer segment includes a range of products used in baby care, oral care, beauty, over-the-counter pharmaceutical, women’s health, and wound care markets.

Key Companies in the Medical Adhesives market include

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)

Cohera Medical, Inc. (US)

Medical Adhesives Industry Developments

In April 2021, 3M announced a new addition to a new class of silicone adhesives, 2484 3M™ Single, Coated Medical Film Tape with Hi-Tack Silicone Adhesive on Liner, which is secure and gentle to assist support device compliance by end-users. The company revealed that the new addition to the company product portfolio is to meet the growing demand for medical adhesives worldwide. The latest 2484 3M Hi-Tack Silicone Adhesive is conformable, breathable, minimizes skin cell removal, and allows over seven-day wear time that makes it an ideal choice to be used on fragile skin. At present, the company Hi-Tack Silicone Adhesive Portfolio includes 2484 3M Hi-Tack Silicone Adhesive and 2480 3M Hi-Tack Silicone Adhesive launched last year. 3M expects the portfolio to expand over time.

November 2021, A producer of adhesive patches and tapes for medical devices used by people with diabetes, Skin Grip, has produced Underlayer's latest product. The product is engineered to decrease the amount of skin irritation while using medical devices, particularly the users with sensitive skin issues, which come Internal on those devices. The product is complementary to Skin Grip's hypoallergenic patches and tape used to secure diabetic sensors to the body. The Underlayer operates by generating a barrier- a thin layer of non-adhesive material- between the user's skin and their medical device. The product is reusable and can be used with each new sensor application.

Medical Adhesives Market Segmentation

Medical Adhesives Product Outlook

Synthetic

Natural

Medical Adhesives Application Outlook

Internal

External

Dental

Medical Adhesives Regional Outlook

North America
- US
- Canada

Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe

Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific

Rest of the World
- Middle East
- Africa
- Latin America

Medical Adhesives Companies

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