The “Medical Adhesives Market, Size, Global Forecast 2023-2030, Industry Trends, Growth, Share, Outlook, Impact of Inflation, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The global medical adhesives market is projected to achieve a significant milestone, with an estimated value of US$16.35 billion by the year 2030, according to this report.
Medical adhesives, versatile substances used in healthcare for wound closure, securing medical devices, and manufacturing additives for medical equipment, are gaining prominence as alternatives to traditional sutures and staples in various medical procedures, including dentistry and orthopedics.
Key Features of Medical Adhesives
Medical adhesives are characterized by their flexibility, non-toxic nature, and full ingredient transparency, ensuring patient safety and compliance with stringent healthcare standards. They are used in diverse applications, including tapes, dressings, electrodes, patches, and ostomy products. Surgical sealants, made from synthetic or natural materials, are often used in conjunction with sutures or staples to ensure complete closure of surgical incisions.
Market Growth Drivers
The rapid effectiveness of medical adhesives compared to traditional methods such as stitches is a key driver of market growth. Manufacturers are increasingly adopting cost-effective, easy-to-maintain, and eco-friendly solutions to gain a competitive edge. Technological advancements have led to the development of biocompatible and environmentally friendly surgical adhesives, which are now used in various medical applications, including device assembly and both internal and external medical uses.
Factors Contributing to Market Growth
- Cardiovascular Disease Epidemic: The global population is facing a crisis of unhealthy lifestyles, with a direct link to cardiovascular diseases. Medical adhesives are finding increased use in internal medical applications, such as cardiac surgery. Fibrin-based adhesives, with hemostatic properties, are witnessing substantial growth in cardiac surgery.
- Aging Population: The worldwide aging population is a significant driver of market expansion. The elderly are more susceptible to illnesses, providing a steady foundation for market growth in the coming years.
- Telehealth Adoption: The COVID-19 pandemic accelerated the adoption of telehealth solutions, increasing the demand for remote patient monitoring tools and wearable drug delivery systems. This trend has boosted the need for medical adhesives, which are crucial for securing these devices.
Segmentation and Key Findings
- Resin Type: The acrylic segment is the fastest-growing in the medical adhesives market due to its exceptional bonding properties, versatility, and durability. It is ideal for various medical applications, including wound closures and medical device assembly.
- Application: Dental adhesives lead the market due to their critical role in various dental procedures, driven by the demand for aesthetically pleasing dental work and advanced adhesive technology.
- Technology: Water-based products are expected to dominate the market due to their biocompatibility, safety in medical devices, and eco-friendliness.
The United States commands the largest market share in the global medical adhesives market, driven by a thriving healthcare sector, technological advancements, and stringent regulatory standards. India’s healthcare sector is also poised for significant growth, which will contribute to the expansion of the medical adhesives market in the country.
By Resin Type
2. Medical Device & Equipment
1. North America
1.1 United States
2.5 United Kingdom
3. Asia Pacific
3.4 South Korea
3.9 New Zealand
4. Latin America
5. Middle East & Africa
5.1 South Africa
5.2 Saudi Arabia
6. Rest of the World
1. H.B. Fuller Company
2. Henkel AG & Co. KGaA
3. Avery Dennison Corporation
4. Ashland Global Holdings Inc.
5. The Dow Chemical Company
6. 3M Co
7. PPG Industries
8. Dupoint De Nemours, Inc.
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