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Global Medical Adhesives Market to Reach Over USD 14.69 Billion by 2027, Aided by Increasing Geriatric Population

According to a new report by EMR titled, ‘Global Medical Adhesives Market Report and Forecast 2022-2027’, the global medical adhesives industry reached about USD 9.52 billion in 2021. The industry is further expected to grow at a CAGR of about 7.49% in the forecast period of 2022-2027 to reach a value of over USD 14.69 billion by 2027.

The increasing use of medical adhesives for internal and external surgeries has been driving the industry's growth in the historical period. Another significant industry driver is the increasing penetration of transdermal patches. The transdermal patch is used to deliver the drug directly to the bloodstream through the skin. This is a more effective method of drug delivery than a high ingestion dosage, which is then eliminated from the body by the liver. Recent advances in medical adhesives are resulting in a broader range of applications for medical joining and bonding, such as medical device assembly, bonding human tissue, wound care, and drug-delivery systems, which will drive market growth. In addition, an increasing number of laparoscopic surgeries and non-invasive surgery is boosting the usage of adhesives for wound closure.

Moreover, the rapidly increasing geriatric population and rising prevalence of chronic diseases such as cardiovascular diseases among elderly individuals are factors driving the rapid utilisation of medical adhesives in internal surgeries. Rising demand for medical protective wear during the COVID-19 pandemic, and subsequent tracing, testing, treatment, and vaccination activities, are expected to drive the future demand for medical adhesives. The rising popularity of tissue adhesives in the healthcare sector is expected to bolster market growth during the forecast period. In addition, the rising prevalence of oral health problems such as cavities, gum disease, and tooth decay is expected to increase the utilisation of medical adhesives in dental applications.

New product development is a significant strategy used by the medical adhesive companies, which has been bolstering the industry's growth and is likely to continue adding to the growth of the industry in the coming years. For example, in April 2017, Baxter International (NYSE: BAX), the world leader in surgical adhesive manufacturing, unveiled new designs to improve the company's FLOSEAL and TISSEEL hemostatic products. Such developments are likely to augment the market growth in the forecast period.

Market Analysis by Resin, Technology, Application, and Regions:

  • Based on resin, the industry is classified into acrylic, polyurethane, epoxy, and silicone, among others.
  • The various technologies include water-based, solvent-based, hot melt, and reactive, among others.
  • The industry's leading applications are dental, medical devices and equipment, internal medical application, and external medical application, among others.
  • The regional markets for medical adhesives include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Growing population and increasing per capita income are expected to contribute to the industry's growth.
  • Increasing health awareness among consumers will also boost market growth.
  • Technological innovations have led to environment-friendly and biocompatible adhesives for surgical applications.
  • Regulatory policies and favourable foreign trade policies would contribute to the growth of the medical adhesives market.
  • Continuous research and development by prominent players to develop non-irritable adhesives is likely to propel medical adhesive market growth.

Key Offerings of the report:

  • The EMR report gives an overview of the global medical adhesives industry for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for the resin, technology, applications, and major regions of medical adhesives.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global medical adhesives market are Baxter International Inc., Henkel AG & Co. KGaA, The Dow Chemical Company, The 3M Company, and Chemence Medical, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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