New York (US), May 09, 2023 (GLOBE NEWSWIRE) -- Medical Adhesives Market Overview
The MRFR study reports imply that the “Medical Adhesives Market Research Report Information by Technology, Resin, Region, and Application - Forecast Till 2030”, the global Medical Adhesives Market is predicted to bolster substantially during the review era from 2022 to 2030 at a substantial growth rate of around 7.15%. The reports further predict the market will acquire nearly USD 16.48 Billion by the end of 2030. As per the documents, the Medical Adhesives Market was valued at nearly USD 9.1 Billion in 2022.
Market Scope:
Medical adhesives are extensively helpful in bonding materials such as plastic and metal. These medical adhesives have various forms utilized extensively for various purposes, which are in several materials such as nonwoven, textiles, and films. Medical adhesives include attaching gauze, medical tape bandages, and other dressings to the skin around wounds.
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Competitive Analysis
The listing of the prominent leaders across the global market for medical adhesives includes players such as:
- H.B. Fuller (US)
- Dow (US)
- Johnson & Johnson (US)
- Avery Dennison Corporation (US)
- Ashland Inc. (US)
- Chemence (UK)
- 3M (US)
- Henkel AG & Company
- Arkema Group (France)
- Cohera Medical, Inc. (US)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 16.48 Billion |
| CAGR | 7.15% (2023-2030) |
| Base Year | 2023 |
| Forecast Period | 2023–2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Key Market Drivers | Skin adhesive is designed for skin-adhered medical devices which offers strong adhesion and manufacturing flexibility. High investment in innovation and development of medical devices. |
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Market USP Covered
Market Drivers
The global Medical adhesives industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the high investment in innovation and the development of medical devices. Medical adhesives can be utilized in several applications ranging from internal & external medical applications to medical device assembly. Furthermore, these products' advantages are also believed to be one of the vital parameters supporting the enhancement of the market over the assessment period. Moreover, factors such as a rise in the number of people afflicted with cardiovascular diseases, the applications of the product in internal medical applications, and the rising elderly population are also projected to enhance the performance of the Medical Adhesives Market over the coming years.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated.
COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Medical Adhesives Market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
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Segment Analysis
Among all the types of medical adhesives, the Synthetics segment is anticipated to secure the top position across the global market over the assessment period. The segment is further segmented into Polyethylene glycol, acrylic, Cyanoacrylate, silicone, and Others. The main parameter supporting the development of the segment across the globe is its high-quality performance over natural. Furthermore, these tapes can be modified based on the requirement and have better adhesive properties than natural adhesives. On the other hand, the natural segment is anticipated to showcase the maximum growth rate over the coming years. The segment is divided into Albumin, Fibrin, Collagen, and Other Natural.
Among all the medical tape application areas, the dental segment secured the leading position across the global market for medical adhesives in 2021. These tapes are utilized in dentistry like Restorative Adhesives, Dental surgical Tissue Bonding, Denture Bonding, and others.
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Regional Analysis
The global market for medical adhesives is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.
The research reports by MRFR suggest that the North American region held the top position across the global medical adhesives industry, with the largest contribution of approximately 25%. The main parameter supporting the development of the regional market is the high investment in medical device innovation and development. Furthermore, the region is known for the presence of leading pharmaceutical companies, which in turn is projected to enhance the performance of the regional market over the assessment period.
The European regional market for Medical adhesives is anticipated to showcase considerable development over the assessment period. The main parameter supporting the development of the regional market is the enhanced application of medical devices. Furthermore, the high old age population is also considered one of the crucial parameters enhancing the regional market's growth. Moreover, the rise in the number of chronic diseases across the region is also likely to boost the performance of the market over the assessment period. In addition, the region is spending a lot of amounts on the development of medical adhesives, which in turn is projected to catalyze the development of the Medical Adhesives Market across the region over the coming years.
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