Newark, Jan. 15, 2024 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global Medical Stick-to-Skin Adhesives market is expected to grow from USD 2.04 Billion in 2022 to USD 4.27 Billion by 2032, at a CAGR of 7.67% during the forecast period 2023-2032.
Wearable stick-to-skin devices are offering doctors the freedom of time and location independence. These devices help healthcare providers get crucial patient information; based on that, appropriate action can be taken anywhere. It also gives freedom to patients as they don't have to spend hours travelling to clinics and hospitals. All these factors are eventually driving the growth of the medical stick-to-skin adhesives market.
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Competitive Strategy
To enhance their market position in the global Medical Stick-to-Skin Adhesives market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In May 2023: HB Fuller Company, a leading pureplay adhesive organization, acquired Adhezion Biomedical, a private medical adhesive organization from the US, with customers from over 40 countries.
The acquisition helped the organization expand its share in the medical adhesive sector by innovating in the highly profitable healthcare adhesive space. It is helping the organization gain market share in the medical stick-to-skin adhesive market.
Market Growth & Trends
There is a growing demand for wearable medical devices like smart patches and continuous glucose monitors. Hence, there is much more focus on patient comfort and convenience for wearable medical devices, leading to the formulation of skin-friendly adhesives that provide proper attachment without any damage or irritation. Moreover, making novel, skin-friendly sticky formulations that support sensitive skin and have longer wear time without any skin irritation or damage further helps with using wearable medical devices. All these factors are eventually propelling the growth of the Medical Stick-to-Skin Adhesives market. These adhesives can be used in several medical situations, such as securing sensors and wearable devices for surgical drapes and wound care bandages. These adhesives are important in managing ostomy care, chronic wounds and medical device attachment to monitor vital signs. Also, the surge in healthcare spending, growing demand for minimally invasive surgeries and advancement in technology in the healthcare sector is further propelling the market's growth. Hence, stick-to-skin adhesives are growing in the healthcare and sports sectors for monitoring vital signs. Also, the growing prevalence of infectious and chronic diseases globally has created a demand for drug delivery devices, wound care dressings and wearable medical devices. These factors boost the market growth. The medical stick-to-skin adhesive ensures that the device is attached securely to the skin and thus continuously monitors vital signs and health. Remote patient monitoring is also fueling the market's growth as these adhesive materials help make skin-friendly, long-wearing sensors that provide health data to a health provider in real time.
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Key Findings
• In 2022, the specialized adhesives segment dominated the market with the largest market share of 48.43% and market revenue of USD 987.97 Million.
The type segment is divided into electrode adhesives, transdermal drug delivery and specialized adhesives. In 2022, the specialized adhesives segment dominated the market with the largest market share of 48.43% and market revenue of USD 987.97 Million. This significant share is attributed to a broad range of adhesives customized for particular applications like ostomy devices, wound care, and medical device attachment.
• In 2022, the acrylic-based segment dominated the market with the largest market share of 43.33% and market revenue of USD 883.93 Million.
The product segment is divided into acrylic-based, silicon-based, rubber based and others. In 2022, the acrylic-based segment dominated the market with the largest market share of 43.33% and market revenue of USD 883.93 Million. This significant share is attributed to its excellent long-term hold and resistance to chemicals and high temperatures.
• In 2022, the hospitals & clinics segment dominated the market with the largest market share of 72.57% and market revenue of USD 1.48 Billion.
The end user segment is divided into hospitals & clinics, home care settings and others. In 2022, the hospitals & clinics segment dominated the market with the largest market share of 72.57% and market revenue of USD 1.48 Billion. Hospitals generally prefer products that support many medical applications, from surgery to diagnostics, and need versatility and clinical efficacy.
Regional Segment Analysis of the Medical Stick-to-Skin Adhesives Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The North America region occurred as the largest market for the global Medical Stick-to-Skin Adhesives industry, with a market share of 31.89% and a market value of around USD 650.56 Million in 2022. This market share is attributed to the surge in the cases of chronic diseases like obesity and diabetes in the region, which lead to regular medical interventions. APAC region shows the fastest growth rate due to growing investment in developing healthcare infrastructure.
Report Scope
Base Year | 2022 |
Forecast period | 2023-2032 |
Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
Regional scope | Asia Pacific, Europe, South America, North America, and Middle East & Africa |
Market Size(unit) | USD 4.27 Billion |
Data Warehousing Market CAGR | 7.67% |
Segments Covered | Type, Product and End User |
Key players operating in the global Medical Stick-to-Skin Adhesives market are:
• Ocular Therapeutix, Inc.
• Panacol-elosol GmbH
• Mativ Holdings, Inc.
• LINTEC Company
• Ashland Inc.
• Avery Dennison Corporation
• Baxter International Inc.
• Chemence Medical Inc.
• Advanced Medical Solutions Group Plc
• Cryolife, Inc.
• DuPont de Nemours, Inc.
• Dymax Corporation
• 3M Company
• Glaxosmithkline PLC
• H.B. Fuller Company
• Heartland Adhesives, LLC
• Henkel AG & Co. KGaA
• Mactac
• Smith & Nephew PLC
• Master Bond Inc.
• Procter & Gamble Company
• Medical Devices Business Services, Inc.
• Medtronic PLC
• Nitto Denko Corporation
• DermaMed Coatings Company, LLC
• Permabond LLC
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Medical Stick-to-Skin Adhesives market based on below mentioned segments:
Global Medical Stick-to-Skin Adhesives Market by Type:
• Electrode Adhesives
• Transdermal Drug Delivery
• Specialized Adhesives
Global Medical Stick-to-Skin Adhesives Market by Product:
• Acrylic-Based
• Silicon-Based
• Rubber Based
• Others
Global Medical Stick-to-Skin Adhesives Market by End User:
• Hospitals & Clinics
• Home Care Settings
• Others
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About the report:
The global Medical Stick-to-Skin Adhesives market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
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