Medical Adhesives Market – Market Overview
Medical Adhesives are a lucrative market and is expected to have a steady growth during the forecast years. Adhesives are type of glue or paste that are used to stick different variety of substrates together. Medical adhesives are substances that are used in the medical industry to affix Medical Devices such as tape, dressing to the skin, fabricate the components of medical devices and to seal wounds. Medical adhesives are extensively used in surgical care as an efficient substitute to staples and suture. It is also used for bone reconstruction, and enamel during orthopedic and dental surgery. Properties such as time efficiency, ease of use, and non-invasiveness makes it ideal for the use of Medical Adhesives across various medical applications. The growing ageing population coupled with the increase in research and development activities for the production of improved Medical Adhesives are major factor driving the growth of the market. However, strict regulations relating to the use of synthetic grade adhesives can be a major restraining factor for the growth of the market. The global market of medical adhesives is segmented on the basis of resin type, technology, application and region. On the basis of resin type Acrylic Adhesives are primarily used in application that requires high strength, and impact and shock resistance. On the basis of application, the use of these adhesives in the manufacture of medical devices is set to expand during the forecast period. In the device and equipment application segment these adhesives are used in disposable, non-disposable devices, and other surgical tools.
According to the analysis of MRFR, the major market forces and trends driving growth of the global Medical adhesives Market includes growing innovation and development in the medical sector along with the increasing demand for the surgical sector. Moreover, the growing application in the internal and external medical device application is also expected to contribute substantially to the growth of the market during the forecast years.
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Medical Adhesives Market- Competitive Landscape
The Global Medical Adhesives Market is a highly lucrative market and is expected to expand at an encouraging CAGR during the forecast years. Johnson and Johnson, B. Braun Melsungen AG, 3M Company, and CryoLife, Inc. among others are some of the major players operating in this market. Most of these market participants are adopting the expansion, product launch, and merger and acquisition tactics to strengthen their production capacities and market position. Taking account of these trends the Global Medical Adhesives Market is projected to witness considerable competition over the forecast period of 2017-2023.
North America is anticipated to be a dominant region in the forecast years, and Asia Pacific market is expected to be the fastest growing market during the forecast years. The developed medical sector in U.S. and Canada coupled with the growing adoption rate of medical adhesives are the major factors driving the growth of the medical adhesives market in North America. Moreover, the growing international trade from the region along with the encouraging medical device regulatory system is also adding to the growth of the market. The Asia Pacific market of Medical Adhesives is mainly driven by Japan, china and India. The growing population and the developing medical sector has augmented the demand for Medical Adhesives in the region. In addition to this, the growing research and development activities mainly in Japan is also adding to the market growth.
Industry/ Innovation/ Related News:
31 October, 2017- Avantor is expected to exhibit its advanced brand NUSIL in liquid silicone rubber technology and provide information on medical grade silicone adhesives, in COMPAMED, U.S. This technology is expected to increase its demand in the drug delivery applications.
11 January, 2018- Delphon industries a manufacturer of adhesives products has received an equity investment from PWP growth equity. This investment is set to accelerate in manufacturing operations and help in their research and development activities.
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