Medical Adhesive Market Share, Size, Trend, Forecast, Analysis and Growth From 2022 to 2028

According to a new report published by UnivDatos Markets Insights, the Medical Adhesive Market is expected to grow at a CAGR of around 7% from 2022-2028. The analysis has been segmented into Resin (Natural, Synthetic, Semi-Synthetic); Technology (Water-Based, Solvent-Based, Solids and Hot Melt, Reactive & Others); Application (Dental, Medical devices & Equipment, Internal Medical Applications, External Medical Applications, Others); Region/Country.

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The medical adhesive market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the medical adhesive market. The medical adhesive market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the medical adhesive market at the global and regional levels.

Market Overview

The medical adhesive is used to bond medical products, such as syringes, dialysis filters, blood bags, and tube connections. These medical products are usually made from a range of synthetic materials, including plastics that are hard to bond, such as PEEK, PE, and PP. In addition, medical adhesives such as biocompatible medical adhesives are increasingly used in medical devices due to their non-cytotoxic, non-sensitizing, and non-irritating properties. Also, athletes use adhesives as they need hydrophobicity of silicone adhesives. As these qualities make them perfect to wear during water sports like diving, swimming, and other activities. Therefore, the above factors are responsible for the growth of the market.

The Medical Adhesive Market is expected to grow at a steady rate of around 7% owing to the increasing demand for wearable medical devices as there is a rise due to consumers’ increasing interest in fitness and healthy lifestyle and the increasing impact of progressive wellness. Major companies in the market offer medical adhesives for consumers with better material adoption and advanced features. For instance, in June 2020, the Band-Aid sub-brand of Johnson & Johnson launched a range of bandages in light and dark shades of black and brown bandages.

Some of the major players operating in the market include Baxter International Inc., 3M Company, Johnson & Johnson, Avery Dennison Corporation, Henkel AG & Co. KGaA, Ashland Inc., Cohera Medical Inc., Dymax Corporation, Dentsply Sirona, Adhezion Biomedical LLC.

COVID-19 Impact

Due to travel limitations and the projected dismal financial performance of market players in 2020, the spread of the COVID-19 pandemic has hurt the medical adhesive industry. Supply chain execution, regulatory and policy changes, labor reliance, working capital management, and liquidity and solvency management are all major concerns for medical adhesive product manufacturers. Since the COVID-19 epidemic has considerably diminished by the beginning of 2021, a lot of businesses are resuming operations. In addition, the medical adhesive market seems to have a negative impact on the market as the consumers were not properly able to get the adhesives due to less availability of raw materials or its making.

The global medical adhesive market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

·        Based on resin, the market is segmented into natural, synthetic, and semi-synthetic. The synthetic category is to witness a higher CAGR during the forecast period. One of the synthetic resins is silicone resin which is highly preferred in the making of medical adhesives. Silicones are made from pure silicon metal obtained from the reduction process of silica sand and coke. In addition, silicones are available in the form of silicone fluids, gels, elastomers, and resins. For instance, in April 2021, 3M announced a new addition to a new class of silicone adhesives, the 2484 3MSingle, Coated Medical Film Tape with Hi-Tack Silicone Adhesive on Liner, which is secure and gentle to assist support device compliance by end-users. The latest 2484 3M Hi-Tack Silicone Adhesive is conformable, breathable, minimizes skin cell removal, and allows over seven-day wear time that makes it an ideal choice to be used on fragile skin

·        On the basis of technology, the market is categorized into water-based, solvent-based, solids and hot melt, reactive & others. Among these, solids and hot melt to hold a significant share of the market in 2021. This is mainly due to its 100% solids bonding agent quality which is applied in the molten state that forms bonds when cooling. Its formulation always includes three main raw materials: Polymers such as ethylene, copolymers, etc. For instance, in May 2022, Bostik's launched their new adhesives named Ethylene Vinyl Acetate (EVA) and Polyolefin (PO) Hot Melt Adhesives that are convenient and satisfy environmental requirements

·        Based on application, the market is segmented into dental, medical device & equipment, internal medical applications, external medical applications, and others. The medical device and equipment application segment is predicted to be the fastest-growing application in the global market in the coming years. This is mainly because of its some applications as it cures in seconds when exposed to UV/visible light, high bond strength, optimized installation speed ensures faster processing, and better and more efficient overall performance while remaining cost-effective. These adhesives are guaranteed to withstand the rigors of the product's end use and meet all major regulations. For instance, in Feb 2023, 3M launched a new medical adhesive offering premium wear time, up to 28 days, and is intended for use with a wide array of health monitors, sensors, and long-term medical wearables. Henkel Loctite AA 3921 UV Medical Adhesive is a light-cured, acrylic-based adhesive that is formulated to provide flexible and durable bonds when joining stress-sensitive plastics. Typical applications of AA 3921 include bonding stainless steel cannulae into hubs, syringes, and lancets for needle assemblies

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Medical adhesive Market Geographical Segmentation Includes:

·        North America (U.S., Canada, and Rest of North America)

·        Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)

·        Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)

·        Rest of the World

Asia-Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the large population in the Asia Pacific along with growing healthcare awareness and a higher rate of wound infections are the major growth factors for this region. Also, China is the largest consumer of medical adhesives in this region as this country is densely populated which is driving the growth of the market. In addition, many diabetes patients or growing accidental cases in the region are also likely to act as contributing factors to the expansion of the medical adhesives industry. In addition, the government is also investing in creating new opportunities in the market. For instance, the Indian government is likely to implement policy measures such as public health expenditure to 2.5% of GDP by 2025; implementation of several large-scale and ambitious initiatives like Ayushman Bharat; commitment from the Government to invest USD 200 Billion in medical infrastructure by 2024 as well as the roll-out of various schemes under the AatmaNirbhar Bharat Abhiyaan to drive region's healthcare sector. India and Russia have set a bilateral trade target of US$ 30 billion by 2025. Trade is expected to increase by an additional US$ 5 billion per annum, with opportunities in pharmaceuticals & medical devices, minerals, steel, and chemicals which are escalating the growth of the market. Hence, Asia-Pacific is growing owing to the increase in population and the need for better medical facilities in the region

The major players targeting the market include

·        Baxter International Inc.

·        3M Company

·        Johnson & Johnson

·        Avery Dennison Corporation

·        Henkel AG & Co. KGaA

·        Ashland Inc.

·        Cohera Medical Inc.

·        Dymax Corporation

·        Dentsply Sirona

·        Adhezion Biomedical LLC

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the medical adhesive market. The major players have been analyzed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the medical adhesive market?

• Which factors are influencing the medical adhesive market over the forecast period?

• What are the global challenges, threats, and risks in the medical adhesive market?

• Which factors are propelling and restraining the medical adhesive market?

• What are the demanding global regions of the medical adhesive market?

• What will be the global market size in the upcoming years?

• What are the crucial market acquisition strategies and policies applied by global companies?

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