Growing focus of adhesive manufacturers to enhance the durability, extended wear times, and flexibility of adhesives are propelling the demand for medical adhesives. IndustryARCs freshly complied business intelligence report says that the global medical adhesives market was valued at $9.59 billion in 2018. The demand for medical adhesives is set to grow at a healthy CAGR of 8.34% over the forecast period 2019-2025, due to the lucrative opportunities available in the health economy.
The global medical adhesives market report incorporates an in-depth assessment of the different natural resin types used in the manufacturing of medical adhesives. Furthermore, it describes about several formulating technologies involved in the production of varied medical adhesives. This report also provides dynamics such as driving factors, opportunities which impact the market. IndustryARC’s report is titled, “Medical Adhesives Market: By Natural Resin Type (Collagen, Fibrin, Albumin); Synthetic & Semi-Synthetic Type (Acrylic, Cyanoacrylate, Epoxy, Silicone, Poly Ethylene Glycol) Formulating Technology (Water, Solid & Hot Melt & Solvent Based) & Geography - Forecast(2019 - 2025).”
Medical Adhesives Market: Leading Segments
Baby boomers are shaping America’s older population, population reference bureau estimated more than 98 million baby boomers will be present by 2060 in this region. Geriatric population is more prone to medical adhesive-related skin injury, thus it increases the necessity of medical adhesives which engage with skin changes. Furthermore, North America held its position as the dominating region, accounts for a regional share of 44% of the global medical adhesives market as of 2018.
Collagen act as a principal source in the medical applications, because of its excellent biocompatibility, biodegradability, and low immunogenicity. Righteous physical and mechanical properties of this new tissue engineering material have made it elevate as the most promising wound dressing biomaterial, as it improves the wound healing process. Therefore, collagen is projected to grow with a CAGR of 7% during the above-mentioned forecast period.
Medical Adhesives Market: Disruptive Trends
o The rise in the count of the aging population across the world, act as a growth-promoting factor of the global medical adhesives market.
o Emerging wearable medical devices, owing to their real-time data collection are fuelling the growth rate of adhesives.
o New adhesive formulations such as silicone gel adhesives, polyurethane gels, hydrocolloid adhesives and rubber-based adhesives are widely used in wound care applications, because of their breathable, moisture-resistant, long-lasting and skin friendliness formulation.
o Pressure-sensitive skin adhesive is highly used in future iterations such as wound care dressings, ostomy accessories, and wearable devices. The excessive progression of advancements in skin adhesives is currently boosting the growth of medical adhesives market.
Medical Adhesives Market: Competitive Landscape
Henkel AG & Company, 3M Company, CryoLife, Inc., Cyberbond LLC, Ethicon Inc., B. Braun Melsungen AG, Covidien Ltd., GluStitch Inc., Chemence Ltd., Adhezion Biomedical, Cohera Medical, Inc., Gem S.r.l, Meyer-Haake Gmbh, Baxter International Inc., and Biocoral, Inc., are the key medical adhesives market share players operating in the global medical adhesives market.
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