Pune, March 24, 2023 (GLOBE NEWSWIRE) -- Based on SNS Insider analysis, as the demand for minimally invasive surgeries continues to rise, the demand for medical adhesives is expected to increase as well. As per SNS Insider, the Medical Adhesives Market had a value of USD 9.81 billion in 2022 and is anticipated to expand at a compound annual growth rate (CAGR) of 7.5% between 2023 and 2030, reaching USD 17.50 billion by the end of the forecast period.
Medical adhesives, also known as medical glues, are specialized materials used to bond or attach two surfaces together in the medical field. These adhesives are commonly used in surgical procedures, wound closure, and medical device manufacturing. Medical adhesives offer several advantages over traditional methods such as sutures, staples, or clips. They provide a stronger and more secure bond, reduce the risk of infection, and do not require removal like traditional methods.
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Medical Adhesives Market Report Scope
| Report Attributes | Details |
| Market Size in 2022 | US$ 9.81 Billion |
| Market Size by 2030 | US$ 17.50 Billion |
| CAGR 2023-2030 | 7.5% |
| Key Segments | • By Technology (Water based, Solvent based, Solids and Hot melts, Others) • By Natural resin (Collagen, Fibrin, Others) • By Synthetic and Semi-Synthetic resin (Cyanoacrylate, Epoxy, Acrylic, Polyurethane, Silicone, Others) • By Application (Dental, Surgery, Medical devices and equipment, Others) |
| Company Profiles | Henkel AG & Company, Chemence, Ashland Inc., Dow, B. Fuller, Johnson & Johnson, Cohera Medical, Inc.. Arkema Group, 3M, Avery Dennison Corporation, |
| Market Drivers | • An increase in the demand for medical single-use items. |
Market Analysis
The use of medical adhesives over traditional wound closure techniques such as stitches is predicted to drive the growth of the medical adhesives market in the future. This is because medical adhesives offer a faster operating speed, which is beneficial for healthcare providers and patients alike. This trend is evident in the market, as many players are adopting superior, cost-effective solutions with low maintenance and easy handling to gain a competitive advantage over their existing competitors in the industry. Moreover, technological innovations have led to the development of environment-friendly and biocompatible adhesives for surgical applications.
Impact of Russia-Ukraine Conflict
The ongoing conflict between Russia and Ukraine has had a significant impact on various industries and markets, including the medical adhesives market. Medical adhesives are used extensively in the healthcare sector, especially in wound care and surgical applications. The conflict has disrupted supply chains and trade relations between the two countries, which has resulted in a shortage of raw materials and finished products, leading to price hikes and product unavailability.
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Key Regional Development
The medical adhesives market in the Asia Pacific region is expected to experience the highest growth rate during the forecast period. The key drivers behind this growth include the region's large population, increasing healthcare awareness, and higher incidence of wound infections. Additionally, the significant number of diabetes patients in the region is also expected to contribute to the expansion of the medical adhesives industry. The Asia Pacific region is home to a rapidly growing population, which is expected to drive demand for medical adhesives. As healthcare awareness continues to increase, patients are becoming more informed about their treatment options, leading to a higher demand for medical adhesives that are safe, effective, and easy to use.
Key Takeaway from Medical Adhesives Market Study
- The water based segment of the market is expected to grow due to several factors, such as the increasing demand for advanced wound care products, rising incidence of chronic wounds, and the growing popularity of minimally invasive surgical procedures.
- The dental surgery segment is poised to experience significant growth in market due to the increasing demand for cosmetic dentistry, the rising prevalence of dental disorders, and the development of more advanced adhesive technology.
Recent Developments Related to Medical Adhesives Market
- Rotunda Capital Partners, a private equity firm based in Washington D.C., has recently announced its acquisition of Bron Tapes, a leading distributor of industrial adhesive tape products. The acquisition by Rotunda Capital Partners is expected to bring significant benefits to Bron Tapes, enabling the company to expand its reach and accelerate its growth.
- H.B. Fuller, a leading global adhesives provider, has recently announced the launch of a new bio-compatible adhesive specifically designed for medical applications. The new adhesive has been created to meet the growing demand for safe and effective medical adhesives that can be used in a range of applications.
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