Increasing utilization of medical adhesives and sealants for internal and external surgeries and advancements in medical adhesives and sealants are some key factors driving market revenue growth
medical adhesives and sealants Market Size – USD 8.61 Billion in 2020, Growth – at a CAGR of 7.0%, Trends – Rising demand for telehealth solutions
The global medical adhesives and sealants market size is expected to reach USD 14.78 Billion in 2028 and register a revenue CAGR of 7.0% over the forecast period, according to the latest report by Reports and Data. Market revenue growth is primarily driven by factors such as increasing utilization of medical adhesives and sealants for internal and external surgeries and rising demand for Personal Protection Equipment (PPE) and drug delivery devices globally. Medical adhesives and sealants such as cyanoacrylate are replacing sutures in external applications as these are single-component, catalyst-free adhesives and sealants, which are capable of bonding at room temperature within a few seconds. These adhesives and sealants require no external initiation and solely rely on the small amounts of adsorbed chemical and water on the surface of the tissue for healing. Recent advancements in medical adhesives and sealants is enabling deployment in newer applications such as for medical joining and bonding, including medical device assembly, bonding human tissue, wound care, and in drug delivery system applications. These factors are expected to continue to drive revenue growth of the market during the forecast period.
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Top Companies: Ethicon, Inc. (Johnson Johnson), Henkel AG Co. KGaA, 3M, Baxter International Inc., Nitto Denko Corporation, B. Braun (B. Braun Melsungen), H.B. Fuller Company, Bostik (Arkema), Chemence, and CryoLife, Inc.
Further Key Finding from the Report Suggestion:
- In February 2021, Henkel Adhesive Technologies announced the expansion of its strategic partnership with Quad Industries. The partnership was expanded in order to provide support and capacities for prototyping and technological value creation with printed electronics solutions across multiple industries. With the partnership, the companies are aiming to strengthen the creation of printed electronics solutions such electronic skin patches. Smart health patch was developed by Belgium-based Byteflies, together with Henkel, and Quad Industries and four other medical and technology companies for remote patient monitoring.
- Synthetic semi-synthetic resin segment is expected to account for largest revenue share in the global medical adhesives and sealants market over the forecast period. Wide usage of synthetic semi-synthetic resins for assembling and sealing medical devices and parts is expected to boost revenue growth of this segment.
- Reactive other technologies segment is expected to register significant revenue growth over the forecast period. Reactive other technologies such as self-cured composite resin helps in restoring deeper cavities, those with dentinal gingival margin, and for occlusal restorations, which is increasing its utilization in dental applications.
- Dental segment is expected to account for a considerably large revenue share in the global medical adhesives and sealants market owing to growing awareness regarding oral hygiene and rising popularity of cosmetic dental procedures like tooth bleaching, enamel bonding, dental veneers, Invisalign braces, and enamel abrasion.
- The medical adhesives and sealants market in North America is expected to account for largest revenue share over the forecast period. Growing geriatric population in the region and increasing prevalence of chronic diseases such as cardiovascular diseases is driving rising utilization of medical adhesives and sealants in internal surgeries.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
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The global Medical Adhesives and sealants market is segmented into:
Resin Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- Natural Resin Type
- Synthetic Semi-Synthetic Resin Type
Technology Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- Solid Hot-melt Based
- Reactive Others
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
- External Surgery
- Internal Surgery
- Medical Devices Equipment
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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