PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498806
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498806
Medical Adhesives Market size was valued at USD 8,951.2 Million in 2023, expanding at a CAGR of 7.20% from 2024 to 2032.
Medical adhesives are a special type of adhesive specifically developed and engineered to stick to human skin. They are biocompatible, non-irritating, non-sensitizing, and non-cytotoxic, and so they are primarily used in medical devices. Various medical adhesives, such as dressings, tapes, and tools, are used to protect and cover wounds, seal the skin edge of a wound, or support an injured body part.
Medical Adhesives Market- Market Dynamics
Medical Adhesives Surpass Stitches for Wound Closure, Driving Market Growth
Faster working speeds, combined with the usage of medical adhesives over traditional wound closure procedures such as sutures, are likely to drive future market growth. To gain a competitive advantage over present competitors in the field, market companies are rapidly developing better yet cost-effective solutions that require less maintenance and are simple to use. Technological breakthroughs have enabled the development of ecologically friendly and biocompatible surgical adhesives. Medical adhesives are presently used in a variety of applications, including medical device assembly and internal and external medicinal usage. Instead of stitches, cyanoacrylates are being utilized to treat skin wounds. The advantage of these solutions is that they can cover the entire wound. This method stops further bleeding and hence reduces the danger of infection.
Medical Adhesives Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.20% over the forecast period (2024-2032)
Based on Type segmentation, the Sensitive Adhesives segment is the largest in the Medical Adhesives market in the year 2023
Based on Resin segmentation, Synthetic adhesives were the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Medical Adhesives Market is segmented on the basis of Type, Resin, Application, and Region.
The market is divided into three categories based on Type: Sensitive adhesives, Dissolvable adhesives, and Electrical conductive adhesives. The largest segment of the Medical Adhesives Market is the Sensitive Adhesives segment. Sensitive adhesives are used in a variety of medical applications because of their gentle and skin-friendly attributes, which make them a strong choice in the medical field. Their biocompatibility, hypoallergenic nature, and ability to secure bonding while being gentle on the skin have contributed to their large market share in the sector of medical adhesives.
The market is divided into two categories based on Resin: natural adhesives and Synthetic adhesives. Synthetic adhesives are the dominating segment, with the biggest market share, owing to their superior performance versus natural adhesives. Furthermore, synthetic adhesives can be customized to meet specific needs and outperform natural adhesives.
Medical Adhesives Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The North American region dominates the market, accounting for more than 25% of the Medical Adhesives Market Share during the projection period. This area is driving market expansion due to its significant expenditure in medical device invention and development, as well as the presence of the leading pharmaceutical industry.
During the forecast period, Asia Pacific is expected to be the fastest-growing regional market. The Asia Pacific region's large population, increased healthcare awareness, and higher risk of wound infections are the key growth drivers. The region's significant diabetic population is also expected to help to the growth of the medical adhesives market.
Major market players such as Ashland Inc., B. Fuller, Johnson & Johnson, 3M, and Henkel AG & Company, among others, are investing heavily in research and development to expand their product lines, which will help the Medical Adhesives market grow even further. Market companies are also pursuing a variety of strategic measures to increase their worldwide footprint, including novel product releases, mergers and acquisitions, contractual agreements, increased investment, along with collaboration with other companies. To expand and survive in a more competitive and rising market climate, competitors in the medical adhesives sector must offer cost-effective products.
In October 2023, DuPont created the Chinese-language regional website Liveo. Dupont.cn for its DuPontTM LiveoTM Healthcare Solutions brand. The new facility will assist meet China's demand for high-quality, high-performance healthcare items.
GLOBAL MEDICAL ADHESIVES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Ashland Inc.
B. Fuller
Johnson & Johnson
3M
Henkel AG & Company
Chemence
Arkema Group
Dow
Avery Dennison Corporation
Cohera Medical Inc.
Others