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Medical Adhesives Market to Generate Revenue Worth $16,367.2 Million by 2030

Published Date:   June 2020

Rise in demand for medical disposable products, devices, and equipment is the major driver propelling the growth of the global medical adhesives market. This is ascribed to the rising number of patients that undergo surgery or long-term chronic care therapy, drug delivery, and other medical applications. Furthermore, rising concerns for infection prevention and several safety measures taken by hospital and other facilities have fueled the utilization of medical devices.

The high consumption of these products is expected to fuel the consumption of medical adhesives over the coming years, which have significant proportion in manufacturing of those products. Due to these factors, the global medical adhesives market is expected to generate $16,367.2 million revenue by 2030, advancing at a CAGR of 2.3% during the forecast period.

Furthermore, COVID-19 pandemic has severely impacted many markets across the globe, but it has affected positively to the medical adhesives market, owing to high healthcare expenditure and high production of medical products and healthcare equipment, during this pandemic time.

Hot Melt & Other Solid to Hold the Largest Revenue Share in the Market throughout the Forecast Period

The medical adhesives market on the basis of technology is classified into water-based, solvent-based, and hot melt & other solids. Of these, the hot melt & other solids category is expected to lead the market in the coming years. This is ascribed to the various application areas of hot melt, reactive, and other type of solid adhesives, including dental operations, internal medical applications, and wound healing external medical application.

In addition, the flexibility offered by the hot melts to bond on both smooth and rough surfaces is one the major driving factors to help the category to grow rapidly in both historical and forecast period with significant CAGR.

The medical adhesives market in terms of application is categorized into internal medical application, external medical application, dental, medical devices & equipment, and others. The internal medical application is expected to hold the largest revenue share during the forecast period. This can be due to the high adoption of bio-adhesives in intracorporal conditions, which require direct contact to organs, tissues, and body fluids.

Geographically, the medical adhesives market in North America is expected to witness lucrative growth, owing to continuous requirement for the medical devices, equipment syringes, needles, thermometers, surgical suture, first-aid kits, stretchers, plastic tubes, PPE products, and several other medical supplies. The demand for these products is expected to increase with growing population in the region, which, in turn, would widen the growth potential of medical adhesives in the region.

Browse report overview with detailed TOC on "Medical Adhesives Market Research Report: By Resin (Acrylic, Cyanoacrylate, Rubber, Silicone, Epoxy, Polyurethane, Natural), Technology (Water-Based, Solvent-Based, Hot Melt & Other Solids), Application (Internal Medical Application, External Medical Application, Dental, Medical Devices & Equipment) - Global Industry Analysis and Demand Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/medical-adhesives-market-report

Product Launches Is the Strongest Strategic Measure Taken by the Players in the Market 

Key players in the medical adhesives market are increasingly introducing new products to enhance their market presence. For instance, in December 2018, 3M company expanded its line-up of advanced adhesives for medical devices with the launch of single-coated medical extended wear adhesive nonwoven tape on liner (3M 4077). It is a pressure sensitive water-resistant adhesive that offers omni-directional stretch for conformability and breathability with excellent initial skin adhesion and a 14-day wear time.

Similarly, in September 2018, Henkel AG & Co. KGaA launched a comprehensive portfolio of adhesive materials for applications in healthcare. The products include new light-emitting diode (LED) curing adhesives for flexible medical devices, a range of advanced pressure-sensitive adhesives for plasters and functional patches as well as conductive inks for smart health devices.

Some of the major players operating in the global medical adhesives market are H.B. Fuller Company, Henkel AG & Co. KGaA, Arkema Group, Avery Dennison Corporation, Master Bond Inc., Ashland Global Holdings Inc., The Dow Chemical Company, 3M Company, Baxter International Inc., and Cryolife Inc.