Medical Adhesives Market Report by Resin Type (Arcylic, Silicone, Polyurethane, Epoxy, Others), Application (Dental, Medical Device & Equipment, External, Internal, Others), Technology (Water-Based, Solvent-Based, Hot-Melt,Reactive, Others), Countries and Company Analysis 2024-2032

Driving forces for medical adhesives

Rising elderly population—The medical adhesives industry is growing due to the world's aging population. More surgical procedures are frequently needed to treat chronic illnesses and age-related disorders in the elderly. Medical adhesives, which have advantages over traditional closure methods, including less tissue stress, faster healing, and better esthetic results, are essential for managing wound care and surgical operations in this population. Medical adhesives are becoming indispensable in contemporary healthcare practices as the demand for cutting-edge medical solutions that improve surgical results and overall patient care rises along with the aging population. For instance, the Department of Economic and Social Affairs projects that 703 million individuals worldwide were 65 or older in 2019. This figure will rise to 1.5 billion by 2050, a growth rate of 16%.

Increasing Awareness of Oral Hygiene to Promote Dental Fixture Adhesive Growth-Due to patients' growing awareness of the need to maintain good oral health, the use of medical adhesives and sealants in the disciplines of prosthodontics, periodontics, and dental implants has significantly increased in recent years. Better dental care techniques have emerged due to technological and equipment advancements in the dental field, which have also superseded traditional dental care treatments. In dental treatment, the use of adhesives to secure dentures and offer stability by preventing them from slipping out has significantly increased.

Increasing Surgical Procedures- The increase in surgical procedures performed worldwide drives the need for medical adhesives. This is because medical adhesives, as opposed to traditional closure methods like sutures, minimize problems, shorten recovery times, and improve cosmetic outcomes. Medical adhesives enable smaller incisions and better tissue sealing, which contributes to the trend toward minimally invasive surgeries. Adhesive formulations have become more technologically advanced, increasing their usefulness in many surgical specialties and their adoption. Medical adhesives substantially impact surgical results and can be a cost-effective and efficient option, which is why their global market is growing.

Technological advancements: The medical adhesives industry is expanding mainly due to technological developments. Advancements in adhesive compositions have yielded goods that exhibit improved biocompatibility, flexibility, and robustness, broadening their uses across diverse medical fields. Advanced adhesives minimize tissue stress, lower the risk of infection, and encourage quicker healing, improving surgical outcomes. These developments also allow medical adhesives to comply with strict regulatory standards and change to suit changing healthcare demands, such as the growing need for minimally invasive operations. Medical adhesives are expected to make a significant global contribution to current surgical techniques as long as technology keeps developing.

Asia Pacific Medical Adhesives Market

Asia Pacific is anticipated to grow at the quickest rate among regional markets throughout the projection period. The primary forces behind the Asia Pacific region's rise are its large population, rising healthcare awareness, and higher risk of wound infections. The high percentage of diabetes patients in the area is anticipated to support expanding the medical adhesives industry.

According to the UN, the Asia-Pacific region is home to 60% of the world's population. Moreover, most of the world's diabetes patients reside in Asia Pacific. About 60% of all type 1 diabetes cases worldwide, according to the Asia Pacific Diabetes Prevention Organization, are found in this region. This fuels the need for medical adhesive items such as transdermal insulin patches and others.

The IBEF projects that India's healthcare market will generate USD 372 billion by 2022. From USD 4 trillion in 2017, the healthcare industry in India is predicted to grow at a 17% CAGR to USD 8.6 trillion by 2022. Future demand for healthcare services is expected to be driven by rising income levels, expanding access to insurance, and a greater understanding of health and preventative treatment.

The medical adhesives market in India is anticipated to be significantly influenced by these positive developments in the healthcare sector. The demand for medical adhesives in India is likely to rise due to the government's increased spending on healthcare. For instance, this spending increased from 1.8 percent of GDP in FY2021–22 to 2.1 percent in FY2021-22, citing the Economic Survey for 2022. Growingly advantageous government policies are also anticipated to support India's healthcare sector, which will impact the expansion of the medical adhesives market. For instance, Ayushman Bharat is designed to help low-income and vulnerable families. It covers up to INR 5 lakh in secondary and tertiary hospitalization per home.

Medical Adhesives Company Analysis

The top medical adhesives companies are H.B. Fuller Company, Henkel AG & Co. KGaA, Avery Dennison Corporation, Ashland Global Holdings Inc., The Dow Chemical Company, 3M Co, PPG Industries, and Dupoint De Nemours Inc.

Medical Adhesives Company News

Dec 2022: 2480 3M Single Coated Medical Nonwoven Tape with Hi-Tack Silicone Adhesive on Liner has been introduced by the 3M corporation.

June 2022: To broaden its presence in the area and boost adhesive and sealant production capabilities, Henkel AG & Co. KGaA established an adhesive manufacturing facility in Mexico.

July 2021: Baxter International has acquired the PerClot Polysachharide Hemostatic System from CryoLife, Inc. for up to USD 60.8 million.

FAQs

Question:    What is the current market size of the medical adhesives market?

Answer:     The global medical adhesives market was valued at approximately US$10.02 Billion in 2023 and is expected to grow at a CAGR of 7.19% from 2024 to 2032.

Question:    What are the main types of medical adhesives available in the market?

Answer:     The market includes adhesive types such as Arcylic, Silicone, Polyurethane, Epoxy adhesives each suited to different medical applications.

Question:    What are the key drivers for the growth of the medical adhesives market?

Answer:     Factors driving growth include the aging population, increasing healthcare expenditure, technological advancements in adhesive formulations, and the rising prevalence of chronic wounds.

Question:    What are the challenges faced by the medical adhesives market?

Answer:     Challenges include stringent regulatory requirements, high competition, and the need for ongoing research and development to meet evolving medical needs.

Question:    Who are the major players in the medical adhesives market?

Answer:     Major players include H.B. Fuller Company, Henkel AG & Co. KGaA, Avery Dennison Corporation, Ashland Global Holdings Inc., The Dow Chemical Company, 3M Co, PPG Industries and Dupoint De Nemours Inc.

Resin Type– Market breakup in 5 viewpoints:

1. Arcylic
2. Silicone
3. Polyurethane
4. Epoxy
5. Others

Application– Market breakup in 5 viewpoints:

1. Dental
2. Medical Device & Equipment
3. External
4. Internal
5. Others

Technology– Market breakup in 5 viewpoints:

1. Water-Based
2. Solvent-Based
3. Hot-Melt
4. Reactive
5. Others

Country – Market breakup of 25 Countries:

1. North America

1.1    United States

1.2    Canada

2. Europe

2.1    France

2.2    Germany

2.3    Italy

2.4    Spain

2.5    United Kingdom

2.6    Belgium

2.7    Netherland

2.8    Turkey

3. Asia Pacific

3.1    China

3.2    Japan

3.3    India

3.4    South Korea

3.5    Thailand

3.6    Malaysia

3.7    Indonesia

3.8    Australia

3.9    New Zealand

4. Latin America

4.1    Brazil

4.2    Mexico

4.3    Argentina

5. Middle East & Africa

5.1    Saudi Arabia

5.2    UAE

5.3   South Africa

6. Rest of the world

All the key players have been covered from 4 Viewpoints:

• Business Overview
• Product Portfolio
• Recent Development & Strategies
• Revenue Analysis

Key Players Analysis:

1. B. Fuller Company
2. Henkel AG & Co. KGaA
3. Avery Dennison Corporation
4. Ashland Global Holdings Inc.
5. The Dow Chemical Company
6. 3M Co
7. PPG Industries
8. Dupoint De Nemours Inc.

Report Details: