The Global Market for Medical Adhesives & Sealants is Projected to Reach US$15.3 Billion by 2022

Growing Healthcare Spending Higher Than World GDP Growth Drives the Medical Adhesives & Sealants Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Medical Adhesives & Sealants market. The global market for Medical Adhesives & Sealants is projected to reach US$15.3 billion by 2022, driven by growing healthcare spending which continues to outstrip anemic global economic growth.

The use of medical adhesives and sealants is largely influenced by the growth of the healthcare and the medical device manufacturing industry. Broad macro trends that act as secondary market forces influencing growth in the market include aging population, rise in diseases and healthcare needs, growing importance of diagnosis and diagnostics, development of the healthcare infrastructure, and increase in medical device manufacturing activity, among others. Defined as advanced chemical formulations intended for use in various bonding applications ranging from medical device assembly to surgical closures, medical adhesives and sealants are critical consumables in healthcare. Over the decades, medical adhesives and sealants have witnessed massive technological advancements and improvements in bonding strength, versatility, staying power, tissue biocompatibility and biodegradation. The development of biocompatible adhesives and sealants, including bioresorbable medical adhesives, has especially revolutionized the use of these materials in surgical applications. The promising rise of regenerative medicine is expected to further spur technology and R&D interest in newer, next generation adhesive and sealants as smart engineered biomaterials.

Global healthcare spending continues to outstrip world GDP growth led by long-term national level goals in most countries worldwide to provide more equitable, responsive and efficient healthcare services. In comparison to the anemic YoY growth in world GDP for the last five years post-recession, the healthcare industry is one of the few industries to be out-of-rhythm with the global macro-economic environment and trends with projected growth at over 6% YoY in the coming years. While all other industries walk the economic tight rope, the healthcare industry remains an exception. Health spending per capita has witnessed unabated growth across OECD countries as these countries focus on developing, modernizing and upgrading their health systems. Some of the major factors spurring the spending growth include societal aging in developed economies, changing lifestyle trends in emerging nations which are aggravating the decline in health status and posing serious risk factors to health, catch-up growth in developing markets with immature health infrastructure, and national and political level focus on healthcare quality. Other major factors driving growth in the market include growing number of surgeries performed worldwide; rapid replacement of conventional intracutaneous sutures and staples with adhesives, sealants and glue; growing prominence of adhesive dentistry; growing demand for sterilization resistant adhesives; and expanding commercial opportunities for biodegradable, biocompatible and elastic sealants. The shift to value-based healthcare is additionally driving demand for advanced, highly functional adhesives and sealants

As stated by the new market research report on Medical Adhesives & Sealants, the United States represents the largest market worldwide. Technological advancements, rising number of vascular, pulmonary and cardiovascular surgeries, and reshoring of medical device manufacturing are factors supporting the country’s dominance. Asia-Pacific ranks as the fastest growing market with a CAGR of 11.6% over the analysis period, led by factors such as developing healthcare infrastructure, emergence of the region as the chief manufacturing center for medical devices and components, rise in medical tourism and the ensuing spurt in surgical interventional procedures.   

Major players in the market include 3M Company, Adhesives Research, Inc., Advanced Medical Solutions Group plc, B. Braun Melsungen AG, Baxter International, Inc., C. R. Bard, Inc., Cohera Medical, Inc., CryoLife, Inc., Dentsply Sirona Inc., HemCon Medical Technologies, Inc., Integra Life Sciences Corporation, Johnson & Johnson, Ethicon, Inc., Kerr Corporation, Medtronic Plc, Procter & Gamble Company, Sealantis Ltd., and Vivostat A/S, among others.

The research report titled “Medical Adhesives & Sealants: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product groups/segments analyzed include Synthetic Adhesives & Sealants (Acrylic, Cyanoacrylate, Silicone, and Others), and Natural Adhesives & Sealants (Albumin, Collagen, Fibrin, and Others). Key application areas analyzed in the report include Dental and Medical.

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