The Global Market for Medical Adhesives & Sealants is Projected to Reach US$16.7 Billion by 2024
Growing Preference for
Advanced Medical Adhesives and Sealants over Traditional Sealing Methodologies to
Drive Growth in the Global 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$16.7 billion by 2024, driven by technological advancements, growing adoption of advanced
medical adhesives and sealants over traditional sealing methodologies, volume
growth in surgical procedures, development of the healthcare infrastructure,
and increase in medical device manufacturing activity.
Medical Adhesives and Sealants are defined as advanced chemical
formulations intended for use in various bonding applications ranging from
medical device assembly to surgical closures. In
the medical device industry, adhesives and sealants are used in the manufacture
of devices and supplies. Few of the primary factors benefiting growth in this
application area include stringent device manufacturing standards, developing
healthcare infrastructure in emerging countries in sync with exploding demand
for medical services and products, establishment of new hospitals and
healthcare facilities, and growing investments in state-of-art medical
technology and equipment. In surgical applications,
medical adhesives and sealants play a vital role in surgical wound site closure
for controlling bleeding. With their bio-degradability, infection-free nature,
and safer application, these sealants gain higher utility than their
traditional counterparts. Rise in number of surgical
procedures as well as increasing popularity for minimally invasive treatments
across the globe continues to increase the demand for surgical adhesives and
sealants.
The growing miniaturization of medical devices
and complexity of modern technology is expected to further drive the demand for
advanced high performance adhesives in modern healthcare solutions. Wearable
medical devices form one of the emerging applications driving the healthcare
sector towards personalized, predictive and preventive care. Development of
environmentally-friendly and non-toxic medical-grade adhesives and sealants has
opened up new avenues for growth in the medical devices sector. The promising
outlook for the market is expected to result in the influx of new players and
investment from companies seeking to tap into the market opportunity. In the field of dentistry, demand for single component
adhesives, wherein the various components are premixed into the final formulation
is expected to register strong growth in future. Research is underway to
develop and evaluate new synthetic and natural material-based products with better
adhesion, biocompatibility and enhanced mechanical properties to overcome
shortcomings of existing adhesives and sealants. 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.
As
stated by the new market research report on Medical Adhesives &
Sealants, the
United States represents the largest market worldwide. Asia-Pacific ranks as
the fastest growing market with a CAGR of 10% over the analysis period, led by factors
such as growing population with growing healthcare needs, rise in number
of interventional surgical procedures, expanding
spending power of people on healthcare, and
increase in medical device manufacturing activity.
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, 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.
For
enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
To
connect with us, visit our LinkedIn page.
Comments
Post a Comment