Press Release Description

Market for Medical Adhesives to Escalate Due to Adoption in Medical Surgeries

The Global Medical Adhesives Market is projected to grow at a CAGR of 25% in the forecast period of 2023-28, cites MarkNtel Advisors in their recent research report. The mounting use of adhesives for cardio-vascular surgeries & orthopedic surgeries, their wide application in oral care to fix dentures, and their growing demand for manufacturing protective wear like medical masks, etc., are the prime aspects projected to drive the market in the coming years. In addition, the usage of bio-compatible adhesives is gaining traction due to the presence of fewer toxic substances, which are non-cytotoxic, non-sensitizing, and non-irritating functionalities. Therefore, medical equipment & wearable manufacturers are also mitigating the biocompatible medical adhesives, thereby driving the market.

Further, the growing number of chronic illnesses has led to a boom in the sales of wearable medical devices, i.e., amplifying the demand for medical adhesives with the rapidly increasing production of these devices. In addition to these adhesives are primarily used for assembling medical devices. Hence, the increased adoption of medical adhesives by manufacturers to assemble equipment, such as drug-delivery devices such as syringes, injectors, etc., is driving the market.

Moreover, medical practitioners & doctors are also shifting towards medical adhesives for medical surgeries & a variety of other surgical applications. Medical adhesives, including tissue adhesives, glues, etc., are gaining traction since they are used as an alternative for stitches to staple or close wounds. Therefore, with the rising number of surgeries such as plastic surgeries, orthopedic surgeries, cardiovascular surgeries, etc., the surge in the requirement for these adhesives has also been observed. Moreover, the demand for these adhesives is expected in the forecast years owing to the adoption of skin adhesives to provide long-term protection in the case of wounds, post-surgery healing, etc.

Synthetic & Semi-synthetic Resin Acquired Significant Market Share Due to their Superior Healing Properties

Based on Resin, the market is further classified as Natural & Synthetic & semi-synthetic resin-type. Of them, Synthetic & semi-synthetic resin-type gained a notable share owing to the wide adoption of adhesives by doctors, & medical practitioners due to their functionalities. Synthetic & semi-synthetic resins are widely used in medical surgeries & post-operative treatment rather than conventional or natural resin since they provide higher resistance against shocks & impacts.

Global Medical Adhesives Market

Further, the growing instances of surgical procedures across the globe would also accelerate the demand for synthetic resins since the unique combination of chemical & physical properties of these resins is used for bonding traumatized tissues, hence contributing to the market growth in the forthcoming years.

With Expanding Manufacturing Units of Medical Devices, Asia-Pacific Acquired a Notable Market Share

Geographically, Asia-Pacific acquired a significant share in the Global Medical Adhesives market owing to the presence of manufacturing facilities for medical equipment & supplies in the region. The primitive reason for the presence of these production units is the availability of labor at a significantly lower price, thereby making Asia-Pacific favorable for the medical equipment manufacturing industries. The presence of these industries significantly expands the demand for medical adhesives to assemble medical equipment.

Additionally, the government-led initiatives in the countries such as Malaysia, Singapore, etc., to set up manufacturing units of medical devices to provide better medical facilities would also accelerate the necessity of medical adhesives. Therefore, the market is expected to grow in the Asia-Pacific region in the forecast years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Ethicon, Inc., Henkel AG & Co. KgaA, Baxter International Inc., Nitto Denko Corporation, B. Braun Melsungen AG, Adhezion Biomedical, LLC, Covidien (Medtronic), Dentsply Sirona, Advanced Medical Solutions Group PLC, Becton Dickinson (BD), Avery Dennison Corporation, Ashland Inc, Arkema Group, Chemence, Cohera Medical Inc., Others (GluStitch, GEM S.R.L., etc.), are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends that have shaped the industry to its current form?
  3. What key factors would propel and impede the industry across the region?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition shaped across various regions, followed by their comparative factorial indexing?
  6. How have buying behavior, customer inclination, and expectations from product manufacturers evolved during 2018-28?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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