(MENAFN- GlobeNewsWire - Nasdaq) The rise in demand for Medical Adhesives-based healthcare products continues to accelerate due to advancements in scientific research and increasing consumer awareness about Medical Adhesives' benefits.
Austin, Oct. 28, 2024 (GLOBE NEWSWIRE) -- What is the growth of the Medical Adhesives market?
The Medical Adhesives market Size was valued at USD 10.5 billion in 2023 and is expected to reach USD 20.2 billion by 2032 and grow at a CAGR of 7.5% over the forecast period 2024-2032.
The medical adhesives market is experiencing significant growth driven by the rising demand for advanced wound care, surgeries, and minimally invasive treatments, alongside the increasing prevalence of chronic diseases requiring effective wound management. Innovations in adhesive formulations are enhancing their performance and application, contributing to better patient outcomes, especially as the aging geriatric population requires more extensive medical care. Recent developments underscore this progress: in December 2023, a surge in demand was noted due to advancements in adhesive technology, with companies like 3M focusing on specialized products for sensitive skin and faster healing. Similarly, Wissen Research introduced innovations to improve the usability, biocompatibility, and user-friendliness of medical adhesives, aligning with the trend toward patient-centered care. Additionally, in August 2024, Avery Dennison launched a learning center for medical wearable adhesives and secured FDA clearance for two new high-viscosity tissue adhesives, reinforcing the industry's commitment to effective solutions that enhance patient care and surgical outcomes.
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Top 10 Companies Operating in the Medical Adhesives Industry Worldwide
3M Henkel AG Medtronic Stryker Corporation Baxter International DuPont B. Braun Melsungen AG H.B. Fuller Company Adhesive Technologies Collagen Solutions PLC Which segment dominated the Medical Adhesives Market?
In 2023, the water-based segment dominated the Medical Adhesives Market, accounting for approximately 45% of the total market share. This segment's dominance is attributed to its versatility, ease of use, and compatibility with various substrates, making it highly suitable for wound care and surgical applications. Water-based adhesives are preferred for their non-toxic properties and minimal environmental impact, which aligns with the growing trend toward sustainable healthcare solutions.
Key Segments:
By Product Type
Natural Fibrin Collagen Albumin Synthetic and Semi-Synthetic Cyanoacrylate Epoxy Acrylic Polyurethane Silicone Others
By Technology
Water-based Solvent-based Solids and Hot melts Others
By Application
Dental Denture Bonding Agents Pit and Fissure Sealants Restorative Adhesives Luting Cements Internal Medical Applications Surgical Procedures Organ Transplants Tissue Engineering External Medical Applications Wound Care Prosthetics
By End-User
Hospitals Clinics Ambulatory Surgical Centers Others
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What are the driving factors of the Medical Adhesives market?
The Medical Adhesives market is witnessing robust growth, primarily due to the following driving factors:
The increase in chronic wounds, burns, and surgical wounds necessitates effective and safe adhesive solutions. Medical adhesives facilitate faster healing, reduce infection rates, and enhance patient comfort, thereby becoming a staple in modern wound care management. Innovations in adhesive formulations and application techniques are enhancing product performance. New biocompatible adhesives are being developed to minimize tissue trauma and promote healing, which is critical for surgical and post-operative care. The shift towards minimally invasive surgeries is increasing the demand for medical adhesives, as they provide strong bonding capabilities without the need for sutures or staples. This trend is expected to continue, driving further growth in the market.
What are the opportunities in the Medical Adhesives market?
The rising healthcare infrastructure and demand for advanced medical solutions in emerging economies present significant growth opportunities. Investing in these regions can lead to increased market penetration and revenue generation. With the growing emphasis on sustainability, there is an opportunity for manufacturers to innovate and produce environmentally friendly adhesives. Products that combine efficacy with eco-consciousness are likely to attract a broader consumer base.
Which region dominated the Medical Adhesives market?
In 2023, North America dominated the Medical Adhesives Market with a 40 % share, driven by advanced healthcare infrastructure, high surgical procedure rates, and robust research and development activities. The United States significantly contributes to this dominance through continuous innovation in medical technology and a strong demand for advanced wound care solutions. Leading manufacturers are focusing on developing biocompatible, high-performance adhesives for surgical and wound care applications. Additionally, the rising prevalence of chronic conditions necessitating surgical interventions further boosts demand for effective medical adhesives, reinforcing North America's position as the market leader.
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Recent Developments:
March 2024: Delo launched a new biocompatible adhesive for bio applications, expanding its medical portfolio to meet the increasing demand for safe materials in the sector. March 2024: Tela Bio introduced a new line of medical adhesives in the U.S. to improve surgical outcomes and enhance the efficiency of surgical procedures.
The Medical Adhesives Market is poised for significant growth, driven by technological advancements and increasing applications in healthcare. As companies innovate and consumer awareness rises, the market is set to expand substantially.
Table of Contents – Major Key Points
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter's Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production Capacity and Utilization, by Country, by Type, 2023
5.2 Feedstock Prices, by Country, by Type, 2023
5.3 Regulatory Impact, by Country, by Type, 2023.
5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region
5.5 Innovation and R&D, by Type, 2023
6. Competitive Landscape
7. Medical Adhesives Market Segmentation, by Product Type
8. Medical Adhesives Market Segmentation, by Technology
9. Medical Adhesives Market Segmentation, by Application
10. Medical Adhesives Market Segmentation, by End-User
11 . Regional Analysis
12. Company Profiles
13. Use Cases and Best Practices
14. Conclusion
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