Bioadhesive Market

Global Bioadhesive market size and CAGR (2022-2027)

The global bioadhesive market is expected to grow at a CAGR of 10.08% during the forecast period. As a result, the global revenue is estimated to reach USD 10.92 billion by 2027 from USD 6.7 billion in 2022.

Bioadhesive refers to a biological material from the valuable polymeric structure as an adhesive/gum for living tissues. The bioadhesive can be used for wound closure, sealing leakage, and immobilization in medical procedures, and they can even help fix medical equipment damages. Bioadhesives are natural and biodegradable, mainly composed of protein, starch, cellulose, gelatin, etc., extracted from plants and animals. Bioadhesives can also be obtained from sea creatures and are helpful in post-surgical procedures. For example, Bioadhesives help seal post-surgical leakages, which could lead to potential infection and even death. Bioadhesives also have non-medical applications in flexible packaging services, printed sheet laminations, cigarettes, etc. 

Impact of Covid-19 on the Global Bioadhesive Market:

The covid-19 pandemic, which originated in China and spread worldwide, resulted in several fatalities and unfortunate events. Due to the shutdown of all companies and services, the pandemic caused significant economic loss and a recession. The rigorous lockdown's effects caused many productions to experience demand and supply chain interruptions, which resulted in enormous waste output and a loss of investment for people. Without any source of income, many households lost their jobs, and businesses began to lay off employees to save money. In addition, the government started assistance payments for those struggling financially. The market segment that was most significantly impacted was the healthcare industry.

The pandemic had a negative impact on the global bioadhesive market. This market revenue decline was due to the restrictions on the production and supply of bioadhesive products and the decrease in the number of surgeries performed during the pandemic. As all the urgent attention for healthcare sectors was shifted towards covid patients, all elective surgeries from other departments were postponed, and only the most critical surgeries were performed. In addition, the industries for packaging services also closed down. Therefore there was a decline in the requirement rated for bioadhesives. Additionally, research and development activities were shifted toward developing covid vaccines, further pushing the market decline. However, the market is expected to bounce back in post covid era with the resumption of healthcare activities. 

MARKET DRIVERS:

They are used as alternatives for other closure techniques like sutures and are preferred due to their efficiency. New applications of bioadhesives are being discovered every day. Bioadhesives are also used as tissue adhesives, tissue sealants, and hemostats and are critical in healthcare. The rising costs of oils are also helping the market grow as regular synthetic adhesives are derived from petroleum feedstocks. The rise in prices has led to a recent increase in the bioadhesive market. 

                            Environmental advantages of bioadhesives to drive the global bioadhesive market growth.

Bioadhesives are biodegradable products and are environmentally friendly. They are easily decomposable compared to synthetic adhesives, and this advantage of bioadhesives is helping the shift towards the market. Bioadhesives are becoming more popular due to the health hazards resulting from emissions from synthetic petro-based products. Agencies like the FDA and the Environmental Protection Agency (EPA) support bioadhesives' use due to their harmless functions.

The rising investments from governments and the interest of public and private organizations in developing bioadhesives are expected to support market growth. In addition, the bioadhesive market has multiple end users who depend on its products, and this multi-use is driving the expansion of the market. For example, bioadhesives are used in the medical industry, packaging and paper industry, construction process, and even personal care. 

MARKET RESTRAINTS:

The market is hindered by the ease of availability and production of synthetic adhesives. The synthetic adhesive is also cheaper than biological adhesives and more efficient. In addition, synthetic adhesives work very effectively on wet and uneven surfaces, whereas bioadhesives may not be equally vital as adhesion power. Therefore, the low effective cost and efficiency of the synthetic adhesive and the high expenditure costs for research and development of biological adhesives can prove to be hindrances to the expansion of the market. 

This market research report on the global bioadhesive market has been segmented and sub-segmented into the following categories.

Global Bioadhesive Market - By Type:

• Animal-based
• plant-based

The Plant-based segment is expected to dominate the market during the forecast period due to the rising technological advancements in the future for plant-based bioadhesives and the high demand for biodegradable products. In addition, the rise in stringent environmental regulations and the inexpensive research for plant-based production is helping the segment grow. Furthermore, plant-based adhesives can be derived from staple crops like corn, rice, and tapioca, which are abundantly present, promoting the market growth.  

Global Bioadhesive Market - By Application:

• Construction
• Paper & Packaging
• Woodworking
• Personal care
• Medical
• Others

The medical segment is expected to dominate the market during the forecast period due to the wide range of applications for bioadhesives in the healthcare sector. Bioadhesives are preferred for their efficiency in the medical industry. They are used for various purposes like wound healing and preventing leakages post surgeries; They are essential parts of the healthcare sector, leading to the segment's dominance. 

Global Bioadhesive Market -By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The market in Europe, followed by the market in North America, is expected to dominate the revenue. Due to strict government laws governing synthetic adhesives, significant manufacturers, well-established technologically cutting-edge infrastructure, and considerable demand for biomedical applications, actions made by government agencies, the main participants, need for personal care, and growing investments in the field. 

The market in Asia-Pacific and Latin America is also fast growing due to a large population, an increase in the use of bioadhesives in the healthcare sector for drug delivery systems, the availability of low-cost raw materials and labor, rising construction and renovation activities, environmental regulators and governments with fewer restrictions and requirements surrounding the use of petrochemical-based adhesives, growing local demand, increased per capita income, and rising healthcare knowledge of illnesses and wound infections.

KEY MARKET PLAYERS:

There are several significant players in the global bioadhesive market. Here are a few of the most predominant players, Ashland Inc., Bioadhesive Alliance Inc., Camurus, EcoSynthetix Inc., Henkel Corporation, and Yparex B.V.

RECENT MARKET HAPPENINGS:

In June 2021, Acting U.S. Attorney Sandra J. Hairston reported that Bio-Adhesive Alliance, Inc. (Bio-Adhesive) received a sentence yesterday in federal court for making fraudulent claims in grant applications delivered to the Environmental Protection Agency and the National Science Foundation. Judge Catherine C. Eagles of the Middle District of North Carolina's United States District Court ruled that Bio-Adhesive must pay the National Science Foundation $562,500 in restitution and the Environmental Protection Agency $319,199.69 in addition to an $800 special assessment and five years of probation. Additionally, in March 2021, the defendant corporation admitted guilt on two counts of making false representations.

In September 2022, To advance current hair transplant procedures, a combined research team from the Korea Advanced Institute of Science and Technology (KAIST) claimed on Wednesday that they had created a bio-friendly glue by combining tannic acid with bio-compatible polymers. Tannic acid is a polyphenol found in chocolate, nuts, and fruit shells. Its potent adhesive and coating abilities easily attach to other compounds. Tiny, sticky liquid drops may sink when water is combined with a dissolved polymer and tannic acid coacervates. However, it can be utilized as a low-toxicity medicinal adhesive when mixed with biocompatible polymers.