The medical adhesives market is likely to grow at a CAGR of 10.2% owing to its high demand in the medical industry within the forecast period of 2023-2028
Rising demands for personal care and hygiene products are a driving factor to promote the medical adhesives industry in the North American, European, and Asia-Pacific regions. With the COVID-19 pandemic happening around, the healthcare industry is one of the few which has grown drastically. The coronavirus pandemic has skyrocketed the demand for sanitation products as a preventive measure for the virus. Medical adhesives are used in medical products such as dental fillings and in recent times this has been one of the growth factors of the industry.
Medical adhesives are highly regarded for protection against wear, abrasion, and impact, fast cold-curing, excellent adhesion to a wide variety of substrates, better mechanical strength, high elasticity, protection against erosion and corrosion, and easy application. As a consequence of that, medical adhesives are gaining popularity in diverse applications.
The rapid expansion of the global construction sector due to private and government funding is igniting the demand for medical adhesives used in the internal and external medical application industry. Consequently, increasing the need for medical adhesives from different industry verticals such as the Dental and Medical equipment industries is supposed to boost the global medical adhesives market during the outlook period.
Medical adhesives are extremely useful and growing at a high rate but at the same time, they are costly. In addition to this, the volatility in prices also impedes growth.
This cost ineffectiveness is a major drawback to the industry. The high research and development costs for improving the quality of the materials to meet the standard demands according to the environmental regulations.
REPORT METRIC |
DETAILS |
Market Size Available |
2022-2028 |
Base Year |
2022 |
Forecast Period |
2023-2028 |
CAGR |
10.2% |
Segments Covered |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
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Market Leaders Profiled |
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Dental
Medical Device and Equipment
Surgery
Products in the dental applications segment contain adhesive resins and self-adhesive resins. These products act as glue to keep together the casting to the tooth structure. They are usually based on acrylic polymers combined with monomers that are adhesive and have strong bonding capabilities to metal substrates. They further require a separate primer to bond to metal, ceramic, and tooth substrates.
Medical devices dominated the global medical adhesives market in 2019. It is also foreseen to grow the fastest with a CAGR of 8.6% from 2020 to 2025, in terms of revenue. Bio-adhesives are typically used for internal medical applications and are fundamentally utilized in intra-corporal situations that require direct contact with organs, tissues, and body fluids. These products are primarily used for reducing bleeding convolutions inside the body and thus helping the medical adhesives and bio-based adhesives industry to grow.
In medical devices & equipment, adhesives are used for tasks such as anesthesia-mask bonding, hearing-aid molding, needle assembly, polycarbonate component assembly, etc. along with bonding of other medical devices. The substrate adaptability, strong resistance to thermal strains and chemicals, low shrinkage, high gap filling, high peel, and rapid cure offered by the product are the significant factors driving their growth in the medical device & equipment sector.
North America
Latin America
Europe
Asia Pacific
Middle East & Africa
Asia Pacific region (APAC) is expected to dominate the global medical adhesives market in terms of value during the forecast period of 2020 to 2025. Previously, it led the Medical adhesives market due to the presence of an established medical and healthcare industry. The above-mentioned industries use medical adhesives in dental, internal, and external medical applications. The market in these end-use segments is led by China, Japan, India, and Australia among other countries. Amidst the incessant technological growth, the demand for high-performing medical adhesives is increasing, resulting in developments in the APAC Medical adhesives market.
The North American region is the second-largest market for medical adhesives. In North America, the USA is supposed to dominate the market. It has become one of the production powerhouses of the world and is one of the strongest economies. The government has increased its expenditures in the healthcare and personal care segments; this has presented the opportunity for market players operating in this segment to grow.
HB Fuller Company
Arkema Group
Dentsply
Baxter International
Henkel AG
Coronavirus has exposed severe challenges for the medical adhesives market initially by impacting end-user verticals. Major economies around the world are affected due to the pandemic. The medical adhesives market, however, saw substantial growth in this period owing to the increasing demand from the healthcare industry. Due to the glut of coronavirus cases in many countries, the demand for medical equipment and devices increased and this helped the medical adhesives market to grow rapidly. More investments are being made toward bio-based Medical adhesives to reduce the harmful environmental effects of their synthetic counterparts. According to various experts, the medical adhesives market is likely to continue this healthy growth rate post the pandemic.
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