Medical Adhesives Market

Medical Adhesives Market

Growth Factors of Medical Adhesives Market

The medical adhesives market size was valued at USD 8.65 billion in 2023, and the market is now projected to grow from USD 9.28 billion in 2024 to USD 16.56 billion by 2032, exhibiting a CAGR of 7.5% during the forecast period of 2023-2032.

T Due to the covid pandemic many companies shut down their prediction units and projects due to hindered travel acquisitions which ultimately created a decline in the medical adhesives market growth. Lack of staff and decline in orthopedic surgeries led the market growth reduction as the covid virus patients were prioritized over the surgeries. Therefore, operational procedures, orthopedic surgeries were put on hold due to covid pandemic which led a decline in market growth. Economic shutdowns, transit restrictions, social gathering and logistical impediments curtailed the demand for medical adhesives products. Lockdown measures and limitations on non-essential enterprises resulted in temporary closures of physical retail establishments, including outlets and boutiques, significantly impacting medical adhesives products sales and consumer experience.

The market is rising due to growing market potential for soft-skin adhesives. Rising need for medical equipment and devices will create remarkable growth opportunities for medical adhesives market growth. Medical device assembly requires the use of adhesives. Maximum performance and dependability adhesives are needed for this assembly, which is unusual in other sectors. Because of this, the medical industry needs special adhesives that adhere to tight specifications and are made especially for use in medical settings. The medical business has grown as a result of rising consumer expenditure, and this has in turn increased demand for tools and equipment used in a variety of medical settings, which has driven the growth of the medical adhesives market.

Additionally, due to growing demand for soft-skin adhesives in the medical field will propel market expansion in the upcoming years. Soft-skin adhesives provide a strong, long-lasting connection that is simple to release without causing any harm or uncomfortably affecting the skin. Their main purpose is to adhere bandages and other medical supplies to the skin. These adhesives have emerged as the standard for skin attachments in the recent past. Furthermore, it is projected that the growing need for medical adhesive in the areas of skin therapies, wearable medical devices, and wound dressings will support market expansion going forward.

Comprehensive Analysis of Medical Adhesives Market

The medical adhesives market is witnessing an exponential growth rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by resin type and by application. The resin types segment semi-synthetic, synthetic and natural. However, the application segment includes Medical Devices & Equipment, External Medical Applications, Dental, Internal Medical Applications, and others.

In the medical adhesives market, the Asia Pacific region lead the medical devices market by benefitting a market size of USD 3.19 billion in 2023 owing to increased demand for medical devices, growing demand for soft-skin adhesives and growing consumer spending on such devices.

The prominent players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These players include, AVERY DENNISON CORPORATION (U.S.), Glue Dots (U.S.), 3M (U.S.), MASTERBOND (U.S.), Panacol-Elosol GmbH (Germany), Dymax (U.S.), Scapa (U.K.), Permabond (U.S.), G A Lindberg (Sweden), Baxter International Inc. (U.S.) Boyd (U.S.), and H.B. Fuller Company (U.S.) these market players provide a level-playing competitive landscape.

In November 2022, MED 5740, MED 5741, and MED 5742 were launched by Avery Dennison Corporation during the Medica International Trade Fair held at Messe Dusseldorf. The recently introduced goods are adhesive materials with a single coat that stays for extended periods of time.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.5% from 2024-2032

Unit Value (USD Billion), Volume (Million Ton)

Segmentation By Resin Type

• Semi-synthetic & Synthetic
• Natural

By Application

• Medical Devices & Equipment
• External Medical Applications
• Dental
• Internal Medical Applications
• Others

By Region

• North America (By Resin Type, Application, and Country)
• U.S. (By Application)
• Canada (By Application)
• Europe (By Resin Type, Application, and Country)
• Germany (By Application)
• U.K. (By Application)
• France (By Application)
• Italy (By Application)
• Rest of Europe (By Application)
• Asia Pacific (By Resin Type, Application, and Country)
• China (By Application)
• India (By Application)
• Japan (By Application)
• South Korea (By Application)
• Rest of Asia Pacific (By Application)
• Latin America (By Resin Type, Application, and Country)
• Brazil (By Application)
• Mexico (By Application)
• Rest of Latin America (By Application)
• Middle East & Africa (By Resin Type, Application, and Country)
• South Africa (By Application)
• Saudi Arabia (By Application)
• Rest of the Middle East & Africa (By Application)

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