San Francisco, 10 September
2018: According to a report by Grand View Research, Inc., global medical
adhesives market is estimated to value USD 17.02 billion by 2025
growing at a CAGR of 9.5 % during the forecast period (from 2018 to 2025).
Rising demand for medical devices and equipment in hospitals and other
healthcare centers are anticipated to propel the demand for medical adhesives.
Medical adhesives offer a wide range of applications due to continuous
technological advancements and production of unique devices in healthcare
sector. Increasing adoption of disposable medical devices as a result of
enhanced processing procedures and technology are also likely to fuel market
development in the forthcoming years. Increasing use of medical devices such as
implants, drug delivery systems, and catheters owing to growing geriatric population
base and improvements in medical practices can have a positive impact on the
market demand. High demand for medical adhesives among manufacturers of dental
devices would also stimulate market growth during the forecast period.
The medical adhesives market
is segregated on the basis of resin type, technology, application, and region.
Based on resin type, the market is categorized into epoxy, polyurethane,
acrylic adhesive, cyanoacrylate, silicone, and others. Acrylic adhesives are
available in different forms such as paste, tape, and liquid form. These type
of medical adhesives are used in applications that require sheer & peel
strength, high tensile strength, and shock & impact resistance. On the
basis of technology, the market is classified as hot melt, solvent-based,
water-based, and others. Water-based medical adhesives are used in multiple
end-use applications. Such adhesives can improve moisture resistance of medical
devices as compared to other adhesives. On the basis of application, the market
is segregated into medical device & equipment, internal medical
application, external medical application, dental, and others.
Access
Research Report of Medical
Adhesives Market@ www.grandviewresearch.com/industry-analysis/medical-adhesives-market
In 2016, dental segment
dominated the global medical adhesives market and accounted for the maximum
market share. It is projected to expand further at a CAGR of 9.9 % from
2018 to 2025. On the basis of geographies the market is divided into Europe,
North America, Asia Pacific, Middle East & Africa (MEA), and Central &
South America. Together, the North America, Europe, and Asia Pacific regions
account for 70 % of the global share, in terms of manufacturing and
consumption of medical devices. This growth is attributed to the following
factors. In North America, the US medical devices manufacturing industry is
likely to be competitive in nature and is characterized by regular innovations
in terms of novel designs and products. Major Japanese firms are deeply
focusing on the development of medical imaging instruments along with commodity
hospital supplies.
Moreover, supportive
government healthcare regulations in Japan are also anticipated to impel the
market growth in the region. Developed nations in Europe region, such as United
Kingdom, have made it mandatory for the drug developers to offer medicines including
aspirin, paracetamol, and contraceptives in Child-Resistant Packaging (CRP). In
addition, stringent regulations and technological developments in the
pharmaceutical, manufacturing, and research sectors across the globe are
anticipated to fuel the medical adhesive market growth in the years to come. In
Asia Pacific, the market is expected to exhibit a growth rate of 9.9 %
from 2018 to 2025. Increasing number of manufacturing companies shifting to
this region is the major influence growth of market.
Browse more reports of this category by
Grand View Research at: www.grandviewresearch.com/industry/plastics-polymers-and-resins
Some of the leading companies
in the medical adhesives market are The DOW Chemical Company; 3M Company;
Bostik Ltd.; H.B. Fuller; and Ashland Inc. To cater to rising demand, most
companies invest heavily in R&D to develop better products. For instance,
Cohera Medical recently announced allowance on its patent application titled
SILANE-CONTAINING MOISTURE-CURABLE TISSUE SEALANT from the US Patent and Trade
Mark Office (USPTO). The patent is regarding 100% synthetic sealant called
Sylys Surgical Sealant for several surgical applications. This sealant is
highly elastic and can offer good bonding strength to internal tissues. It can
be easily prepared and applied in the operation theatre and is biocompatible
for internal human use. According to the company, this patent will expand its
product portfolio and solidify its leadership position in the field of internal
surgical adhesives and sealants.
Access
Press Release of Medical Adhesives Market@ www.grandviewresearch.com/press-release/global-medical-adhesives-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports,
customized research reports, and consulting services. To help clients make
informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
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