Medical Device Adhesive Market Size, Industry Report by Share, Value, Growth, Key Regions, Segments, Trends, Industry Analysis and Forecast till 2027
Medical Device Adhesive Market: Insight
According to our new market research study on “Medical Device Adhesive Market – Global Analysis and Forecast – by Resin Type, and Device Type,” the global medical device adhesive market is expected to reach US$ 11,759.07 million by 2027 from US$ 6,642.85 million in 2019; it is estimated to grow at a CAGR of 7.5% from 2020 to 2027. The report highlights the trends prevailing in the global medical device adhesive market, and the drivers and deterrents pertaining to its growth.
Driving factors include increasing usage of medical device adhesives and technological advancements in medical device adhesives. However, complications associated with these solutions are likely to hamper the growth of the market to a certain extent.
The growth of medical device adhesive market is also attributed to the increasing usage of medical device adhesives, and technological advancements in medical device adhesives. However, lack of adoption in emerging economies is likely to hamper the growth of the market during the forecast period.
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Medical Device Adhesive Market: Competition Landscape & Key Developments
Dymax Corporation, Henkel AG & COMPANY, KGAA, Epoxy Technology, Inc., Master Bond, H.B. Fuller Company, Adhesives Research, INCURE INC., Permabond LLC, 3M, and Dr. Hönle AG are among the prominent players operating in the medical device adhesive market.
Increasing Usage of Medical Device Adhesives
Advancements in electronics technologies are enabling medical electronic devices to facilitate faster diagnosis and offer new drug based therapies to improve the health condition of patients suffering from various health issues. Medical device adhesives are highly versatile and useful in the field of medical science. Most of the medical device manufacturers use pressure sensitive adhesives (PSAs) for grounding, interconnecting, and shielding applications. Some of these adhesives are made up of softer materials such as cotton; whereas, others are more elastic to support flexibility. The rising adoption of medical device adhesives in various applications is expected to support the market growth in the coming years.
The adhesives and sealants are used as an alternative to surgical sutures and staples. The medical practitioners are progressively adopting different types of medical consumables such as catheters needles and others, which, in turn, are projecting the demand for medical adhesives and sealants. For instance, organ transplant is one of the surgical producers that involve large incisions on the human body. Post-surgical wounds are sealed with the help of surgical sutures and staples; the wound needs to be healed fast to avoid post-operation complications, such as wound infection and bleeding. The adhesives and sealants can help in preventing such complications.
In recent years, medical device adhesives have been gaining a significant preference in healthcare-related operations. The medical device adhesives are used in applications such as assemblage of medical devices, drug delivery stems, and connection of device joints and gaps. The use of medical device adhesives depends on the use of medical devices. Medical grade sealants are widely used in the pharmaceutical and biotechnology industries to prevent contamination of products and maintain pressure in isolators during the manufacturing processes.
Medical Device Adhesive Market: Segmental Overview
Based on resin type, the medical device adhesives market was segmented into acrylic, silicone, cyanoacrylates, polyurethane, light curing, and epoxy. In 2019, the acrylic segment accounted for the highest share in the market and is likely to retain its dominant share owing to the factors such as evident use of acrylic solutions in wide range of applications such as dental, assembly of medical devices and equipment. Furthermore, medical grade acrylic is also ideal for use in interior and well as exterior medical applications that include skin tissue adhesives.
Based on device type, the medical device adhesive market is segmented into catheters, wearable medical devices, needles and syringes, pacemaker, tube sets, and masks. The wearable medical devices segment is sub segmented into smartwatches, wristband and activity monitors, patches, and smart clothing. The catheters segment held the largest share of the market in 2019. However, the wearable medical devices segment is estimated to register the highest CAGR in the market during the forecast period.
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