Lucrative Regional Markets for Medical Device Adhesives

Medical Device Adhesive Market Growing at a CAGR of 7.5% by 2027

NEW YORK, UNITED STATES, November 19, 2021 /EINPresswire.com/ -- 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.

Strategic Insights:

Report Coverage (Details)
Market Size Value in (US$ 6,642.85 million in 2019)
Market Size Value by (US$ 11,759.07 million in 2027)
Growth Rate (CAGR of 7.5% from 2020-2027)
Forecast Period (2020- 2027)
Base Year (2020)
No. of Pages (197)
No. Tables (78)
Segments covered (by Resin Type; Device Type and Geography)
Regional scope (North America; Europe; Asia Pacific; Latin America; MEA)
Country scope (US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina)
Report coverage (Revenue forecast, company ranking, competitive landscape, growth factors, and trends)

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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.

Increasing Usage of Medical Device Adhesives

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.

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.

Further, the wearable medical devices are relatively tricky to design and have various issues related to components, functions, and materials that are required for consideration before the performance of the device. The medical device adhesives offer high reliability and are able to withstand critical conditions. In order to mitigate these challenges, there has been development of various types of sealants and adhesives as there is no single sealant that works for all roles. This is likely to foster the growth of the market during the forecast period.

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

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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.

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.

Medical Device Adhesive Market: Competitive Landscape and 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.

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For instance, in February 2020, Epoxy Technology Inc. announced the addition of two new MED line adhesive products: MED-OG198-55 and MED-730-110 to its comprehensive line of medical device grade adhesives.

For instance, Henkel offers solvent and water-based acrylic adhesives for medical applications. Similarly, 3M offers Medical Permanent Acrylic Adhesives P1500 and P1510 that demonstrates excellent peel and tack performance.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Sameer Joshi
The Insight Partners
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