Global Medical Adhesives and Sealants Market is Expected to Grow at a CAGR of 7%Published Date: July 30, 2020 |
According to a new market report published by Research Corridor “Medical Adhesives and Sealants Market (Synthetic (Acrylic, Cyanoacrylate, Silicone, Polyethylene Glycol, Other Synthetic) and Natural (Collagen, Fibrin, Albumin and Other Natural) for Internal, External and Dental Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2020 – 2027,” the global medical adhesives and sealants market was valued at around USD 10 billion in 2019 and is expected to reach over USD 17 billion by 2020, growing at a CAGR of over 7% over the forecast period from 2020 to 2027.
The market is estimated to grow at a fast pace owing to the rising adoption of medical adhesives and sealants aided by their beneficial characteristics such as ease of use, time efficiency and aesthetics. The increasing number of medical ailments associated with the rising aging population across the world is expected to be major driver for the medical procedures, which require medical adhesives and sealants, in the years to come.
Medical adhesives and sealants market can be classified based on product types into the following segments – acrylic, silicone, cyanoacrylate, polyethylene glycol, other synthetic (Polyisobutylene, polyurethane, epoxy) collagen, fibrin, albumin and other natural (Lysine, cellulose, amino acid derivatives). Acrylic products were the dominant segment with over 30% of the global demand in 2019. Collagen products were the second largest segment and expected to grow at a high CAGR of between 2020 and 2027. Polyethylene glycol and cyanoacrylate products were the fastest growing segments due to recent successes in the development of formulations suitable for internal medical applications.
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Key applications for medical adhesives and sealants include internal, external and dental applications. Internal applications include surgical tissue sealing, hemostats, blood clotting and implant mounting among others. Dental applications accounted for the largest share of almost half of the total market in 2019. Dental applications are expected to witness limited gains over the forecast period owing to rising awareness related to preventive oral care through regular brushing and flossing. External applications include wound care, suture, medical tapes, and contact medical devices such as a syringe, electrodes, catheters, etc.
The global medical adhesives and sealants market was dominated by North America in 2019 due to access to advanced technologies and awareness about the benefits of medical adhesives and sealants among users. The market is expected to witness robust growth in the Asia Pacific due to growing medical tourism and rising awareness. Europe was the second-largest market for medical adhesives and sealants with a market share of about 30% in terms of volume demand.
Baxter International, Denstply Limited, 3M Company, CryoLife Inc., Henkel AG and Johnson and Johnson are some of the leading medical adhesives and sealants suppliers across the world. The top four players accounted for more than 49% of the market in terms of revenue.
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The report segments the global medical adhesives and sealants market as:
Medical Adhesives and Sealants Market & Product Segment Analysis
- Synthetic medical adhesives and sealants
- Polyethylene glycol
- Other (Including polyisobutylene, polyurethane, epoxy)
- Natural medical adhesives and sealants
- Other (Including lysine, cellulose, amino acid derivatives)
Medical Adhesives and Sealants Market – Application Analysis
Medical Adhesives and Sealants Market – Regional Analysis
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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