Medical Adhesives Market Research Report: By Resin, Technology, Application - Global Industry Analysis and Demand Forecast to 2030

Medical Adhesives Market Research Report: By Resin, Technology, Application - Global Industry Analysis and Demand Forecast to 2030

  • June 2020 •
  • 184 pages •
  • Report ID: 5982462 •
  • Format: PDF
Medical Adhesives Market Research Report: By Resin (Acrylic, Cyanoacrylate, Rubber, Silicone, Epoxy, Polyurethane, Natural), Technology (Water-Based, Solvent-Based, Hot Melt & Other Solids), Application (Internal Medical Application, External Medical Application, Dental, Medical Devices & Equipment) - Global Industry Analysis and Demand Forecast to 2030

The global medical adhesives market generated a revenue of $8,714.9 million in 2019 and is expected to attain a valuation of $16,367.2 million in 2030. As per the forecast of the market research firm, P&S Intelligence, the market will demonstrate a CAGR of 2.3% from 2020 to 2030. The increasing per capita income, soaring population, surging healthcare expenditure in the developing nations, and the rising requirement for medical instruments and tools are the major growth drivers for the market.

The economies of India, Brazil, and China have undergone rapid growth in the last few years. This has caused a considerable increment in the GDP of these nations. As per studies, the GDP of China, Brazil, and India rose to 2nd, 8th, and 5th respectively in 2019. Because of this economic progress, the purchasing power of people in these countries is growing rapidly. Moreover, due to the economic surge, the governments of these nations are increasing their healthcare expenditure significantly.

Because of the aforementioned reasons, the demand for medical tools and equipment, PPE kits, medicines, and pharmaceuticals is surging rapidly, which is, in turn, fueling the expansion of the medical adhesives market. Besides this, the rising requirement for medical disposable devices and products is also boosting the growth of the market. The rising prevalence of chronic diseases is pushing up the requirement for long-term chronic care treatment, in which disposable medical devices are heavily used.

Apart from the ballooning number of chronic therapies, the increasing number of surgeries is also propelling the demand for disposable medical instruments. Moreover, with the increasing awareness of hygiene and hospital-acquired infections (HAIs) among both patients and healthcare workers, the utilization of disposable medical devices is shooting-up in healthcare settings across the world. This is subsequently pushing up the global demand for medical adhesives, as these adhesives are extensively used in various medical equipment.

Based on technology, the medical adhesives market is categorized into solvent-based, hot melt and other solids, and water-based. Out of these, the holt melt and other solids category is predicted to dominate the market in the future years. This would be primarily because of the large-scale usage of holt melt and other solid adhesives in various healthcare applications such as internal medical applications, wound healing external medical applications, and dental operations.

Globally, the medical adhesives market is predicted to be very prosperous in North America in the upcoming years, on account of the rising demand for medical devices, needles, equipment syringes, surgical sutures, thermometers, stretchers, first-aid kits, PPE products, and plastic tubes. Furthermore, with the soaring population in the regional countries, the sales of these medical tools would boom in the coming years. This would further boost the advancement of the market in the region in the future.