SAN FRANCISCO, March 24, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Medical Adhesives and Sealants – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 19; Published: February 2022
Executive Pool: 7888
Companies: 46 – Players covered include 3M Company; Adhesives Research, Inc.; Advanced Medical Solutions Group plc; Israel Advanced Medical Solutions (Sealantis) Ltd; B. Braun Melsungen AG; Baxter International, Inc.; Becton, Dickinson and company; CryoLife, Inc.; Dentsply Sirona Inc.; Tricol Biomedical, Inc.; Integra Life Sciences Corporation; Johnson & Johnson/Ethicon; Kerr Corporation; Medtronic Plc; Procter & Gamble Company; Vivostat A/S and others.
Blanket: All major geographies and key segments
segments: Product Segment (Acrylic, Silicone, Cyanoacrylate, Collagen, Fibrin, Albumin, Other Product Segments); Technology (water-based, solvent-based, solid-based and hot-melt); Application (medical, dental)
Geographies: World; United States; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia Pacific; Australia; India; South Korea; Rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UNITED ARAB EMIRATES; Rest of Middle East; Africa.
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Global Medical Adhesives and Sealants Market to Reach $14.2 billion by 2026
Defined as advanced chemical formulations for use in various bonding applications ranging from the assembly of medical devices to surgical closures, medical adhesives and sealants are essential consumables in healthcare. The use of medical adhesives and sealants is largely influenced by the growth of the healthcare industry and the manufacturing of medical devices. Factors influencing the growth of the market include aging population, increasing volumes of surgical procedures, increasing importance of diagnostics and diagnostics, development of healthcare infrastructure, and increasing l manufacturing of medical devices, among others. The development of biocompatible adhesives and sealants, including bioabsorbable medical adhesives, has particularly revolutionized the use of these materials in surgical applications. The promising upsurge in regenerative medicine is expected to further drive technology and R&D interest in novel next-generation adhesives and sealants as smart biomaterials. The growing sophistication of medical devices should provide favorable ground for demand for raw materials and related components. The increasing number of surgical procedures along with the growing popularity of minimally invasive treatments across the world continues to increase the need for surgical adhesives and sealants including fibrin sealants, cyanoacrylates, gelatin products and thrombin, polyethylene glycol polymers and albumin and glutaraldehyde products.
Amid COVID-19 crisis, Global Medical Adhesives and Sealants Market estimated at 11 billion US dollars in 2022, is expected to reach a revised size of US$14.2 billion by 2026, growing at a CAGR of 5.6% over the analysis period. Acrylic, one of the segments analyzed in the report, is expected to register a CAGR of 4.7% and reach US$4.5 billion at the end of the analysis period. After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the Silicone segment is readjusted at a revised CAGR of 5% for the next 7-year period. Acrylic adhesive products are typically offered as emulsions, solvent-based liquids, tapes, or monomer-polymer blends, all available with powder or liquid curing agents. Acrylic adhesives generally provide durable electrostatic dissipation (ESD) protection for many medical devices and equipment, and can be easily applied even to rough and irregular surfaces. Among technical adhesives for repeated sterilization, silicone-based adhesives, which have high resistance to sterilization, are gaining importance. Exposure to sterilization processes does not impact the elongation capabilities and tensile and shear strength of silicone adhesives, primarily because silicones are resistant to temperature and humidity .
The US market is estimated at $3.7 billion in 2022, when China is expected to reach $1.5 billion by 2026
The Medical Adhesives and Sealants Market in the United States is estimated at US$3.7 billion in the year 2022. Chinathe second largest economy in the world, is expected to reach a projected market size of US$1.5 billion by 2026 with a CAGR of 7.7% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 4.7% and 5% respectively over the analysis period. In Europe, Germany is expected to grow at a CAGR of approximately 5.2%. The U.S. market holds the largest global share, driven by factors such as advancements in technology, increasing awareness among the medical community about the various benefits of medical adhesives and sealants, increasing acceptance of these products by surgeons and doctors, the increasing number of vascular diseases, pulmonary and cardiovascular surgeries and the relocation of the manufacturing of medical devices. Asia Pacific is expected to become the fastest growing market, driven by factors such as increasing health awareness, growing population with rising healthcare needs, rising per capita income, volume growth surgeries due to the expansion of the medical tourism sector.
Cyanoacrylate segment to reach $604.8 million by 2026
Also known as super glues or instant adhesives, cyanoacrylates are generally fast-curing acrylic monomer-based alkylated adhesive products that vary in functionality depending on their structural and chemical compositions. Although commercialized only a few years ago, cyanoacrylate adhesives and sealants have recorded wide application due to various advantages offered such as faster cure times, high strength adhesion to polyolefins and flexibility to bond to any type of substrate. In the global cyanoacrylates segment, United States, Canada, Japan, China and Europe will drive the CAGR of 6.6% estimated for this segment. These regional markets representing a combined market size of US$340.9 million will reach a projected size of US$533.2 million at the end of the analysis period. China will remain among the most dynamic in this group of regional markets. Led by countries such as Australia, Indiaand South Koreathe market of Asia Pacific should reach US$53.8 million by 2026, while Latin America will grow at a CAGR of 7.7% over the analysis period. Continued
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