The medical adhesives market is predicted to reach a value of $16,367.2 million in 2019, from $8,714.9 in 2019, exhibiting a 2.3% CAGR during the forecast period (2020–2030). When resin is taken into consideration, the market is categorized into natural, epoxy, rubber, acrylic, polyurethane, silicone, and cyanoacrylate, among which, the natural category held the major share of the market in 2019. These products are widely used in all surgical procedures for binding and sealing tissues and achieving hemostasis.
In terms of applications, the market is divided into medical devices & equipment, internal medical application, dental, and external medical application, out of which, the internal medical application is expected to contribute the largest revenue share during the forecast period. Bio-adhesives are used majorly for internal medical applications and in intracorporal conditions. These applications need direct contact to tissues, organs, and body fluids for decreasing bleeding complications within the human body.
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The medical adhesives market was dominated by North America during the historical period (2014–2019), according to a report by P&S Intelligence. The demand for these products in the region is growing due to the high purchasing power of people and opportunity for advancements in the healthcare industry. The Asia-Pacific region is expected to progress at the fastest pace during the forecast period, owing to high population base and rising healthcare expenditure in the region.
One of the major products that are utilized during a surgical procedure are medical adhesives. These products are biocompatible, resistant to sterilization, solvent free, and provide thermal stability. Being an integral part of the healthcare delivery, medical adhesives are utilized extensively in all medical settings. They provide securement for both noncritical and critical products and devices, allow noninvasive monitoring, and facilitate skin healing and protection. These factors are leading to the growth of the global medical adhesives market.