Increasing Demand for High-Quality Medical Protective Wear amid the COVID-19 Pandemic to Boost Growth of Medical Adhesives Market: Reports and Data – Yahoo Finance

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Increasing use of medical adhesives for wound closure post-surgery and rising demand for PPE items such as face masks and surgical drapes are key factors driving market growth
NEW YORK, Dec. 1, 2021 /PRNewswire/Reports and Data has published its latest report titled "Medical Adhesives Market By Resin Type (Natural, Synthetic & Semi-Synthetic), By Technology (Solvent-based, Water-based, Solid & Hot-melt Based, Reactive & Others), By Application, and By Region Forecast to 2028."
According to the latest report, the global medical adhesives market size was USD 8.61 billion in 2020 and is expected to reach USD 14.78 billion in 2028 and register a revenue CAGR of 7.0% during the forecast period, 2021-2028.
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Drivers, Restraints, and Opportunities
Medical adhesives are a component of various products such as wound dressings, tapes for wound closure and for securing devices, electrodes, ostomy supplies, and patches. These adhesives enable securing of both critical and noncritical devices and products, serve to protect skin and promote wound healing, and permit noninvasive monitoring of wounds and sutures etc. Advancements in medical adhesives are resulting in increasing applications in biomedical and pharmaceutical sectors, and are currently used in various medical and surgical procedures, in assembly of medical devices, securing components during intravenous drug delivery, urological surgical interventions, and in plastic surgery procedures, among others. With the advent of novel medical treatments and technologies, medical adhesives are increasingly being deployed in medical disposable device assemblies used in home care settings. Medical adhesives are steadily replacing conventional cat gut and nylon and absorbable and nonabsorbable surgical sutures and stapes for closure of post-surgical incisions and wounds owing to low risk of adverse or side effects. Increasing number of patients requiring treatment that necessitates use of medical adhesives, development of more robust and reliable medical-grade adhesives, and rapid innovations in medical adhesives are some key factors expected to continue to drive market revenue growth over the forecast period.
Medical adhesives are rapidly replacing traditional fastening systems in medical device assemblies and confer significant advantages over other mechanical fastening methods. Medical adhesives are available in various types such as structural, non-structural, pressure sensitive, and sprays to cater to different attachment and assembly needs and applications. Structural adhesives are characterized by their excellent adhesion and load bearing capabilities and are widely used in a range of medical device applications such as for bonding surgical instruments and equipment and in attachment of rubber bumpers on the soles of crutches, canes, and walkers, among others. Non-structural adhesives are used in non-critical assemblies and some common examples of non-structural adhesives include hot melts, aerosols, and rubber and gasket adhesives. Spray and hot melt adhesives are widely used for bonding foam to foam or fabric to metal such as in wheelchair seat cushions, which eliminates the need for stitching. Pressure sensitive adhesives are extensively used in medical device assemblies due to viscoelastic properties. These adhesives are commonly used in the manufacturing of blood glucose monitoring strips and for attaching products and devices such as insulin pumps, surgical drapes, and wound dressing to the skin of patients. Increasing global demand for Personal Protective Equipment (PPE) following the COVID-19 pandemic has further contributed to rising demand for medical adhesives that can be used in production of face masks, shields, and medical drapes and gowns. Hot-melt adhesives and water-based adhesives are widely used in production of high-quality medical protective wear that offers robust protection against exposure to infectious diseases, pathogens, and viruses.
Emergence of more infectious variants in countries across the globe and rising need to reduce exposure, infection, and spread of viruses are further boosting demand for PPE kits, and in turn, contributing significantly to revenue growth of the market.
To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/medical-adhesives-market
While medical adhesives have little to no risk of side effects, there have been incidences of allergic contact dermatitis that is caused due to presence of specific materials in some medical adhesives. In addition, certain high-quality medical adhesives are expensive and some may not be appropriate or compatible with all patients and these factors can potentially restrain market growth to a certain extent over the forecast period. However, development of bioadhesives with low potential to cause allergic reactions can expand applications of adhesives in the medical industry and open up robust revenue opportunities for major players in the market.
COVID-19 Impact Analysis
Social distancing and restrictions severely disrupted businesses and operations
Lockdowns caused disruptions in transportation and logistics
impacted manufacturing activities and mining operations globally
Took a toll on economy of various countries
Caused sudden and drastic downturn in economic activity
Disrupted agriculture, fisheries, dairy, and other sectors
Caused loss of employment and financial crisis
Supply impacts were further compounded owing to reduced disposable income
Emergence of variants continue to cause concerns and impact normal routines
Synthetic and Semi-Synthetic Resin Segment to Account for Largest Revenue Share:
Synthetic and semi-synthetic resin segment is expected to account for largest revenue share over the forecast period, attributable to growing usage of synthetic and semi-synthetic resins in medical device assemblies and sealing, as excipients in transdermal patches, and as alternatives to conventional solvents in needle bonding, manufacturing of IV tube sets, and for attaching plastic tubes to blood bags.
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Dental Segment to Register Steady Revenue Growth:
Dental segment is expected to register steady revenue growth over the forecast period owing to increasing use of medical adhesives in the production of dentures, dental crowns, and caps, and in post-surgical wound dressing. In addition, increasing demand for braces and dental veneers owing to rising popularity of cosmetic dental procedures to boost aesthetics and personal appearance, rising awareness regarding oral health, and availability of more cost-effective dental procedures are further expected to contribute to revenue growth of this segment going ahead.
North America to Account for a Significantly Large Revenue Share:
North America is expected to dominate other regions in terms of revenue share over the forecast period, attributable to increasing use of advanced wound dressing and medical devices to enhance safety and quality of life of patients, rising demand for durable medical devices due to rising need for patient monitoring devices amid growing caseload of COVID-19 infections, rapid advancements in manufacturing processes of medical adhesives, and presence of major players in countries in the region.
Asia Pacific to Lead in Terms of Revenue Growth Rate:
Asia Pacific is expected to register robust revenue CAGR over the forecast period, attributable to high demand for PPE kits, increasing adoption of advanced medical devices high healthcare expenditure, advancements in healthcare infrastructure, rising need for more efficient wound closure materials due to increasing number of surgeries performed, and increasing investment in R&D activities to develop newer lines of robust medical adhesives.
Major Companies in the Market Include:
Ethicon, Inc. (Johnson & Johnson)
Henkel AG & Co. KGaA
3M
Baxter International Inc.
Nitto Denko Corporation
B. Braun (B. Braun Melsungen)
H.B. Fuller Company
Bostik (Arkema)
Chemence
CryoLife, Inc.
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented the global medical adhesives market based on resin type, technology, application, and region:
Resin Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
Natural Resin Type
Synthetic & Semi-Synthetic Resin Type
Technology Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
Solvent-based
Water-based
Solid & Hot-melt Based
Reactive & Others
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
External Surgery
Internal Surgery
Dental
Medical Devices & Equipment
Others
Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Some points on how the report benefits stakeholders:
The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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