Global Medical Adhesives Market Size to Be Valued at USD 16.56 Billion by 2032 | To Record a CAGR of 7.5% Over 2024-2032

{Latest Chemical News} The medical adhesives market size was valued at USD 8.65 billion in 2023 and is expected to be worth USD 9.28 billion in 2024. The market is projected to reach USD 16.56 billion by 2032, recording a CAGR of 7.5% during the forecast period. Asia Pacific dominated the medical adhesives market with a market share of 36.88% in 2023.

Medical adhesives are products used for bonding different devices for various medical internal and external applications. The products that utilize these adhesives on a large scale include syringes, dialysis systems, blood bags, and tube connections. Growing prevalence of chronic diseases is one of the key factors boosting the adoption of these adhesives.

The COVID-19 pandemic had a mixed impact on the market as the production of this glue took a hit due to supply chain disturbances. However, these adhesives witnessed robust demand in the healthcare sector due to a strong growth in the hospitalization of infected patients.

Fortune Business Insights™ displays this information in a report titled, "Medical Adhesives Market Size and Share Analysis, 2024-2032".

𝑮𝒆𝒕 𝒂 𝑭𝒓𝒆𝒆 𝑺𝒂𝒎𝒑𝒍𝒆 𝑹𝒆𝒔𝒆𝒂𝒓𝒄𝒉 𝑹𝒆𝒑𝒐𝒓𝒕 - https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/medical-adhesives-market-102354

Medical Adhesives Market Segmentation:

Increasing Sales of Disposable Medical Products Increased Use of Semi-Synthetic & Synthetic Resins

Based on resin type, the market is segmented into semi-synthetic & synthetic and natural. The semi-synthetic & synthetic segment captured the largest medical adhesives market share in 2023 as the sales of disposable medical products, such as bandages are increasing, fueling the use of these resins.

Growing Sales of Medical Devices & Equipment Fueled Use of Adhesives in These Instruments

Based on application, the market is segmented into medical devices & equipment, external medical applications, dental, internal medical applications, and others. The medical devices & equipment segment accounted for the largest market share in 2023 as the sales of medical instruments is rising owing to increasing number surgeries.

With respect to region, the market covers North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as leading resin types, applications, and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

𝑮𝒆𝒕 𝒂 𝑸𝒖𝒐𝒕𝒆 - https://www.fortunebusinessinsights.com/enquiry/get-a-quote/medical-adhesives-market-102354

Drivers and Restraints:

Growing Demand for Soft-Skin Adhesives to Fuel Market Expansion

Soft-skin adhesives, as the name suggests, are skin-friendly glues used in medical devices. The demand for these adhesives is rising as they are highly biocompatible, which means that they do not cause irritation or scarring while removing a medical device. They have strong adhesion properties, which makes them ideal for use in bandages to offer a long-lasting bond. These features will boost the use of soft-skin adhesives, thereby positively impacting the medical adhesives market growth.

However, the increasing cost of healthcare facilities is expected to hinder the sales of medical adhesives.

Regional Medical Adhesives Market Insights:

Large Population Helped Asia Pacific Dominate Global Market

Asia Pacific is dominating the market as the region has the largest share of the global population. The region also has the one of the largest pools of the elderly population, making them highly susceptible to chronic diseases. These factors are expected to increase the demand for medical devices, which will further fuel the adoption of medical adhesives.

Latin America and the Middle East & Africa will also showcase robust growth in the global market as these regions are witnessing an appreciable increase in the disposable income of their population. Increased disposable income will also increase people's expenditure on healthcare, which will indirectly fuel the product demand.

Competitive Landscape:

Market Leaders to Enter Joint Venture and Capacity Expansions Agreements to Assert Their Dominance

Some of the key market player are taking various steps to expand their overall production capacity to fulfill the strong demand for medical adhesives. They are also signing collaboration and joint venture agreements with other organizations to expand their customer base and assert their dominance in the market.

𝑹𝒆𝒂𝒅 𝑴𝒐𝒓𝒆 𝑰𝒏𝒇𝒐𝒓𝒎𝒂𝒕𝒊𝒐𝒏 - https://www.fortunebusinessinsights.com/medical-adhesives-market-102354

LIST OF KEY COMPANIES PROFILED IN THE REPORT:

Glue Dots (U.S.)
3M (U.S.)
MASTERBOND (U.S.)
Panacol-Elosol GmbH (Germany)
Dymax (U.S.)
Scapa (U.K.)
Permabond (U.S.)
Boyd (U.S.)
G A Lindberg (Sweden)
AVERY DENNISON CORPORATION (U.S.)
Baxter International Inc. (U.S.)
B. Fuller Company (U.S.)
Medical Adhesives Industry Development:

February 2023: 3M introduced a new medical adhesive that sticks to the skin for up to 28 days. The newly launched product will be used with various long-term health monitors, medical wearables, and sensors.

𝑹𝒆𝒍𝒂𝒕𝒆𝒅 𝑹𝒆𝒑𝒐𝒓𝒕𝒔 -

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This release was published on openPR.