PUNE, India, Nov. 12, 2020 (GLOBE NEWSWIRE) -- The Global Medical Adhesives Market, Trends, Analysis and forecasts 2020-30 gives a brief idea on the key developments, business strategies, research & latest innovations and key events in the industry and market composition analysis.
The Global Medical Adhesives Market was worth US$ 9.7 billion in 2019 and is expected to reach US$ 23 billion by 2030 at a CAGR of 8.2%. Medical Adhesives are the products, which are used to secure broken parts, aiding in skin protection, healing and non- invasive monitoring. The product ranges from various medical glues, tapes, pastes, dressing, electrode, patches and ostomy supplies. These adhesives are used to bond two different surfaces together. They are used in dental procedures and are also used in construction and manufacturing of medical devices that are used both in critical and non-critical units. According to the physicians and healthcare personals, a broken human skin could easily be infected when it is not dressed properly. Wound closure is done using adhesives that are either natural or synthetic in nature. The Medical Adhesives Market has a large scope of application, as there is a potential increase in the number of healthcare institutions, increase in the medical devices that are created for these institutions with the growing demand for advanced healthcare systems. Increasing demand for medical adhesives across different industries such as dental, medical device & equipment manufacturing industry is a major factor that is estimated to increase the growth of the global market of Medical Adhesives over the next few years.
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High Adoption from medical aesthetic Industry
The medical Adhesives also play a major role in the cosmetic surgery process. There is a great scope for the market as social media influencers, Youtubers, music stars and celebrities have accepted cosmetic surgery processes more openly now than that in the past. The primary driving forces behind the Medical Adhesives Market are, aging problems that deem dental procedures necessary, the rise in road accidents, increasing healthcare institutions, increase in the number of cosmetic surgeries and increase in the manufacture of various medical instruments that are used in the medical institutions. The biggest challenge in this market is the variations of skin types globally. This is a hindrance to create a global generic product. Another challenge faced by the market is the fluctuations in the price of raw materials. When the raw material price increases, it hampers the profitability.
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Internal Medical Application and Dental clinics are Anticipated to Dominate the Global Market
The medical adhesives are used for surgery, joint replacements and therapies. They are used in dental clinics as dental adhesives and sealants. Healthcare centres in form of medical devices passively use the Adhesives too. This makes them the highest revenue-generating buyer for this market. The dental application market plays a major role in the global market as the aging problem is a common phenomenon leading to tooth decay and similar problems there by creating a need for medical adhesives. Medical Adhesives are of two types, the natural resin type and the synthetic type. The synthetic adhesives like epoxy synthetic and semi-synthetic revenue is of great demand in the dental market and it is also anticipated to set a highest growth in the forecast period making the dental application market a major player in the global scenario. As long as the healthcare sector prevails, there is a huge scope of growth for the Medical Adhesives Market.
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North America dominates the global market for Medical Adhesives
North America has the biggest scope for Medical Adhesives Market. It is because of the presence of advanced Healthcare Systems present in that region. More specifically in North America, the US and Canada are said to have the biggest market.
The Asia-Pacific is the densely populated region and has two of main fastest growing markets- India and China. Increase in lifestyle disorders such as diabetes and higher road accidents in these countries have created the demand for better wound closure adhesives. This demand is satiated by the growing healthcare sector in these countries, which makes them the fastest growing marketplace for Medical Adhesives Market. Furthermore, Europe is anticipated to witness moderate growth during the period of research study.
Major key players in the global market for Medical Adhesives
Some of the prominent players involved in global Medical Adhesives Market include, 3M Company, Johnson & Johnson, Braun Melsungen AG, Medtronic plc and Baxter International Inc among others.
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