The global medical adhesives therapeutics market is anticipated to grow at a significant CAGR of 30.1% during the forecast period. Medical adhesives therapeutics are used in medicine to stick medical devices, dress, and patching of skin, in fabricating components of medical devices, and seal wounds. Tapes, electrodes, dressings, and patches are the most common type of medical adhesives used in medical applications. It is majorly used in surgical applications in place of staples and sutures. It is also used in bone and enamel reconstruction during orthopedic and dental surgery. Increasing medical and non-medical applications of medical adhesives are driving the growth of the market.

The increasing geriatric population and increasing demand for medical adhesives in surgical procedures are estimated to be one of the major factors that are augmenting the growth of the market. Additionally, surging demand for medical adhesives for automotive and electronics applications, miniaturization of the medical devices, government regulations for minimizing the carbon footprints, and rising demand for medical adhesives in packaging and labeling application are also estimated to be one of the major factors that are driving the growth of the market across the globe.

However, the volatile price of petroleum-based medical adhesives, along with the lack of reimbursement policies for the use of synthetic-grade products are estimated to be the major factors that are hampering the growth of the medical adhesives market. Besides these restraints, continuous innovation in medical adhesives and increasing demand from emerging economies such as India, China, and Brazil are developing numerous expansion opportunities for the growth of the market.

Impact of COVID-19 Pandemic on Global Medical Adhesives Therapeutics Market

The COVID-19 pandemic has infected various people and various governments imposed a lockdown to curb the spread of the virus. To bring the issue under control, economies and healthcare systems are under tremendous strain. In less than three months, COVID-19 spread from Wuhan, China, to approximately 160 countries. COVID-19 was declared a pandemic by the WHO on March 11, 2020. To handle the problem, governments are taking a variety of measures. For instance, in India, as the number of confirmed cases rises, officials have added 12,000 beds to central government facilities, including the Indian Army and Central Armed Police Forces (CAPFs) facilities. As a result, with an increase in many beds in the hospital has affected the medical adhesive therapeutics market positively. 

Segmental Outlook 

The global medical adhesives therapeutics market is analyzed based on the products and applications. Based on the product, our market is segmented into natural resins and synthetic resins. Natural resins are further divided into collagen, fibrin, and others. Natural resins are estimated to account for a lucrative share in the global medical adhesives market. Furthermore, based on the applications, the market is bifurcated into dental applications, external medical applications, internal medical applications, medical devices and equipment, and others. Internal medical application is estimated to be the leading application of medical adhesives. Whereas, the external medical application is estimated to grow with the highest growth rate during the forecast period. 

Global Medical Adhesives Therapeutics Market Share by Product, 2021 (%)

The Synthetic Resins Segment is Expected to Hold a Prominent Share in the Global Medical Adhesives Therapeutics Market

The market is growing due to the increasing application of synthetic resins for several applications, such as acrylic resins for skin contact applications due to their inherent tack, strong oxidative stability, and easy adaptability to a variety of requirements, including less skin irritation and better reusability. The silicone adhesives, which possess several potential advantages, are regarded as an ideal solution for prolonged use of the dressing and electronic patch. It has a significantly higher moisture vapor transmission rate and fluid handling capacity than other adhesives, which are crucial factors that govern patients’ comfort during long-term applications.

Regional Outlooks

The global medical adhesives therapeutics market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The North American region is anticipated to be the fastest-growing region in the medical adhesives therapeutics market owing to its increasing geriatric population and high awareness about the advantages of medical adhesives in the region. Furthermore, the wide application of medical adhesives in packaging is also one of the major factors that are backing the growth of the market in the region.

Global Medical Adhesives Therapeutics Market Growth, by Region 2022-2028

The North American Region is Anticipated to hold the Prominent Share in the Global Medical Adhesives Therapeutics Market

The growing incidence of pressure ulcers (PU) due to the aging population is one of the major factors propelling market growth in the region. Moreover, the increased per capita healthcare expenditure and the presence of major market players are driving the market in the region. Europe is another significant region in the global medical adhesives market due to the increasing number of surgical procedures that utilize medical adhesives. Further, the increasing prevalence of osteoporosis is also contributing to the market growth in the region, owing to the increased risk associated with various types of fractures which increases the demand for adhesives in medical tapes and bandages to support fractured bones. 

Market Players Outlook

The major companies serving the global medical adhesives therapeutics market include 3M Co., Ashland Global Holdings Inc., and B. Braun Melsungen AG, among others. The companies are focusing on product innovations, expansions, mergers and acquisitions, and finding a new market in their core competency to expand individual market share. For instance, in In July 2021, Baxter International acquired of PerClot Polysachharide Hemostatic System from CryoLife, Inc. for up to $60.8 million to expand its medical adhesives product portfolio.

The Report Covers

• Market value data analysis of 2021 and forecast to 2028.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global medical adhesives therapeutics market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.