Medical adhesives and sealants are chemical formulations that are safe for use in bonding applications during medical procedures. The use of adhesives and sealants in medical applications is relatively new except in joint implants and dentures.
Increasing aging population across the globe is estimated to boost the market for medical services. Benefits such as ease of use, time efficiency, aesthetics and non-invasiveness have been major drivers for rising adoption of medical adhesives and sealants. However, stringent regulations associated with medical grade products coupled with lack of proper reimbursement policies for medical services are projected to hamper market growth during the forecast period.
In order to reduce their reliance on synthetic (petroleum-derived) medical adhesives and sealants, major industry participants have been shifting their focus towards developing bio-based medical adhesives and sealants over the past few years. Bio-based medical adhesives and sealants based on plasma and protein-derived materials such as collagen, fibrin and albumin offer better biocompatibility for internal applications and are easily absorbed and assimilated in the body
North America continued to dominate the global medical adhesives and sealants market, accounting for over 35% share of the market in 2013. Asia Pacific was the fastest growing market for medical adhesives and sealants, constituting more than a quarter of market share in 2013. The market in the region is likely to grow at a CAGR of approximately 9% between 2014 and 2020. Europe held the second largest share of the market volume in 2013, while RoW occupied the smallest share of the total volume in the same year.
Acrylic products emerged as the largest product segment, accounting for over 30% of the global medical adhesives and sealants consumed in 2013. Polyethylene glycol and cyanoacrylate are expected to be the fastest growing products, expanding at double digit CAGR between 2014 and 2020, due to development of formulations usable for internal applications. Bio-based medical adhesives and sealants including fibrin, albumin and collagen are set to witness rapid growth during the forecast period owing to their superior biocompatibility, and easy absorption and assimilation within the body. Collagen is the most used natural medical adhesive and sealant due to good bond strength, elasticity and biocompatibility. Collagen is a protein constituent in the animal connective tissue and has good adhesive properties. Fibrin is derived from plasma and lacks the bond strength and elasticity of collagen. However, fibrin shows good performance for blood clotting and hemostat applications. Silicone products are also expected to show promising gains as they are not derived from petroleum feedstock hence independent of crude oil price fluctuations. Additionally silicone products are stable and have excellent binding properties at extreme temperatures high or low.
Internal applications constituted about half of the global market demand in 2013 and dominated the market in the same year. Internal applications are likely to be the fastest growing market for medical adhesives and sealants, expanding at a CAGR of over 8% between 2014 and 2020. Dental applications are estimated to witness limited growth due to increased awareness about preventive oral care among general population. External applications are expected to witness increasing gains on account of improving penetration of consumer products such as medical tapes and wound care solutions offered by market players.
The market is partly consolidated with top four players accounting for about half the total market revenue in 2013. Major players are expanding capacities as well as global footprint through acquisitions. Entry barriers are high due to capital intensive nature of the market along with long R&D and testing pipelines for new products. Regulatory authorities maintain strict scrutiny of production processes and the quality of the products to safeguard consumers. Key players in the market include 3M Company, Henkel AG, HB Fuller, Avery Dennison, Baxter International, CryoLife Inc., Johnson and Johnson, Dentsply International, Ashland Inc. and Adhesives Research Inc. among others
Growing demand from electronics and automotive applications supported by increasing pressure from regulatory bodies for better processes with reduction in carbon footprint is expected to fuel the global demand for medical adhesives and sealants. Additionally, increasing demand from labeling and packaging applications attributed to improved inventory management and low cost flexible packaging materials, respectively, are expected to further fuel the demand for medical adhesives and sealants. However, volatile feedstock prices for petroleum based medical adhesives and sealants and regulations against volatile organic compounds (VOC) from solvent based medical adhesives and sealants are expected to hinder market growth of medical adhesives and sealants.
This report gives a detailed description of the global medical adhesives and sealants market based on volume share (kilo tons) and revenue (USD million) for the period 2014 to 2020. The report highlights the factors contributing to the growth of the market and the restraints that impede the market. Detailed forecasts for the years 2014 to 2020 for medical adhesives and sealants have been given separately, for better understanding of the market scenario. The medical adhesives and sealants market is described with respect to their various segments along with the opportunities that are expected in the coming six years.
For geographic analysis, the global medical adhesives and sealants market has been segmented into regions such as North America, Europe, Asia Pacific and Rest of the World. The medical adhesives and sealants market has been segmented based on the following product types – acrylic, silsicones, cyanoacrylate, polyethylene glycol, other synthetic, collagen, fibrin, albumin and other natural The study also analyses market attractiveness for all product segments of medical adhesives and sealants with the help of the market attractiveness tool. The study segments the market on an application basis into internal, external and dental applications. The study provides forecasts and estimates for each application segment in terms of revenue and volume over the forecast period from 2014 to 2020.
For a more comprehensive view of the market, a value chain analysis and Porter’s five forces model is provided to throw light on the specifics of the industry structure besides giving an overview of the degree of competitiveness. The report also includes detailed profiles of key players such as 3M Company, HB Fuller, Henkel AG, Baxter International, Dentsply Limited, CryoLife Inc., Johnson and Johnson, Adhesive Research Inc., Avery Dennison Corporation and Ashland, Inc. The detailed description of players includes parameters such as company overview, financial overview, business strategies and SWOT analysis and recent developments of the company.
To manage the scope of the research certain assumptions were made. Inflation is not a part of pricing in this report. Prices of medical adhesives and sealants vary in each region. Given that different end-users use different types of products, pricing for each application varies according to region while estimating and forecasting market revenue on the global basis. Regional average price has been considered while breaking down the market by product types in each region
The report segments the global medical adhesives and sealants market as:
Medical Adhesives and Sealants Market & Product Segment Analysis
Synthetic medical adhesives and sealants
- Polyethylene glycol
- Other (Including polyisobutylene, polyurethane, epoxy)
Natural medical adhesives and sealants
- Other (Including lysine, cellulose, amino acid derivatives)
Medical Adhesives and Sealants Market – Application Analysis
Medical Adhesives and Sealants Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World