Medical adhesives and sealants are chemical formulations that are safe for utilization in bonding applications in the course of medical procedures. The use of adhesives and sealants in medical applications is relatively new, except for their historical utilization in joint implants and dentures. The expanding aging population worldwide is predicted to propel the market for medical services. Advantages such as ease of use, time efficiency, aesthetics, and its noninvasive nature have been the key drivers for increasing adoption of medical adhesives and sealants.
The global medical adhesives and sealants market was valued at US$6.39 billion in 2013, expanding at a 9.2% CAGR between 2014 and 2020, and is expected to be worth US$11.75 billion by 2020.
Acrylic Synthetic Adhesives and Sealants: Largest Product Segment
Synthetic variants such as polyethylene glycol, acrylic, silicone, and cyanoacrylate are available in the medical adhesives and sealants market. Acrylic products surfaced as the largest product segment, constituting for more than 30% of the global medical adhesives and sealants consumed in 2013. Polyethylene glycol and cyanoacrylate are anticipated to be the fastest growing product segments, increasing at a double-digit CAGR between 2014 and 2020 owing to development of formulations used for internal applications. Bio-based medical adhesives and sealants, including fibrin, albumin, and collagen, are likely to exhibit rapid growth during the forecast horizon, due to their biocompatibility.
Collagen is the most extensively used natural medical adhesive and sealant due to high bond strength, elasticity, and biocompatibility. Collagen is a protein constituent in animal connective tissue and possesses excellent adhesive properties. Fibrin is derived from plasma and has a lower bond strength and elasticity than collagen. However, fibrin shows decent performance for blood clotting and in hemostat applications. Silicone products are also predicted to have a favorable outlook, as they are not derived from petroleum feedstock. Therefore, they are not dependent on crude oil price fluctuations. Additionally, silicone products are steady and have exceptional binding properties even at extremely high or low temperatures.
North America: Leading Regional Market for Medical Adhesives and Sealants Market
Geographically, the global medical adhesives and sealants market has been segmented into four major regions: North America, Europe, Asia Pacific, and Rest of World (RoW). In 2013, this market was dominated by North America, which was driven by increased awareness about the advantages of medical adhesives and sealants as well as technological advancements. However, the Asia Pacific market for medical adhesives and sealants is expected to grow vigorously in the future because of high awareness in the medical field and the expanding medical tourism sector. The second biggest share, on the basis of volume, is held by Europe, with a market share of around 30%. However, absence of appropriate reimbursement policies and rigid regulatory norms for medical grade products are the two main limitations on this industry.
The key manufacturers across the four geographies in the global medical adhesives and sealants market are Baxter International, Adhesives Research Inc., Ashland Inc., Avery Dennison, Johnson and Johnson, Henkel AG, CryoLife Inc., HB Fuller, 3M Company, and Dentsply International.
Browse Full Global Medical Adhesives and Sealants Market Research Report With Complete TOC @ https://www.transparencymarketresearch.com/adhesives-and-sealants-market.html
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC