A $11.9 Billion Global Opportunity for Medical Adhesives and Sealants by 2026 - New Research from StrategyR

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Jun 03, 2022, 10:10 ET

SAN FRANCISCO, June 3, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Medical Adhesives and Sealants - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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A $11.9 Billion Global Opportunity for Medical Adhesives and Sealants by 2026 - New Research from StrategyR

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Edition: 20; Released: March 2022
Executive Pool: 7888
Companies: 90 - Players covered include 3M Company; Adhesives Research, Inc.; Advanced Medical Solutions Group plc; Advanced Medical Solutions Israel (Sealantis) Ltd; B. Braun Melsungen AG; Baxter International, Inc.; Becton, Dickinson and Company; CryoLife, Inc.; Dentsply Sirona Inc.; Tricol Biomedical, Inc.; Integra Life Sciences Corporation; Johnson & Johnson/Ethicon Inc.; Kerr Corporation; Medtronic Plc; Procter & Gamble Company; Vivostat A/S and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Acrylic, Silicone, Cyanoacrylate, Collagen, Fibrin, Albumin, Other Product Segments); Technology (Water-based, Solvent-based, Solids & Hot Melt-based); Application (Medical, Dental)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

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ABSTRACT-

Amid the COVID-19 crisis, the global market for Medical Adhesives and Sealants estimated at US$8.8 Billion in the year 2022, is projected to reach a revised size of US$11.9 Billion by 2026, growing at a CAGR of 6.8% over the analysis period. Acrylic, one of the segments analyzed in the report, is projected to grow at a 5.5% CAGR, while growth in the Silicone segment is readjusted to a revised 5.8% CAGR. Prevalence of lifestyle diseases is increasing which is in turn creating a strong demand growth scenario for medical adhesives. Medical adhesives are used in multiple applications including medical devices and equipment, medical tapes, dental devices and would closure devices among others. Medical adhesives and sealants also allow monitoring of sutures and wounds, in a non-invasive manner, enhancing patient comfort. The adhesives offer significant benefits over mechanical methods of bonding. Medical adhesives witnessed significant technological advancements over the years, which led to expansion of their applications into pharmaceutical and biomedical sectors as well. The adhesives are currently witnessing immense uses in different medical and surgical procedures, in securing components in intravenous drug delivery, in plastic surgeries, in urological surgeries, and in assembly of medical products and devices.

Development of new medical technologies and treatments also increases use cases of medical adhesives. The adhesives are increasingly replacing the traditional nylon and cat gut and also the non-absorbable and absorbable surgical staples and sutures used for closing wounds and surgical incisions, longer. Modern medical adhesives and sealants pose low risk of side effects. Manufacturers of these adhesives are also constantly innovating for developing more reliable and robust products. The use of medical adhesive and sealants is largely influenced by the growth of the healthcare and the medical device manufacturing industry. Broad macro trends that act as secondary market forces influencing growth in the market include aging population, rise in surgical procedure volumes, growing importance of diagnosis and diagnostics, development of the healthcare infrastructure, and increase in medical device manufacturing activity, among others. Defined as advanced chemical formulations intended for use in various bonding applications ranging from medical device assembly to surgical closures, medical adhesives and sealants are critical consumables in healthcare. There are different types of medical sealants and adhesives that are based on natural, semi-synthetic or synthetic materials. Collagen- and fiber-based adhesives are most common forms of naturally-derived adhesives. Over the decades, medical adhesives and sealants have witnessed significant technological advancements and improvements in bonding strength, versatility, staying power, tissue biocompatibility and biodegradation. The development of biocompatible adhesives and sealants, including bioresorbable medical adhesives, has especially revolutionized the use of these materials in surgical applications. The promising rise of regenerative medicine is expected to further spur technology and R&D interest in newer, next generation adhesive and sealants as smart engineered biomaterials.

In the medical device industry, adhesives and sealants are used in the manufacture of devices and supplies such as surgical instruments, and numerous other hospital and diagnostic equipment. Few of the primary factors benefiting growth in this application area include stringent device manufacturing standards, developing healthcare infrastructure in emerging countries in sync with exploding demand for medical services and products, establishment of new hospitals and healthcare facilities, and growing investments in state-of-art medical technology and equipment. The increasing sophistication of medical devices is expected to present a favorable ground for the demand of associated raw materials and components. In the medical device manufacturing industry development of environmentally-friendly and non-toxic medical-grade adhesives and sealants has opened up new avenues for growth.

In surgical applications, medical adhesives and sealants play a vital role in surgical wound site closure for controlling bleeding. Surgical sealants are used in several emergency medical settings attributed to their lower costs and effective wound closure features. In general, surgical sealants act as perfect sealing agents primarily used to control bleeding and leaching of fluids post-operation. With their bio-degradability, infection-free nature, and safer application, these sealants gain higher utility than their traditional counterparts. Modern-day surgical procedures such as vascular, and gynecological procedures notch higher usage of these surgical sealants. Basically, adhesives are utilized as resilient bonding agents in many critical internal surgical procedures. Advanced adhesive and sealant products have significantly replaced traditional sutures and staples in innumerable wound closure and medical applications over the past few years. Given their enhanced functionalities and features, advanced medical adhesives and sealants are increasingly being accepted by many medical practitioners in the process of sealing wounded or dissected parts during surgical procedures. Also, given their functional supremacy over traditional sealing methodologies, these adhesive and sealant products are preferred more in many surgical and general orthopedic indications by surgeons/physicians. Some of the key benefits of medical sealants and adhesives driving their popularity as adjuncts to conventional sutures for preventing liquid and air leakages, include superior closure capabilities, faster implementation, low levels of blood loss, reduced procedure time, less post-surgical scarring and aesthetic appeal, faster healing, less pain and patient discomfort, and improved surgical outcomes.

Growing number of surgical procedures as well as increasing popularity for minimally invasive treatments across the globe continues to increase the need for surgical adhesives and sealants including fibrin sealants, cyanoacrylates, gelatin and thrombin products, polyethylene glycol polymers and albumin and glutaraldehyde products. Apart from these dynamics, the continuously expanding base of aging population that is more susceptible to diseases and requires higher medical attention is increasing demand for hemostasis and tissue sealing agents. Moreover, there is a continuous increase in surgical interventions due to trauma conditions caused by natural disasters and road accidents, as well as growing number of sports injuries that are slated to create a healthy demand for hemostasis and tissue sealing agents. Increasing incidence of chronic diseases such as cancers, gastro-intestinal (GI) tract diseases, not only among the elderly but also in younger population categories, has enhanced the need for reconstructive surgeries thus generating a need for effective surgical sealants and adhesives. Also the rise in number of sonorities is driving surgical bleeding risk thereby driving the demand for effective tissue sealants and adhesives

Going forwards, the development and approval of novel products would continue to spur adoption of medical adhesives and sealants in both medical/surgical and non-surgical applications. The growing miniaturization of medical devices and complexity of modern technology is expected to further drive the demand for advanced high-performance adhesives in modern healthcare solutions. Wearable medical devices form one of the emerging applications driving the healthcare sector towards personalized, predictive and preventive care. The promising outlook for the market is expected to result in the influx of new players and investment from companies seeking to tap into the market opportunity. While the ongoing focus of the healthcare industry on cost-cutting measures is expected to result in cost pressures on suppliers across the value chain, consolidation activities such as acquisitions and mergers are anticipated to create new growth opportunities.

With the digital revolution, the healthcare industry is also looking at novel ways of diagnosing, treating, and monitoring patients. Virtual settings have sparked treatments at lower costs and with fewer resources. Wearable medical devices are being increasingly used to monitor health parameters. Cardiac monitors, glucose monitors, time-release medication patches, and other wearables are designed with skin-contact-adhesives. Construction-layer adhesives are also used when manufacturing wearable devices.

Medical adhesives are also used in diagnostics and pharmaceutical innovations, PPE (personal protective equipment), and wound dressings. The BeneHold CHG (chlorhexidine gluconate) antimicrobial adhesive technology from Avery Dennison Medical offers clear visualization of the wound. The thin and transparent dressings help fight bacterial growth. Other developments in the area of medical adhesives include substrates with nanofibers, air-purifying filter media, and materials with wicking properties. The next-generation fabrics and films include novel composites and polymer blends. For such new and innovative adhesive products to be deployed for mass manufacturing, they must be cost-efficient and offer unique patient experiences.

The US market commands the largest global share of the market. Technological advancements, growing awareness among the medical community about the various benefits of medical adhesives and sealants, increasing acceptance of these products among surgeons and physicians, rising number of vascular, pulmonary and cardiovascular surgeries, and reshoring of medical device manufacturing are factors driving growth in the country. Demand is also high in the market for progressive wound dressing products. Europe is another major market for medical adhesives and sealants. Healthcare sectors in European countries are much advanced and the market also witnesses tremendous new product development. Asia-Pacific is forecast to emerge as the fastest growing market led by factors such as rising health awareness, growing population with growing healthcare needs, rising per capita income, volume growth in surgical procedures as a result of the expansion of the medical tourism sector. In addition, supportive regulatory policies, expanding applications, increased research and development investments to develop novel tissue sealants and adhesion barrier solutions will drive growth in Asia-Pacific countries such as India, Thailand, Malaysia, Australia, South Korea. Several medical adhesive and sealant manufacturers find Asia-Pacific countries attractive for setting up their manufacturing facilities because of the factor of low manufacturing costs. More

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