Impact of Existing & Emerging Stand-Up on Medical Adhesives Market Industry & Recent Developments

The medical adhesive market is projected to grow from USD 8.8 billion in 2021 to USD 12.3 billion by 2026, at a CAGR of 7.0% between 2021 and 2026. North America is estimated to be the largest consumer of Medical adhesives. The global Medical adhesives market is driven by the growing demand for cyanoacrylate-based tissue adhesives.

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Browse?257 market data Tables and?45 Figures spread through?280 Pages and in-depth TOC on "Medical Adhesives Market by Natural Type, Synthetic & Semi-synthetic Resin Type (Acrylic, Silicone, Cyanoacrylate, PU, Epoxy), Technology (Water based, Solvent based, and Solids and Hot melts), Application, and Region - Global Forecast"

The key players operating in the market are Ethicon, Inc. (US), 3M (US), Henkel AG & CO KGAA (Germany), Baxter International (US), and B.Braun Melsungen AG (Germany). These players have adopted various strategies, such as mergers & acquisition, investment & expansion, and new product launch to grow in the market. Mergers & acquisitions is the key strategy adopted by the major players between 2020 and 2026. This strategy helped companies enhance their global presence.

Ethicon, Inc. (US) has achieved growth by overcoming changes in the times and business environment and became a worldwide leader of the cyano-acrylate-based medical adhesives market. The company has always made their innovation in the field of surgical technologies and solutions, including sutures, staplers, adhesives, energy devices, trocars, and hemostats along with the interventional ablation, robotics, and digital solutions. It is a dominant player in the sutures and staples market and has its operations in more than 60 countries. Its product portfolio includes surgical sutures, wound closure, and cardiovascular surgical products such as topical adhesives, surgical meshes, needles, and wound drains, among others. Its major product line for medical adhesives is marketed under the brand name ‘Dermabond.’

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3M (US) has a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. Earlier it operated through five business segments—industrial, safety and graphics, electronics & energy, health care, and consumer but recently it has started serving in the following four segments: safety and industrial, transportation and electronics, health care and consumer. The company manufactures more than 60,000 products, which are used in different industries, institutes, and businesses with the help of workforce of approximately 95,000 people, with approximately 40,000 employees in the US and 55,000 employed internationally.

Recent Developments in Medical Adhesives Market

• In July 2021, Baxter International has announced the acquisition of PerClot Polysachharide Hemostatic System from CryoLife, Inc. for upto USD 60.8 million.
• In April 2019, Baxter announced the reception of the US Food & Drug Administration (FDA) approval for the faster preparation of FLOSEAL hemostatic matrix, a hemostatic product, at the 2019 Association of Perioperative Registered Nurses (AORN) global surgical conference and expo.

The Medical adhesive market is projected to grow from USD 8.8 billion in 2021 to USD 12.3 billion by 2026, at a CAGR of 7.0% between 2021 and 2026. North America is estimated to be the largest consumer of Medical adhesives. The global Medical adhesives market is driven by increase in demand for single-use disposable medical products.

North America is expected to be the largest market for Medical adhesives. This growth indicates the prominence of the North American market. Several factors have contributed to the rise of North America as one of the leading regions for medical adhesives. These factors include the aging population, increased awareness about the benefits of non-invasive surgery procedures, and technological advancements in the healthcare industry that have led to the surge in the use of medical adhesives in the region, especially in the US and Canada. North America has also been witnessing a higher demand for implant procedures, such as prosthetic hips and knees, which has led to an increase in the manufacturing of these specialized products across the region. Global, as well as domestic players - Ethicon, 3M, Baxter, and Adhezion Biomedical, are some of the key players in the region.

The Surgical application is expected to lead the overall Medical adhesives market in terms of value, between 2021 and 2026. Medical adhesives are gaining importance in the surgical industry, as the key benefit of applying an adhesive layer with stitches on a wound closure is that the adhesive overlays the entire wound as a whole. This coverage acts as a preventive measure from secondary bleeding, thus reducing the risk of infection during the healing process. Gluing the skin is a quick method that saves surgery time, along with being low-cost. This method has aesthetic benefits as it does not involve stitch removal.

?Ethicon, Inc. (US), 3M (US), Henkel AG & CO KGAA (Germany), Baxter International (US), and B.Braun Melsungen AG (Germany) are the key players in the global Medical adhesives market. These market players are expected to undertake various growth strategies, such as investment & expansion, mergers and acquisitions, and new product launch to expand their overall businesses and tap the opportunities in the fast-growing economies. Major players are focusing on strengthening their R&D facilities to provide cost-effective products and investment in emerging markets. These products are manufactured adhering to regulations implemented by governments. All such developments are expected to lead to the sustainable growth of the Medical adhesives market players over the next five years.