Global Medical Adhesives and Sealants Market, by Product Type (Natural Medical Adhesives and Sealants (Albumin, Collagen, Fibrin, and Others), Synthetic Medical Adhesives and Sealants (Acrylic, Cyanoacrylate, Polyethylene Gycol, Silicones, and Others)), by Application (Dental, External Wounds, and Internal Wounds), by End User (Hospitals, Ambulatory Surgical Centers, Dental, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 11,982.3 Million in 2021 and is expected to exhibit a CAGR of 7.3% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights.
Key players operating in the market are focusing on receiving product approvals from regulatory authorities and this is expected to drive the market growth over the forecast period.
For Instance, in November 2020, Tissium, a medtech company developing biomorphic programmable polymers for tissue reconstruction, received approval from the U.S Food and Drug Administration for its investigational Device Exemption application for its vascular sealants.
Moreover, in February 2021, Toyochem Co., Ltd, the polymer and coating arm of Japan’s Toyo Ink Group, launched a new healthcare-use in line of pressure-sensitive adhesives (PSAs) under its Oribain brand of acrylic adhesive solutions.
Global Medical Adhesives and Sealants Market – Impact of Coronavirus (Covid-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 281,808,270 cases and 5,411,759 deaths due to coronavirus disease (COVID-19) were reported till December 29, 2021, across the globe.
The COVID-19 pandemic has negatively affected several markets across the globe and is also expected to hamper the demand and supply in global medical adhesives and sealants market.
For instance, the National institute for Health Research’s (NIHR) Unit on Global Surgery, a government agency in the U.K, has put together CovidSurg, a collaborative of researchers who have created a platform of studies that explore the impact that coronavirus has had and continue to have on surgeons, surgical department and patients around the globe. The study reveals that a total of 28.4 million operations were postponed or cancelled during the 12 weeks COVID-19 surge.
Browse 38 Market Data Tables and 26 Figures spread through 155 Pages and in-depth TOC on “Medical Adhesives and Sealants Market”- Global Forecast to 2028, by Product Type (Natural Medical Adhesives and Sealants (Albumin, Collagen, Fibrin, and Others), Synthetic Medical Adhesives and Sealants (Acrylic, Cyanoacrylate, Polyethylene Gycol, Silicones, and Others)), by Application (Dental, External Wounds, and Internal Wounds), by End User (Hospitals, Ambulatory Surgical Centers, Dental and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key players operating in the market are focusing on adoption of inorganic growth strategies such as mergers, collaborations, partnerships, and acquisitions, in order to strengthen their position in the global market. For instance, in August 2020, Henkel, a global manufacturer of adhesives acquired, Consumer sealants division of Momentive Performance Materials, a leading supplier of silicone-based and other specialty chemical products
Key Takeaways of the Global Medical Adhesives and Sealants Market:
The global medical adhesives and sealants market is expected to exhibit a CAGR of 7.3% over the forecast period, owing to rising launches and regulatory approvals of products. For instance, in April 2021, 3M, a Multinational conglomerate company, announced its latest addition to a new class of silicone adhesives that balances strength, flexibility, and comfort. The 2484 3M Hi-Tack silicon adhesive is breathable and conformable.
Among product type, synthetic medical adhesives and sealant segment is expected to account for largest market share during the forecast period, owing to rising number of medical implantation/transplantation procedures being carried out around the world and rising adoption of minimally invasive procedures. For instance, according to Global Observatory on Donation and Transplantation 153,863 organ transplants were performed in 2019 worldwide.
Key players operating in the global medical adhesives and sealants market include 3M, Adhesion Biomedical, Bostik Ltd, Henkel AG & Company, B. Braun Melsungen, CryoLife, Inc, Itac Ltd, Ethicon Inc, Chemence Ltd, Covidien Ltd, GluStitch Inc, Cyberbond LLC, Adhezion Biomedical, Cohera Medical, Inc, Baxter International Inc, GEM S.r.l, Meyer-Haake Gmbh, Biocoral, Inc, Scapa Healthcare, Lohmann GmbH, and Mercator Medical.