The medical adhesives market is projected to grow from USD 7. 6 billion in 2019 to USD 10. 6 billion by 2024, at a CAGR of 6. 8% between 2019 and 2024. The increasing use of single-use disposable medical products and the growth of the medical implantable devices market are driving the medical adhesives market.
New York, Feb. 07, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Adhesives Market by Natural Resin Type, Synthetic & Semi-synthetic Resin, Technology, Application, Region - Global Forecast to 2024" - https://www.reportlinker.com/p05844650/?utm_source=GNW
However, rising costs of healthcare facilities and low shelf-life of adhesives are expected to hamper the growth of the market.
Acrylic resin is estimated to have the largest share of the overall medical adhesives market during the forecast period.
The acrylic resin segment accounts for the largest share of the medical adhesives market in the synthetic resin segment.Unlike other resins, acrylic offers high bonding strength without the need for surface preparation.
Acrylic-based medical adhesives find use in medical device assembly, orthopedic surgeries, dental treatments, PSA, and other disposable medical products.
The medical adhesives market projected to witness the highest CAGR in dental application during the forecast period.
The dental segment is the fastest-growing application of medical adhesives.Dental adhesives provide retention to composite fillings or composite cement.
These adhesives find use in pit & fissure sealants and dental restoration applications.
North America is estimated to dominate the global medical adhesives market.
North America accounted for a share of 38.0% of the global market, in terms of value, in 2018. The region is also projected to be the largest market between 2019 and 2024 due to the increase in demand for single-use disposable medical products and high growth in the medical implants market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the medical adhesives market, and information was gathered from secondary research to determine and verify the market size of several segments and sub-segments.
Breakdown of Primary Interviews:
• By Company Type: Tier 1 – 50%, Tier 2 – 30%, and Tier 3 – 20%
• By Designation: C Level – 30%, D Level – 20%, and Others – 50%
• By Region: APAC – 30%, North America – 30%, Europe – 20%, South America- 10%, and the Middle East & Africa – 10%
The key companies profiled in this report are Ethicon, Inc. (Johnson & Johnson Services) (US), Henkel AG & CO. KGAA (Germany), 3M Company (US), and Baxter International Inc. (US).
This report provides detailed segmentation of the medical adhesives market based on resin type, technology, end-use industry, and region.Based on resin type, the medical adhesives market has been segmented into thermoset and thermoplastic.
Based on technology, the market has been segmented into solvent-borne, 100% solids, and dispersion.Based on end-use industry, the market has been segmented into automotive & transportation, building & construction, packaging, footwear, industrial, and furniture & decoration.
Based on region, the market has been segmented into APAC, Europe, North America, South America, and the Middle East & Africa.
Key Benefits of Buying the Report
From an insight perspective, this research report focuses on various levels of analyses — industry analysis (industry trends), market share analysis of top players, and company profiles. It discusses the basic views on the competitive landscape; emerging and high-growth segments of the market; high growth regions; and market drivers, restraints, opportunities, and challenges.
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