A new market study, titled “Discover Global Medical Adhesives Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
Global Medical Adhesives Market
According to a recent report by the U.S National Library of Medicine and National Institute of Health, skin wounds are one of the biggest threats to humans and every year chronic wounds in USA results in a mammoth financial loss of around $25 Billion. Wound closure is performed by using Medical Adhesives which not only help in closure of wounds but further stops spread of infection or irritation.
The Global Medical Adhesives Market is valued at $9.59 Billion and it is anticipated to grow at CAGR of 8.34% for the 2019-2026 period.
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Key Players of Global Medical Adhesives Market =>
H.B. Fuller, 3M Company, Ashland Inc., Bostik SA, Henkel AG & Company, KGaA, Chemence Medical, Inc., Avery Dennison Corporation, The DOW Chemical Company, Cohera Medical, Inc., and ETHICON INC. (JOHNSON & JOHNSON)
Segmentation:
The Global Medical Adhesives Market has been segmented based upon resin, technology and application.
Based upon the resin segment, the Global Medical Adhesive market is divided into natural, synthetic and semi-synthetic. Natural raisin are categorized as Collagen, Fibrin, and Albumin. Synthetic and semi-synthetic are categorized as Acrylic, Polyurethane, Epoxy, Silicone and Others.
Based upon the technology segment, the global medical adhesive market is sub divided as Water based, Solvent based, Hot melt, Reactive and others.
Based upon the application segment, the global adhesive market is categorized as dental, medical device and equipment, internal medical application and external medical application.
Regional Analysis:
The Global Medical Adhesives market study has been divided primarily into five key regions. These are North America, Latin America, Europe, Asia-Pacific and Africa. The North America itself contributes to almost 25% of global market and is likely to continue to dominate. The presence of major pharmaceuticals companies and high investment has resulted in the high demand.
Europe is considerably growing market due to a high population of senior citizens and surge in demand for medical adhesives. Europe has also witnessed a hike in medical related spending and the market is anticipated to grow subject to these changes. Due to above changes, the region has also witnessed tremendous innovation and new product concept for internal medical application.
Asia-Pacific has seen a spurt in demand for Medical Adhesives due to emerging economies and high road accident related casualties in the recent past. In terms of revenue, due to high population density, Asia-Pacific remains as highly favorable. The high growth rate along with increase in healthcare spending are primary factors driving the market growth in the region.
Latin America and Africa is expected to see a spurt in demand for medical adhesives due to rising cases of chronic diseases in the region.
Industry News:
A major challenge for the global medical adhesive market is the varying skin types according to regional ethnicity and major research and development needs to be made in that regard to create products which are universal in nature.
A recent World Health Organisation report stated that globally there are 1.35 million deaths occur in road accidents and the global population is suffering from an epidemic of unhealthy lifestyle. This factors further expands the application of the medical adhesive market both in external and internal medical application.
With a rise in chronic illness and road related accidents, the rise in healthcare spending in emerging economies would be a major boost for the growth and consolidation of the Global Medical Adhesive market.
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