Medical Adhesives Market Insights, Leading Players, Growth and Future Scope

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Globally, the demand for disposable medical devices and equipment is surging due to the increasing number of patients requiring long-term care, surgeries, and drug deliveries. Moreover, the increasing focus on preventing hospital-acquired infections, which are diagnosed in 1 in 31 hospital patients each day in the U.S., as per the CDC, has boosted the demand for various disposable medical devices in multiple healthcare settings. Hence, the enhancements in infection prevention standards are raising the demand for single-use medical products, which ultimately fuels the demand for adhesives.

Another factor that will drive the medical adhesives market to $16,367.2 million by 2030, at a 2.3% CAGR during this decade, is the improving macroeconomic factors and surging health awareness in emerging economies. China, India, and Brazil are witnessing a growth in the GDP, which has resulted in the increasing purchasing power of the citizens. Hence, people in these nations now have more to spend on medicines, medical devices, and pharmaceutical products. Moreover, the rising affordability of healthcare is driving the footfall in medical settings, thereby boosting the demand for the associated adhesives.

The adhesives used in healthcare applications can have water, an array of solvents, or a wide range of hot-melts and other solids as their base. Among these, water-based variants are set to witness the fastest-rising demand in the years to come. This will be due to their beneficial features, such as good anchorage to cloth face stocks, quick tackiness, and provision of good breathability. In addition, the higher resistance to moisture and better sustainability they offer are propelling the demand for water-based adhesives in medical devices.

Based on application, the medical adhesives market is expected to witness the generation of the highest revenue in the internal medical application category in the coming years. It will be due to the surging application of bio-based adhesives for internal medical purposes. For reducing the bleeding and the chances of post-surgical complications, tissues need to be properly sealed and joined. Since solvent-based adhesives can be harmful to the internal organs, bio-based variants are being used for intracorporeal purposes.

Globally, the Asia-Pacific (APAC) region is expected to demonstrate a rapid growth in the demand for medical adhesives in the coming years, due to its vast population. Additionally, the rising number of initiatives taken by the government to boost the access to healthcare and surging manufacturing of high-tech medical products are contributing in this regard. Moreover, the booming healthcare spending in the APAC region is propelling the consumption of medical adhesives. All this can be attributed to the rising number of people with chronic and acute diseases and growing surgery volume.

Because of the same reasons, North America held the largest medical adhesives market share in the past. The CDC estimates the annual CVD-related mortality in the U.S. at 659,000, or 1 in 4 deaths. The rising CVD incidence has been driving the volume of various diagnostic and surgical procedures, which is leading to a surging demand for adhesives for medical devices. For instance, the electrodes used for EKG have a gel-like adhesive substance, which affixes the electrode to the skin and senses the electrical pulses inside the body.

Therefore, the growing number of people requiring healthcare is driving the demand for medical adhesives.

Read more: https://www.psmarketresearch.com/market-analysis/medical-adhesives-market-report