Global Medical Adhesives Market is valued at USD 11.20 Billion in 2022 and it is expected to reach USD 17.91 Billion by 2029 with a CAGR of 6.94% over the forecast period.
Medical adhesives are products that are designed to bond two surfaces together in medical applications. These adhesives are used in a variety of applications such as wound closure, medical device assembly, and drug delivery. Medical adhesives offer several advantages over traditional medical fastening methods such as sutures, staples, and clips, including reduced scarring, faster healing, and greater flexibility.
The use of adhesives in medicine dates back to the early 1900s when surgeons began using cyanoacrylate-based adhesives to close wounds. Over the years, the use of medical adhesives has grown significantly, and today, there are a wide variety of medical adhesives available on the market. Medical adhesives are used in a variety of applications such as wound closure, medical device assembly, and drug delivery. These are also used in surgical procedures, including cardiovascular surgery, orthopedic surgery, and plastic surgery. Medical adhesives are used by a wide range of healthcare providers, including hospitals, clinics, and ambulatory surgical centers.
The medical adhesives market generates revenue through the sale of medical adhesives and related products to healthcare providers.
The supply chain for medical adhesives typically involves the manufacture of the adhesive products by the supplier, distribution of the products to distributors and wholesalers, and ultimately delivery to healthcare providers.
The value chain for medical adhesives includes the research and development of new adhesive products, manufacturing of the products, marketing and distribution to healthcare providers, and ongoing support and service to ensure the products are used effectively.
The COVID-19 pandemic had both positive and negative impacts on the medical adhesives market. On the positive side, there was an increase in demand for medical adhesives due to the increased need for medical equipment and supplies, particularly for the manufacturing of personal protective equipment (PPE), including masks and face shields. Additionally, there was an increase in demand for medical adhesives for use in medical devices and equipment, such as ventilators and diagnostic equipment.
On the negative side, the pandemic led to a decrease in elective surgeries, which impacted the demand for medical adhesives in wound closure applications. The pandemic also disrupted supply chains, resulting in shortages of raw materials, and disrupted manufacturing operations, leading to delays in product delivery.
Growing demand for minimally invasive surgeries: driven by several factors, including a desire for faster recovery times, reduced scarring, and fewer complications compared to traditional open surgeries. Additionally, advancements in surgical technologies and techniques have made it possible to perform an increasing number of procedures using minimally invasive techniques. According to the World Health Organization (WHO), over 300 million surgical procedures are performed globally each year, with an increasing proportion of these procedures being performed using minimally invasive techniques.
Minimally invasive surgeries also offer the benefit of reduced hospital stays, lower healthcare costs, and improved patient outcomes, which has led to an increasing preference for these procedures among patients and healthcare providers alike. The Centers for Disease Control and Prevention (CDC) estimates that in the United States, over 17 million minimally invasive surgical procedures are performed annually, with the number of procedures continuing to increase each year.
The increasing geriatric population and prevalence of chronic diseases: are driving the demand for medical adhesives due to the higher incidence of conditions such as diabetes, cardiovascular disease, and cancer in this population. The National Council on Aging reports that 80% of older adults have at least one chronic disease, and 68% have two or more chronic diseases. Elderly patients and those with chronic diseases may have compromised skin and reduced healing ability, making traditional wound closure methods less effective. Medical adhesives offer a more gentle and efficient alternative for wound closure and can also be used for drug delivery and medical device fixation, making them an increasingly important component of patient care.
High cost: The high cost of medical adhesives is a significant restraint for the market due to the availability of alternative products such as sutures and staples that are more cost-effective. Additionally, some healthcare providers may not be willing to invest in expensive medical adhesives, especially in low-income regions, which limits the adoption of these products. Moreover, the high cost of medical adhesives may increase the overall cost of treatment, which could discourage patients from seeking treatment. As a result, manufacturers are focusing on developing cost-effective and efficient medical adhesives to reduce the burden of cost on patients and healthcare providers. For example, some fibrin sealant products can cost up to $1,500 per unit, while some cyanoacrylate-based adhesives can cost around $50 per unit.
Product and Technology Development:
Development of bio-based and biodegradable medical adhesives, use of nanotechnology in medical adhesives, development of medical adhesives with improved strength, flexibility, and durability, and the integration of smart technology into medical adhesives to provide real-time monitoring and feedback on wound healing.
Increasing preference for minimally invasive surgical procedures and wound closure methods, growing demand for medical adhesives that provide faster healing, reduced scarring, and improved cosmetic outcomes, and rising demand for medical adhesives that are easy to apply and remove, and provide superior wound closure.
The medical adhesives market is highly competitive, with several key players operating globally. Some past and future strategies employed by these key market players include:
The North American medical adhesives market is dominated by the United States, which is the largest market for medical adhesives in the region. The market growth in the United States is driven by the presence of well-established healthcare infrastructure, the increasing prevalence of chronic diseases, and the growing demand for minimally invasive surgical procedures. Additionally, the increasing use of medical devices and equipment in the region is also contributing to the growth of the medical adhesives market.
Europe is a significant market for medical adhesives, with countries such as Germany, France, and the United Kingdom being the major contributors to the market growth. The increasing incidence of chronic diseases such as diabetes, cancer, and cardiovascular diseases, along with the growing aging population, is driving the demand for medical adhesives in the region. The European Chronic Disease Alliance (ECDA) reported that in 2018, over 85 million people in Europe had at least one chronic disease, and this number is expected to increase by 15% by 2030. In particular, the prevalence of diabetes is expected to rise by 15% by 2030, affecting around 58 million people in Europe. The incidence of cancer is also expected to increase, with an estimated 4.3 million new cases diagnosed in Europe each year.
Additionally, the presence of well-established healthcare infrastructure and increasing investments in R&D activities are contributing to the growth of the market in Europe. The market players in Europe are focusing on developing bio-based medical adhesives, which are expected to witness higher demand due to their eco-friendliness and biocompatibility. Regulatory bodies such as the European Medicines Agency (EMA) and European Union Medical Device Regulation (EU MDR) ensure the safety and efficacy of medical adhesives in the European market, making it a highly regulated market.