Medical Adhesives Market Size, Share & Industry Analysis, By Resin Type (Semi-synthetic & Synthetic and Natural), By Application (Medical Devices & Equipment, External Medical Applications, Dental, Internal Medical Applications, and Others), and Regional Forecast, 2024-2032

The global medical adhesives market size was valued at USD 8.65 billion in 2023 and is projected to grow from USD 9.28 billion in 2024 to USD 16.56 billion by 2032, exhibiting a CAGR of 7.5% during the forecast period. Asia Pacific dominated the medical adhesives market with a market share of 36.88% in 2023.

Medical adhesives are products used for bonding purposes in different products and applications, including medical devices & equipment, external healthcare applications, dental, internal applications, and others. The major products for which medical adhesives are used include syringes, dialysis systems, tube connections, blood bags, and many other products used for internal and external applications. The rising consumer expenditure, coupled with advancements in the medical field, is anticipated to boost the medical adhesives market growth in the future.

The COVID-19 pandemic had a mixed impact on the global market. Manufacturing operations were stalled due to the disruption of supply chains and restrictions on movement imposed by several countries. However, there was a significant rise in demand for medical adhesives for external medical applications. The rise in demand, coupled with reduced production, resulted in a demand-supply gap. However, with gradual control over the spread of the pandemic, the market started recovering at a considerable rate and is anticipated to have significant growth prospects in the future.

Medical Adhesives Market Trends

Rising Demand for Soft-Skin Adhesives to Present Lucrative Opportunities for Market Growth

The increasing popularity of soft-skin adhesives for medical applications is anticipated to fuel market growth in the future. Soft-skin adhesives are designed to provide an effective and long-lasting bond that can be easily removed without causing damage or discomfort to the skin. They are primarily used for affixing bandages and other medical products to the skin. The recent past has observed that these adhesives have become a go-to solution for skin attachments. Moreover, the increasing demand for medical adhesive for wound dressings, wearable medical devices, and skin therapies is anticipated to bolster the market growth in the future.

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Medical Adhesives Market Growth Factors

Increasing Demand for Medical Devices & Equipment to Drive Market Growth

Adhesives play a crucial role in the assembly of medical devices. This assembly requires adhesives with maximum performance and reliability which is uncommon in other industries. Therefore, the medical industry demands special quality adhesives that comply with different standards and regulations for medical use. Rising consumer expenditure has given a push to the growth of the medical sector, which has increased the demand for medical devices and equipment used in different medical conditions, thereby driving the medical adhesives market growth.

In recent years, there has been a significant rise in the demand for single-use medical products. These products come with several advantages over traditional medical products made of stainless steel.  Single-use medical products are generally manufactured by automated processes where the quality of bonding adhesives plays a crucial role. Therefore, the growing demand for single-use medical products with higher efficiency and regulatory compliance is pushing the demand for medical adhesives.

RESTRAINING FACTORS

Increasing Cost of Healthcare Facilities to Limit Market Growth

The increasing cost of healthcare facilities is limiting the growth of the market. The manufacturers of medical products and healthcare facility providers control the cost of the healthcare facilities. However, they can control the price only up to a certain limit since the prices of raw materials play a crucial role, which is witnessing an increasing trend. Though the rising consumer expenditure has raised the accessibility of healthcare facilities, it is beyond the reach of many lower-income families in several developing and underdeveloped countries. Therefore, the higher cost of healthcare facilities is limiting the market growth.

Medical Adhesives Market Segmentation Analysis

By Resin Type Analysis

Semi-synthetic & Synthetic Segment Holds Major Market Share Owing to Relatively Lower Prices

Based on resin type, the market is segmented into semi-synthetic & synthetic and natural. The semi-synthetic & synthetic segment held the largest market share in 2023 and is anticipated to retain its position during the forecast period. The semi-synthetic & synthetic resins used for making medical adhesives include acrylics or cyanoacrylates, silicones, and polyurethanes, which have relatively lower prices than natural resins. Acrylates or cyanoacrylates, reduce infection and scarring and are mainly used for bandages and other disposable medical applications. Silicones are popular for their biocompatibility and used in different internal and external medical products. Polyurethanes have significant water resistance and are used primarily for bandage adhesives and other adhesives used for external applications.

The natural segment also holds a considerable market share and is growing at a significant rate owing to increasing demand for sustainable products. These adhesives are composed of various proteins and often used in surgical applications. Various fibrin-based adhesives form the major component of natural adhesives and are used in different blood vessel-related surgical procedures.

By Application Analysis

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Medical Devices & Equipment Segment Dominated Market Owing to Increasing Demand for Wearable Medical Devices

Based on application, the market is segmented into medical devices & equipment, external medical applications, dental, internal medical applications, and others.

The medical devices & equipment segment held the largest share of the global market in 2023. The segment is anticipated to retain its dominance during the forecast period owing to increasing demand for medical devices and equipment across the world. Many types of medical devices and equipment, including wearable, standalone, and implantable depend on the adhesives for their assembly. Medical adhesives provide better reliability and high performance to these devices, which is not common in other industries.

The external medical applications segment holds a significant market share and is anticipated to grow at a considerable rate owing to the tremendous demand for external medical products. The primary external medical products for which adhesives are in high demand include transdermal products for topical applications, bandages, wound dressings, dressing tapes, wound care dressings, and tapes.

The internal medical applications segment is anticipated to grow at a considerable rate owing to increasing technological advancements in organ transplants and complicated surgical procedures. Various medical devices and equipment play a crucial role in these applications, of which medical adhesives are integral factors as they determine their reliability and performance. The other applications of medical adhesives include assistive equipment and other related products, which are witnessing a rising demand due to increasing cases of accidents, further driving the market growth.

REGIONAL INSIGHTS

Regionally, the market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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The market in Asia Pacific was valued at USD 3.19 billion in 2023 and accounted for the largest medical adhesives market share due to the growing medical & healthcare industry in the region. Asia Pacific accounts for the largest share of the global population, and the robust demand for medical products will drive the regional market. Rapid industrialization has raised consumer expenditure in the region, resulting in more people affording medical and healthcare facilities. Moreover, rising advancements in the medical & healthcare industry in the region have pushed medical tourism in emerging economies, including China and India. Therefore, increasing innovations in the development of medical devices & equipment and advancements in healthcare facilities are anticipated to boost the market growth in Asia Pacific significantly.

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The market in North America and Europe is growing at a significant rate and anticipated to witness favorable gains during the forecast period. The rising geriatric population in these regions is creating a heavy demand for medical products, including medical devices & equipment, dental products, and external products for general treatments and surgeries. Rapidly growing healthcare expenditure in the developing economies of Europe is another key factor driving the demand for medical adhesives. Moreover, rapid advancements in the medical & healthcare industry, innovation of new products, and development of sterilization–resistant and bio-compatible products are anticipated to drive the market growth in these regions.

Latin America and the Middle East & Africa are expected to witness substantial market growth during the forecast period. The growth is attributed to rising industrialization in these regions, which increases consumer expenditure, thereby driving the growth of the medical & healthcare industry. The availability of cheap labor, raw materials, and relatively favorable taxation regimes have prompted global market players to expand their manufacturing operations in these regions. Furthermore, the rising public expenditure for healthcare and medical aid and assistance by international institutions, such as the WHO for the betterment of the population in these regions are anticipated to impact the market growth positively.

List of Key Companies in Medical Adhesives Market

Joint Ventures and Capacity Expansion are Key Strategic Initiatives Implemented by Companies

Major players operating in the market are Glue Dots, 3M, MASTERBOND, Panacol-Elosol GmbH Dymax, Scapa, Permabond, and others. Many companies in the market are actively engaged in the development of new products. Prominent players in the market are mainly focusing on the expansion of their geographical footprint in different regions across the world. To expand their operation in different regions, they are acquiring small regional players specializing in manufacturing various kinds of medical adhesives for specialized applications.

LIST OF KEY COMPANIES PROFILED:

• Glue Dots (U.S.)


• 3M (U.S.)


• MASTERBOND (U.S.)


• Panacol-Elosol GmbH (Germany)


• Dymax (U.S.)


• Scapa (U.K.)


• Permabond (U.S.)


• Boyd (U.S.)


• G A Lindberg (Sweden)


• AVERY DENNISON CORPORATION (U.S.)


• Baxter International Inc. (U.S.)


• H.B. Fuller Company (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• November 2022 – Avery Dennison Corporation launched MED 5740, MED 5741, and MED 5742 at the Medica International Trade Fair at Messe Dusseldorf. The newly launched products are single coated adhesive materials providing adhesion for longer periods.


• July 2021 – Baxter International Inc., a leading medical products manufacturer, announced the acquisition of PerClot Polysaccharide Hemostatic System. This move is anticipated to expand the company’s advanced surgery portfolio.


• April 2019 – Baxter International Inc. received the U.S. Food and Drug Administration (FDA) certification for its hemostatic product, Floseal Hemostatic Matrix, at the 2019 Association of periOperative Registered Nurses (AORN) Global Surgical Conference and Expo.

REPORT COVERAGE

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The market report provides detailed market analysis and focuses on crucial aspects, such as leading companies, sources, applications, and products. Also, it offers insights into market trends, dynamics and highlights vital industry developments and market outlook. In addition to the factors mentioned above, the report encompasses various factors that have contributed to the growth of the market in recent years.

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Report Scope & Segmentation