As the prevalence of chronic diseases is growing, the number of surgeries that are being performed is increasing as well. The treatment and management of various chronic diseases needs medical intervention or long-term chronic care therapy. Surgeries are performed by making incisions on the body, which are closed after the procedure by making use of different types of medical adhesives. Moreover, the focus on preventing infections and other safety measures in outpatient facilities, hospitals, and other healthcare settings is growing, which is further leading to the growth of medical adhesives market.
As per a P&S Intelligence report, the global medical adhesives market is predicted to reach a value of $16,367.2 million by 2030, growing from $8,714.9 million in 2019, progressing at a 2.3% CAGR during the forecast period (2020–2030). Medical adhesives are made up of different resin types, including natural, acrylic, polyurethane, cyanoacrylate, epoxy, rubber, and silicone. Out of these, the demand for natural adhesives was the highest in the past, and the high demand for these adhesives is further predicted to drive the medical adhesives market. Natural adhesives are used in all surgical procedures for sealing and binding tissues and for achieving hemostasis.
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In addition to this, these adhesives are also utilized for stopping bleeding during surgical procedures, as they aid the surgeons to achieve hemostasis more efficiently and faster. Natural adhesives have a number of applications, such as circumcision, orthopedic operations, dental extraction and oral surgery, and traumatology. Medical adhesives can be solvent-based, water-based, and hot melt & other solids. Among all these, the demand for water-based medical adhesives is projected to rowing considerably in the coming years, thereby driving the medical adhesives market. This is primarily due to the beneficial properties of these adhesives, including provision of good breathability, quick-tackiness, and good anchorage to cloth face stocks.
In the past, North America has been the largest medical adhesives market, which can be primarily attributed to the high purchasing power and innovative opportunities in the healthcare industry in the region. In addition, increasing government initiatives regarding insured or free healthcare policies in North America is also driving the demand for medical adhesives. Other than this, the Asia-Pacific region is projected to emerge as the fastest-growing medical adhesives market in the years to come, owing to the high patient pool, increasing expenditure in the healthcare industry, and government initiatives in the region.
In conclusion, the growing volume of surgical procedures is leading to the rising requirement for medical adhesives.
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