CHICAGO, Jan. 30, 2020 /PRNewswire/ -- According to the new market research report "Medical Adhesives Market by Natural Resin Type (Fibrin & Collagen), Synthetic & Semi-synthetic Resin (Acrylic, Silicone, Cyanoacrylate, PU, Epoxy), Technology, Application (Dental, Surgery, Medical Devices & Equipments), Region - Global Forecast to 2024", published by MarketsandMarkets, the global Medical Adhesives Market size is projected to grow from USD 7.6 billion in 2019 to USD 10.6 billion by 2024, at a CAGR of 6.8% during the forecast period. The impact of rising population, income levels, and health awareness on the medical adhesives market are expected to be high and positive in the next five years.
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Cyanoacrylate is projected to register the highest CAGR in the medical adhesives market during the forecast period.
The market for cyanoacrylate is projected to grow at the highest CAGR. Research has demonstrated the superior performance of cyanoacrylate-based adhesives with instant fixation to close a wound over sutures to achieve better cosmetic appearance. Ethicon, Inc. (Johnson & Johnson Services) (US), Henkel AG & CO. KGAA (Germany), B. Braun Melsungen AG (Germany), Adhezion Biomedical, LLC (US), CHEMENCE (US), Covidien (Medtronic) (Ireland), and others have introduced various new cyanoacrylate products in the past five years to meet the emerging demand from end users.
The dental segment is projected to account for the largest share of the medical adhesives market during the forecast period.
The dental application segment is estimated to account for the largest share of the overall medical adhesives market. These adhesives are used in various applications, namely, denture adhesives, pit & fissures, and restorative adhesives. The large market size in this segment is attributed to the increasing awareness of oral hygiene in emerging countries, increasing incidences of dental diseases, and growing demand for advanced cosmetic dental procedures.
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APAC is expected to register the highest CAGR during the forecast period.
The APAC medical adhesives market is segmented into China, Japan, India, South Korea, and the Rest of APAC. The medical adhesives market in APAC is projected to witness the highest CAGR in the next five years. The growth can be attributed to the increase in population and income levels. The high growth prospect in the medical care industry is likely to attract multinational companies to invest more in this region.
Major players operating in the Medical Adhesives Market include Ethicon, Inc. (Johnson & Johnson Services) (US), Henkel AG & CO. KGAA (Germany), 3M Company (US), Baxter International Inc. (US).
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