Global Medical Adhesives & Sealants Market to Surpass USD 17.46 Billion By 2027

June 17, 2020

According to the research report titled ‘Medical Adhesives and Sealants Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Application, available with Market Study Report LLC, global medical adhesives & sealants market generated revenues worth  USD 9,867.9 million in the year 2019 and is expected to register a growth rate of 7.5% during the forecast period. The market is expected to amass USD 17,468.1 million by the year 2027.

Increasing number of surgical transplantation & implantation procedures is a major factor driving the growth of medical adhesives and sealants industry. Shifting preference towards minimally invasive procedures such as robot-assisted surgeries and endoscopic surgeries & diagnosis are further fueling the market expansion.

Endoscopic surgical processes are extensively adopted for treating various conditions such as kidney stone as well as stomach, lungs and heart cancers. The wounds developed during these procedures are sealed using relevant adhesive tapes, sealants, surgical staplers and surgical sutures. Advancements in wound closure methods are creating significant growth opportunities for medical adhesives and sealants market.

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Furthermore, medical adhesives & sealants are widely used as surgical sutures in laparoscopic repairs, since there is a minimal incision in the area of the treatment. Increasing pervasiveness of inguinal hernia is stimulating the industry outlook. In fact, OECD states that Germany recorded around 106,682 cases of laparoscopic repairs for inguinal hernia in the year 2017. However, complexities associated with medical adhesives & sealants may act as a restraining factor to the overall market growth.

Based on product landscape, medical adhesives & sealants market is split into natural and synthetic. The natural segment is further fragmented into albumin, fibrin, collagen and others. On the other hand, synthetic adhesives & sealants market segment, which comprises of polyethylene glycol, cyanoacrylate, silicone, acrylic and others, is predicted to expand significant substantially during the forecast period.

Elaborating on the application spectrum, the industry is bifurcated into external, internal and dental. The lattermost segment accounted for a substantial market share in 2019. Meanwhile, internal application segment is estimated to generate lucrative revenues in the forthcoming years.

B. Braun Melsungen AG, Dymax Corp., Mactac, Puritan Medical Products, Johnson & Johnson Services Inc., Dentsply Sirona, Henkel AG & Co., KGaA, GlaxoSmithKline Plc. and 3M Co. are the major participants in global medical adhesives and sealants industry.

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