Medical Adhesives Market worth $10.6 billion by 2024 | Key Players include Ethicon, Inc., Henkel AG & CO. KGAA, 3M Company, Baxter International Inc.

According to recent market research "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", 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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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 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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The medical adhesives market is projected to grow from USD 7.6 billion in 2019 to USD 10.6 billion by 2024, at a CAGR of 6.8% between 2019 and 2024. The growth of the medical implantable devices market and the increasing use of single-use disposable medical products are expected to impact the demand for medical adhesives positively.

The key market players in the market are Ethicon, Inc. (Johnson & Johnson Services) (US), Henkel AG & CO. KGAA (Germany), 3M Company (US), and Baxter International Inc. (US). These players have adopted various strategies, such as investment & expansion, new product launch, merger & acquisition, and partnership & agreement, between 2015 and 2019 to enhance their market shares and expand their global presence.

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Ethicon, Inc. (Johnson & Johnson Services) (US) is a global surgical product company engaged in the manufacturing and development of products catering to areas of wound management, plastic surgery, bleeding management, hernia management, catheter infection control, and women's health. The company operates through three business units, namely, consumer, medical devices, and pharmaceutical. It conducts business in 52 countries; however, priority markets are the US, the UK, Brazil, China, France, Germany, India, and Switzerland, among others. The company manufactures medical adhesives under the medical devices segment and markets them under brand Dermabond and Vistaseal. Ethicon's strength is built on various factors, such as formulating technology, strategic raw material sourcing, and its global network of operations in over 50 countries. The company, in conjunction with its parent company, Johnson & Johnson, aims to increase its presence in emerging countries such as India, Brazil, and Indonesia. In December 2019, Ethicon launched a new sealant named VISTASEAL. This sealant can be used in hemostasis to manage bleeding during surgery. It is a first-of-a-kind fibrin sealant designed to be sprayed without gas in open as well as minimally invasive procedures. It comes in pre-filled syringes.

Henkel (Germany) is engaged in consumer and industrial businesses. The company operates through various segments, including adhesive technologies (adhesives, sealants, and surface treatments for consumer and industrial purposes); laundry & home care (household cleaning products, such as laundry detergent and dishwashing liquid), beauty care (beauty & oral care products, such as shampoos, toothpastes, hair colorants, and shower products), and corporate. The adhesive technologies segment of the company is a leader in the adhesives market across various end-use industries, globally. The company manufactures medical adhesives under this segment and markets them under brand Loctite. Henkel has operations in North America, Latin America, APAC, Europe, the Middle East, and Africa. The company focuses on R&D and investment to maintain its leading position in the adhesives business. In June 2019, Henkel introduced a new product named Loctite Liofol LA 2798. It can be used in various applications, including pet food, medical applications, and convenience products (fatty foodstuffs, oil fatty acids, and alcoholic contents).

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