Industry News

Global Medical Device Adhesive Market to Reach USD 3.20 Billion by 2021: MarketsandMarkets

Published on 2017-01-11. Author : SpecialChem

The report "Medical Device Adhesive Market by Resin Type (Light Curing, Cyanoacrylates, Acrylic, Epoxy, Silicone, & Polyurethane), Application (Needles, Catheters, Tube Sets, Masks, Polycarbonate Devices, Pacemaker) - Global Forecast to 2021", The global medical device adhesive market is estimated to be USD 2.32 Billion in 2016, and is projected to reach USD 3.20 Billion by 2021, at a CAGR of 6.6% from 2016 to 2021.

Growth in Healthcare Devices Drive Demand

The growth of sophisticated healthcare devices in the medical industry is driving the demand for medical device adhesive across applications, such as needles & syringes, catheters, tube sets, masks, polycarbonate devices, and pacemaker & other equipment. The medical device adhesive market in North America and Europe experiencing an upward trend due to increase in exports of medical devices and increasing demand for innovative medical devices were the key factors fueling the growth of medical device adhesive in these two regions.

Needles & syringes - fastest-growing application segment

Global Medical Device Adhesive Market to Reach $3.20 Bn: M&M
Needles & syringes is the most widely used medical disposables across the globe. Special purpose syringes and needles are used for different purposes such as lancets, hypodermics, injectors, and blood collection sets. There is an increase in the usage of disposable syringes in place of glass syringes, due to the availability of ready to use and cost effective sterilized needles and syringes. Moreover, for the prevention of AIDS and other transmitted diseases, the usage of disposable syringes has increased. These factors are driving the growth for adhesives in needles & syringes.

Light curing - largest resin type segment

Light curable adhesives offers fast curing time to speed up the production. It cures via a free radical reaction to form thermoset resins when exposed to light of the appropriate wavelength and intensity. North America is a matured market as compared to other regions and also there is presence of R&D centers of the largest companies operating in the medical device adhesive market resulting into rapid penetration of new technology such as light curing adhesives.

The light curing acrylics offer the most extensive variety of properties of all light cure chemistries. Light curing acrylics are used to assemble syringes, injectors, infusion sets, pressure transducers, drug delivery devices, IV sets, oxygenators, cardiotomy reservoirs, blood heat exchangers, hearing aids, anesthesia masks, and blood filters.

North America is the largest market, both in terms of volume and value. Due to the presence of major medical device manufacturers in the region, the demand for adhesives is expected to grow at a high rate. Followed by North America, major medical device manufacturers are also established in the European region. Due to the increasing health awareness and the use of sophisticated devices in the region, the demand for medical device adhesive is expected to grow at the highest CAGR in the next five years.

Key market players

The key players operating in this market are Henkel AG & company (Germany), Dymax Corporation (U.S.), Honle Group (Germany), H.B. Fuller (U.S.), and Masterbond Inc. (U.S.). Other players competing these players are Permabond Engineering Adhesives Ltd. (U.K.), Epoxy Technology Inc. (U.S.), Novachem Corporation Ltd (Ireland), Incure Inc. (U.S.), and Adhesive Research (Ireland).

About MarketsandMarkets

MarketsandMarkets is amongst the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. M&M specializes in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Its 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in its reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

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Source: MarketsandMarkets
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