Global Medical Adhesives And Sealants Market
The global medical adhesives and sealants market is estimated to account for US$ 19,232.3 Mn in terms of value by the end of 2027, basis states Coherent Market Insights analysis.
Global Medical Adhesives and Sealants Market: Drivers
Approval and launch of new sealants are expected to propel the growth of the global medical adhesives and sealants market over the forecast period. For instance, in January 2020, Polyganics received CE marking for LIQOSEAL, its easy-to-use and innovative dural sealant patch.
Global Medical Adhesives and Sealants Market: Opportunities
R&D in natural polymer-based adhesives is expected to offer lucrative opportunities for players in the global medical adhesives and sealants market. For instance, in May 2020, researchers from The University of Akron, U.S., reported advances in photoreactive tissue adhesives derived from natural polymers.
Global Medical Adhesives and Sealants Market: Restraints
Lack of proper reimbursement policies is expected to hinder the growth of the market. Various medical and dental treatments such as implants and periodontal surgeries still lack proper reimbursement in developed nations such as the U.S., France, Germany, the U.K., Spain, Italy, Japan and Australia.
The global medical adhesives and sealants market was valued at US$ 10,684.6 Mn in 2019 and is forecast to reach a value of US$ 19,232.3 Mn by 2027 at a CAGR of 7.3% between 2020 and 2027. Increasing approval and launch of new sealants is expected to propel the growth of the global medical adhesives and sealants market over the forecast period.
The internal segment held a dominant position in the global medical adhesives and sealants market in 2019, accounting for 52.3% share in terms of value, followed by dental and external, respectively. Increasing adoption of expansion strategies from major manufacturers to increase their product portfolio is expected to assist the growth of the segment during the forecast period.
Coherent Market Insights marked, major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in December 2019, Baxter International Inc. entered into a definitive agreement to acquire Seprafilm Adhesion Barrier and related assets from Sanofi.
Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in December 2019, Ethicon launched Vistaseal Fibrin Sealant to help surgeons manage bleeding during surgery.
Global Medical Adhesives and Sealants Market: Competitive Landscape
Major players operating in the global medical adhesives and sealants market include Advanced Medical Solutions Group plc., Grifols, Ethicon Inc. (Johnson and Johnson), B. Braun Melsungen AG, 3M Company, CryoLife, Inc., Cyberbond LLC, Baxter International Inc., Bostik Ltd., Henkel AG & Company, and Medtronic Plc.
Global Medical Adhesives and Sealants Market: Key Developments
December 2019: Advanced Medical Solutions Group plc., a provider of tissue adhesives, acquired Biomatlante SA, a developer and manufacturer of surgical biomaterial technologies.
January 2018: Gecko Biomedical received a funding of US$6 million under the Investments for the Future Program for R&D in the reconstruction of peripheral nerves using 3D-printed micro-conducts secured by one of the company’s exclusive adhesives.