Medical Adhesives Market Share, Size, Expected Growth Opportunities and Forecast by 2029 | Is Medical Adhesives Industry Hit Worst due to Russia-Ukraine War Impact?
The global medical adhesives market is set to gain impetus from their possession of several beneficial properties. They are non-cytotoxic, non-sensitizing, non-irritating, and biocompatible. Hence, they are mainly utilized in medical devices. Numerous medical adhesives, namely, tools, tapes, and dressings help in covering and protecting wounds, as well as in sealing the edge of the skin. They can also support the injured body part with ease. This information is given by Fortune Business Insights™ in an upcoming report, titled, “Medical Adhesives Market Size, Share & Industry Analysis, By Type (Pressure sensitive adhesives, Dissolvable adhesives, Electrical conductive adhesives), By Resin (Natural adhesives, Synthetic adhesives), By Application (Needles & syringes, Catheters, Tubes & connectors, Reservoirs & enclosures, Blood filtration) Others and Regional Forecast, 2022-2029.”
The world is currently battling the outbreak of the COVID-19 pandemic. To prevent the rapid spread of this deadly virus, the governments of many countries have implemented lockdown and work-from-home measures. These steps are severely affecting the business confidence, supply chain, and manufacturing processes by bringing them down to a complete halt. But, our specially curated reports will help you in finding the right path to success by adopting the perfect strategy.
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Russia-Ukraine War Implication
The Russia-Ukraine war could change the Medical Adhesives Market dynamics of Europe forever. The standoff has revived the predicament situation of the Cold War and pushed Europe to the brink of a major military conflict. The Russian aggression in Ukraine has redefined the global landscape in terms of business. As the global Medical Adhesives Market was recuperating from the havoc wreaked by the COVID-19 pandemic, the Russia-Ukraine war has made several industry stakeholders skeptical.
The European Union is pushing for more sanctions against Russia, including halting imports of nuclear fuel from Russia and excluding Russia’s top lenders from the SWIFT banking system. Moreover, Russia has also imposed similar sanctions on most EU countries. The war crisis and sanctions have put a strain on global investment, trade, and economic activity. Therefore, skepticism and uncertainty remain prevalent regarding the conflict, its potential reach, and its longevity. Accordingly, the restoration of normal relations among partners could prove be a sign of improvement.
Highlights of This Report:
- The present competitive landscape including investments, new product launches, mergers & acquisitions, agreements, and others.
- The growth prospects of the market.
- Detailed information about the latest technologies that can be adopted in the coming years.
- Extensive analysis of the dominating region present in the market.
Drivers & Restraints-
Increasing Cases of Complex Surgeries to Boost Growth
Medical adhesives are experiencing high demand across the globe because of the increasing prevalence of various diseases. Also, multiple complex surgeries are taking place owing to the rising cases of accidents. In such situations, medical adhesives prove to be very helpful in avoiding the spread of infections and closing wounds. They are also considered to be the most crucial components required in the manufacturing of medical devices. These factors are set to drive the medical adhesives market growth in the coming years. However, medical devices are becoming more critical nowadays. This would, thereby decline the usage of medical adhesives and hamper growth.
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Asia Pacific to Dominate Fueled by Higher Demand for Better Medical Facilities
In terms of region, Asia Pacific is expected to generate the highest medical adhesives market share and dominate throughout the forthcoming years. This growth is attributable to the rising population and the urgent demand for better medical facilities in this region. China is considered to be the largest consumer of these adhesives as it is densely populated. North America, on the other hand, is anticipated to showcase significant growth fueled by the presence of several well-established organizations. They are persistently investing hefty amounts of money in the development and innovation of medical devices. In Europe, the market would grow steadily owing to the rising incidence of chronic diseases. It is set to occur because of the increasing geriatric population present in this region. On account of the presence of less number of key companies, the Middle East and Africa, as well as Latin America are projected to exhibit slow growth.
Key Players Aim to Strengthen Their Positions through Acquisitions
The market is highly fragmented with the presence of numerous small, medium, and large companies. They are operating from around the world to surge sales. To do so, they are frequently following the strategy of mergers and acquisitions. This way, they are able to bring in the expertise of the other companies to enhance their positions in the market. Below are a couple of the latest industry developments:
- January 2019: Advanced Medical Solutions Group, a renowned producer of wound care and surgical products headquartered in the U.K., announced its successful acquisition of Sealantis. The latter is a start-up developing medical adhesives based in Israel. This new deal would help the former in strengthening its position in the market.
- November 2018: Arkema S.A., an advanced materials and a speciality chemicals company based in France, acquired Afinitica, a provider of instant adhesives. It would help Arkema in enhancing its position in the medical adhesive and electronics markets.
Fortune Business Insights™ provides a list of all the medical adhesives manufacturers operating in the global market. They are as follows:
- B. Fuller Company
- Johnson & Johnson
- Henkel AG
- Chemence Medical, Inc.
- Avery Dennison Corporation
- Dow, Inc.
- Cohera Medical, Inc.
- GluStitch Inc.
- Other prominent companies
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