Global Market Value of Medical Adhesives is Estimated to be $6,318.92 Million in 2014

Date: 2015-08-19

“The report covers the global medical adhesives market and further segments the market on the basis of resin type, formulating technology, application, and region. The market data for these types is given with respect to volume (kilotons) and value ($million). The global market value of medical adhesives is estimated to be $6,318.92 million in 2014 and is projected to grow at a CAGR of about 9.43% between 2014 and 2019. The data mentioned in the report are based on the global demand for medical adhesives.

The global market for medical adhesives has been analyzed based on the Porter’s five forces model. This gives an idea about the current proceedings in the industry at commercial level. The study provides the value chain analysis with respect to the technology providers, resin producers, medical adhesive manufacturers, and end-user industries. The value chain describes the key contributors to the medical adhesives market at different stages from product development to end use. It represents the top players which are contributing to the global medical adhesives industry.

The impact of different market factors, such as drivers, restraints, and opportunities is also illustrated in the report. This gives an idea about the key drivers such as government regulatory support, public awareness, application growth for medical adhesives in Asia-Pacific especially in China and India where there is robust growth in the assembly of medical devices industry. The economic slowdown in Europe and U.S. also affected the economy of other developed countries and the price volatility of the resins in the past made the market more strained for medical adhesions.

The global medical adhesives market is also classified based on different applications. The important applications include dental, medical devices & equipments, internal medical applications, external medical applications, and others. All end use medical applications for medical adhesives except dental are expected to show high growth in the future due to the aging population and advances in medical technology. 

The key companies in this market are Bostik Ltd. (France), Henkel AG & Company (Germany), B. Braun Melsungen AG (Germany), 3M Company (U.S.), CryoLife, Inc. (U.S.), Chemence Ltd. (U.K.), Cyberbond LLC (U.S.), Itac Ltd. (U.S.), Ethicon Inc. (U.S.), Covidien Ltd. (Ireland), GluStitch Inc. (Canada), Adhezion Biomedical (U.S.), Cohera Medical, Inc. (U.S.),  Baxter International Inc. (U.S.), Gem S.r.l (Italy), Meyer-Haake Gmbh (Germany), and Biocoral, Inc. (France). These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serving the customers more effectively. New product launches were the most preferred strategies by the top players in 2013 that were driving the demand of medical adhesives. Their strategy to capture the untapped market in developing economies includes agreements, collaborations, and joint ventures. 

Growth in the Asia Pacific region is expected to outpace that of both the US and Europe. Asia Pacific growth is forecast to be about 10.97% during the period as more manufacturing is shifted to that region, although much of the finished product will be manufactured for US and European healthcare markets.

The report also presents a competitive landscape covering different strategies and developments such as mergers & acquisitions, investments and expansions, new product launches, agreements and collaborations undertaken by the leading medical adhesives companies in the past few years. Furthermore, different medical adhesives market participants are also profiled in the report.

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