Technavio, a tech-focused market research firm, has published a new report on the global medical adhesives and sealants market, which is expected to grow at a CAGR of close to 9% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global medical adhesives and sealants market into the following key regions: APAC, Europe, North America, and ROW.
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Top three contributors for the global medical adhesives and sealants market are elaborated below
Global medical adhesives and sealants market in North America: North America is the major market for medical adhesives and sealants. High awareness of healthcare is the major driver of the medical adhesives and sealants market in North America. North American countries such as Mexico and Canada are expected to contribute to the growth of the market during the forecast period.
According to Ajay Adikari, a lead analyst at Technavio, specializing in research on additives, adhesives, and sealants, “The US is concentrating on expanding production capabilities to enable higher consumption of medical adhesives. Changing lifestyles, rising healthcare spending, and the growing number of serious risk factors to health is increasing the demand for medical adhesives and sealants in the region.”
Global medical adhesives and sealants market in Europe: An increase in healthcare spending in Europe is creating demand for medical adhesives in the region. The growing older population in the region is also fueling the growth of the medical adhesives and sealants market. The demand for medical adhesives for application in dental implants, cardiovascular, pulmonary, and abdominal surgeries, and tissue bonding is increasing in Europe.
Global medical adhesives and sealants market in APAC: China and India are expected to be the major demand drivers and the markets for medical adhesives and sealants during the forecast period. Several factors such as the shifting of manufacturing bases to APAC by the key vendors, the availability of cheap labor, and low manufacturing costs along with the growing demand for technology in healthcare from emerging countries are boosting the medical adhesives and sealants market in APAC.
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The top vendors operating in the global medical adhesives and sealants market are:
- 3M
- Ashland
- CryoLife
- H.B. Fuller
- Henkel
Other prominent vendors in the market include Advanced Medical Solutions, Adhesive Research, Baxter International, Dentsply Sirona, and Johnson & Johnson.
A more detailed analysis is available in the Technavio report titled, ‘Global Medical Adhesives and Sealants Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Electronic Adhesives Market 2017-2021
- Global Adhesive Tapes Market 2016-2020
- Global Medical Ceramics Market 2016-2020
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