Growing Demand's of Adhesives in the Medical Device Industry - Medical Adhesives Market

Adhesives used for medical applications is one of the exciting segments in the specialty chemicals industry. Adhesives are critical components in the design and manufacture of the majority of medical devices. As medical devices become smaller and more complex, greater demands are being made on the materials and components used in them. As the adhesives industry used responds to the challenges of this market, new advances are widening the performance envelope for medical adhesives. Variations in polymer compositions, coupled with compounding differences, are allowing properties to be tailored to meet specific application requirements, including biostability, sterilization effects, and mechanical properties. Perhaps even more exiting are estimates that only about one-half of the applications that could be served by adhesives are actually using adhesives in assembly, leaving significant growth opportunity. By all measures, growth potential is very attractive and this market segment generates a lot of interest among adhesive suppliers.

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North America is the largest market, both in terms of volume and value, followed by Europe. China, U.S., Japan, India, and Germany are expected to persist as successful medical adhesives markets. 

The key players in the medical adhesives 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) , and others.

The medical adhesives demand, in terms of value and volume, depicts the current and future projections according to the parallel economic and industrial outlook. This analysis covers important developments, investments & expansions, partnerships & agreements, and mergers & acquisitions of the leading global companies.

The global Medical Adhesives Market was estimated to be about $5,832.77 million in 2013 and is projected to reach $10,015.67 million by 2019, growing at a CAGR of 9.65% between 2014 and 2019. Cost cutting in the healthcare industry is a reality and likely here to stay. Hospitals and other large healthcare providers have formed very successful buying groups who are pressuring suppliers for lower prices and additional services, which, in turn, creates cost pressures on all suppliers throughout the value chain. In some instances, high-end devices that were manufactured for single use are being cleaned via sophisticated on-site processes to stretch the healthcare dollar even further. There has also been significant consolidation via merger and acquisition of participants at all levels of the value chain. In recent years, large distributors have emerged and everyone is aware of the consolidation of hospital and other large healthcare providers. As a result, the industry screams for lower total costs, and adhesives offer the potential for ever-increasing production speeds.

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