“The medical device adhesive market is projected to grow at a CAGR of 6.6% from 2016 to 2021”
The global medical device adhesive market is estimated to reach USD 3.20 billion by 2021, at a CAGR of 6.6% from 2016 to 2021. The market growth of medical device adhesive is attributed to the increasing awareness of new devices for specific treatment followed by the increase in global population and rise in income level, are leading the hospitals and other private health institutions towards sophisticated healthcare facilities and medical device. Moreover, the expansion activities of medical device manufacturers is also creating demand for medical device adhesive manufacturers. The restraining factors that still hampers the medical device adhesive market is the reimbursement approval process in European countries which is often considered more complex than that in the U.S. due to its increasing focus on evidence-based reimbursement decisions and cost-containment policies.
“The light curing segment is projected to grow at the highest CAGR among all the types”
Light curing adhesives used in medical devices is the largest among other resin chemistry, and due to its better curing and adhesive properties in specific applications it is becoming a preferred choice across end users.
Common applications of light curable adhesives are in the production of medical equipment and items such as syringes, catheters & blood filter tubes, hearing aids, medical oxigenarators, and reservoirs.
“Focus shifting from diagnosis to prevention in North America and Europe healthcare industry“
The medical device industry in developed nations of North America and Europe are moving from diagnosis to prevention. The growth of the medical device adhesives market in North America and Europe can also be attributed to the increased aging population and the changing lifestyle and increased chronic diseases demand for medical devices has increased and this has resulted into rapid growth of medical device adhesives in North America and Europe region. Hence, the medical device adhesive market in North America market continues to account the largest share, whereas Europe expected to grow at the highest rate in the next five years.
Breakup of primary interviews:
• By Company Type - Tier 1 – 56%, Tier 2 – 33%, and Others – 11%
• By Designation - C level – 18%, D level – 33%, and Others – 59%
• By Region - North America – 36%, Europe – 38%, Asia-Pacific – 8%, South America-8% and Middle East & Africa-10%
The key companies profiled in this report are Henkel AG & company (Germany), Dymax Corporation (U.S.), Honle Group (Germany), H.B. Fuller (U.S.), and Masterbond Inc. (U.S.). Other players competing these players are Permabond Engineering Adhesives Ltd. (U.K.), Epoxy Technology Inc. (U.S.), Novachem Corporation Ltd (Ireland), Incure Inc. (U.S.), and Adhesive Research (Ireland).
This report covers detailed segmentation of the global medical device adhesive market based on resin type, application, and region. On the basis of resin type, the market is segmented into light curing, cyanoacrylates, acrylic, epoxy, silicone, and polyurethane. Based on application, the market is segmented into needles & syringes, catheters, tube sets, masks, polycarbonate devices, and pacemaker & other equipment. On the basis of region, the market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Reasons to buy the report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top medical device players, value chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape; emerging and high-growth segments of the global medical device adhesive market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on medical device adhesive offered by the top players in the global medical device adhesive market
Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the global medical device adhesive market
Market Development: Comprehensive information about lucrative emerging markets – the report analyzes the markets for medical device adhesive across regions
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global medical device adhesive market
Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global medical device adhesive market