According to the latest report published by Credence Research, Inc. “Medical Adhesives and Sealants: Market Growth, Future Prospects and Competitive Analysis, 2016-2022,” the medical adhesives and sealants market was valued at USD 6,952.6 Mn in 2015, and is expected to reach USD 12,073.7 Mn by 2022, expanding at a CAGR of 8.1% from 2016 to 2022.
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Medical adhesives and sealants are chemical products used for binding components involved in medical procedures. Key driver of this market is growth in the number of dental procedures worldwide. Excellent bonding characteristics of medical adhesives has urged their demand in dental and orthopedic procedures. On the other hand, stringent regulatory compliance terms may hold the otherwise rapid growth of this market.
These products are available in synthetic and natural product variants, each of the both having further different product types. Among the sub-types of synthetic adhesives and sealants, a majority of market share is taken by acrylic adhesives and sealants. Segments such as polyethylene glycol will progress at the fastest growth rate during the forecast period. Product evolution and better bonding features in the products will define the overall market growth of these segments.
Based on applications such as dental, internal and external uses, the internal applications segment is estimated to be the largest segment with almost half of the market revenue coming from the same. This segment will also demonstrate an above average growth rate during the forecast period. Among the end-users, dental care segment will progress at the fastest growth rate through 2022. Phenomenal growth of the dental procedures market is the prime contributor for the corresponding progress of this segment.
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Based in geographical distribution, North America is the clear leader in the global medical adhesives and sealants market. The region is the largest consumer of adhesives and sealant products attributed by the usual high demand for technologically advanced products coupled with higher awareness between both patients and care-givers. Asia-Pacific and Latin America markets will undergo the fastest growth during the forecast period due to large scale medical tourism and rapid development of healthcare infrastructure in the regions.
This market is highly competitive and fragmented, with several consolidation activities being undertaken at present. Some of the notable players in the global medical adhesives and sealants market are 3M Company, Johnson & Johnson, Adhesive Research, Inc. Dentsply Limited and others.
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