GLOBAL MEDICAL ADHESIVE AND SEALANTS MARKET EXPECTED TO REACH $17.4 BILLION IN 2027


GLOBAL MEDICAL ADHESIVE AND SEALANTS MARKET EXPECTED TO REACH $17.4 BILLION IN 2027

 "Medical Adhesives and Sealants Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Application and Geography." The global medical adhesive and sealants market is expected to reach $17,468.1 million in 2027 from $9,867.9 million in 2019. The market is estimated to grow with a CAGR of 7.5 percent from 2020-2027. A growing number of medical implantation/transplantation procedures being carried out in the world and rising adoption of minimally invasive procedures are the major factors driving the growth of the medical adhesive and sealants market. However, complication related medical adhesives and sealants are hindering the growth of the market growth. The minimally invasive procedures are among the preferred ones that are being adopted over the traditional open procedures such as endoscopic surgeries and diagnostic procedures, and robotic-assisted surgeries. The endoscopic surgical processes are widely used in the procedures related to heart, lungs and stomach cancer; and kidney stones. The wounds are sealed post-procedure with surgical sutures, surgical staplers, sealants or relevant adhesive tapes. However, due to technological advancements in wound closure methods, medical adhesives and sealants are among the preferred products. For instance, an inguinal hernia is among the most common disorders observed among men and women, with surgery being the only possible treatment. The primary type of repair procedures are open surgery and laparoscopy. According to OECD, there have been ~106,682 laparoscopic repairs of inguinal hernia in Germany in 2017. The medical adhesives and sealants are preferred for surgical sutures during laparoscopic repair, as there is a minimal incision to the site of the procedure, thereby leading to the growth of the medical adhesives and sealants market. The global medical adhesive and sealants market is segmented on the basis of product type and application. Based on product, the market is segmented into synthetic and natural. The market for the synthetic segment is further segmented into acrylic, silicone, cyanoacrylate, polyethylene glycol and others. Moreover, the market for the natural segment is sub-segmented into collagen, fibrin, albumin and others. The synthetic segment held a larger share of the market in 2019, and it is also is estimated to register a higher CAGR during the forecast period. Based on application, the medical adhesive and sealants market has been segmented into dental, internal and external.

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