Medical Adhesives and Sealants Demand to Reach $10 Billion
Global demand for the medical adhesives and sealants market was valued at $6 billion in 2014.
Global demand for the medical adhesives and sealants market was valued at $6 billion in 2014, and is expected to reach $10.50 billion in 2020, growing at a compound annual growth rate (CAGR) of 8.5% between 2015 and 2020, according to a recent report from Market Research Store. The key driving factors are increasing dental treatments and increasing aging population. The characteristics of medical adhesives and sealants are one of the important factors driving the demand for the medical adhesives and sealants market. However, stringent regulations related with medical grade products may limit the growth of the market.
Acrylic adhesives and sealant accounted for more than 30% of the medicals adhesives and sealants market in 2014. The cyanoacrylate and polyethylene glycol adhesives and sealants are expected to be the fastest growing segments, due to the advancement in the formulations of adhesives. In 2014, the internal application segment accounted for approximately 50% of the market globally in 2014. It is expected to continue this trend and lift the CAGR by 8% for the forecast period. External application is also expected to have substantial growth due to the increasing penetration of consumer goods.
North America held over 40% of the global medical adhesives and sealants market in 2014. In terms of volume, Europe held the second largest share of the market in the same year. Asia-Pacific is expected to be the fastest growing regional market during the forecast period due to the emerging economies like China and India.
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