Asia-Pacific Leads Medical Adhesives Market Growth
The region is projected to register a CAGR of 9.9% over the forecast year.
The global medical adhesives market was valued at $7.59 billion in 2016 and is expected to progress at a compound annual growth rate (CAGR) of 9.5% from 2017 to 2025, according to a recent report from ResearchandMarkets. The growing use of medical adhesives in dental and medical device and equipment segment is anticipated to strengthen the market growth.
Medical adhesive applications have witnessed significant growth in the past few years; the growth is anticipated to trigger in the forthcoming years. Adhesives are likely to register growth in disposable medical devices market due to improved processing procedures and technology IES. Dental appliances and curing equipment play a significant role in the design and manufacturing of the medical equipment. The rising population and improvements in medical practices are expected to continue to fuel the growth of medical adhesives including catheters, implants, and drug-delivery systems.
The growth in Asia-Pacific is likely to outpace the growth in the U.S. and Europe. The region is projected to register a CAGR of 9.9% over the forecast year, as a large number of manufacturing companies have shifted to this region. Dental adhesives, used for medicinal and dental apparatus fabrication, accounted for approximately $2.241.97 billion in 2016.
Among dental applications, medical device and equipment, dental, internal and external medical applications accounted for over 85% demand in 2016. The rapid growth is foreseen for dental end-use applications, with fast growth estimated in smaller segments such as tissue bonding applications that are correlated with periodontal care. Cyanoacrylate-based medical adhesive is likely to penetrate both internal and external medicinal uses based on the commercialization of innovative grades with improved flexibility and biocompatibility.
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