The Adhesives for Medical Device Assembly Market is estimated to reach $1.91 billion by 2025.
According to a new market research report titled, “Global Adhesives for Medical Device Assembly Market: (2019-2025)”, the medical device adhesives market is being driven by increases in the aged population, health expenditure and increasing use of adhesives in the rapidly advancing medical industry.
Americas region holds a significant share in this market
The Americas region is the largest market for adhesives for medical device assembly, and together held a market share of 49% in 2018, whose value is estimated to grow to $891.8 million by 2025. This can be attributed to an increase in the adoption of adhesives in medical and healthcare industries coupled with the development of high adhesion materials. Firms in the medical devices sector are continuously manufacturing products for surgery, diagnostics, and laboratories, thus propelling growth of the adhesives for medical device assembly market.
Selected / Sample Analysis done in the Report:
In the medical industry, adhesives are used for many purposes and especially for assembling medical devices. Applications of the adhesives for medical device assembly market include catheter assembly, endoscopes, hearing aids, ostomy appliances, hypodermic supplies, ophthalmic instruments, orthopedic and prosthetic devices, reservoir and housing assemblies, respiratory products, surgical instruments, collection bags, stopcocks, sutures, transducers, tubing assemblies, PVC and polyethylene components, coatings and others. However, orthopedic and prosthetic devices held the largest market share of 10% in 2018. Orthopedic devices are designed to prevent or manage musculoskeletal problems and prosthetic devices are the artificial substitutes needed to replace a body part or function. To assemble these devices, adhesives are used. Instant adhesives and epoxies help in the rapid fixing and curing of devices and reduce the risk of assemblies. Orthopedic devices are made of a material such as polymers, elastomers, metals, and fabrics. Adhesives can aid in bonding these components to manufacture the final product.
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Excerpts on Market Growth Factors
· The expanding medical industry in the Asia Pacific region, especially in the fast-developing countries such as China and India is giving a push to this market.
· Development of higher solid epoxy adhesives and utilization of raw materials extracted from natural resources that solve the hazardous effects associated with voltaic organic compounds are set to drive the market.
· In countries like the U.K. and Germany, increased regulations with respect to adhesives used in medical devices have hiked the demand for water-based silicone adhesives usage.
· The exploration of new formulations, coupled with advancements in structural adhesive technologies, are projected to support the growth of adhesives for medical devices assembly across the globe.
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Key players of the Adhesives for Medical Device Assembly Market
Henkel AG & Company, KGaA, 3M Company, H.B.Fuller Company, DOW Corporation, Elkem AS are the major adhesive makers for medical devices assembly. Among these, Henkel AG &Co. KGaA is a major adhesive producer for medical devices which holds a significant standalone market share of 20%.
A. Packaging Adhesives Market
B. Laminating Adhesives Market
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