Bioadhesive Market Overview
The global bioadhesives market is expected to rise at a CAGR of 6.9% over the forecast period from 2017 to 2023, according to a new research report from Market Research Future (MRFR). The global bioadhesives market is mainly driven by the growing demand for biocompatible adhesives in surgical applications. The global bioadhesives market is profiled in detail in the report, including a study of the market’s major drivers and restraints, key players operating in the market, and the major segments likely to dominate the market over the forecast period. Detailed projections regarding the market’s likely growth trajectory over the forecast period from 2017 to 2023 are given in the report to provide readers with an accurate picture of the market’s movement over the coming years.
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The global bioadhesives market is mainly driven by the growing demand for biocompatible adhesives in sutures and other tissue repair application. The demand for the use of bioadhesives in place of sutures has grown in the last few years due to benefits such as the elimination of the need for a second surgery for removal of the sutures and easier application. Thus, the demand to produce bioadhesives with high durability has grown at a rapid pace over the last few years. The ability of bioadhesives to naturally interact with biological materials and substances without causing harm is a major driver for the global bioadhesives market.
The growing demand for bioadhesives in drug delivery is also likely to be a major driver for the global bioadhesives market over the forecast period. The growing demand for oral administration of medicine is likely to be a major driver for the global bioadhesives market. Orally administered drugs, nasal drops, eye drops, ear drops, etc. all use bioadhesives to achieve a stronger formulation. This is likely to be a key driver for the global bioadhesives market over the forecast period as the demand for non-injected drugs is likely to grow due to the increasing aversion to the same among patients. The growing prevalence of eye disorders and infections is also likely to be a major driver for the global bioadhesives market, as eye drops are a key application segment for the bioadhesives market.
Bioadhesive Market Competitive Analysis:
Leading players in the global bioadhesive market include Bioadhesive Alliance Inc., Henkel Corporation, 3M Company, Yparex B.V., Adhbio, EcoSynthetix Inc., Adhesives Research, Ashland Inc., and Camurus.
Research operations to produce better formulations of bioadhesives are likely to be vital for the global bioadhesives market over the forecast period. In March 2019, researchers used bioadhesives to repair corneal injuries without the use of sutures. The method showed remarkable benefits over the conventional suture-based method.
Bioadhesive Market Segmentation:
The global bioadhesive market is segmented on the basis of material, application, type, end user, and region.
On the basis of material, the bioadhesive market is segmented into natural polymers and synthetic polymers. Synthetic polymers hold a dominant 65% share in the global bioadhesive market due to their greater ease of production.
On the basis of the application, the bioadhesive market is segmented into drug delivery, tissue repair, tissue substitute, packaging, personal care, and others.
On the basis of type, the market is segmented into plant-based and animal-based.
On the basis of end use, the bioadhesive market is segmented into hospitals, dental clinics, and others.
Bioadhesive Market Regional Analysis:
The global bioadhesives market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa on the basis of region.
Europe is likely to dominate the global bioadhesive market over the forecast period due to the growing demand for biobased medical implements and accessories in the region. The growing demand for convenience-based innovations such as suture-less surgeries in Europe is likely to drive the demand for bioadhesives in the region over the forecast period. The presence of many leading players in the region and the presence of strong research and development channels is also likely to be a key driver for the Europe bioadhesive market over the forecast period.
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