The Medical adhesive market is projected to grow from USD 8.8 billion in 2021 to USD 12.3 billion by 2026, at a CAGR of 7.0% between 2021 and 2026. North America is estimated to be the largest consumer of Medical adhesives. The global Medical adhesives market is driven by the growing demand for cyanoacrylate-based tissue adhesives.
North America accounts for the largest share of the Medical adhesives market in the region. This growth indicates the prominence of the North American market. Several factors have contributed to the rise of North America as one of the leading regions for medical adhesives. These factors include the aging population, increased awareness about the benefits of non-invasive surgery procedures, and technological advancements in the healthcare industry that have led to the surge in the use of medical adhesives in the region, especially in the US and Canada. North America has also been witnessing a higher demand for implant procedures, such as prosthetic hips and knees, which has led to an increase in the manufacturing of these specialized products across the region.
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The key players operating in the market are Ethicon, Inc. (US), 3M (US), Henkel AG & CO KGAA (Germany), Baxter International (US), and B.Braun Melsungen AG (Germany). These players have adopted various strategies, such as mergers & acquisition, investment & expansion, and new product launch to grow in the market. Mergers & acquisitions is the key strategy adopted by the major players between 2020 and 2026. This strategy helped companies enhance their global presence.
Ethicon, Inc. (US) has achieved growth by overcoming changes in the times and business environment and became a worldwide leader of the cyano-acrylate-based medical adhesives market. The company has always made their innovation in the field of surgical technologies and solutions, including sutures, staplers, adhesives, energy devices, trocars, and hemostats along with the interventional ablation, robotics, and digital solutions. It is a dominant player in the sutures and staples market and has its operations in more than 60 countries. Its product portfolio includes surgical sutures, wound closure, and cardiovascular surgical products such as topical adhesives, surgical meshes, needles, and wound drains, among others. Its major product line for medical adhesives is marketed under the brand name ‘Dermabond.’
3M (US) has a broad spectrum of products, including adhesives, bonding materials, coatings, and specialty materials. Earlier it operated through five business segments—industrial, safety and graphics, electronics & energy, health care, and consumer but recently it has started serving in the following four segments: safety and industrial, transportation and electronics, health care and consumer. The company manufactures more than 60,000 products, which are used in different industries, institutes, and businesses with the help of workforce of approximately 95,000 people, with approximately 40,000 employees in the US and 55,000 employed internationally.
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