The Competitive Landscape of Medical Device Adhesive Market Segments: Size, Share, and Growth Forecast
The Competitive Landscape of Medical Device Adhesive Market Segments: Size, Share, and Growth Forecast
Blog Article
The medical device adhesive market has experienced significant growth in recent years, driven by technological advancements and an increasing demand for minimally invasive procedures. These adhesives are crucial in medical applications, such as wound closure, surgical bonding, and securing medical devices like catheters and pacemakers. The market's expansion is also influenced by the rising prevalence of chronic diseases and an aging global population, leading to a higher demand for medical interventions that utilize these adhesives.
Market Growth and Projections
Recent analyses project the global medical adhesives market to grow from USD 12.04 billion in 2024 to approximately USD 19.43 billion by 2034, reflecting a compound annual growth rate (CAGR) of 4.90% during this period. Similarly, another report anticipates the market reaching USD 20.9 billion by 2032, with a CAGR of 7.3% from 2023 to 2032. This growth is attributed to the increasing adoption of advanced adhesives in medical applications and a focus on developing eco-friendly and biocompatible solutions.
Technological Innovations
The demand for cutting-edge medical adhesives has surged, particularly for applications in wearable medical devices and advanced wound care. Innovations such as soft-skin adhesives in tape, liquid, and patch forms are being developed to meet consumer needs, offering convenience and effectiveness beyond traditional adhesives. Advances in material science are enabling manufacturers to create efficient and cost-effective solutions, enhancing patient comfort and safety.
Regulatory Developments
Regulatory bodies play a pivotal role in shaping the USA medical adhesives market. In March 2025, the U.S. Federal Trade Commission (FTC) filed a lawsuit to block the acquisition of Surmodics, a medical device coatings manufacturer, by private equity firm GTCR. The FTC argued that the merger would give the combined entity over 50% of the hydrophilic coatings market, potentially reducing competition and increasing healthcare costs. This action underscores the importance of maintaining competition to foster innovation and keep prices in check within the healthcare sector.
Strategic Corporate Changes
Companies in the medical adhesives sector are continually reassessing their strategies to focus on core competencies and growth areas. In October 2024, Evonik, a German specialty chemicals company, announced plans to scale back its adhesives and healthcare units. The restructuring aims to shed operations like the polyester business and production lines for certain chemicals, affecting approximately 260 employees. Evonik intends to concentrate on lipids for mRNA and gene therapies, drug delivery systems, and cell culture ingredients within healthcare, while focusing its adhesives business on liquid polybutadienes and specialty acrylics. This strategic shift highlights the dynamic nature of the industry and the need for companies to adapt to evolving market demands and technological advancements.
Recent Recognitions
Innovative products in the medical adhesives field have also gained recognition in broader consumer markets. The Allure Best of Beauty Breakthrough Awards for 2024 highlighted several products addressing practical beauty needs, including adhesive-based solutions. Notably, the Sylke Adhesive Wound Closure, a silk-based surgical dressing, was recognized for reducing healing time and providing patient comfort. Such accolades emphasize the crossover potential of medical adhesives into consumer products, reflecting their versatility and importance.
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