The global medical adhesive and sealants market is expected to reach US$ 17,468.1 million in 2027 from US$ 9,867.9 million in 2019. The market is estimated to grow with a CAGR of 7.5% from 2020-2027.
Growing number of medical implantation/transplantation procedures being carried out in the world and rising adoption of minimally invasive procedures are the major factors driving the growth of the medical adhesive and sealants market. However, complication related medical adhesives and sealants are hindering the growth of the market growth.
The minimally invasive procedures are among the preferred ones that are being adopted over the traditional open procedures such as endoscopic surgeries and diagnostic procedures, and robotic-assisted surgeries. The endoscopic surgical processes are widely used in the procedures related to heart, lungs, and stomach cancer; and kidney stone. The wounds are sealed post-procedure with surgical sutures, surgical staplers, sealants, or relevant adhesive tapes. However, due to technological advancements in wound closure methods, medical adhesives and sealants are among the preferred products. For instance, an inguinal hernia is among the most common disorders observed among men and women, with surgery being the only possible treatment. The primary type of repair procedures is open surgery and laparoscopy. According to OECD, there have been ~106,682 laparoscopic repairs of inguinal hernia in Germany in 2017. The medical adhesives and sealants are preferred for surgical sutures during laparoscopic repair as there is a minimal incision to the site of the procedure, thereby leading to the growth of the medical adhesives and sealants market.
The global medical adhesive and sealants market is segmented on the basis of product type and application. Based on product, the market is segmented into synthetic and natural. The market for the synthetic segment is further segmented acrylic, silicone, cyanoacrylate, polyethylene glycol, and others. Moreover, the market for the natural segment is subsegmented into collagen, fibrin, albumin, and others. The synthetic segment held a larger share of the market in 2019, and it is also is estimated to register a higher CAGR during the forecast period. Based on application, the medical adhesive and sealants market has been segmented into dental, internal, and external. The dental segment held the largest share of the market in 2019, and the internal segment is estimated to register the highest CAGR in during the forecast period.
Australian Research Council, World Health Organization (WHO), Centers For Disease Control and Prevention, European Medical Association, International Trade Administration, and Council for Scientific and Industrial Research are a few of the essential secondary sources referred to while preparing this report.