The adoption of medical adhesives is increasing, owing to the surging health awareness and enhancing macroeconomic factors in developing countries, across the world. Over the years, the economic conditions of India, Brazil, and China have significantly improved, on account of the rising gross domestic product (GDP) of these countries. Economic betterment has fueled the demand for medicines, medical devices and equipment, personal protective equipment (PPE) kits, and pharmaceutical products in these nations. Producers of these medical products require adhesives to provide accurate structure and strength to these items.
Moreover, the outbreak of COVID-19 has amplified the need for medical products like PPE kits, masks, syringes, and blood and saline tubes, which require adhesives in large quantities. The increasing requirement for such products, on account of rising impact of this pandemic will fuel the market for medical adhesives at 2.3% CAGR during 2020–2030. The market was valued at $8,714.9 million in 2019 and it is projected to reach $16,367.2 million by 2030. To contain the spread of the virus, hospitals and outpatient facilities are using disposable medical products in abundant quantity.
Globally, the medical adhesives market will demonstrate lucrative growth in North America in the future, as per the estimates of the market research company, P&S Intelligence. This will be due to the rising demand for various medical devices, needles, equipment syringes, surgical sutures, thermometers, stretchers, first-aid kits, and personal protective equipment in the region. Moreover, with the boom in the population, the sales of these medical products are predicted to surge sharply in this region in the coming years.
Hence, it is safe to say that the demand for medical adhesives is predicted to shoot-up all over the world in the forthcoming years, mainly because of the rising requirement for various medical devices, on account of the increasing demand for surgeries and the rising incidence of hospital-acquired infections and chronic diseases across the world.
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