MEDICAL ADHESIVES AND SEALANTS MARKET ANALYSIS

Medical adhesives and sealants are used to prevent blood loss during surgical procedures such as organ implant, cardiovascular surgeries, and orthopedic surgeries. The medical adhesives and sealants provide natural wound healing and prevent air or liquid leakages during and after surgeries are performed. For instance, organ transplant involves large incision on the human body. Post surgeries wounds are sealed with the help of surgical sutures and staples, the wound needs to be healed as soon as possible to avoid post-surgery complications such as bleeding, wound infection, and others, in that case the medical adhesives and sealant can aid in preventing such complications.

Medical adhesives and sealants are available in both synthetic and natural forms. Synthetic includes acrylic, cyanoacrylate, silicon, polyethylene glycol (PEG), and others, and natural includes collagen, fibrin, albumin, and others.

The global medical adhesives and sealants market is estimated to be valued at US$ 11,982.3 million in 2021 and expected to exhibit a CAGR of 7.3 % over the forecast period (2021- 2028).

Figure 1. Global Medical Adhesives and Sealants Market Share (US$ Mn ), By Region, 2021

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The increasing organ transplant is expected to drive the growth of the global medical adhesives and sealants market over the forecast period.

For instance, as per the Health Resources and Services Administration, a division of the U.S. government, about 39,718 organ transplant procedures were performed in 2019 in the U.S.

Figure 2. Global Medical Adhesives and Sealants Market Value (%), By Product Type, 2021

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The increasing research and development activities for the better healing of wounds/incisions is expected to drive the market growth over the forecast period.

For instance, in May 2021, Polyganics, a medical technology company, is developing an innovative dura sealant patch, LIQOSEAL,  a synthetic dura sealant patch indicated for use as an adjunct to standard method of cranial dural repair, to provide water tight closure of the dura matter and reduce cerebrospinal fluid (CSF) leakage.

The increasing product launches and approvals are expected to drive the market growth over the forecast period.

For instance, in April 2021, Chemence Medical, a world leader in medical cyanoacrylate devices and products, announced that the company had received the U.S. FDA 510(k) approval for its redesigned exofin fusion skin closure system. Exofin fusion combines a self-adhering flexible mesh strip and fast curing 2-octyl cyanoacrylate topical adhesive to close and seal incisions while forming an immediate barrier to protect against infections.

Global Medical Adhesives and Sealant Market – Impact of Coronavirus (Covid-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 281,808,270 cases and 5,411,759 deaths due to coronavirus disease (COVID-19) were reported till December 29, 2021, across the globe.

The COVID-19 pandemic and lockdown in various countries across the globe has drastically impacted the financial status of businesses across all the sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions.

For instance, the National institute for Health Research’s (NIHR) Unit on Global Surgery, a government agency in the U.K, has put together CovidSurg, a collaborative of researchers who have created a platform of studies that explore the impact that coronavirus has had and continue to have on surgeons, surgical department and patients around the globe. The study reveals that a total of 28.4 million operations were postponed or cancelled during the 12 weeks COVID-19 surge.

Global Medical Adhesives and Sealants Market – Restraint

Stringent regulations for medical grade products are expected to hinder growth of the global medical adhesives and sealants market. The Food and Drug Administration (FDA) in the U.S., the European Medicines Agency (EMA) in Europe, the China Food and Drug Administration (CFDA) in China, and other government agencies administer requirements that include testing, safety, effectiveness, manufacturing, labeling, promotion and advertising, distribution and post-market surveillance.

Even after a company obtains regulatory approval to market a product, the product and the company’s manufacturing processes and quality systems are subject to continual review by the FDA and other regulatory authorities globally.

Key Players

Major players operating in the global medical adhesives and sealants market include 3M, Adhesion Biomedical, Bostik Ltd, Henkel AG & Company, B. Braun Melsungen, CryoLife, Inc, Itac Ltd, Ethicon Inc, Chemence Ltd, Covidien Ltd, GluStitch Inc, Cyberbond LLC, Adhezion Biomedical, Cohera Medical, Inc, Baxter International Inc, GEM S.r.l, Meyer-Haake Gmbh, Biocoral, Inc, Scapa Healthcare, Lohmann GmbH, and Mercator Medical.