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Medical Adhesives and Sealants - Global Market Trajectory & Analytics

  • ID: 560598
  • Report
  • July 2020
  • Region: Global
  • 310 Pages
  • Global Industry Analysts, Inc
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COVID-19 Disrupts Healthcare Services. Medical Adhesives & Sealants to Decline by -4.9% in 2020

The global market for Medical Adhesives &Sealants is expected to decline by -4.9% in the year 2020. With social distancing being the primary way to reduce the spread of infection and flatten the curve, governments worldwide have encouraged limiting close contact, movement of people, and travel. The pandemic has affected the healthcare industry in multifaceted ways. Access to healthcare services remains severely disrupted on two counts i. e. physician clinics and hospital out-patient departments remain shut over fears of infection spread; and primary healthcare resources are being repurposed and focused for the treatment of COVID-19 patients. Shortage of appropriate PPE equipment is the single most important factor responsible for the closure of physician offices and out-patient clinics treating non-COVID patients. Physicians have therefore been unable to see new patients or provide timely follow-up care for existing patients. With infections continuing to rise worldwide, healthcare systems are overburdened by the flood of COVID-19 patients requiring hospital care. Several countries began by emptying hospitals beds occupied by non-corona virus patients before the pandemic to make space for the arrival of COVID-19 patients. In Hungary, over 69.2%, 75.6%, 62.4% and 42.1% of existing hospital beds were emptied to accommodate COVID-19 patients in the month January, February, March, and April 2020 respectively. Routine healthcare services are especially worst hit in countries with less abundant healthcare such as India, Bangladesh, Pakistan, Brazil, Indonesia, Ethiopia, Tanzania, Congo and Uganda. Against the backdrop of large reallocation of healthcare personnel/ facilities to COVID-19 response and management, there is a sizable shrinking of the provision of non-COVID healthcare services across the entire medical/healthcare spectrum.

Cancellation of Patient Appointments & Surgeries is a Chief Factor Responsible for the Decline

Contributing to the declining demand for non-surgical adhesives and sealants are cancellations of less urgent out-patient consultations. Private practitioners are facing new and unfamiliar challenges in delivering care to non-urgent patients. The most impacted among private medical practice is dental. Dentists are especially bearing the brunt as the risk of COVID-19 cross infections is higher in dentistry as saliva plays a key role in human-to-human transmission. Oral procedures involving the use of drills or ultrasonic devices cause aerosol release increasing the risk of inhalation of airborne particles by doctors. With routine dentistry suspended in most countries, demand for dental adhesives and sealants is declining sharply. Demand for medical skin adhesives and sealants for topical wound care has also declined as wound care clinics suspend routine out-patient appointments. Non-critical and elective surgeries are being cancelled and post one das hospitals come under pressure to reduce maximum patient throughput to avoid crowding. This has reduced the volume of surgeries performed in private hospitals. Also, shortage of testing kits and testing labs juxtaposed with the need to screen and test for SARS-CoV-2 before admission into a general ward and prior to surgical procedure is lowering the volume of surgeries being performed. Also, with ICU capacity overrun with COVID-19 patients requiring critical care and life-support, several hospitals are cancelling scheduled surgeries. With healthcare systems now urged to step up their standard-of-care and take additional precautionary measures to ensure no accidental transmission of COVID-19 infection while providing services to non-COVID patients, the cost of healthcare is increasing and threatens to impact affordability and equitable access to healthcare services. The scenario is leading to reduced delivery of non-COVID-19 out-patient and hospitalization services which in turn is impacting demand for and use of surgical adhesives and sealants including tissue sealants.

Recovery Will Begin When Routine Healthcare Resumes in the Context of COVID-19

The world will need to learn to live with the virus until a vaccine arrives. Routine healthcare will need to resume with new set of safety standards as medical care for the chronically sick cannot be postponed for long. The global market is projected to reach a revised size of US$5.1 billion by the year 2027, trailing a CAGR of 5.6%. Acrylic adhesives and sealants, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$4.5 billion by the end of the analysis period. In the post COVID-19 period, healthcare spending will outstrip global GDP growth supported by societal aging; changing lifestyles and declining health status in younger population; and pandemic induced focus on private, public, national and political level focus on healthcare quality and infrastructure development. Pent up demand for surgeries during this period will result in a parallel increase in demand for surgical adhesives and sealants. Other key noteworthy trends expected to directly influence growth in the market include stringent medical device sterilization procedures and the resulting importance of sterilization resistant adhesives; shift to value-based healthcare, emphasis on patient outcomes, and resulting demand for advanced adhesives and sealants; growing prominence of adhesive dentistry and the ensuing innovation dental adhesives and sealants; and expanding commercial opportunities for biodegradable and biocompatible sealants. In Asia, growth will be led by factors such as, establishment of new hospitals and healthcare facilities, and growing investments in state-of-art medical technology and equipment, emergence of the region as the chief manufacturing center for medical devices and components, growing adoption of advanced surgical wound site closure techniques over traditional sealing approaches, and falling cost of bio-degradable, infection-free and safer sealants.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Medical Adhesives & Sealants - Playing an Important Role in Healthcare

Recent Market Activity

Current and Future Analysis

Global Competitor Market Shares

Medical Adhesives and Sealants Competitor Market Share Scenario Worldwide (in %): 2018 & 2029

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3M Company (USA)

Adhesives Research, Inc. (USA)

Advanced Medical Solutions Group plc (UK)

B. Braun Melsungen AG (Germany)

Baxter International, Inc. (USA)

C. R. Bard, Inc. (USA)

Cohera Medical, Inc. (USA)

CryoLife, Inc. (USA)

Dentsply Sirona Inc. (USA)

Tricol Biomedical, Inc. (USA)

Integra Life Sciences Corporation (USA)

Johnson & Johnson (USA)

Ethicon, Inc. (USA)

Kerr Corporation (USA)

Medtronic Plc (USA)

Procter & Gamble Company (USA)

Sealantis Ltd. (Israel)

Vivostat A/S (Denmark)

3. MARKET TRENDS & DRIVERS

Noteworthy Macro Drivers, Trends, & Issues

Rise in Healthcare Spending to Result in Improved Opportunities

Demographic Shifts & Societal Changes Drive Demand Greater Clinical Care

Rise in Number of Surgeries Augurs Well for Surgical Adhesives & Sealants Growth

Conventional Intracutaneous Sutures & Staples Lose Relevance Amid Surgical Procedure Innovation

Growing Prominence of Adhesive Dentistry Drives Growth of Dental Adhesives & Sealants

Shift to Value-Based Healthcare Spurs Opportunities for High Value Adhesives & Sealants for Medical Devices

Focus on Infection Control Drives Interest in Sterilization Resistant Adhesives

Bio-Adhesives Gain Notable Interest

Research Focus Grows on Development of Next Generation Adhesives and Sealants

Pressure Sensitive Adhesives Gain Significance in Medical Applications

Wearables - An Exciting Opportunity Market

Synthetic Adhesives & Sealants: The Largest Product Market

An Emerging R&D Domain

Huge Unmet Needs Open Opportunities for Biodegradable, Biocompatible & Elastic Sealants

A Peek into Challenges Faced by Fibrin Sealants

Cyanoacrylate Offers Significant Growth Potential

Overview of 2-Octyl Cyanoacrylate Adhesives Market

Elastic Surgical Adhesives for Lung & Cardiovascular Surgeries

Medical Wearables Drive the Silicone Adhesives Market

Dental Tissue Bonding Agents for Dental Reconstruction

Researchers Develop Tougher Dental Composite Drawing Inspiration from Mussels

Dental Sealants Evolve to Address the Need for Less Complex Solutions

Regulatory Concerns for Medical Adhesives and Sealants

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Medical Adhesives and Sealants Market Share (in %) by Company: 2018 & 2025

Market Analytics

CANADA

JAPAN

CHINA

EUROPE

Market Facts & Figures

European Medical Adhesives and Sealants Market: Competitor Market Share Scenario (in %) for 2018 & 2025

Market Analytics

FRANCE

GERMANY

ITALY

UNITED KINGDOM

SPAIN

RUSSIA

REST OF EUROPE

ASIA-PACIFIC

AUSTRALIA

INDIA

SOUTH KOREA

REST OF ASIA-PACIFIC

LATIN AMERICA

ARGENTINA

BRAZIL

MEXICO

REST OF LATIN AMERICA

MIDDLE EAST

IRAN

ISRAEL

SAUDI ARABIA

UNITED ARAB EMIRATES

REST OF MIDDLE EAST

AFRICA

IV. COMPETITION

Total Companies Profiled: 64

Note: Product cover images may vary from those shown
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