Skin Adhesive Market Forecast and CAGR
In the forecast period of 2020 to 2027, the skin-adhesive market is expected to expand. The market is expected to grow at a higher CAGR over the forecast period. The rising number of trauma cases and traffic accidents would continue to propel the market forward.
Moreover, the increasing number of surgical procedures and technological advancements in products will likely accelerate the sales. Growing concerns about skin-related issues, on the other hand, would fuel various opportunities, resulting in the overall growth of the demand during the forecast period.
What is driving demand of Skin Adhesive?
The market is expected to be driven by functional speed provided by skin adhesive over conventional wound ceasing methods such as stitches. Furthermore, recent development indicates that global players are embracing higher quality, more cost-effective solutions that need less maintenance and are easier to handle to gain a competitive advantage over their rivals.
Increasing technical advancements has contributed to the production of environmentally friendly and biocompatible surgical adhesives. Furthermore, the public awareness of skin-related issues would create more opportunities for the industry to expand.
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Which key Factors will Drive Sales of Skin Adhesive?
The product ensures that the dressings are applied safely to the skin, promoting recovery and that they are removed painlessly with no effects on the skin. These are used to relieve pain and prevent the exacerbation of existing wounds as well as the development of new ones. They’re also used in attachable and wearable medical devices, as well as transdermal patches since they’re safe and comfortable.
Along with this, there is demand of skin adhesives in medical sector as these are used in medical applications and products such as anesthesia mask bonding, molding, hearing aid assembly, and polycarbonate part assembly. The critical factors that drive the growth in medical device and equipment are good thermal and chemical resistance, high gap filling, low shrinkage, rapid cure, and substrate flexibility.
US Skin Adhesive Market Outlook
In 2019, the U.S. had the largest share, and this is projected to continue over the forecast period. The growth of the skin adhesive market in this area is being fueled by increased patient knowledge of wound infection and skin diseases, as well as a growing geriatric population.
Furthermore, a major trend in this area is the transition of market players towards advanced wound dressing. The elderly are more susceptible to a variety of disease than the younger population, which is anticipated to build a strong demand in the coming years. Moreover, US is the leading country when it comes to research spending in pharmaceutical sector.
Owing to the above mentioned factors, US is supposed to maintain its market dominance in the coming forecast years.
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Asia Pacific Skin Adhesives Market Demand Outlook
Individual market affecting factors such as changes in medical regulation in the domestic market are discussed in the Asia Pacific region, which affects the market’s current and future trends.
Some of the key pointers used to forecast the business scenario for Asia Pacific region includes demand rates, production sites, and volume, import-export analysis, price pattern analysis, cost of raw materials and downstream and up-stream supply chain analysis.
In addition, the rise in the population in Asia Pacific region and the rising number of surgical procedures, as well as technological advancements in skin adhesive products, will likely to accelerate the growth of the market over the forecast period.
Who are the Key Suppliers/Manufacturers of Skin Adhesive?
The market is characterized by a mix of small and large players which includes
- Baxter International
- Ethicon U.S. LLC (subsidiary of Johnson & Johnson Services, Inc.)
- Advanced Medical Solutions Group plc
- Pfizer Inc.
- connexicon medical
- Chemence Medical Inc.
- Adhezion Biomedical
- Meyer-Haake GmbH Medical Innovations.
- Beijing Compont Medical Devices Co. Ltd.
among other domestic and global players.
Since the market is competitive, players engage in strategic initiatives such as looking for mergers to enhance the growth. Moreover, focus on the product development is being prioritized with the help of R&D so as to improve its global competitiveness and improve its customer base in the long run.
An Adaptive Approach to Modern-day Research Needs
Skin Adhesive Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
By Product type
- 2-octyl cyanoacrylate adhesive
- N-butyl cyanoacrylate adhesive
- 2-ethyl cyanoacrylate adhesive
- Methyl cyanoacrylate adhesive
- Surgical incisions
- Trauma-induced lacerations
- Burn and skin grafting
- Wound closure
- Chronic wounds
- Trauma centers
- Ambulatory surgical centers
By Sales channel
- Direct sales
- Pharmacies and Drug Stores
- Other Distribution Channels
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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