Medical Adhesives & Sealants Manufacturing
Technological advancements in the Medical Adhesives and Sealants Manufacturing industry have manifested in many new products that offer alternatives to traditional methods of hemostasis and sealing wounds through sutures. These products have significant therapeutic value and aesthetic appeal, which have led to widespread use by physicians. Consequently, IBISWorld expects industry revenue to increase over the five years to 2019. Over the past five years, demand for healthcare services has increased as the number of people with private health insurance has grown and hospital revenue has steadily risen. Therefore, demand for industry products has also increased. This industry is expected to maintain its growth over the five years to 2024, as further technological advancements in the medical adhesives segment continue to gain applicability to new surgical procedures and achieve greater market penetration in the medical equipment sphere.
Operators in this industry manufacture adhesives and sealants used for sealing surgical wounds and blood vessels. Industry products also have applications in dental reconstruction and surgery, ligament fixation and joint reconstruction. Additionally, industry operators produce adhesives and sealants used in bonding medical equipment. Industrial adhesives used in construction and other related activities are not included in this industry (see IBISWorld report 32552).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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