Medical Device Adhesive Market to Grow at a CAGR of 7.5% from 2020 to 2027

Driving factors include increasing usage of medical device adhesives and technological advancements in medical device adhesives.

NEW YORK, UNITED STATES, November 17, 2022 /EINPresswire.com/ -- Medical Device Adhesives are ideal for array medical applications. These solutions range from a scope of Q-tip to an X-ray machine. The medical device adhesives are commonly used for bonding of plastics and metals. Some of the medical device adhesives require passing of biocompatibility testing for structural bonding of equipment. Some of the materials majorly used in formulation of these adhesives include cyanoacrylates, anaerobics, UV-curable and others.

The growth of medical device adhesive market is also attributed to the increasing usage of medical device adhesives, and technological advancements in medical device adhesives. However, lack of adoption in emerging economies is likely to hamper the growth of the market during the forecast period.

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Market leaders operating in the market have undertaken various organic growth strategies in the medical device adhesives Market. The medical device adhesives market majorly consists of the players such Dymax Corporation, Henkel AG & COMPANY, KGAA, Epoxy Technology, Inc., Master Bond, H.B. Fuller Company, Adhesives Research, INCURE INC., Permabond LLC, 3M, Dr. and Hönle AG among others. Several in organic approaches, such as mergers & acquisitions and collaboration in the medical device adhesives market, have resulted in the positive growth of the market.

Mergers & Acquisitions help the company to strengthen its revenue, which allows the company to hold a strong position in the market. Similarly, utilizing expansion activities, it is easy to venture into untapped economies and use the opportunities being offered.

Below is the list of the growth strategies done by the players operating in the medical device adhesives market:

In Apr-20, Dymax Corporation, a global chemical manufacturer, has invested $21.5 million in establishing a manufacturing facility in Gastonia

In Apr-20, Master Bond EP40Med, a two-part epoxy system, combines toughness and a low tensile modulus while still providing a relatively high lap shear strength. It meets the requirements of ISO 10993-5 testing and is therefore considered to be non-cytotoxic. EP40Med resists sterilization to gamma, EtO, chemicals, and liquid disinfectants. It is recommended for use in medical device manufacturing and repair for both disposable and reusable instruments.

In Jun-20, Dymax Corporation expanded its range of MD medical device adhesives with the introduction of MD 250-CTH, Cationic Epoxy for Medical Device Assembly.

Medical Device Adhesive Market Segmentations:

Based on device type, the market is segmented into catheters, wearable medical devices, needles and syringes, pacemaker, tube sets, and masks. The wearable medical devices segment is sub segmented into smartwatches, wristband and activity monitors, patches, and smart clothing. The catheters segment held the largest share of the market in 2019. However, the wearable medical devices segment is estimated to register the highest CAGR in the market during the forecast period. The growth of the wearable medical devices segment van be attributed to the rising health conscious population, increasing product launch and rising disposable income in developing countries.

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