iCrowd Newswire – Jul 1, 2020
The booming economies of developing nations such as India, Brazil, and China have massively increased the disposable income of the people in these countries, which has in turn, boosted their spending power. This has also considerably spiked the healthcare spending in these countries, thereby propelling the demand for pharmaceuticals products and various medical instruments and equipment. Because of this factor, the sales of medical adhesives is increasing rapidly in these nations and this trend is predicted to continue over the next several years.
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The objective of this research includes;
- Major factors driving the medical adhesives market and their impact during the short, medium, and long terms
- Market restraints and their impact during the short, medium, and long terms
- Recent trends and evolving opportunities for the market participants
- Historical and the present size of the market segments and understand their comparative future potential
- Potential of on-demand logistics services, so the market players sleep apnea devices make informed decisions on the sales of their offerings
- Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
- Major players operating in the sleep apnea devices market and their service offerings
Apart from the above-mentioned factor, the COVID-19 outbreak is also contributing heavily toward the ballooning sales of medical adhesives all over the world. This is mainly due to the fact that “the pandemic has increased the need for various types of healthcare equipment and medical devices such as face masks, gloves, personal protection equipment (PPE) kits, thermal scanners, and ventilators, which has subsequently, boosted the requirement of medical adhesives as these materials are required for joining the different components of medical tools and instruments”.
The increasing prevalence of surgeries and long-term chronic care therapies is another crucial factor responsible for the growing sales of medical adhesives throughout the world. Due to these factors, the global medical adhesives market is predicted to exhibit a huge growth in its valuation, from $8,714.9 million to $16,367.2 million from 2019 to 2030. Furthermore, the market is predicted to progress at a CAGR of 2.3% from 2020 to 2030, according to the estimates of the market research organization, P&S Intelligence.
Globally, the sales of medical adhesives was found to be the highest in North America in the last few years. This is credited to the high spending power of the people in various North American countries, rapid innovations in the healthcare industry, and the presence of numerous government programs and schemes such as Medicare, Medicaid, veterans’ health administration, and the children’s health insurance program. These healthcare programs and schemes accounted for almost 60—65% of the total healthcare spending and provision in the region in the past.
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Based on Resin
- Polyurethane (PU)
Based on Technology
- Hot melt & other solids
Based on Application
- Internal Medical Application
- External Medical Application
- Medical Devices & Equipment
- About P&S IntelligenceP&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Keywords: Medical Adhesives Market, Medical Adhesives Market Research Report, Medical Adhesives Market Size, Medical Adhesives Market Overview