Adhesives are chemical formulations used to adhere and seal materials. Each new product in the adhesives for medical device assembly market must not only be better and more favorably priced than its predecessor, but must also meet the requirement of sustainability. With growing environmental concerns, the development of new products is becoming ever more demanding, and manufacturers must take into consideration more complex requirements for their new products. The global adhesives for medical device assembly market is estimated to surpass $1,909m by 2025 growing at an estimated CAGR of 6.5% from 2018 to 2025. The Americas region is the largest market for adhesives for medical device assembly owing to the advancements in technology such as the use of nanoparticles.
Adhesives for Medical Device Assembly Market Outlook
Adhesives are materials that are basically used for binding two objects. These adhesives find a large number of applications owing to their flexible nature. By resin type, the adhesives for medical device assembly market has been classified into structural, non-structural, pressure sensitive, instant adhesive, light curing, and others. By substrate adhesive, the medical device assembly market is classified into metal, glass, ceramic, rubber, plastic, and others. By device type, the market is segmented into assistive device & technology, surgical & diagnostic equipment, and others. By application, the market is segmented into endoscopes, hearing aids, catheter assembly, and others.
Adhesives for Medical Device Assembly Market Growth Drivers
The market is expected to be majorly driven by the rising incidences of wound infections, increasing awareness regarding the advanced technologies in the market, and rising governmental spending on healthcare. The demand for diagnostic equipment and disposables are on the surge, propelling the demand for medical devices across regions; and thereby, the increasing the need for manufacturing and assembling medical devices.
Adhesives for Medical Device Assembly Market Challenges
Stringent regulations on the usage of adhesives in the medical device industry coupled with the rising compliance costs is restraining the growth of the adhesives for medical device assembly market. High R&D and production costs are hindering the market growth as manufacturer want to improve the product quality according to the new regulations. Also the high price of raw materials is acts as a major challenge for the market.
Adhesives for Medical Device Assembly Market Research Scope
The base year of the study is 2017, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the adhesives for medical device assembly market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of formulation technology, substrates in adhesives for medical device assembly market, and their specific applications.
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