According to report by PS Intelligence, the global medical adhesives market generated a revenue of $8,714.9 million in 2019, and is projected to reach a value of $16,367.2 million by 2030, advancing at a 2.3% CAGR during the forecast period (2020–2030). The market is registering growth due to the increasing per capita income, surge in population, and increasing healthcare expenditure by developing countries. Medical adhesives are the products that are utilized for the securement of critical and non-critical products and devices, facilitating skin healing and protection, and allowing non-invasive monitoring.

In terms of technology, the medial adhesives market is divided into hot melt other solids, water-borne, and solvent-borne. Among all these, the water-borne division is expected to progress at the fastest pace during the forecast period. These adhesives have various advantages, such as good breathability, quick-tackiness, and good anchorage to cloth fact stocks. In addition to this, the sustainable nature and resistivity to water and moisture of these adhesives is also among the major factors leading to their increasing demand.

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Geographically, North America emerged as the largest medical adhesives market during the historical period (2014–2019). The major reasons for this is the high purchasing power and demand and increasing opportunities for advancement in the healthcare industry in the region. Within the region, the U.S. dominates the market, which can be owing to the increasing technological advancements, high per capita income, and increasing government support and initiatives regarding free or insured healthcare policies in the country. The Asia-Pacific region is expected to register the fastest growth during the forecast period.

A major trend that is being witnessed in the medical adhesives market is the increasing consumption of bio-adhesives for internal medical treatment, implants, and wound healing in the medical industry. These adhesives are formed synthetically from biological monomer, including synthetic material or sugar, and are designed for adhering biological tissues. Traditional wound closure products such as stitches are more painful and leave dark mars on the skin upon their removal. Hence, in order to overcome these disadvantages, the medical industry is now making use of topical skin closure systems.