$1.9bn
$XXX.Xm
2,982
43
$XXX.Xm
The Medical Adhesives and Sealants Manufacturing industry is made up of companies that manufacture glues and other adhesives used for sealing wounds, repairing ligaments and other medical purposes. Industry products compete with traditional bandages, stitches and other medical supplies. Typically, one of the most significant determinants of demand for medical supplies like these is price. Hospitals will likely choose stitches for sealing a wound if that will be more affordable than a medical adhesive. As a result, industry revenue can be volatile depending on the volatility of input costs. In recent years, industry purchases costs have shifted significantly, creating revenue volatility. Over the five years to 2023, industry revenue is expected to have decreased at a CAGR of 0.5%, including an expected 0.2% decrease in 2023 to reach an estimated $1.9 billion.The high-strength medical adhesives segment has been a key driver of growth for this industry. High-strength medical adhesives are strong, relatively easy to use, biocompatible and resorbable. They are also applicable in cases where traditional sutures appear to be too bulky, which can lead to complications, such as intimal hyperplasia. The use of high-strength adhesives in various kinds of reconstructive and plastic surgeries has led to further growth in revenue generated from this product segment.Demand for industry products is largely based on demand for healthcare services, since surgical adhesives are used for surgical procedures and are crucial to hospitals and other healthcare providers. For this reason, in 2020, the industry struggled as the COVID-19 pandemic led to a significant decline in healthcare expenditure. At the height of the pandemic, emergency room visits declined, as people were staying at home and putting off hospital visits for non-life-threatening injuries. However, as the healthcare demand recovered, industry revenue recovered, particularly in 2021. Meanwhile, a surge in commodity prices is expected to lead to greater product prices, aiding overall revenue but harming profit.This industry is expected to return to growth over the next five years, 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. Over the five years to 2028, IBISWorld expects industry revenue to increase at an annualized rate of 1.5% to $2.1 billion.
Industry revenue has declined at a CAGR of 0.5 % over the past five years, to reach an estimated $1.9bn in 2023.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2023 | Revenue ($m)
2023 | Profit ($m)
2023 | Profit Margin (%)
2023 |
---|---|---|---|---|
3m Company | 238.6 | 60.8 | 25.5 | |
Baxter International Inc. | 172.9 | 16.6 | 9.6 | |
Johnson & Johnson | 87.3 | 18.7 | 21.4 |
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Industry revenue is measured across several distinct product and services lines, including Dental adhesives and sealants , Internal medical adhesives and sealants and External medical adhesives and sealants. Dental adhesives and sealants is the largest segment of the Medical Adhesives & Sealants Manufacturing in the US.
Internal and external medical adhesives and sealants are essential
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).
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NAICS 33911 - Medical Adhesives & Sealants Manufacturing in the US
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Since the COVID-19 pandemic, input prices have been elevated. This has driven up industry revenue as prices have been passed along.
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Internal and external medical adhesives and sealants are essential. Sealants are used since sutures and staples without additional adhesives and sealants are more likely to r...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Great Lakes region is a vital manufacturing hub. Major suppliers operate heavily in the Great Lakes, making it a prime spot for adhesive manufacturers.
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Large, diversified, companies account for the largest shares of industry revenue. These include 3M, Baxter International and Johnson & Johnson.
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3M accounts for the largest share of industry revenue. The company produces a wide range of products, including medical adhesives.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The FDA regulates medical devices in the United States. Devices, including medical adhesives, must undergo approval before hitting the market and quality control afterward.
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Profit has declined in recent years. High purchase and wage costs have hampered the industry.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Medical Adhesives & Sealants Manufacturing in the US industry in United States is $1.9bn in 2024.
There are 43 businesses in the Medical Adhesives & Sealants Manufacturing in the US industry in United States, which has declined at a CAGR of 0.0 % between 2018 and 2023.
The market size of the Medical Adhesives & Sealants Manufacturing in the US industry in United States has been declining at a CAGR of 0.5 % between 2018 and 2023.
Over the next five years, the Medical Adhesives & Sealants Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Medical Adhesives & Sealants Manufacturing market in United States are 3m Company, Baxter International Inc. and Johnson & Johnson
Producing adhesives for medical and surgical equipment and Producing high-strength adhesives for therapeutic use to seal wounds and blood vessels are part of the Medical Adhesives & Sealants Manufacturing in the US industry.
The company holding the most market share in United States is 3m Company.
The level of competition is high and steady in the Medical Adhesives & Sealants Manufacturing in the US industry in United States.