Medical Adhesives & Sealants Manufacturing in the US - Market Research Report (2013-2028)
New York, United States
Last Updated: September 2023
NAICS OD4095Revenue
$1.9bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
2,982
Businesses
43
Wages
$XXX.Xm
Medical Adhesives & Sealants Manufacturing in the US industry analysis
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.
Trends and Insights
- Since the COVID-19 pandemic, input prices have been elevated. This has driven up industry revenue as prices have been passed along.
- 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 result in air and fluid leakage around the wound.
- 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.
- Large, diversified, companies account for the largest shares of industry revenue. These include 3M, Baxter International and Johnson & Johnson.
Industry Overview
Market size and recent performance (2013-2028)
Industry revenue has declined at a CAGR of 0.5 % over the past five years, to reach an estimated $1.9bn in 2023.
Trends and Insights
Volatile input prices and supply chain disruptions force consolidation
- The price of plastic material and resin, a significant input to medical adhesive and sealant manufacturing, skyrocketed in 2021 following major supply chain disruptions.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
A post-COVID landscape
- The prices of critical inputs, namely the price of plastic materials and resin, are expected to continue to see growth, albeit at a slower rate than what was seen in recent years, which will support continued industry revenue growth.
Biggest companies in the Medical Adhesives & Sealants Manufacturing in the US
| Company | Market Share (%)
2023 | Revenue ($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 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
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.
Trends and Insights
Internal and external medical adhesives and sealants are essential
- This segment includes medical adhesives and sealants developed to clot blood and seal sutures and staples, as well as, in some cases, close wounds independently.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Medical Device Manufacturing in the US
- Medical Instrument & Supply Manufacturing in the US
Complementors
- Adhesive Manufacturing in the US
- Chemical Product Manufacturing in the US
- Hospitals in the US
International industries
- Adhesive Manufacturing in Canada
- Adhesive Manufacturing in Australia
- Glue & Adhesives Manufacturing in the UK
Table of Contents
About this industry
Industry definition
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).
What's included in this industry?
Producing adhesives for medical and surgical equipmentProducing high-strength adhesives for therapeutic use to seal wounds and blood vesselsProducing adhesives for orthopedic use in bonding bones and joint reconstructionProducing adhesives for use in orthodontics, dental reconstruction and surgeryCompanies
3m CompanyBaxter International Inc.Johnson & JohnsonPurchase this report to view all 3 major companies in this industry.
Related Terms
ADHESIVES AND SEALANTSADHESIONSCYANOACRYLATESIndustry Code
NAICS 33911 - Medical Adhesives & Sealants Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Since the COVID-19 pandemic, input prices have been elevated. This has driven up industry revenue as prices have been passed along.
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2013-2022) and forecast (2023-2028)
- Employees, including historical (2013-2022) and forecast (2023-2028)
- Businesses, including historical (2013-2022) and forecast (2023-2028)
- Profit, including historical (2013-2023)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
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...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2023
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2023
- Major market segmentation in 2023
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
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.
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2023
Tables
- Number and share of establishments in each state in 2023
- Number and share of revenue each state accounts for in 2023
- Number and share of wages each state accounts for in 2023
- Number and share of employees in each state in 2023
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Large, diversified, companies account for the largest shares of industry revenue. These include 3M, Baxter International and Johnson & Johnson.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2018-2023
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
3M accounts for the largest share of industry revenue. The company produces a wide range of products, including medical adhesives.
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2019 through 2023
- Major companies in the industry, including market share, revenue, profit and profit margin in 2023
- Overview of 3m Company's performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Baxter International Inc.'s performance by revenue, market share and profit margin from 2017 through 2023
- Overview of Johnson & Johnson's performance by revenue, market share and profit margin from 2017 through 2023
Detailed analysis
- Description and key data for 3m Company, and factors influencing its performance in the industry
- Description and key data for Baxter International Inc., and factors influencing its performance in the industry
- Description and key data for Johnson & Johnson, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The FDA regulates medical devices in the United States. Devices, including medical adhesives, must undergo approval before hitting the market and quality control afterward.
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2013-2028)
- Assistance historical data and forecast (2013-2028)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit has declined in recent years. High purchase and wage costs have hampered the industry.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2023
- Investment vs. share of economy
Data tables
- Industry Multiples (2016-2021)
- Industry Tax Structure (2016-2021)
- Income Statement (2016-2021)
- Balance Sheet (2016-2021)
- Liquidity Ratios (2016-2021)
- Coverage Ratios (2016-2021)
- Leverage Ratios (2016-2021)
- Operating Ratios (2016-2021)
- Cash Flow & Debt Service Ratios (2013-2028)
- Revenue per Employee (2013-2028)
- Revenue per Enterprise (2013-2028)
- Employees per Establishment (2013-2028)
- Employees per Enterprise (2013-2028)
- Average Wage (2013-2028)
- Wages/Revenue (2013-2028)
- Establishments per Enterprise (2013-2028)
- IVA/Revenue (2013-2028)
- Imports/Demand (2013-2028)
- Exports/Revenue (2013-2028)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2013-2028)
- IVA (2013-2028)
- Establishments (2013-2028)
- Enterprises (2013-2028)
- Employment (2013-2028)
- Exports (2013-2028)
- Imports (2013-2028)
- Wages (2013-2028)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Medical Adhesives & Sealants Manufacturing in the US industry in United States in 2024?
The market size of the Medical Adhesives & Sealants Manufacturing in the US industry in United States is $1.9bn in 2024.
How many businesses are there in the Medical Adhesives & Sealants Manufacturing in the US industry in 2023?
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.
Has the Medical Adhesives & Sealants Manufacturing in the US industry in United States grown or declined over the past 5 years?
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.
What is the forecast growth of the Medical Adhesives & Sealants Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Medical Adhesives & Sealants Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Medical Adhesives & Sealants Manufacturing in the US market in United States?
The biggest companies operating in the Medical Adhesives & Sealants Manufacturing market in United States are 3m Company, Baxter International Inc. and Johnson & Johnson
What does the Medical Adhesives & Sealants Manufacturing in the US in United States include?
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.
Which companies have the highest market share in the Medical Adhesives & Sealants Manufacturing in the US in United States?
The company holding the most market share in United States is 3m Company.
How competitive is the Medical Adhesives & Sealants Manufacturing in the US industry in United States?
The level of competition is high and steady in the Medical Adhesives & Sealants Manufacturing in the US industry in United States.
