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Topical Skin Adhesive Market Report
Topical Skin Adhesive Market Trends, Dynamics & Market Insights
The Topical Skin Adhesive Market is projected to grow from USD 561.3 million in 2020 to USD 891.4 million by 2026 at a CAGR of around 8.2% during the forecast period.
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Topical skin adhesive is defined as liquid cyanoacrylate monomers which polymerize into long solid chains upon contact with blood or a wound surface and thus, hold the wound edged together. Topical skin adhesives can be categorized as 2-Octyl Cyanoacrylate Adhesive, N-2-Butyl-Cyanoacrylate Adhesive, 2-Ethyl-Cyanoacrylate Adhesive, and 2-Octyl Cyanoacrylate & N-2-Butyl-Cyanoacrylate.
Key players operating in the Topical Skin Adhesive market are-
The growth of the topical skin adhesive market is primarily driven by the increasing number of surgical procedures due to accidental injuries. Expanding the geriatric populace across geographies is another key factor that is likely to propel market growth during the review period. The rising preference for minimally invasive surgical procedures is propelling the market growth substantially. In addition to this, increasing investment in research and development activities to develop new products is likely to create lucrative opportunities for the players operating in the global market in the coming years.
By end-user, the topical skin adhesive market has been bifurcated into hospitals, clinics, trauma centers, ambulatory surgical centers, and others. The hospitals' segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the presence of established healthcare infrastructure and skilled healthcare staff.
By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established healthcare industry and the presence of key market players such as Johnson & Johnson (US) and Medline Industries, Inc. (US). The market in Asia-Pacific is expected to be driven by rising incidences of chronic wounds coupled with increased spending on healthcare.
Covid-19 outbreak impacted the growth of the topical skin adhesive market positively as the demand for chronic topical skin adhesive increased despite pandemic. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which affected the product supply for a short period.
Here is the list of the group of customers that the topical skin adhesive market hopes to have the greatest opportunity to convert-
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The topical skin adhesive market size is expected to reach USD 891.4 million in the foreseeable future.
Johnson & Johnson (US), Medtronic plc (Ireland), Advanced Medical Solutions Group Plc (UK), Medline Industries, Inc. (US), B. Braun (Germany), Chemence Medical, Inc. (US), Adhezion Bio-medical, LLC (UK), and Glustich Inc. (Canada) are among the key players in the topical skin adhesive market.
The topical skin adhesive market is expected to witness an impressive growth of 8.2% CAGR in the coming years.
The hospitals' segment is expected to register a healthy CAGR in the topical skin adhesive market in the next five years.
North America is expected to grow at a significant CAGR in the topical skin adhesive market during the forecast period.
Topical skin adhesive distributors, Topical skin adhesive suppliers, Topical skin adhesive manufacturers, Logistics organizations, Government bodies are the target audience in the topical skin adhesive market.
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