Topical Bioadhesives Market Attains US$ 1.13 Billion Valuation in 2033

The topical bioadhesive market refers to the market for adhesives that are applied to the skin or biological tissues for various purposes, such as wound closure, drug delivery, and tissue adhesion. These bioadhesives provide temporary or long-lasting attachment to the targeted site, promoting healing, preventing infection, and enabling localized drug delivery.

The global market currently stands at US$ 349.5 Million in 2022 and it is further projected to expand at a CAGR of 11.2% over the forecast period (2023 to 2033).

The demand for advanced wound care products, including topical bioadhesives, is on the rise. The growing prevalence of chronic wounds, such as pressure ulcers and diabetic foot ulcers, has created a need for effective wound closure and management solutions.

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Topical bioadhesives offer advantages such as improved wound healing, reduced infection rates, and ease of use, driving their adoption in the wound care market. Topical bioadhesives are finding applications beyond traditional wound closure. They are being explored for drug delivery, ocular applications, tissue engineering, and cosmetic procedures. The versatility and adhesive properties of topical bioadhesives make them suitable for various applications, expanding their market potential. The global market for topical bioadhesive is expected to grow at a significant rate in the coming years.

Key Takeaways from Market Study

Synthetic material accounts for 201.3 Million in 2022 owed to versatility offered in optimizing adhesive strength based on specific application requirements.
By application, short term accounts for US$ 244.3 Million in 2022. Time-saving benefit is particularly advantageous in emergency departments, outpatient settings, and situations where efficiency and prompt treatment are crucial.
Hospital pharmacies held more than 43.0% of the global market share in 2022, as they play crucial role in distributing topical bioadhesive products to various departments and units where they are needed.
By region, North America held dominant share in world in 2022. The U.S. leads in this region with high prevalence of chronic diseases and high requirement of topical bioadhesive.

Market Competition

The topical bioadhesive market is highly competitive with several players. These companies are actively seeking partnerships and collaboration with other key players to expand their reach by launching new cost-effective yet economical products.

In August 2022, Due to a partnership between Medtronic and BioIntelliSense, a multi-parameter wearable for continuous remote patient monitoring from the hospital to home will only be supplied in the United States.
In April 2023, Medtronic and DaVita launched Mozarc Medical with the goal of providing fresh treatments for people with renal failure.

Key Companies Profiled: