Newark, NJ, Sept. 17, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global surgical sealants and adhesives market is expected to grow from USD 2.08 billion in 2019 and to reach USD 4.34 billion by 2027, growing at a CAGR of 9.64% during the forecast period 2020-2027.
Factors contributing to the growth of the surgical sealants and adhesives market are the increasing requirement for surgical services and growing concerns to decrease surgical wounds. Globally, the number of operations being undertaken has grown significantly. Surgical procedures are generally supplemented by a risk of excessive bleeding, wound infection, or tissue damage. Also, patients who have diabetes need to be extra careful as chances of complexities during and post-surgery are significantly higher in their case. As the volume of operations is increasing, extensive research and development activities concentrated on the widening applicability of surgical sealants and adhesives are also increasing.
Sealants and adhesives have developed to become helpful accompaniments in advanced surgical procedures. They are extensively preferred due to their efficacy, safety, and usability in restoring injured tissues and aiding wounds during surgery. Surgical sealants and adhesives can be employed as supplements to sutures to restrict air and liquid leakages.
Conventional alternatives to surgical sealants are sutures and staples, which are anticipated to be replaced by medical sealants and adhesives, due to their minimal blood loss and better wound closure capabilities. The sealants facilitate less painful surgeries and do not need removal. However,their huge costs may hinder the market growth. Also, strict regulatory approvals are creating substantial challenges in market growth. Growth in this market is driven by the increasing prevalence and incidence rates of different disorders such as obesity and CVDs, an increase in the number of accidents, increasing incidence of trauma, and sports-related injuries, which has led to a rise in surgical methods being performed across the globe. Moreover, the requirement to control blood loss in patients and research and development being undertaken to bring innovative products to the market is supporting the market growth. Better cosmetic outcomes are also boosting the adoption of surgical sealants and adhesives in cosmetic procedures across the globe.
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Key players operating in the global surgical sealants and adhesives market include CryoLife, Inc., Medtronic PLC, Cohera Medical, Inc., Mallinckrodt plc., Integra LifeSciences Holdings Corporation, Baxter International, Inc., B. Braun Melsungen AG, Cardinal Health, C.R. Bard, Inc. and Ethicon, Inc. To gain a significant market share in the global surgical sealants and adhesives market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
- In 2019, Johnson & Johnson (Ethicon, Inc.) launched VISTASEAL Fibrin Sealant in order to handle bleeding during the operation.
- In 2019, AMS acquired Sealantis. Sealantis is an Israeli-based medical device company with a patent-protected alga-mimetic sealant technology platform with a broad range of potential surgical implications under development. The collaboration helped AMS strengthen its presence with a delivery systems and technology platform with significant potential across a variety of applications in the high-margin internal surgery market.
- In 2018, Baxter acquired two hemostat and sealant products from Mallinckrodt. RECOTHROM Thrombin topical hemostat is the first and only stand-alone recombinant thrombin. PREVELEAK surgical sealant is employed in vascular reconstruction. This acquisition helped Baxter develop its product portfolio and accumulate a larger share of the global surgical sealants and adhesives market.
The natural or biological segment dominated the market and held the largest market share of 58.47% in the year 2019
The type segment includes synthetic and semi synthetic, and natural or biological. The natural or biological segment held the highest share of 58.47% in the surgical sealants and adhesives market in 2019. The natural or biological segment is classified into fibrin, collagen-based, and gelatin-based. Fibrin sealants held the highest share of 38.60% in 2019, due to its wide ranges of applications in the medical field. It has effective applications in cardiovascular, orthopedic, thoracic, neuro, and reconstructive surgeries. Moreover, fibrin, among other sealants, is the only product to receive approval from the FDA. It can be utilized under all the three groups, namely sealants, hemostats, and adhesives.
The central nervous systems segment dominated the market and valued at USD 364.15 million in the year 2019
The application segment includes ophthalmology, urology, pulmonary, orthopedic, general surgery, cardiovascular and central nervous system. The central nervous system segment had the highest share of USD 364.15 million in 2019 due to the increasing prevalence of central nervous systems disorders across the globe. Sealants have the highest preference in central nervous systems surgeries, over conventional closure methods such as sutures, wires, and staples. Traditional sealant methods are challenging to utilize in central nervous systems operations. Hence, the demand for surgical sealants and adhesives for central nervous systems has grown exponentially.
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Regional Segment Analysis of The Surgical Sealants and Adhesives Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global surgical sealants and adhesives market is classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific is expected to register significant growth of 11.58% over the forecast period in the global surgical sealants and adhesives market due to the continuous transformation of healthcare delivery systems into advanced value-based healthcare methods that form a sustainable health system. It will encourage people to avail of better and cheaper facilities at low costs. Also, it will promote the use of innovative techniques in operations and other healthcare practices.
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About the report:
The global surgical sealants and adhesives market is analyzed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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