Surgical Sealants and Adhesives Market Analysis
The worldwide surgical sealants and adhesives market is predicted to touch USD 2.12 billion at a 9.3% CAGR over the forecast period (2018-2023), states the latest Market Research Future (MRFR) report. Surgical sealants and adhesives are useful accompaniments in the modern surgical procedure. It is extensively used owing to its alluring features, namely usability in repairing injured tissues, support wounds obtained at the time of the surgery, and their efficacy and safety. Surgical sealants and adhesives can be used along with staples and sutures for strengthening, treating emergency hemostasis, and sealing leaks of gas or fluids.
Various factors are propelling the surgical sealants and adhesives market growth. Some of these factors, according to the Market Research Future report, include growing incidence and prevalence of various disorders such as CVDs and obesity, increasing number of accidents, a growing number of surgeries, rising incidences of trauma, and growing need for managing blood loss in patients. Additional factors pushing market growth include rising geriatric population, higher uptake of products that are technologically advanced, rising adoption of surgical sealants and adhesives, the prevalence of invasive surgeries, and inclination for simpler, safer, and quicker and minimally invasive surgeries.
On the contrary, extensive clinical data needs to launch products, lack of reimbursements policy, high cost of products, strict regulatory approvals, lack of reimbursement, high technicality, and alternative methods are factors that may hamper the surgical sealants and adhesives market growth over the forecast period.
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Surgical Sealants and Adhesives Market Segmentation
The MRFR report offers a wide segmental analysis of the surgical sealants and adhesives market on the basis of indication, product, and application.
By product, the surgical sealants and adhesives market is segmented into synthetic and semi-synthetic sealants and adhesives and natural/biological sealants and adhesives. The natural/biological sealants and adhesives segment are again segmented into polysaccharide-based sealants and adhesives and polypeptide/protein-based sealants and adhesives. The synthetic and semi-synthetic sealants and adhesives is again segmented into urethane-based, polyethylene glycol hydrogels, cyanoacrylates, and others.
By indication, the surgical sealants and adhesives market is segmented into tissue engineering, tissue sealing, and surgical hemostasis. Of these, the tissue sealing segment will have the largest share in the market over the forecast period. This is owing to the rising number of surgeries that is being performed annually, an increasing number of people suffering from sports-related injuries and back pain and increasing prevalence of lifestyle diseases.
By application, the surgical sealants and adhesives market is segmented into urological surgeries, orthopedic surgeries, central nervous system surgeries, cardiovascular surgeries, general surgeries, and others.
Surgical Sealants and Adhesives Market Regional Analysis
By region, the surgical sealants and adhesives market report covers the latest trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA).
Of these, the Americas will spearhead the market over the forecast period. This is on account of the increasing number of surgeries, increasing number of accidents, growing prevalence as well as the incidence of different disorders, and the presence of a well-established healthcare sector.
The worldwide surgical sealants and adhesives market in Europe is predicted to have the second-largest share in the market over the forecast period. This is due to the rising adoption of new technologies and the growing prevalence of chronic diseases.
The worldwide surgical sealants and adhesives market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to constant developments in the healthcare sector and the huge population base of diabetic patients.
The worldwide surgical sealants and adhesives market in the Middle East and Africa is predicted to have a small share over the forecast period.
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Surgical Sealants and Adhesives Market Key Players
Leading players profiled in the surgical sealants and adhesives market report include Ocular Therapuetix, Inc. (US), Vivostat A/S (Denmark), Sealantis, Ltd (Israel), Sanofi Group (France), Cohera Medical, Inc. (US), B. Braun Melsungen AG (Germany), Medtronic plc (US), Baxter International, Inc. (US), Johnson & Johnson (UK), and C. R. Bard, Inc. (US). Key players are incorporating numerous strategies such as partnerships, mergers and acquisitions, expansions, product launches and innovations, collaboration, and research and development to create a foothold in the market.