TAGS: Sealants Sustainability / Natural Adhesives
Persistence Market Research (PMR) anticipates that the global surgical hemostats, internal tissue sealants and adhesion barriers market, valuated at US$ 3,158.6 Mn in 2017, is expected to increase at a CAGR of 8.9% through to 2025. The market is predicted to exceed a value of US$ 6,200.0 Mn by the end of 2025.
North America holds the largest market share of over 48% in the surgical hemostats, internal tissue sealants and adhesion barriers market and is expected to grow at a CAGR of 9.9% over the forecast period 2017-2025.
Expanding Healthcare to Drive Market
Increasing geriatric population across the globe coupled with increasing demand for cardiovascular, orthopaedic, digestive, and other surgical procedures is expected to fuel consumption of surgical hemostats, internal tissue sealants and adhesion barriers market. Ageing population, strong healthcare infrastructure, and well-established reimbursements are driving the growth of the global surgical hemostats, internal tissue sealants and adhesion barriers market. Variables, for example, rising number of surgeries, rising rates of sports injuries and spinal issues, and rising need of compelling blood loss administration are central point driving the growth of the surgical hemostats, internal tissue sealants and adhesion barriers market.
Likewise, the expanding rate of chronic diseases, bone injuries (hip/knee), expanding obesity rate, expanding trauma/accidental cases and government funding subsidizing for improvement of new surgical adhesives and bio sealants and expanding healthcare expenditure consumption are the central point driving growth during the forecast period.
There are a few customary other options to surgical sealants accessible in the market, which offer comparative outcomes. Surgical adhesive and bio glue will conceivably supplant sutures and staples as they have better conclusion abilities, minimize blood loss, speed up usage, and encourage an easy and less agonizing operation without the requirement for evacuation.
Highest Growth in Asia-Pacific Region
Macroeconomic factors such as high unmet patient needs, government reimbursement plans, and strengthening of distribution network by key players in the surgical hemostats, internal tissue sealants and adhesion barriers market is another factor that is going to drive the market in future. Other prominent growth drivers include rapidly growing medical technology industry and cost-effectiveness of the treatment in Asia-Pacific and Latin America regions.
The products offer upgraded biocompatibility, quality, and enhanced aesthetics but, some surgical sealants and tissue adhesion products demonstrate less glue quality and have restricted applications. In any case, high cost of surgical sealants, outlining quality, and stringent administrative approvals, less access of new adhesive technology in developing regions are posturing noteworthy difficulties to market growth of surgical hemostats, internal tissue sealants and adhesion barriers during the forecast period.
However, economic issues in some countries and reimbursement cutbacks, the high expenses of surgical procedures and stringent administrative approvals are posturing huge difficulties to market development are some central point that could hamper the growth of the surgical hemostats, internal tissue sealants and adhesion barriers market to a specific extent during the forecast period.
Among these, hemostats product type segment is expected to exhibit the highest growth over the forecast period with a CAGR of 8.9%.
Some key players in the global surgical hemostats, internal tissue sealants and adhesion barriers market identified are Pfizer, Sanofi S.A., Cryolife, Baxter International Inc., Braun Melsungen AG, Johnson and Johnson, Cohera Medical, Inc., Tissuemed Ltd., C.R. Bard Inc., Integra LifeSciences Corporation.
Source: Persistence Market Research