Global Surgical Sealant and Adhesives Market - Segmented by Product, Origin, Application and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global surgical sealant and adhesives market is expected to register a CAGR of 9% during the forecast period of 2018–2023. Surgical sealants are substances that block the passage of fluids and blood after any surgical procedure. It is an alternative to the traditional techniques of using sutures, wires, and staples. Currently, surgical sealants and adhesives are replacing sutures and staples due to better closure capabilities, less pain, decreased blood loss, and non-requirement for removal.
Increasing Surgical Procedures
According to the WHO, an estimated 234.2 million major surgical procedures are undertaken every year worldwide. Countries spending USD 100 or less per head on health care have an estimated mean rate of major surgery of 295 (SE 53) procedures per 100,000 population per year. In middle-expenditure (USD 401–1000) and high-expenditure (>USD 1,000), countries accounting for 30.2% of the world’s population provided 73.6% (172.3 million) of operations worldwide. The poor-expenditure (≤ USD 100) countries account for 34.8% of the global population yet undertook only 3.5% (8.1 million) of all surgical procedures. These figures indicate an unprecedented increase in the number of surgical procedures worldwide and remains a major driver for the market.
The other factors, such as advancement in technology are driving the surgical sealant and adhesives market to grow.
Lack of Favorable Reimbursement Policies
The lack of favorable reimbursement policies for surgical sealants and adhesives in most developing countries and a few developed countries is causing hindrance to the market of the wound care and advanced wound closer products. Apart from this, the lack of wound dimensions or failure to document it properly affects the reimbursement significantly. So, these reimbursement policies along with the availability of alternative methods are hindering the surgical sealant and adhesives market.
United States Leads the Market in North America
The United States surgical sealant and adhesives market held the largest share in 2017 in North America due to the presence of high-quality healthcare system and modern medical technology. Additionally, the growing importance of surgical care in public health policies of the United States is likely to contribute toward the growth of the surgical sealant and adhesives market.
Key Developments in the Market
- January 2018: Baxter International Inc. announced an agreement to acquire two hemostat and sealant products from Mallinckrodt PLC - RECOTHROM® Thrombin topical (Recombinant) and PREVELEAK® Surgical Sealant.
- September 2017: Cohera Medical, Inc., announced that it has signed an exclusive, long-term distribution agreement with Terumo Corporation (Tokyo, Japan) for Sylys Surgical Sealant.
Major Players: JOHNSON & JOHNSON, MEDTRONIC, CRYOLIFE, C.R. BARD, INC., SANOFI S.A., B. BRAUN MELSUNGEN AG, BAXTER INTERNATIONAL, INC., COHERA MEDICAL, INC., OCULAR THERAPEUTIX, and VIVOSTAT A/S, among others.
Reasons to Purchase this Report
- Follow the current and future global surgical sealant and adhesives market in the developed and emerging markets.
- Analyzing various perspectives of the market with the help of Porter’s
- Five Forces Analysis.
- Identify the segment that is expected to dominate the market.
- Identify the regions that are expected to witness the fastest growth during the forecast period.
- Identify the latest developments, market shares, and strategies employed by the major market players.
- 3-month analyst support along with the Market Estimate sheet (in Excel).
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- 1. Introduction
- 1.1 Market Definition
- 2. Research Methodology
- 3. Executive Summary
- 4. Key Inferences
- 5. Market Overview
- 5.1 Current Market Scenario
- 5.2 Porter's Five Forces Analysis
- 5.2.1 Bargaining Power of Suppliers
- 5.2.2 Bargaining Power of Consumers
- 5.2.3 Threat of New Entrants
- 5.2.4 Threat of Substitute Products and Services
- 5.2.5 Competitive Rivalry within the Industry
- 6. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
- 6.1 Drivers
- 6.1.1 Increasing Surgical Procedures
- 6.1.2 Advancement in Technology
- 6.2 Restraints
- 6.2.1 Reimbursement Policies not Favoring Surgical Sealants and Adhesives
- 6.2.2 Availability of Alternative Methods
- 6.3 Opportunities
- 6.4 Key Challenges
- 7. Market Segmentation
- 7.1 By Products
- 7.1.1 Natural or Biological Sealants and Adhesives
- 126.96.36.199 Fibrin Sealant
- 188.8.131.52 Gelatin-based Adhesives
- 184.108.40.206 Collagen-based Adhesive
- 7.1.2 Synthetic and Semi-synthetic Adhesives
- 220.127.116.11 Cyanoacrylates
- 18.104.22.168 Polymeric Hydrogels
- 22.214.171.124 Polyethylene Glycol Polymer
- 126.96.36.199 Others
- 7.2 By Origin
- 7.2.1 Human Blood-based
- 7.2.2 Animal-based
- 7.3 By Application
- 7.3.1 General Surgery
- 7.3.2 Dental Surgery
- 7.3.3 Cardiovascular Surgery
- 7.3.4 Cosmetic Surgery
- 7.3.5 Neuro-surgery
- 7.3.6 Orthopaedic Surgery
- 7.3.7 Others
- 7.4 By Geography
- 7.4.1 North America
- 188.8.131.52 United States
- 184.108.40.206 Canada
- 220.127.116.11 Mexico
- 7.4.2 Europe
- 18.104.22.168 France
- 22.214.171.124 Germany
- 126.96.36.199 United Kingdom
- 188.8.131.52 Italy
- 184.108.40.206 Spain
- 220.127.116.11 Rest of Europe
- 7.4.3 Asia-Pacific
- 18.104.22.168 China
- 22.214.171.124 Japan
- 126.96.36.199 India
- 188.8.131.52 Australia & New Zealand
- 184.108.40.206 South Korea
- 220.127.116.11 Rest of Asia-Pacific
- 7.4.4 Middle East & Africa
- 18.104.22.168 GCC
- 22.214.171.124 South Africa
- 126.96.36.199 Rest of the Middle East & Africa
- 7.4.5 South America
- 188.8.131.52 Brazil
- 184.108.40.206 Argentina
- 220.127.116.11 Rest of South America
- 8. Competitive Landscape
- 8.1 Mergers & Acquisition Analysis
- 8.2 Agreements, Collaborations, and Partnerships
- 8.3 New Products Launches
- 9. Key Players
- 9.1 B. Braun Melsungen AG
- 9.2 Baxter International Inc.
- 9.3 C.R. Bard Inc.
- 9.4 Cohera Medical Inc.
- 9.5 CryoLife
- 9.6 Johnson & Johnson
- 9.7 Medtronic
- 9.8 Ocular Therapeutix
- 9.9 Sanofi S.A.
- 9.10 Vivostat A/S
- *List not Exhaustive
- 10. Future of the Market
- 11. Disclaimer