According to the current analysis of Reports and Data, the global surgical sealants & adhesives market was valued at USD 1,984.4 Million in 2020 and is expected to reach USD 3,614.2 Million by 2028, at a CAGR of 7.70%. The study covers different types of natural and synthetic sealants and adhesives used in surgical procedures. The rise in the number of surgical procedures across the world is due to various reasons such as, the increase in the diseases which potential risks to the human. Also, the number of accidents has increased across the world. The development initiatives conducted by the government particular regions also pave ways to the new healthcare systems. The medical practices have been advanced and surgical procedures involve sealants and adhesives which is the increasing choice around the world as these helps in the ease of the complex surgical practices. As the medical practices and healthcare systems are advancing the need for more research and development activities also becomes necessary and therefore, the government in many countries took initiatives and increase the funding’s towards the healthcare system. With the increase in population, the need for better and advanced medical procedures will also increase. Therefore, considering these driving factors the surgical sealants & adhesives market will witness potential growth in the future.
Factors such as the elevated price of surgical procedures as well as machinery and tools will hamper the market growth of the business for surgical sealants and adhesives. Also, absence of knowledge of the society’s latest surgical procedures will also hamper the development of surgical sealants and adhesives on the market.
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Increasing development of on-demand, digitally enabled, and seamlessly connected clinician-patient interactions to manage patient base is expected to drive pharma and healthcare market in the coming years. After the COVID-19 outbreak there has been a number of foundational shifts in the healthcare system. Some of the examples include increasing consumer involvement in health care decision-making, the rapid adoption of virtual health & other digital innovations, increasing focus on utilization of interoperable data & data analytics, and increased public-private collaborations in therapeutics and vaccine development. The increased public-private collaborations for vaccine development has arisen due to high pressure of regional governments. Health care providers, and other stakeholders have invested heavily to quickly pivot, adapt, and innovate therapeutics.
Further key findings from the report suggest
- Surgical sealants & adhesives market is growing at a CAGR of 9% in Asia Pacific followed by North America and Europe, with 9.7% and 9.6% CAGR, respectively. Increasing number of surgical procedure across the globe is the key factor to accelerate the market growth during forecast period across all regions
- As of 2018, Central nervous system is the dominating surgical sealants & adhesives application which holds 29% of the global market. North America market is the chief revenue generating source for this product segment, followed by Asia-Pacific and Europe regions
- Hospitals end use segment is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 10.0%. However, availability of expert surgeons are major challenge for the market growth of this market segment
- Other Applications segment (that includes Pulmonary, Urology, Ophthalmology, Cosmetics) was valued at USD 293.5 million and is expected reach USD 617.25 million by 2026
- North America region is expected to account for the 31% of the global surgical sealants & adhesives market. The quick pace advancements in the surgical procedures and availability of professional surgeons will helps witness the market growth in the region.
- The risks associated with the surgeries such as infection of wound or bleeding and the complex procedures in some surgical procedures may hinder the market growth during the forecast period.
- Key participants include CryoLife, Inc., B. Braun Melsungen AG, Integra Lifesciences Holdings Corporation, Ethicon Inc., Baxter International, Inc., C. R. Bard, Inc., Medtronic PLC, Johnson & Johnson, Cohera Medical, and Sanofi Group
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For the purpose of this report, Reports and Data has segmented the global surgical sealants & adhesives market on the basis of type, applications, indication, end use, and region:
By Type (Revenue in USD Million; Volume in Tons, 2018–2028)
- Collagen Based
- Polymeric Hydrogels
By Applications (Revenue in USD Million; Volume in Tons, 2018–2028)
- Central Nervous System
- General Surgery
- Other Applications
By Indication (Revenue in USD Million; Volume in Tons, 2018–2028)
- Surgical Hemostasis
- Tissue Engineering
- Tissue Sealing
By End Use (Revenue in USD Million; Volume in Tons, 2018–2028)
By Regional Outlook (Revenue in USD Million; Volume in Tons, 2018–2028)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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