PUNE, India, March 3, 2017 /PRNewswire/ --
According to a new market research report "Surgical Sealants and Adhesives Market by Product (Natural & Synthetic, Fibrin, Collagen, Gelatin, Cyanoacrylate, Albumin, Human blood), Indication (Hemostasis, Tissue Sealing), Application (CNS, Cardiovascular, Cosmetic Surgery) - Global Forecast to 2021", published by MarketsandMarkets, the market witnessed a healthy growth rate during the last decade and is expected to grow at a CAGR of 9.6% between 2016 and 2021 to reach 2.96 Billion by 2021.
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The growth in this market is majorly attributed to factors such as increasing need to manage blood loss in patients, growing rate of surgeries being performed annually, greater uptake of technologically advanced products, and increasing FDA and CE Mark approvals. Moreover, factors like rising geriatric population, increasing prevalence and incidence of chronic disorders, and increasing trauma and accident cases are driving the adoption of these sealants and adhesives.
The Surgical Sealants and Adhesives Market is segmented on the basis of product, indication, application, and region. On the basis of product, the market is segmented into natural/biological sealants and adhesives and synthetic & semi-synthetic sealants and adhesives. The natural/biological sealants and adhesives segment is further divided on the basis of type and origin.
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On the basis of type, natural/biological sealants have been segmented into polypeptide/protein-based and polysaccharide-based sealants and adhesives. The polypeptide/protein-based sealants segment consists of fibrin, gelatin, collagen, and albumin-based adhesives, while the polysaccharide-based sealants segment comprises of chitosan-based and other polysaccharide-based adhesives. On the basis of origin, the natural/biological sealants and adhesives segment have been categorized into human blood and animal-based adhesives. The synthetic and semi-synthetic sealants and adhesives have been segmented into cyanoacrylates, polyethylene glycol hydrogels, urethane-based adhesives, and other synthetic adhesives.
On the basis of indication, the Surgical Sealants and Adhesives Market has been segmented into surgical hemostasis, tissue sealing, and tissue engineering. Based on application, the market is segmented into CNS, general, cardiovascular, orthopedic, cosmetic, urological, pulmonary, ophthalmic surgeries, and other applications.
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In 2016, North America is expected to account for the largest share of the market. The largest share of this regional segment is driven by rising healthcare expenditure, the presence of many large and well-equipped hospitals, greater uptake of technologically advanced medical products, increasing FDA approvals for surgical sealants, and the presence of major market players in this region. However, the market in the Asia-Pacific region is expected to grow at the highest CAGR, owing to growing per capita income, increasing medical tourism, the presence of less stringent regulations, and growing demand for quality healthcare. In addition, increasing investments by major players in this region is propelling the market further.
Baxter International, Inc. (U.S.), Johnson & Johnson (Ethicon, Inc.; U.S.), CryoLife, Inc. (U.S.), and C.R. Bard, Inc. (U.S.) held the major share of the Surgical Sealants and Adhesives Market and will continue to dominate the market between 2016 and 2021.
Some of the major players operating in this market are Medtronic plc (U.S.), Sanofi Group (France), B. Braun Melsungen AG (Germany), Cohera Medical, Inc. (U.S.), Ocular Therapuetix, Inc. (U.S.), Vivostat A/S (Denmark), and Sealantis Ltd. (Israel).
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