Yahoo Finance Surgical Sealants And Adhesives Global Market Report 2023
Major players in the surgical sealants and adhesives market are Baxter International Inc., B. Braun Melsungen AG, Cohera Medical, Inc., CryoLife Inc., C.R. Bard Inc., CSL Limited (CSL Behring), Johnson & Johnson (Ethicon, Inc.
New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Surgical Sealants And Adhesives Global Market Report 2023" - https://www.reportlinker.com/p06280855/?utm_source=GNW
), Sanofi, Ocular Therapeutix Inc., and Sealantis Ltd.
The global surgical sealants and adhesives market is expected to grow from $2.12 billion in 2021 to $2.39 billion in 2022 at a compound annual growth rate (CAGR) of 13.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The surgical sealants and adhesives market is expected to grow to $3.13 billion in 2026 at a CAGR of 6.9%.
The patient handling equipment market consists of sales of fibrin sealants, collagen based adhesives, gelatin based adhesives, cyanoacrylates, polymeric hydrogels, and urethane based adhesives.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Surgical sealants and adhesives are materials used to repair injured tissues and prevent air and fluid leakages during or after the surgeries. These are used for minimizing blood losses, replacing staples and sutures for better closure, and strengthening wound areas without limiting tissue movement.
North America was the largest region in the surgical sealants and adhesives market in 2022.Western Europe was the second largest region in the surgical sealants and adhesives market.
The regions covered in the surgical sealants and adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The surgical sealants and adhesives market covered in this report is segmented by product into biological sealants, synthetic sealants, and semi-synthetic sealants. The biological sealants are made up of biological material that is used to repair injured tissues and prevent air and fluid leakages during or after the surgeries These are used for various indications such as tissue sealing, tissue engineering, and hemostasis that are used by end-uses such as hospitals, clinics, and others.
The rising number of surgical procedures is predicted to contribute to the growth of the surgical sealants and adhesives market.In recent years, the continuous surge in surgical procedures is registered attributing to the growing prevalence of obesity and other lifestyle diseases, increasing incidence of spinal and sports-related injuries, and rising geriatric population.
The old-age population is more prone to chronic, heart, and other diseases, thereby undergoing surgical procedures. According to the World Health Organization, the number of people over the age of 65 is projected to increase from 1 billion in 2020 to 2.1 billion by 2050, globally.
The advances in surgical procedures are anticipated to hinder the growth of the surgical sealants and adhesives market.Minimal invasive surgeries are replacing conventional surgical procedures, eliminating complications including bleeding and air leakage and therefore, limiting the use of any surgical sealants and adhesives.
According to the American Society of Plastic Surgeons (ASPS), approximately 18 million people undergoing surgical and minimally invasive cosmetic procedures in the USA. Hence, the growing number of minimally invasive surgeries and other substitutes for conventional surgical processes is predicted to impact the growth of the market over the forthcoming years.
Several companies operating in the market are focusing on product portfolio expansion into untapped geographies.For instance, in January 2020, Terumo Corporation announced the launch of AQUABRID, a new surgical sealant in the EMEA market.
AQUABRID is specially developed for aortic procedures to stop bleeding during and post surgeries. The company earlier introduced this product in Japan under the brand name Hydrofit and is under the process of registration in Eastern Europe, the Middle East, and Africa.
In December 2021, Becton, Dickinson and Company, a US-based medical technology company, acquired Tissuemed, Ltd for an undisclosed amount.The acquisition would complete BD’s core portfolio and enable BD to further strengthen the surgical sealants portfolio.
Tissuemed is a England-based surgical sealants manufacturer.
The countries covered in the surgical sealants and adhesives report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The surgical sealants and adhesives market research report is one of a series of new reports that provides surgical sealants and adhesives market statistics, including surgical sealants and adhesives industry global market size, regional shares, competitors with a surgical sealants and adhesives market share, detailed surgical sealants and adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the surgical sealants and adhesives industry. This surgical sealants and adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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