Market Highlights:The Global Surgical Sealants and Adhesives Market is anticipated to have held a market value of USD 2.12 billion in the year 2017 and is expected to grow at a CAGR of 9.3% during the forecast period.
Growing prevalence and incidence of various disorders, growth in the number of accidents, and growth in the number of surgeries are expected to drive the growth of market. According to the Centers for Disease Control and Prevention (CDC), each year around 630,000 Americans die from heart disease. On other hand, lack of reimbursements policy; and extensive clinical data requirements for launching products can restrain the market growth over the assessment period.
Regional Analysis:Geographically, the Americas is expected to dominate the global surgical sealants and adhesives market owing to the presence of well-developed healthcare sector, growing prevalence and incidence of various disorders, growth in the number of accidents, and growth in the number of surgeries. Europe is expected to hold the second largest position in the global surgical sealants and adhesives market owing to the growing prevalence of chronic diseases coupled with increasing adoption of new technologies. Asia-Pacific is expected to be the fastest growing market owing to the large population base of the diabetic patients and increasing developments in healthcare segment. Furthermore, the Middle East and Africa region is expected to account for the least market share in the global surgical sealants and adhesives market.
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Segmentation:The Global Surgical Sealants and Adhesives Market has been segmented into product, indication, and application.
Based on product, the surgical sealants and adhesives market is segmented into natural/biological sealants and adhesives; and synthetic and semisynthetic sealants and adhesives. The natural/biological sealants and adhesives segment is expected to account for the largest share and fastest growing segment of the global market in 2017. the natural/biological sealants and adhesives segment further sub segmented in to polypeptide/protein-based sealants and adhesives; and polysaccharide-based sealants and adhesives. Whereas, synthetic and semi-synthetic sealants and adhesives further segmented in to cyanoacrylates, polyethylene glycol hydrogels, urethane based, and others.
Based on indication, the surgical sealants and adhesives market is segmented into surgical hemostasis, tissue sealing, and tissue engineering.
Based on application, the surgical sealants and adhesives market is segmented into general surgeries, cardiovascular surgeries, central nervous system surgeries, orthopedic surgeries, urological surgeries, and others.
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Some of the prominent players in the global surgical sealants and adhesives market are C. R. Bard, Inc. (US), Johnson & Johnson (UK), Baxter International, Inc. (US), Medtronic plc (US), B. Braun Melsungen AG (Germany), Cohera Medical, Inc. (US), Sanofi Group (France), Sealantis, Ltd (Israel), Vivostat A/S (Denmark), and Ocular Therapuetix, Inc. (US)