Surgical Sealants and Adhesives Global Market estimated to be worth $3,708.5 million by 2024
Surgical sealants and adhesives are the products used in surgical procedures for closing incisions, sealing tissues internally, stop bleeding, securing implants to tissues and in post surgical applications like sealing of surgical incision leakage, to control surgical site infections and reinforcing staples or suture line. Sealants are used to attach at least two surfaces of incisioned skin or tissue by filling the space between them to provide a protective coating and to seal fluid or air leakage. Adhesives are capable of holding at least two cut ends of skin or tissue together in a strong and permanent bond. Sealants and Adhesives are usually considered together as they both adhere and seal the surgical incisions.
According to IQ4I analysis, the surgical sealants and adhesives global market is expected to grow at a strong CAGR to reach $3,708.5 million by 2024. Increasing incidence of aging population and prevalence of lifestyle diseases, increase in surgical procedural volume, and advantages of sealants and adhesives over suture, staples and clips are some of the factors driving the surgical sealants and adhesives market. Demand for surgical sealants and adhesives, emergence of technically advanced products and acquisitions by market players are some of the opportunities for surgical sealants and adhesives market. However, adverse effects of sealants and adhesives, low surgical incision closure strength, high cost of the product, advancements in alternative products like sutures, staples and stringent regulatory approvals are some of the factors hampering the market growth.
The surgical sealants and adhesives global market is mainly segmented into products, applications, end-users and geography. The surgical sealants and adhesives global market based on the nature of product is segmented into natural and synthetic surgical sealants and adhesives. Among these, natural sealant and adhesives hold a largest share in 2017 and are expected to grow at a strong CAGR from 2017 to 2024. Natural surgical sealants and adhesives market is further segmented into fibrin, collagen, gelatin, albumin and others. Among these, Fibrin holds major share and Gelatin is expected to grow at a strong CAGR from 2017 to 2024. Synthetic surgical sealants and adhesives market is segmented into Cyanoacrylate, hydrogels and others. Among these, Cyanoacrylate holds major share and is expected to grow at a high CAGR from 2017 to 2024.
Based on application, the market is segmented into Cardiovascular surgery, General Surgery, Orthopaedic surgery, Urology, Pulmonology, Neurosurgery, Gynecology, Cosmetic surgery and Others applications. The Cardiovascular surgery segment accounted for the largest revenue in 2017 and is expected to grow at a strong CAGR from 2017 to 2024, because of various reasons like increasing aging population, increase in cardiovascular surgical procedures and technological advancements in minimally invasive surgical procedures. Cosmetic surgery is the fastest segment growing at a double digit CAGR from 2017 to 2024, because of the advanced treatment regimes available and better cosmetic outcome by using sealants and adhesives.
Based on the end-users market is segmented into hospitals, ambulatory surgical centres and others. Hospital segment accounted for the largest share in 2017 and is expected to grow at a strong CAGR from 2017 to 2024, due to increase in aging population, increase in surgical procedural volumes, and better patient care services with advanced facilities.
Geographically, North America dominates with the largest share in 2017 due to high investments in healthcare infrastructures, advanced healthcare facilities, increasing ageing population, increasing surgical procedural volume, rapid adoption and awareness about the technological advancements, availability of Medicare and third party insurance facilities and easy availability of skilled professionals. However, Asia-Pacific region is expected to grow at a double digit CAGR 2017 to 2024 due to increased healthcare awareness and improved economic growth. Asia-Pacific countries like India and China are expected to be the future investment destination for companies because of government funding and their large patient populace base. Thailand and India are growing medical tourism destinations which offer significantly lower cost for surgeries and treatment compared to U.S and U.K.
Surgical sealants and adhesives global market is consolidated, the top five companies i.e. Baxter International Inc. (U.S.), Johnson & Johnson (Ethicon) (U.S.), Takeda Pharmaceutical Company Ltd. (Japan), Becton, Dickinson & Company (C.R.Bard) (U.S.), B.Braun Melsungen AG (Germany) occupy largest share in the global market and remaining share of the market is occupied by others players. Companies in this market are coming up with innovative technologies and products for entering or maintaining their leadership position in surgical sealants and adhesives market. For instance, Xcede Technologies, Inc., a subsidiary of Dynasil Corporation of America (U.S.) develops hemostatic and sealant products for surgical applications with unique technology and intellectual property (IP) protection. Also, companies are competing with each other by strategic acquisitions to expand their market. For instance, Mallinckrodt Plc, acquired the global portfolio of three commercial-stage sealants and hemostasis from The Medicines Company (U.S.). The portfolio includes RECOTHROM Thrombin topical (Recombinant), PreveLeak Surgical Sealant, and RAPLIXA (Fibrin Sealant (Human)). The inclusion of these products will expand Mallinckrodt’s surgical sealant and adhesive product portfolio.
Emerging players of this market include Adhezion Biomedical, LLC. (U.S.), Starch Medical, Inc. (U.S.), Vivostat A/S (Denmark), Tissuemed Ltd. (U.K.), Western Biomedical (Australia), GEM SRL (Italy), Hyperbranch Medical Technology, Inc. (U.S.), Gecko Biomedical (France), Hyperbranch Medical Technology, Inc. (U.S.), Chemence Medical, Inc. (U.S.), IBC Pharmaceuticals Ltd. (India), Sealantis Ltd (Israel), Polyganics (Netherland), OptMed, Inc. (U.S.), and others.
Some of the major players in surgical sealants and adhesives market include Baxter International Inc. (U.S.), Johnson & Johnson (Ethicon) (U.S.), Becton, Dickinson & Company (C.R.Bard) (U.S.), B.Braun Melsungen AG (Germany), Medtronic Plc (Ireland), Cryolife, Inc. (U.S.), Mallinckrodt Plc (U.K.), Advanced Medical Solutions Group Plc (U.K.), Takeda Pharmaceutical Company Ltd. (Japan), Cohera Medical, Inc. (U.S.).