Fibrin Sealants Market:
Introduction
According to the report, the global fibrin sealants market was
valued over US$ 900 Mn in 2020 and
is projected to expand at a CAGR of ~7% from 2021 to 2031.
Increase in number of patients with chronic diseases, rise in trauma cases, and
surge in geriatric population are anticipated to drive the global fibrin
sealants market from 2021 to 2031. North
America is expected to account for a significant share of the global fibrin
sealants market during the forecast period. Rise in prevalence of
cardiovascular, orthopedic, and other chronic diseases is likely to propel the
segment. According to the Centers for Disease Control and Prevention,
around 18.2 million
adults aged 20 and older are diagnosed with CAD in the U.S. each year. The
market in Asia Pacific is projected to expand at a high CAGR from 2021 to 2031.
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Increase in Number of Surgeries to
Propel Global Market
Surge in awareness and rise in literacy rates have driven the rate
of adoption of advanced products. This is anticipated to propel the global
market. Moreover, governments and private sector organizations are engaged in
spreading awareness about chronic diseases. This increases the number of
surgeries. Baptist Health is engaged in improving health and spreading
awareness about wound care in many U.S. states, including Kentucky and southern
Indiana, through various educational programs, screenings, and events.
According to the Harrington Hospital, around 50 million inpatient and
outpatient surgical procedures and over 100 million
surgeries are performed in the U.S. per year.
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The Wound Healing Institute Australia (WHIA) is an independent,
not-for-profit charitable institution concerned with the prevention, treatment,
and management of wounds. It offers high-quality education, training, advice,
and research in wound prevention and management.
Cardiovascular and pulmonary diseases are more prevalent among the
population. Cardiothoracic surgery has become commonplace in most developed countries
in the world. An article published in Nagoya Journal of Medical Science stated
that 55,000 cardiovascular surgeries are expected to be performed in Japan
by 2035.
Aging population leads to an increase in orthopedic patients. Around 6.6 million
orthopedic surgeries were performed in the U.S. each year. Hence, increase in
the number of surgeries is likely fuel the growth of the global market.
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High Preference for Liquid Dosage
Form
In terms of dosage form, the global fibrin sealants market has
been classified into liquid, patch, and powder. The liquid segment is projected
to dominate the global fibrin sealants market from 2021 to 2031.
High usage of liquid fibrin sealants and involvement of local players in
development of fibrin sealant products are anticipated to drive the segment
during the forecast period. For instance, Hualan Biological Engineering, Inc.
manufactures and sells Surgical Lyophilized Fibrin Sealant in China.
Increase in Cardiovascular Surgery
to Drive Global Market
Based on indication, the global fibrin sealants market has been
categorized into general surgery cardiovascular surgery, wound management,
orthopedic surgery, and others. The cardiovascular surgery segment is expected
to expand at a higher CAGR during the forecast period.
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Hospitals Key End Users of Fibrin
Sealants
In terms of end user, the global fibrin sealants market has been
divided into hospitals, ambulatory surgical centers, and others. The hospitals
segment is likely to account for a significant share of the global fibrin
sealants market by 2031. Rise in the rate of hospitalization for
chronic diseases is projected to drive the segment during the forecast period.
Competition Landscape
The report provides profiles of leading players operating in the
global fibrin sealants market. These include Baxter, Pfizer, Inc., Takeda
Pharmaceutical Company, Johnson & Johnson (Ethicon, Inc.), Grifols, S.A.,
CSL Limited, Vivostat A/S, Stryker, Hemarus, and Asahi Kasei Corporation.
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