According to the current analysis of Reports and Data, the global Surgical Sealants market was valued at USD 1,984.4 Million in 2020 and is expected to reach USD 3,614.2 Million by 2028, at a CAGR of 7.70%. The study covers different types of natural and synthetic sealants and adhesives used in surgical procedures. The rise in the number of surgical procedures across the world is due to various reasons such as, the increase in the diseases which potential risks to the human. Also, the number of accidents has increased across the world. The development initiatives conducted by the government particular regions also pave ways to the new healthcare systems. The medical practices have been advanced and surgical procedures involve sealants and adhesives which is the increasing choice around the world as these helps in the ease of the complex surgical practices. As the medical practices and healthcare systems are advancing the need for more research and development activities also becomes necessary and therefore, the government in many countries took initiatives and increase the funding’s towards the healthcare system. With the increase in population, the need for better and advanced medical procedures will also increase. Therefore, considering these driving factors the Surgical Sealants market will witness potential growth in the future.
Factors such as the elevated price of surgical procedures as well as machinery and tools will hamper the market growth of the business for Surgical Sealants. Also, absence of knowledge of the society's latest surgical procedures will also hamper the development of Surgical Sealants on the market.
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Further key findings from the report suggest
- Surgical Sealants market is growing at a CAGR of 9% in Asia Pacific followed by North America and Europe, with 9.7% and 9.6% CAGR, respectively. Increasing number of surgical procedure across the globe is the key factor to accelerate the market growth during forecast period across all regions
- As of 2018, Central nervous system is the dominating Surgical Sealants application which holds 29% of the global market. North America market is the chief revenue generating source for this product segment, followed by Asia-Pacific and Europe regions
- Hospitals end use segment is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 10.0%. However, availability of expert surgeons are major challenge for the market growth of this market segment
- Other Applications segment (that includes Pulmonary, Urology, Ophthalmology, Cosmetics) was valued at USD 293.5 million and is expected reach USD 617.25 million by 2026
- North America region is expected to account for the 31% of the global Surgical Sealants market. The quick pace advancements in the surgical procedures and availability of professional surgeons will helps witness the market growth in the region.
- The risks associated with the surgeries such as infection of wound or bleeding and the complex procedures in some surgical procedures may hinder the market growth during the forecast period.
Competitive Outlook of the Global Surgical Sealants Market
The globla Surgical Sealants market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Surgical Sealants market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.
Top Companies Profiled in the Report:
CryoLife, Inc., B. Braun Melsungen AG, Integra Lifesciences Holdings Corporation, Ethicon Inc., Baxter International, Inc., C. R. Bard, Inc., Medtronic PLC, Johnson Johnson, Cohera Medical, and Sanofi Group.
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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.
Surgical Sealants Market Segmentation:
By Type (Revenue in USD Million; Volume in Tons, 2018–2028)
- Fibrin
- Collagen Based
- Cyanoacrylates
- Polymeric Hydrogels
- Others
By Applications (Revenue in USD Million; Volume in Tons, 2018–2028)
- Central Nervous System
- Orthopedic
- Cardiovascular
- General Surgery
- Other Applications
Geographic Segment Covered in the Report:
The Surgical Sealants report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
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