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Surgical Sealants and Adhesives Market Overview
The global surgical sealants and adhesives market size is forecast to witness significant growth in the coming years, because of advancements in technology, increase in the research and development (R&D) activities by the industry players as well academic institutions and the government, geriatric population, volume of surgeries, incidence of chronic and lifestyle-associated diseases, healthcare spending, and the need to mitigate blood loss during medical procedures.
There are two types of products available for purchase — natural or biological and synthetic. Of these, natural or biological variants occupy the larger surgical sealants and adhesives market share, as their extracellular matrix structure is more intact, which results in a better formation of the natural epidermis required to replace the tissue damaged during surgery. Further, as they are re-absorbable, which results in a lesser probability of bacterial infections, they are preferred for closing surgical incisions as well as during plastic or reconstructive surgery. Such products are of several kinds, such as collagen-based adhesives, fibrin sealants, and gelatin-based adhesives.
Such products are used in cardiovascular, central nervous system, urological, cosmetic, ophthalmic, general, orthopedic, and pulmonary surgeries and various other procedures. Among these, central nervous system surgeries dominate the global surgical sealants and adhesives market, as such materials are most widely utilized in operational procedures on the brain and spine. In the coming years, considerable progress is expected to be witnessed by the cardiovascular surgery application, owing to the rising prevalence of associated diseases, which, according to the World Health Organization, lead to 17.9 million deaths, annually.
North America is currently the largest surgical sealants and adhesives market, primarily due to the rise in the number of products getting approvals from the Food and Drug Administration (FDA), advanced healthcare infrastructure, increasing population of the elderly, growing volume of surgeries, and expanding usage of such products. Asia-Pacific (APAC) is projected to witness the highest CAGR, due to the increasing healthcare expenditure, patient pool in hospitals, cases of chronic diseases, and government support. Additionally, the rising awareness of the regional populace about such products as well as betterment in the healthcare infrastructure are also driving the industry prosperity in APAC.
Surgical Sealants and Adhesives Market Dynamics
One of the major surgical sealants and adhesives market drivers is the shift from traditional wound sealing methods to newer ones. Conventional products used to manage wounds and incisions, such as sutures and staplers, can result in leakage of bodily fluids and in surgical marks. Adhesives and sealants, particularly those derived from natural sources, do away with the requirement for staplers and sutures, by bonding to the tissue and effectively stopping the leakage of blood and other fluids. Additionally, such alternatives are also safe and long lasting, which further drives their adoption over traditional products during and after surgeries.
The increasing prevalence of chronic diseases, among which cancer, heart diseases, and diabetes are the most common, is another significant reason behind the surgical sealants and adhesives market growth, as these require surgeries. For instance, as per the Centers for Disease Control and Prevention, every year, the U.S. records 1.6 million new cases of cancer, a disease which kills 600,000 in the country every twelvemonth. Similarly, 859,000 people in the nation fall prey to heart issues, every year. Smoking, poor diet, lack of physical activity, and alcohol abuse are some of the major causes of chronic diseases.
Surgical Sealants and Adhesives Market Competitive Landscape
Several global pharmaceutical firms, including Sanofi Group, Baxter International Inc., Ocular Therapeutix Inc., B. Braun Melsungen AG, Medtronic PLC, Cryolife Inc., C.R. Bard Inc., Johnson & Johnson, Vivostat A/S, and Cohera Medical Inc., offer wound closure products.
In recent years, the major surgical sealants and adhesives market players have launched new products, acquired or merged with competitors, engaged in partnerships and collaborations, or expanded their geographical presence, to stay relevant and improve their position. For instance, in 2018, PREVELEAK and RECOTHROM were acquired by Baxter to expand its portfolio of surgical sealants.