DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Surgical Sealants and Adhesives Market - Global Forecast to 2021" report to their offering.
The global surgical sealants and adhesives market is estimated to grow at a CAGR of 9.6% from 2016 to 2021, to reach USD 2.96 billion by 2021 from USD 1.87 billion in 2016.
The growth of this market is mainly attributed to the rising need to manage blood loss in patients, growth in the number of surgeries, rising geriatric population, increasing incidence of trauma, growth in the number of accidents, and growing prevalence & incidence of various disorders such as obesity and CVDs. In addition, the greater uptake of technologically advanced products and growing adoption of surgical sealants and adhesives in the U.S. and Europe (owing to FDA and CE Mark approvals) are responsible for driving the overall growth of this market. Untapped emerging markets such as China and India offer significant growth opportunities.
In this report, the surgical sealants and adhesives market is segmented on the basis of product, indication, application, and region.
Asia-Pacific is expected to witness the highest growth rate during the forecast period. Factors such as the growing focus of key market players on emerging APAC countries, rising demand for surgical interventions, and rising number of cosmetic surgeries in this region are driving the growth of this market. Moreover, the growing rate of adoption of advanced medical products owing to rising demand for quality healthcare in this region is aiding the market growth.
Key Market Drivers
- Growing Need to Manage Blood Loss in Patients
- Rising Number of Surgical Procedures Across the Globe
- Greater Uptake of Technologically Advanced Products
- FDA and CE Mark Approvals Driving the Adoption of Surgical Sealants and Adhesives
Key Market Restraints
- Lack of Reimbursements for Surgical Sealants and Adhesives
- High Costs and Extensive Clinical Data Requirements for Launching New Products
Key Market Opportunities
- Improving Healthcare Systems in Emerging Markets
- Development of Novel Biomaterials With High Mechanical Properties and Adhesion Strength
- Need for Skilled Personnel for the Effective Use of Surgical Sealants and Adhesives
- B. Braun Melsungen AG
- Baxter International Inc.
- C.R. Bard Inc.
- Cohera Medical Inc.
- CryoLife Inc.
- Johnson & Johnson (Ethicon, Inc.)
- Medtronic Plc
- Ocular Therapeutix Inc.
- Sanofi Group
- Sealantis Ltd.
- Vivostat A/S
For more information about this report visit http://www.researchandmarkets.com/research/729phj/surgical_sealants.