LONDON--(BUSINESS WIRE)--The global fibrin sealants market 2019-2023 is expected to post a CAGR of more than 8% during the forecast period, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing number of surgical procedures. The increase in chronic conditions led to the rise in the number of surgical procedures. The presence of MI surgeries, which are less painful, is allowing people to get back to normal life faster than traditional surgical procedures. Fibrin sealants are used in many surgical procedures such as cardiovascular surgery, thoracic surgery, hip replacement surgery, appendectomy surgery, neurosurgery, plastic and reconstructive surgery, and dental surgery.
This market research report on the global fibrin sealants market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the adoption of minimally invasive and robotic surgeries as one of the key emerging trends in the global fibrin sealants market:
Global fibrin sealants market: Adoption of minimally invasive and robotic surgeries
MI surgeries are performed with a reduced size of surgical incision compared with open surgeries. These surgeries are increasing owing to the benefits such as less pain and discomfort, low chances of infection and bleeding, shorter hospital stay, no or smaller scars, and quick recovery. These surgeries include laparoscopic surgery, thoracoscopic surgery, and orthopedic surgery.
“Robotic-assistance aid in performing MI surgeries with higher precision. Surgeons control the robotic arms by using a console. Arms of the robots are equipped with a special camera and surgical equipment, which displays images of the surgical site. The advantages of the robotic system such as magnified 3D vision and increased range of movement in the body are aiding in their adoption.,” says a senior analyst at Technavio for research on orthopedics and medical devices.
Global fibrin sealants market: Segmentation analysis
This market research report segments the global fibrin sealants market by product (patches and liquid) and geographical regions (APAC, EMEA, and the Americas).
Among the major product segments, including patches and liquid segment, the patches segment accounted for maximum share in the market of around 50%. The growth of the segment can be due to the growing awareness about fibrin sealant patches, which can be easily combined with manual pressure to arrest bleeding, which, in turn, provides efficacy to the process.
The Americas led the market in 2018 with a market share of 45%, followed by APAC and EMEA respectively. The region is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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