Fibrin Sealants Market
Fibrin Sealants Market (Dosage Form: Liquid, Patch, and Powder; Indication: General Surgery, Cardiovascular Surgery, Wound Management, Orthopedic Surgery, and Others; and End User: Hospitals, Ambulatory Surgical Centers, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
Press Release :
Need of Improved Efficiency in Several Types of Surgeries Influencing Fibrin Sealants Market Growth
The growing need across the world to efficiently manage hemostasis and tissue sealing while performing surgery has had a great influence on the evolution of modern surgical procedures. A group of agents identified as surgical tissue adhesives has been extended to promote hemostasis and tissue sealing throughout surgery, and these comprise both natural and synthetic agents. Fibrin sealants are the most efficient tissue adhesives currently available in the market. They are biocompatible and biodegradable. The fibrin sealants are composed of refined, virus-inactivated human fibrinogen, human thrombin, and sometimes added elements, such as virus-inactivated human factor XIII and bovine aprotinin. These agents imitate the final steps of the physiological clotting cascade to create a fibrin clot. The increasing use of fibrin sealants in the healthcare industry is anticipated to fuel the global fibrin sealants market during the forecast period.
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Decreased Surgical Procedures Due to COVID-19 Hindered Global Demand for Fibrin Sealants
The global COVID-19 pandemic has had a significant impact on almost every industry, including the fibrin sealants market. Most of the healthcare industry shifted its focus on fighting the coronavirus outbreak, while various surgeries and diagnostic treatments were postponed, canceled, or performed in a limited amount. Surgeries performed with fibrin sealants, hemostats, or adhesion barriers have declined significantly across the world, thus hampering the growth rate of the fibrin sealants market. Businesses witnessed reduced demand for sealants with a decreasing number of surgeries. Many patients avoided operating in contagious environments fearing severe consequences. The healthcare industry suffered due to limited resources and restrictions on the global trade. Thus, it affected the growth of the fibrin sealants market.
Major market players are currently focusing on developments and innovations in the ways to conduct practices using DTC and remote operations. With the growing number of coronary artery disease across the world, the fibrin sealants market is expected to witness demand post-COVID-19. The number of these cases is anticipated to rise with the growing population and insufficient healthcare in underdeveloped countries. As the pandemic is nearing its end, companies are preparing to expand their business activities and productivity to flatten the demand curve. This might prove propitious for the global fibrin sealants market during the projected period.
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Rising Prevalence of Blood Related Disorders Drive Demand for Fibrin Sealants
Fibrin sealants are presently used in several surgical practices, including cardiovascular surgery, thoracic surgery, neurosurgery, plastic & reconstructive surgery, and dental surgery. The use of fibrin sealants has a resolute effect on surgical outcomes, such as improved time to hemostasis, decreased blood loss, and reduced complexities. The report describes the evolution of fibrin sealants, the composition of currently available products, and their use in surgical practice. Many electrosurgical instruments are available, and used for analysis and sealing vascular structures. The topical hemostatic agents, such as fibrin sealants, are used to control bleeding from surfaces or cavities that are not responsive to suturing, electrosurgery, or other functional instruments including the argon plasma coagulator. An increment in the number of surgical procedures and patients with blood-related disorders such as hemophilia is anticipated to boost the global fibrin sealants market in the upcoming future.
North America Most Likely to Dominate Fibrin Sealants Market
There is a surge in awareness about medical treatments. Combined with the rising literacy rate, there has been an increase in the adoption of new efficient surgical products, which is likely to fuel the demand in the global market. Moreover, the involvement of governments and organizations to promote information regarding chronic diseases and treatments will raise the number of patients in the upcoming future. Owing to the increasing aging population in North America, the region is expected to a hold major share of the global fibrin sealants market. The global fibrin sealants market is expected to expand at a CAGR of ~7% from 2021 to 2031.
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The global fibrin sealant market is principally driven by the increasing predominance of important surgeries and traumatic injuries. Recent improvements in technology and products have resulted in the development of biocompatible sealants, which reduce complexities and support the normal movement of tissues without any restraint on the functioning of the organs. Furthermore, North America accounted for the highest revenue share of the fibrin sealants market in 2019 and is expected to lead the regional segment during the forecast period. Advancements in hemostasis technology and rising number of chronic diseases are likely to aid in the future growth of the fibrin sealants market.
Fibrin Sealants Market: Overview
- This report analyzes the current and future prospects of the global fibrin sealants market. Increase in patient pool with different chronic diseases, rise in number of trauma cases, and surge in geriatric population are the key factors projected to fuel the growth of the global fibrin sealants market during the forecast period.
- The report provides an elaborate executive summary, which comprises a snapshot of the various segments of the global fibrin sealants market. The report also provides information and data analysis of the global fibrin sealants market about segments based on dosage form, indication, end user, and region.
- The overview section of the report provides detailed qualitative analysis of drivers and restraints affecting the global fibrin sealants market along with opportunities in the global market
- The global fibrin sealants market report includes company profiles and competitive matrix, which provide data about their businesses, product portfolios, and competitive landscape in the global fibrin sealants market
- The report includes data analysis on the global fibrin sealants market attractiveness by region and segments
- The last section of the report provides quantitative and qualitative analysis on market share of key players operating in the global fibrin sealants market. It elaborates on the key competitive strategies adopted by the major industry players, thereby presenting a thorough understanding of the competitive scenario in the global fibrin sealants market.
Fibrin Sealants Market: Key Segments
- In terms of dosage form, the global fibrin sealants market has been classified into liquid, patch, and powder. The liquid segment held major share of the global fibrin sealants market in 2020.
- Based on indication, the global fibrin sealants market has been categorized into general surgery cardiovascular surgery, wound management, orthopedic surgery, and others
- In terms of end user, the global fibrin sealants market has been divided into hospitals, ambulatory surgical centers, and others. The hospitals segment is anticipated to lead the global fibrin sealants market during the forecast period.
- The market size and forecast for each of these segments have been provided from 2017 to 2031. The CAGR of respective segment has also been provided for the forecast period from 2021 to 2031, considering 2020 as the base year.
Fibrin Sealants Market: Regional Outlook
- In terms of region, the global fibrin sealants market has been segmented into North America (U.S. and Canada), Europe (U.K., Germany, Spain, Italy, France, and Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC Countries, South Africa, and Rest of Middle East & Africa)
- The report provides market size and forecast for each region and country/sub-region from 2017 to 2031. Compound annual growth rate (CAGR) of each of these regions and countries have also been provided for the forecast period from 2021 to 2031, considering 2020 as the base year. The fibrin sealants market study also covers the competitive scenario in these regions.
Companies Mentioned in Report
- Key players in the global fibrin sealants market have been profiled based on key aspects such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
- Major companies profiled in the global fibrin sealants market report are
- Pfizer, Inc.
- Takeda Pharmaceutical Company
- Johnson & Johnson (Ethicon, Inc.)
- Grifols, S.A.
- CSL Limited
- Vivostat A/S
- Asahi Kasei Corporation
Fibrin Sealants Market – Scope of Report
TMR’s report on the fibrin sealants market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2021 to 2031. The report provides the overall revenue of the global fibrin sealants market for the period 2017–2031, considering 2020 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR) of the global fibrin sealants market for the forecast period of 2021–2031.
The report has been prepared after an extensive research. Primary research involved bulk of the research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global fibrin sealants market.
Secondary research included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various phenomena in the global fibrin sealants market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments in the scope of the study. Moreover, the report sheds light on the changing competitive dynamics in the fibrin sealants market. These indices serve as valuable tools for existing market players as well as for entities interested in participating in the fibrin sealants market.
The report also delves into the competition landscape of the global fibrin sealants market. Key players operating in the global fibrin sealants market have been identified and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the fibrin sealants market profiled in this report.
Key Questions Answered in Fibrin Sealants Market Report
- How does the development of fibrin sealants provide scope of growth in the global fibrin sealants market?
- How alliances and partnerships between players are widening the scope of new line of technologies for fibrin sealants?
- What are the revenue share projections of key segments under various criteria in the fibrin sealants market during the forecast period?
- Which segment is likely to register highest revenue by the end of the forecast period in 2031?
- How is the evolving healthcare system in developing countries in Asia Pacific making an impact on the overall fibrin sealants market?
Fibrin Sealants Market – Research Objectives and Research Approach
The comprehensive report on the global fibrin sealants market begins with an overview of the market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study and healthcare compliances laid down by accredited agencies in the purview of line of procedure for fibrin sealants.
For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into smaller ones. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.
The report analyzes the global fibrin sealants market in terms of dosage form, indication, end user, and region. Key segments under each criteria are studied at length, and the market share for each of these at the end of 2031 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global fibrin sealants market.
Fibrin Sealants Market – Segmentation