The technological advancements in the healthcare industry, as well as the increase in the aged population, are influencing the market growth.
Market Size – USD 4.09 Billion in 2018, Market Growth - CAGR of 8.1%, Market Trends – Demand for Surgical Glue in the healthcare industry.
NEW YORK, May 08, 2019 (GLOBE NEWSWIRE) -- The global Surgical Glue market is expected to reach USD 7.89 Billion by 2026, according to a new report by Reports and Data. This is mainly contributed by the increase in number of accident cases. The technological advancements in the healthcare industry, as well as the increase in old aged population, will drive the growth of the market. Moreover, the adoption of surgical glue as a substitution of sutures (stitches) is another factor fueling the growth of the market.
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Some of the advantages of these adhesives include rapid wound closure, painless application, reduced risk of needle sticks, and absence of suture marks. Surgical glue (tissue adhesive or liquid stitches) are used to close both major and minor wounds, such as lacerations, incisions made during surgeries, and injuries on the face or in the groin. However, surgical glue is more expensive than sutures. Some people are even allergic to it. Moreover, the glue can’t be used on someone having an increased risk of slow wound healing, such as diabetes and other health conditions.
Further key findings from the report suggest
- The market is segmented on the basis of product into natural and synthetic.
- Synthetic glues are forecasted to witness a higher growth rate of 9.7% during the forecast period, owing to their better adhesion as well as the relatively lower price.
- The market is segmented on the basis of indication into hemostasis and tissue sealing.
- Hemostasis account for a larger market share of ~70% in the year 2018, owing to the increasing demand for fibrin glues.
- Fibrin glue is a plasma-derived topical hemostatic and adhesive agent that is becoming increasingly popular for surgical hemostasis, especially for cardiac and vascular procedures.
- The market is segmented on the basis of application type into cardiac surgery, pulmonary surgery, vascular surgery, liver and spleen lacerations, orthopedic surgery, burn bleeding, plastic surgery, wound management, neurosurgery, general surgery, and others.
- Plastic surgery is forecasted to witness the highest growth rate of 11.8% during the forecast period.
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The increase in accidental cases, surgeries after cancer (especially reconstructive breast surgeries), reconstructive surgery for birth defects or birthmarks, and cosmetic surgeries (e.g., laser hair removal, tummy tucks, butt lifts, nose jobs, boob jobs, Botox, and more), will boost the growth of the segment.
- The market is segmented on the basis of end users into hospitals, specialty clinics, ambulatory surgical centers, and others.
- Cardiac surgery accounts for the largest market share of ~78% in the year 2018, and is forecasted to witness the highest growth rate of 8.6% during the forecast period, due to the increasing number of accidents, and the prevalence of deadly diseases (such as cancer and cardiovascular diseases) as well as their ailments and surgeries.
- The market is segmented on the basis of geography by North America, Europe, Asia Pacific, Latin America, and MEA.
- The Asia Pacific region is forecasted to witness the highest growth rate of 9.3% during the forecast period owing to a developing healthcare & pharmaceutical industry in this region.
- Asia Pacific has been adopting and advancing itself in terms of technology, owing to the growing population; rise in the number of people suffering from obesity, hypertension, cancer, and other deadly diseases, as well as the need for better techniques in surgeries.
- Key participants include Braun Medical Inc, Advanced Medical Solutions Group PLC, Medtronic PLC, Baxter International Inc, CryoLife Inc, Cohera Medical Inc, Adhesys Medical GmbH, Arch Therapeutics Inc, Integra LifeSciences Holdings Corporation, and Lifebond Machines Pvt. Ltd, among others.
- The companies have adopted various strategies including mergers, acquisitions, and partnerships to hold ongoing trails and come up with new developments in the market.
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented Global Surgical Glue Market on the basis of product, indication, application type, end user, and region:
Products Outlook (Revenue, USD Billion; 2018-2026)
- Natural or Biological Adhesives and Sealants
- Fibrin Sealants
- Collagen Based Adhesives
- Gelatin-Based Adhesives
- Synthetic and Semi-Synthetic Adhesives and Sealants
- Cyanoacrylates
- Polymeric Hydrogels
- Urethane Based Adhesives
Indication Outlook (Revenue, USD Billion; 2018-2026)
- Hemostasis
- Tissue Sealing
Application type Outlook (Revenue, USD Billion; 2018-2026)
- Cardiac surgery
- Pulmonary surgery
- Vascular surgery
- Liver and spleen lacerations
- Orthopedic surgery
- Burn bleeding
- Plastic surgery
- Wound management
- Neurosurgery
- General surgery
- Others (eye, urological, gynecological surgeries)
Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2018-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
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