Hemostasis And Tissue Sealing Agents Market is Expected to Reach $4.29 bn by 2026
The Hemostasis and Tissue Sealants Market was valued at US $2.12 billion in the year 2018 and is estimated to reach US $4.29 billion by 2026, at a CAGR of 9.21%.
Tissue sealants are glue-like substances used to bind the tissue after a surgical procedure or after an injury to prevent excessive blood loss. Hemostasis is the principal clotting mechanism. Nevertheless, in case of major injuries or trauma, tissue sealants characteristically help in sealing the wounds aiding hemostasis to stop blood loss. Tissue sealants have long contributed to minimizing blood loss, surgical duration, flexibility, quicker healing, minimal rejection rate and also useful in anticoagulated patients. In recent times, the number of sports injuries, cardiac surgeries, trauma cases, etc. have upsurged and are contributing to the growth of the tissue sealants market. According to the world health organization (WHO), the mortality rate attributed to accidents is about 1.24 million, every year while individuals sustaining non-fatal injuries account for around 30-50 million. Thus, a demand for blood loss management is on the rise. Besides, increasing injury-prone geriatric and diabetic populations are also considered as major market drivers to the tissue sealants market.
Fibrin sealants consisting of a combination of fibrinogen and thrombin component are known to form cross-linkages to coagulate the blood arresting the blood loss within five minutes in more than 90% of the cases. These fibrin sealants are mostly used in cardiovascular surgeries and it is expected that more than 450000 cardiovascular surgeries will be carried out in the US alone by the year 2021. Thus, the fibrin sealant segment is expected to dominate the tissue sealant market for at least 3-4 years during the forecast period and its application in cardiovascular surgeries is expected to lead the market share.
North American region consisting of excellent healthcare infrastructure, exposure to various advanced technologies, access to healthcare, govt. policies etc. is expected to contribute primarily to the growth of the market during the forecast period. The Asia Pacific with an emancipating growth in the population, injuries, eye, cardiovascular and other major surgical cases are expected to witness lucrative growth during the forecast period. Especially, India and China, witnessing rapid transformation in the healthcare infrastructure and policies are anticipated to contribute to the market growth. Latin America due to the cost-effect surgical procedure is gaining limelight and is also boosting the tissue sealants market. Nonetheless, the rising cost of tissue sealant products had decreased the affordability ratio and reimbursement policies in Asia Pacific and Latin American countries is creating a challenge for the tissue sealants market.
In the present study, we have segmented the market by Products (Natural/Biological Sealants and Adhesives and Synthetic and Semi-synthetic Sealants and Adhesives), Indication (Surgical hemostasis, Tissue Sealing and Tissue Engineering), Application (General surgery, CNS surgery, cardiothoracic surgery, orthopedic surgery, cosmetic surgery, urological surgery, pulmonary surgery, ophthalmic surgery, others) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa)
Major companies focused in this report are Baxter International, Braun Melsungen AG, CryoLife, Medtronic, Cohesion Technologies, C. R. Bard, Genzyme Corporation, Integra LifeSciences Corporation, Vivostat A/S, Sealantis, Ltd and Johnson & Johnson, Stryker Corporation, Smith & Nephew plc and many more…
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- Provides a detailed Analysis of the Market Structure along with forecast of the various segments and sub-segments.
- Provides a Comparative Analysis of Key Marketed and Pipeline Products.
- Provides Key Information on Players involved.
- Provides a Complete Overview of Market Segments and the Regional Outlook.
- Provides In-depth Coverage of Key News, including Major Mergers, Acquisitions and Product Development updates such as clinical trial progression updates and regulatory updates.
The Report Provides Key Insights on
- History of the Hemostasis and Tissue Sealants Market, 2015 to 2017
- Forecast of the Hemostasis and Tissue Sealants Market till the year 2026
- The key market drivers, restraints, challenges, future opportunities and the market dynamics driving the Hemostasis and Tissue Sealants Market
- Analysis of potential growth segments which will drive the market
- Landscape analysis of the major companies, and new market entrants and companies which possess disruptive technologies which can change the trend of the entire market
- Key market approaches adopted by the organizations and in-depth intelligence of potential strategies which could alter the market dynamics
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