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Surgical Sealants and Adhesives Market Estimated to Grow at a CAGR of 8.1% During the Forecast Period 2021-2026

admin by admin
March 1, 2022
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(EMAILWIRE.COM, March 01, 2022 ) The Surgical Sealants and Adhesives market was valued at $2.1 Billion in the year 2020. The market is poised to grow at a CAGR of 8.1% over the forecast period of 2021-2026. Surgical Sealants and adhesives are of primary need post any surgery in consideration. Post any surgery, the surgeon is required to seal the operated area to prevent bleeding and contamination in form of air and water from the outer surroundings. Accidents, rising chronic ailments, and the increase of geriatric populations amongst the world population-creates a demand for the use of adhesives. A polypeptide is one of the active adhesives used because of its property to bind amino acids, which helps in making protein layers. Polysaccharide-based adhesives have promised a bright future for the adhesive industry. It is precisely used in ophthalmic surgery owing to seal the wounds around the cornea of the eye. Cyanoacrylate is a type of biodegradable adhesive offers better results post-cosmetic surgery. It polymerizes the tissues as soon as they encounter it. Infectious diseases can be controlled using cyanoacrylates, as it provides a reduction in percutaneous injuries. PEG Hydrogels are another used adhesive owing to the characteristics such as solubility, non-toxicity, and low immunogenicity. Polyethylene Glycol Polymer is another form of glue that is used post-surgery to close wounds. Owing to better inventions in the field of surgical sealants and adhesives, the industry is positioned on an optimistic path.

Surgical Sealants and Adhesives Market Segment Analysis – By Application

The Surgical Sealants and Adhesives Market can be segmented into six main subcategories- General Surgery, Dental Surgery, Cardiovascular Surgery, Cosmetic Surgery, Neurosurgery, Orthopedic Surgery, and others. General Surgery dominated the market segment in the year 2020. It is owing to the coverage of surgeries a general surgeon can provide. For example, a general surgeon can help in treating hernia, hemorrhoids, colonoscopy, breast surgery, and even assist in the removal of the appendix or the gall bladder. Of the listed operations- Hernia is accounted as one of the highly performed surgeries in the U.S. As per the statistics provided by US FDA, around 1 million people are affected by a hernia in the region. Of which 800,000 are inguinal hernias.

The segment of general surgery will continue to follow the same trajectory in the forecast period of 2021-2026 and grow at the swiftest CAGR of 8.4%. It is estimated that the cases of hernia are found in people who age above 65 or as known as Geriatric Population. As per WHO, the geriatric population is growing at a faster rate than the younger, and by 2036 the geriatric population will overtake the young population. Owing to these statistics, cases of hernias are supposed to accumulate at a swifter rate. Since most of the hernia require surgical procedures, the surgical sealants and adhesives market will get benefitted.

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Surgical Sealants and Adhesives Market Segment Analysis – By End User

The surgical sealants and adhesives market can be bifurcated based on end-users in two sub-classes- Hospitals and Clinics. Hospitals held a dominant share of the end-user segment in the year 2020. It is owing to the complexities and the emergency facilities available at a hospital. Cases of surgeries for appendicitis are only known to the patient when the pain shoots, and since the patients are unsure of the cause- they rush to their nearby hospitals to get treatment. Similar to general surgeons, cases of accidents often require surgical intervention by an orthopedic surgeon or a neurosurgeon. Wounds need to be closed, and if required further surgeries are permitted and performed.

The segment of hospitals will continue to follow the same trajectory in the forecast period of 2021-2026 and grow at a lucrative CAGR of 8.7%. The rising number of hospitals was an after-effect of the pandemic. Since most of the Asia-Pacific countries such as India, Pakistan, Nepal, and Myanmar have low hospital beds available per 1000, the government has taken reform measures to improve the condition in these regions. For example, the medical infrastructure budget allocation saw a 147% increase in the year 2020 in India. The following will fuel the development of more hospitals, which in turn will aid more surgeries, and hence the market of sealants and adhesive will flourish.

Surgical Sealants and Adhesives Market Segment Analysis – By Geography

North America held the dominant share of 35.9% in the year 2020. It is owing to robust medical infrastructure facilities available, and due to a higher government spending per person. As for 2019, the USA spent $11,582 per person. The allocation has been rising for the past decade owing to larger cases of cancer, road accidents, and lately COVID-19.

Although the Asia Pacific shows the maximum potential for growth in the coming years. It is owing to the rising disposable income in low- and middle-income countries. As per the health care index, in the top 10 countries, 5 countries belong to the Asia-Pacific region. The countries which were not present in the list, are further gaining momentum due to -better support by healthcare policy providers and infrastructure support by the governments. Like which, hernia surgery can cost $7,750 in the North American region while it only costs close to $1000 in Asia-Pacific countries. The low surgery cost will further fuel the markets for surgical adhesives and sealants in the region.

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Surgical Sealants and Adhesives Market Drivers

An increase in cases of Caesarean will need to be addressed by the use of Sealants and Adhesives

The world population is growing in an unprecedented manner. Along with this, the number of caesareans (C-Section) operations is growing. To supplement the driver, as per WHO, 1 in every 5 births which happen around the globe take place via cesarean. The numbers are to follow an upward trajectory, and nearly 29% of all births will take place via the method of cesarean. Hence an increase of 8% over the time period can be noticed. If the trends follow the same momentum, by 2030, Eastern Asia will deliver 63% of babies via C-Section, Latin America along with the Caribbean will deliver 53% of the babies via C-Section, North Africa, Southern Europe, and Oceania will contribute to around 50% of babies via C-Section. A C-Section requires the use of surgical sealants to prevent blood from oozing and causing any secondary infection.

An increase in the number of fatal road accidents needing the use of surgery will aid the growth of adhesives and surgical sealants

As per the data shared by US Transport Department, in the year 2019- the fatal car crash amounted to 33,244 who needed immediate surgery and care, and the numbers are 11% higher than in 2013. Similarly, the surgery requirement post-crash is highly prevalent in low- and middle-income countries such as India. India accounted for 4,51,361 which is 4% higher than 2014 who suffered injuries and wounds and needed immediate medical help or surgery to close the wounds. Sealants and Adhesives are used primarily in fatal road accidents as the skin gets ruptured, and the need to stop the blood from coming out of the body is required.

Surgical Sealants and Adhesives Market Challenges

Intensive Requirement for Adhesives for launching a new product is restraining the growth of the market

The underlying problem of using natural compounds such as fibrin is that they lack adhesive strength but are well accepted by the body or have high biocompatibility. Cyanoacrylate based compounds have a higher adhesive strength, but their biodegradability is on the lower end and they further release toxic byproducts while degradation which is inherently bad for the organs and the body. Hence, the market doesn’t have a product that can tick all the marks such as high mechanical properties, cost-effective and highly elastic along with biocompatibility and controlled biodegradability. For these reasons, the surgical sealants, and adhesives market growth can be hampered.

Surgical Sealants and Adhesives Market Landscape

The surgical sealants and adhesives market opts for strategies such as product developments, mergers, and acquisitions. The top 10 Companies operating in the surgical sealants and adhesives market is-

Baxter International Inc.

B. Braun Melsungen AG.

Cohera Medical Inc.

CryoLife Inc.

C.R. Bard Inc.

CSL Limited (CSL Behring).

Johnson & Johnson (Ethicon, Inc.)

Ocular Therapeutic Inc.

Sanofi.

Sealantis Ltd.

Product Launch

In January 2020, Teruma- A leading pharmaceutical company in Japan extended its market reach beyond Asia- Pacific. The product known as AQUABAIRD, is a sealant used primarily post aortic surgery. The blood loss is immense after such surgeries, and AQUABIRD can help in forming a layer with the skin as it reacts to blood in the following way.

Key Takeaways

North America held the dominant share in the market for 2020 owing to robust medical infrastructure and reimbursement facilities post operations.

COVID-19 created a dip in the demand for the adhesives market owing to low operations in the year 2020 as COVID restrictions were high- across the medical verticals.

Strength, Weaknesses, Opportunities, and Threats will be provided in our premium report.

The invention of technologies relying on biodegradable material will help the market in developing.

Related Reports:

A. Fibrin Sealants Market

https://www.industryarc.com/Report/15227/fibrin-sealant-market.html

B. Medical Adhesives Market

https://www.industryarc.com/Report/15073/medical-adhesives-market.html

For more Lifesciences and Healthcare Market reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.



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