According to the latest market report published by Persistence Market Research, titled ‘Global Surgical Hemostats, Internal Tissue Sealants and Adhesion Barriers Market: Industry Analysis and Forecast (2017-2025)’, the global surgical hemostats, internal tissue sealants and adhesion barriers market is expected to expand at a CAGR of 8.9% during the forecast period 2017–2025, crossing a value beyond US$ 6.2 Bn by 2025 end.
The market is classified based on product type, application, and end user. On the basis of product type, the market has been segmented into hemostats, adhesion barriers, and internal tissue sealants. Hemostats is expected to remain the largest segment, registering a moderate CAGR of 7.4% in terms of value, over the forecast period. Wider application in various surgical conditions and easier availability is expected to contribute to its growing popularity. The hemostats product segment is expected to reach a market value of US$ 2,365.1 Mn by 2025 end. Adhesion barriers and internal tissue sealants are also expected to emerge as popular product types among both patients and physicians, globally, over the forecast period.
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On the basis of region, the market has been segmented into North America, Latin America, Europe, Asia Pacific, and the MEA. North America dominated the surgical hemostats, internal tissue sealants and adhesion barriers market with maximum value share of the overall market by end of 2017 and is estimated to expand at a CAGR of 9.9% through to 2025. Presence of key regional players, strong distribution network, and developed healthcare infrastructure are the key factors driving the growth of the market in North America.
Rising incidence of chronic diseases, bone infection, product line extensions from manufacturers, increasing innovation, concern about patient safety among clinicians and development of new surgical hemostats, internal tissue sealants and adhesion barriers with innovative technology offering high strength capability to optimize maximum pressure coupled with minimally invasive surgeries and 3D printing technology are major factors driving growth of the global surgical hemostats, internal tissue sealants and adhesion barriers market currently. Other prominent factors driving the market growth are increasing awareness regarding new surgical adhesives and applications for blood loss management among physicians and patients, and rising incidence of hip/knee fractures, trauma/accidents, and bone injuries coupled with expanding growth in healthcare infrastructure in developing economies.
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Surgical hemostats, internal tissue sealants and adhesion barriers manufacturers in the global market are focusing on introducing differential products with enhanced safety and application to increase market share. Furthermore, adoption of traditional treatment methods, product recalls and less applications offered in few tissue adhesives from the top players are expected to hamper the growth of this market. Some key companies covered in this report include Pfizer, Sanofi S.A., Cryolife, Baxter International Inc., Braun Melsungen AG, Johnson and Johnson, Cohera Medical, Inc., Tissuemed Ltd., C.R. Bard Inc., and Integra LifeSciences Corporation. These companies are primarily focusing on enhancing their market share through entering new markets and on introduction of innovative and cost-effective hip implants in order to gain higher market share and to strengthen their respective position in the global market.