The surgical sealant and adhesives market was valued at USD 2,250 million in 2020, and it is expected to reach USD 3,345 million by 2026, registering a CAGR of 6.8% during the forecast period.
The pandemic had ramifications for ways of working of various surgical procedures. There are strict guidelines specific to each specialty that must be implemented and followed for surgeons to continue to provide safe and effective care to their patients during the COVID-19 pandemic. The volume of surgeries has significantly declined during the pandemic, owing to the stringent guidelines by the regulatory authorities to avoid all non-emergent surgeries, impacting the procurement of surgical sealants and adhesives in surgical centers.
Sealants and adhesives are an integral part of any surgery. They play a vital role in surgeries as they help the tissues to heal. Due to the rising prevalence of chronic diseases, surgeries have increased as most of the chronic diseases in later stages demand surgeries. As per Dementia Australia, more than 459,000 Australians were living with dementia in 2020, and about 1.6 million were involved in their center for care. It is estimated that the number of people with dementia is expected to reach 1.1 million by 2058, and dementia will become the second-leading cause of death in the country in the next five years.
According to the Organization for Economic Cooperation and Development (OECD), in 2018, there were around 1,208,176 and 146,148 Caesarean cases performed in the United States and Italy, respectively. An increase in the number of surgeries has also boosted the product development and the launch of innovative and technologically advanced medical sealants and adhesives. For instance, in December 2019, Ethicon Inc., a part of Johnson and Johnson, launched VISTASEAL fibrin sealant (Human) to Manage Bleeding During Surgery. Thus, the rising burden of surgeries coupled with the novel launch of the products is expected to drive market growth over the forecast period. However, unfavorable reimbursement policies for various surgeries and the availability of alternate options which tend to be much more compatible and efficient have been restraining the growth of this market.
Key Market Trends
The General Surgery Segment is Expected to Dominate the Market in the Forecast Period
General surgery focuses on the abdominal area, including the esophagus, stomach, small intestine, large intestine, liver, pancreas, gallbladder, appendix, and bile ducts, and often the thyroid gland. It generally deals with diseases that involve the skin, breast, soft tissue, peripheral vascular surgery, and hernias. Abdominal surgery is one of the most common types of surgeries performed across the world. Hysterectomies, gall bladder surgeries, hernia surgeries, prostatectomies, and cholecystectomies are major surgeries performed across the world. According to the Organization for Economic Cooperation and Development (OECD), in 2018, there were around 198,846 and 179,896 cholecystectomies performed in Germany and Mexico, respectively.
As per the same source mentioned above, in 2018, around 132,063 and 123,935 appendectomies were performed in Mexico and Germany, respectively. The prevalence of abdominal surgeries is rising across the globe, positively impacting the overall market growth. Adhesives play a vital role in general surgeries. Natural and synthetic polymeric materials can be employed to generate three‐dimensional networks that physically or chemically bind to the target tissues and act as hemostats, sealants, or adhesives. As the number of general surgeries increases, the demand and procurement of adhesives and sealants will also increase, considering they are a vital part of the surgery. Hence, this is expected to boost market growth.
North America is Expected to Dominate the Market in the Forecast Period
North America is anticipated to hold the largest share of the surgical sealant and adhesives market. The positive reimbursement situation majorly in the United States, Canada, and Mexico, coupled with the increasing inclination of minimally invasive surgeries, and the soaring number of surgeries are the major factors for the growth of the market in North America. According to the Association for the Advancement of Medical Instrumentation, the number of ambulatory surgery centers (ASCs) in the United States is growing. The number of ASCs in the United States has nearly doubled from 5,260 centers in 2013 to 9,280 in 2019.
The prevalence of various surgeries-associated disorders is also increasing in this region. For instance, according to the Global Health Data Exchange, United States accounted for 3,462,236 new cases of OA in 2019. The prevalence of gynecological disease was found to be 23,764,587 cases in 2019. The increasing prevalence of several diseases is expected to positively impact segmental growth.
Moreover, according to the estimate by OECD, over 10,753 hip replacement surgeries were performed in Mexico in 2018. In recent years, the major surgical sealants and adhesives market players in this region are focusing on product launches, strategic mergers and acquisitions, and partnerships to expand their geographical presence, stay relevant and improve their position. For instance, in 2018, Baxter International, one of the major players in the region, acquired PREVELEAK and RECOTHROM to expand its portfolio of surgical sealants. Hence, owing to all the aforementioned factors, the market in this region is expected to grow exponentially.
The market studied is moderately competitive with local and global companies. The majority of surgical sealants and adhesives are being manufactured by international companies. Market leaders with more funds for research and a better distribution system have established their position in the market. Moreover, Asia-Pacific is witnessing the emergence of some small players, which helped the market growth.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Surgical Procedure
4.2.2 Advancement in Technology
4.3 Market Restraints
4.3.1 Reimbursement Policies not Favoring Surgical Sealants and Adhesives
4.3.2 Availability of Alternative Methods
4.4 Porter s Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Products
5.1.1 Natural or Biological Sealants and Adhesives
18.104.22.168 Fibrin Sealant
22.214.171.124 Gelatin-based Adhesives
126.96.36.199 Collagen-based Adhesive
5.1.2 Synthetic and Semi-synthetic Adhesives
188.8.131.52 Polymeric Hydrogels
184.108.40.206 Polyethylene Glycol Polymer
220.127.116.11 Other Synthetic and Semi-synthetic Adhesives
5.2 By Application
5.2.1 General Surgery
5.2.2 Dental Surgery
5.2.3 Cardiovascular Surgery
5.2.4 Cosmetic Surgery
5.2.6 Orthopaedic Surgery
5.2.7 Other Applications
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 B. Braun Melsungen AG
6.1.2 Baxter International Inc.
6.1.3 Becton, Dickinson and Company
6.1.4 Cardinal Health Inc.
6.1.5 Cohera Medical Inc.
6.1.7 CSL Limited
6.1.8 Johnson & Johnson
6.1.9 Medline Industries Inc.
6.1.10 Medtronic PLC
6.1.11 Ocular Therapeutix
6.1.12 Sanofi SA
6.1.13 Stryker Corporation
6.1.14 Terumo Corporation
6.1.15 Vivostat A/S
7 MARKET OPPORTUNITIES AND FUTURE TRENDS