DALLAS, July 1, 2015 /PRNewswire/ --
According to a new market research report "Surgical Sealants and Adhesives Market by Product (Natural & Synthetic, Fibrin, Collagen, Gelatin, Cyanoacrylate, Polymeric, Polyurethane), by Application (CNS, Orthopedic, Cardiovascular, Cosmetic Surgery) - Global Forecast to 2020", published by MarketsandMarkets, the global Surgical Sealants and Adhesives Market is estimated to reach $2.64 Billion by 2020, growing at a CAGR of 9.2% during the forecast period (2015 to 2020).
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The Surgical Sealants and Adhesives Market witnessed healthy growth during the last decade owing to the increasing surgical applications of surgical sealants and adhesives, growing need to manage blood loss, greater uptake of technologically advanced products, rising aging population, and increasing regulatory approvals. However, the high cost and huge amount of clinical data required to launch new products are restraining the growth of the Surgical Sealants and Adhesives Market.
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The Surgical Sealants and Adhesives Market is broadly split into two product segments natural or biological and synthetic & semisynthetic sealants and adhesives. The natural or biological sealants and adhesives accounted for the largest share of approximately 60% of the global Surgical Sealants and Adhesives Market, in 2014. The large share of this segment is mainly attributed to the repetitive use of fibrin sealants and gelatin-based adhesives in various surgical procedures. In addition, the wide use and application of fibrin sealants, owing to their better biocompatibility and natural clotting mechanism are further propelling the growth of this segment.
On the basis of applications, the Surgical Sealants and Adhesives Market is segmented into central nervous system, cardiovascular, general surgery, orthopedic, pulmonary, urology, cosmetic, ophthalmology, and others. The central nervous system application segment accounted for the largest share of approximately 20% of the Surgical Sealants and Adhesives Market in 2014. This is mainly attributed to the increasing number of neuro and spine surgeries across the world, coupled with the effective and easy application of surgical sealants and adhesives to prevent cerebrospinal fluid leakage in both cranial and spine surgeries. However, cosmetic surgery is expected to grow at the highest CAGR of 10.2% followed by orthopedic surgery during the forecast period of 2015 to 2020. The increasing number of cosmetic procedures across the globe and increasing surgeries for burn treatment are some of the factors supporting the growth of the Surgical Sealants and Adhesives Market for cosmetic surgery applications.
North America represented the largest regional market in 2014, followed by Europe, Asia-Pacific, and RoW. The Asia-Pacific region is expected to be the fastest-growing Surgical Sealants and Adhesives Market during the forecast period, primarily due to the rise in health awareness, improving healthcare infrastructure, growth of aging population and resultant increase in the prevalence of chronic diseases, and increase in number of surgeries.
Some major players in the Surgical Sealants and Adhesives Market are Baxter International, Inc. (U.S.), CryoLife, Inc. (U.S.), C.R. Bard, Inc. (U.S.), Johnson and Johnson (Ethicon, Inc.) (U.S.), Medtronic plc (U.S.), Sanofi Group (France), B. Braun Melsungen AG (Germany), and Cohera Medical, Inc. (U.S.).
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