BURLINGTON, Mass., Oct. 29, 2014 /PRNewswire/ -- Decision Resources Group finds that the United States market for surgical hemostats, internal tissue sealants and adhesion barriers will grow rapidly through 2023 to reach a value of nearly $2.9 billion. The market will be driven by both a growing elderly and obese population as well as considerable competitor interest in this underpenetrated market, leading to product launches.
Other key findings from Decision Resources Group's coverage of the U.S. surgical hemostat, internal tissue sealant and adhesion barrier market:
Multifunctional products: There is a push toward multifunctional products in this market, such as fibrin products that offer both hemostatic and tissue-sealing properties. Ethicon and Baxter already offer products with these features, and more companies will invest in multifunctional products going forward.
Clinical data for FDA approval: Positive clinical data is especially important in the U.S. market given the Food and Drug Administration's (FDA) strict approval process. In fact, many products that are approved in other regions are not available in the U.S., leading to significant off-label usage of approved products. For example, FzioMed has been working to obtain FDA approval of its Oxiplex gel adhesion barrier, which is available in 70 other countries, for the past 13 years.
Acceptance of minimally invasive procedures: Another limiter in this market is the strong adoption of minimally invasive procedures in the U.S. because these procedures often do not require the use of surgical hemostats, internal tissue sealants or adhesion barriers.
Comments from Decision Resources Group Analyst Hamza Sajjad:
"Although this market faces barriers, its underpenetrated nature has led to considerable competitor interest in this space, resulting in six products entering the market in the next 2 or 3 years. HyperBranch Medical Technology, Cohera Medical, Ethicon, Baxter and CryoLife are all anticipated to launch products within this time frame."
"Several recent acquisitions have changed the competitive landscape. For instance, in August 2013, C. R. Bard announced its agreement to acquire Medafor, a leading developer and supplier of plant-based hemostatic agents. Meanwhile, Integra LifeSciences was able to expand into the internal tissue sealant and adhesion barrier markets after acquiring Covidien's Confluent Surgical product portfolio in October 2013."
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