Surgical Sealants And Adhesives Market

Surgical Sealants and Adhesives Market Size (2023 to 2028)

The size of the global surgical sealants and adhesives market is estimated to be worth USD 5.82 billion by 2028 from 3.68 in 2023, growing at a CAGR of 9.6% between 2023 to 2028.

Surgical sealants and adhesives are replaceable with sutures and staples, where it has better advantages in minimizing blood loss and easy implementation. This procedure is less painful than compared, and there is no need to remove them once placed. 

MARKET DRIVERS:

Y-O-Y growth in the prevalence of chronic diseases, an increasing number of surgeries associated with the rising geriatric population are majorly promoting the global surgical sealants and adhesives market growth.

Growing incidences of chronic diseases such as cardiovascular, cancer, and other diseases prompt the market's demand. According to a recent survey, cardiovascular disease is one of the diseases leading to death. There are 17.5 million deaths every year, where around 80% of deaths are in low-middle-income countries. There are 500,000 open-heart surgeries performed every year. This is solely increasing the demand for surgical sealants and adhesives market. 

Additionally, factors such as an increasing number of accidents and sports-related injuries, and rising occurrences of obesity are likely to boost the growth rate of the surgical sealants and adhesives market.

Growing prevalence to minimize blood loss while performing surgeries and increasing minimally invasive surgeries are factors propelling the market shares. Surgical sealants and adhesives have a prominent role in cosmetic surgeries, showing positive market growth outcomes. According to the World Health Organization (WHO), 235 million surgeries are being performed annually, which is merely leveraging the market's demand. The launch of innovative procedures in healthcare is also a beneficial factor for the market to grow. Focus on developing new procedures with the latest technologies is likely to bolster the market's growth rate. Government initiatives in launching reimbursement policies in favor of the common people are also an attribute leveraging the market's growth rate.

Increasing demand for lower surgical injuries is certainly a major factor driving the growth rate of the market.

The rise in the number of older people across the world and growing demand for surgical services, and the rise in incidences of chronic diseases further support the growth rate of the market. According to the Standford Healthcare Report, around 50 million patients undergo inpatient surgery every year, particularly in the US. Organization for Economic Co-operation and Development (OECD) stated that approximately 400,000 patients had general surgeries in 2017 in the United States. 

As surgical sealants and adhesives give excellent outcomes like cosmetic surgery as they do not leave marks like sutures and staples. Escalating healthcare expenditure, especially in urban areas, and a rise in investments in healthcare centers by government and non-government bodies, are also likely to propel the growth rate of the market. The replacement of traditional products with advanced technologies is lucrative to create growth opportunities for the market. Rising prevalence for quality treatment procedures and growing disposable income in urban areas are expected to favor the surgical sealants and adhesives market during the forecast period. Also, creating awareness over the benefits of these materials in surgeries is leveraging the growth rate of the market to the extent.

MARKET RESTRAINTS:

Lack of awareness among the people in undeveloped countries regarding the latest healthcare procedures hinders the growth rate of the global surgical sealants and adhesives market.

The lack of skilled people in performing the surgeries in different areas restrains the demand of the surgical sealants and adhesives market. Growing prevalence for the traditional way of surgical procedures due to increasing risk factors associated with the surgical sealants and adhesives implementation is slowly impeding the growth rate of the market. Complex regulatory structures by the government are challenging factors for the market players. The high cost of treatment procedures with the sealants and adhesives that common people cannot afford is also a degrading factor for market growth.

COVID 19 impact on the global surgical sealants and adhesives market:

COVID 19 is a deadly disease that disrupted many sectors in distinct ways. The global economy has been affected negatively due to this outbreak. World Health Organization (WHO) declared it emergency healthcare where various nations imposed lockdown restrictions and a ban on international flights. These guidelines have settled down the demand of the surgical sealants and adhesives market as the healthcare providers either postponed or canceled the surgeries. During this period, the only emergency was handled by the professionals, which declined the growth rate of the market. However, in the last months of 2020, the activities were resumed with the necessary precautions with the unlock guidelines. It is estimated that the world load for general surgeries will increase in 2021 by 18% amid COVID 19 pandemic.

REPORT SCOPE:

This market research report on the global surgical sealants and adhesives market has been segmented and sub-segmented into the following categories and analyzed market size and forecast until 2028.

Surgical Sealants and Adhesives Market - By Product:

• Natural/Biological Surgical Sealants & Adhesives
  • Polypeptide/Protein-based Sealants & Adhesives
  • Polysaccharide-based Sealants & Adhesives
• Synthetic & Semisynthetic Sealants and Adhesives
  • Cyanoacrylates
  • Polyethylene Glycol-based Hydrogel
  • Urethane-based Adhesives

Based on the product, the natural/biological surgical sealants & adhesives segment leads with the dominant shares of the market. The growing prevalence of lower-risk surgeries among patients is a key driving factor for this segment to grow. Increasing incidences of obesity-related issues and rising demand for cosmetic surgeries are elevating the growth rate of the market. Synthetic & SemiSynthetic sealants & adhesives segment is ascribed to have a significant growth rate in the forecast period.

Surgical Sealants and Adhesives Market- By Indication:

• Tissue Sealing & Haemostasis
• Tissue Engineering

The tissue sealing & Hemostasis segment is ruling with the highest shares of the market with the growing awareness over these products' use while performing surgeries. Growing demand for advanced technologies in healthcare is greatly prompting the growth rate of the tissue engineering segment. It is expected that the tissue engineering segment is to have huge growth opportunities in the coming years.

Surgical Sealants and Adhesives Market – By Application:

• Central Nervous System Surgeries
• General Surgeries
• Cardiovascular Surgeries
• Orthopedic Surgeries
• Cosmetic Surgeries
• Ophthalmic Surgeries
• Urological Surgeries
• Pulmonary Surgeries

The central nervous system surgeries segment leads with the prominent shares of the market with the rising incidences of CNS disorders worldwide. Sealants and adhesives are given the highest priority while performing CNS surgeries rather than traditional choices. The cardiovascular surgery segment is likely to have the highest CAGR shortly.

Surgical Sealants and Adhesives Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American market is predicted to account for the largest share in the global market during the forecast period, closely followed by Europe, while Asia Pacific has the highest CAGR. North America has the highest shares of the market with the increasing incidences of obesity-related problems related to adopting sedentary lifestyles. Increasing investments in healthcare by the top-ranked players to implement the latest technologies is ascribed to bolster the market demand in this region. The US is the most dominating country in leading the prominent shares of the market. Increasing disposable income and escalating expenditure on healthcare are lavishing the growth rate of the market.

The European market is following North America in gaining traction in accounting substantial share in the global market. Increasing investments in the development of new technologies are propelling the demand of the market. Constant economic growth is an attribute fuelling the market’s growth.

Asia Pacific is anticipated to hit the highest CAGR in the near future. The increasing elderly population and rising government support through investments are major factors for growth in this region. India and China are contributing to the highest shares.

KEY MANUFACTURERS IN THIS MARKET:

Some of the key market participants dominating the global surgical sealants and adhesives market profiled in the report are CryoLife, Inc. (U.S.), Johnson & Johnson, Ethicon, Inc., Baxter International, Inc. (U.S.), C.R. Bard, Inc. (U.S.), Cohera Medical, Inc. (U.S.), Ocular Therapuetix, Inc. (U.S.), Vivostat A/S (Denmark), Sealants Ltd. (Israel), Medtronic plc (U.S.), Sanofi Group (France) and B. Braun Melsungen AG (Germany).

KEY HAPPENINGS IN THIS MARKET IN THE RECENT PAST:

• In 2019, Johnson & Johnson announced that Ethicon Inc. had launched VISTASEAL Fibrin Sealant (Human), a combination of fibrinogen and thrombin. It helps surgeons to manage the bleeding of the patient during surgeries.
• In 2019, Advanced Medical Solutions Group Plc., a surgical and advanced wound care specialist company, announced the acquisition of Sealantis limited. The company acquired the company for USD 25 million. Currently, the products are in development and soon will receive approvals from the higher authorities.
• In 2018, Baxter acquired RECOTHROM and PREVELEAK, which is esteemed to increase the Hemostat and Sealant portfolio.
• In 2016, Johnson & Johnson Company opened a new center for delivery services in Florida. This helped the company’s business to expand along with manufacturing and research capabilities.
• In 2016, FDA approved EVARREST Fibrin Sealant Patch introduced by Ethicon. This product has a wide range of applications as an adjunctive hemostat in surgical procedures.