Fibrin Sealants Market By Dosage Forms (Liquid, Patch, Powder), By Application (General Surgery, Cardiovascular Surgery, Wound Management, Orthopedic Surgery, Urological Surgeries, Ophthalmic Surgeries, Others), By End User (Hospitals, Ambulatory Surgical Centers, Clinics): Global Opportunity Analysis and Industry Forecast, 2023-2032
The Fibrin Sealants Market was valued for $550.00 million in 2022 and is estimated to reach $1,136.50 million by 2032, exhibiting a CAGR of 7.8% from 2023 to 2032. Fibrin sealants are used in a wide range of surgeries, primarily as hemostatic agents, however, also to assist tissue sealing and wound healing. Fibrin sealants are used during surgeries to avoid surgical complications such as air and fluid leaks. These sealants are available in the form of films, powder, and liquid, and aid by creating a hemostatic layer, which stops blood and air leakage from the targeted area. Fibrin sealants contain fibrinogen and thrombin and differ in their final composition. This affects properties of the resulting fibrin clot and may influence their use in different surgical procedures. Fibrin sealants with high concentrations of fibrinogen tend to produce stronger clots, whereas those containing higher concentrations of thrombin form clots rapidly.
Major factors driving growth of the fibrin sealants market include rise in technological advancements, increase in prevalence rate of chronic diseases, such as heart diseases, cancer, ischemic stroke, aneurysm, and increase in road accidents related surgeries propel high adoption of fibrin sealants. For instance, according to World Health Organization Cardiovascular Diseases (CVDs) are leading cause of death globally, taking an estimated 17.9 million lives each year. It has been estimated in 2020 that around 17.9 million people die each year from CVDs, an estimated 31% of all deaths worldwide. For instance, according to the National Center for Health Statistics, every year, about 805,000 people in the U.S. have a heart attack. This led to increase in number of cardiac surgeries and use of fibrin sealants.
However, unfavorable reimbursements as well as complications such as high costs associated with fibrin sealant products are expected to hamper the market growth. On the contrary, unmet medical demands in developing countries and lucrative opportunities in emerging economies are expected to create immense opportunities for fibrin sealant manufacturers worldwide in the future.
The fibrin sealants market is segmented on the basis of dosage form, application, end user, and region. On the basis of dosage form, the market is classified into liquid, patch, and powder. As per application, it is classified into general surgery, cardiovascular surgery, wound management, orthopedic surgery, urological surgery, ophthalmic surgery, and others.
Depending on end user, it is fragmented into hospitals, ambulatory surgical centers, and clinics. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major players profiled in the report are Baxter International Inc., Becton, Dickinson and Company, Corza Medical, CSL Behring, Grifols, S.A., Hemarus Therapeutics Ltd., Johnson and Johnson, Nordson Corporation (Nordson Medical), Shanghai RAAS Blood Products Co., Ltd., and Vivostat A/S.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the fibrin sealants market analysis from 2022 to 2032 to identify the prevailing fibrin sealants market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the fibrin sealants market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global fibrin sealants market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy Dosage FormsLiquid
Liquid Type
Frozen fibrin sealants
Freeze dried fibrin sealants
Patch
Powder
By ApplicationGeneral Surgery
Cardiovascular Surgery
Wound Management
Orthopedic Surgery
Urological Surgeries
Ophthalmic Surgeries
Others
By End UserHospitals
Ambulatory Surgical Centers
Clinics
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market Players
Grifols, S.A.
Baxter International Inc.
CSL Behring
Johnson and Johnson
Hemarus Therapeutics Ltd.
Nordson Corporation (Nordson Medical)
Becton, Dickinson and Company
Vivostat A/S
Shanghai Raas Blood Products Co. Ltd
Corza Medical
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