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I AgreeAnalysis of Fibrin Sealants Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Evolving at a CAGR of 7%, the global fibrin sealants market is currently valued at US$ 976.5 million and is projected to reach US$ 1.92 billion by the year 2033.
A fibrin sealant patch is a two-component hemostatic patch consisting of collagen or cellulose that is flexible and implanted with fibrinogen and thrombin from human plasma. These fibrin sealant patches do not rely on the patient’s blood having sufficient amounts of fibrinogen to accomplish hemostasis because they deliver both human fibrinogen and thrombin to the bleeding site.
Fibrin sealants are bifurcated into liquid fibrin sealants and patch fibrin sealants. Global demand for fibrin liquid sealants and fibrin patches is expected to increase at CAGRs of 7.5% and 6.5%, respectively, during the next 10 years.
In 1998, fibrin sealants were the first substance from the contemporary age to receive American approval as a hemostat. It is the only substance that the Food and Drug Administration has officially approved for use as a hemostat, adhesive, and sealant. In addition to initial liquid formulations, the solution is now available in patch form too. Liquid fibrin sealants are currently dominating the market in terms of revenue due to their superior procedural outcomes compared to fibrin patches. Additionally, the characteristics of liquid fibrin glue such as quick action and greater rational stability are boosting sales growth.
Although surgical bleeding is a typical complication seen during operations, excessive bleeding can raise the risk of morbidity and fatality. One of the main developments in the fibrin sealants market is the use of fibrin sealant in hemostasis procedures to reduce bleeding during and after surgical procedures.
When there is significant bleeding, fibrin sealant, which is made up of fibrinogen and thrombin, is crucial to the process of hemostasis. As per the National Institutes of Health's classification, there are various types of fibrin sealants, including individual human plasma liquid, human pooled plasma and equine collagen patch, bovine collagen and bovine thrombin, human pooled plasma liquid, and human pooled plasma, as well as oxidised regenerated cellulose patch.
During the projection period (2022-2033), it is predicted that the market would develop faster because of the increasing use of hemostatic devices in surgical procedures due to improved procedural efficiency and a decrease in mortality risk. The adoption of tissue sealant devices is expected to increase by 2033 as a result of an enormous rise in the frequency of cardiovascular diseases worldwide and an increasing demand for enhanced hemostatic devices.
Report Attributes |
Details |
Market Size (2023E) |
US$ 976.5 Million |
Forecasted Market Value (2033F) |
US$ 1.92 Billion |
Global Market Growth Rate (2023-2033) |
7% CAGR |
China Market Growth Rate (2023-2033) |
10.5% CAGR |
Japan Market Growth Rate (2023-2033) |
4.5% CAGR |
Germany Market Growth Rate (2023-2033) |
5% CAGR |
Key Companies Profiled |
|
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“Need for Advanced Efficiency in Various Types of Surgeries”
Escalating demand for effective tissue sealing and hemostasis during operations has had a significant influence on the advancement of contemporary surgical techniques. To aid in hemostasis and tissue sealing during surgeries, a class of substances known as surgical tissue adhesives, which includes both natural and synthetic substances, has been developed.
The most effective tissue adhesives now on the market are fibrin sealants. They are both biodegradable and biocompatible. Human thrombin, refined, virus-inactivated human fibrinogen, and occasionally other substances such as virus-inactivated human factor XIII and bovine aprotinin make up the fibrin sealants.
To form a fibrin clot, these substances mimic the concluding stages of the normal clotting cascade. Thus, the increasing use of fibrin sealants in the healthcare industry is boosting sales growth.
“Rising Cases of Blood-related Disorders”
Currently, fibrin sealants are utilised in a variety of surgical procedures, including dental surgeries, plastic and reconstructive surgeries, thoracic surgeries, and cardiovascular surgeries. The application of fibrin sealants vastly enhances the duration of hemostasis, reduces blood loss, and reduces the complexity of surgical procedures.
Numerous electrosurgical tools can be used to examine and seal vascular systems. Topical hemostatic medications, including fibrin sealants, are used to stop bleeding from surfaces or cavities that are resistant to suturing, electrosurgeries, or other useful tools such as the argon plasma coagulator.
Demand for fibrin sealants is increasing due to the rising surgical operations and patients with blood-related diseases such as haemophilia.
“Increasing Need of Surgeries to Treat Chronic Disorders”
Elderly patients require intensive care since they are more likely to experience wounds and traumas which need a long time to heal. The demand for fibrin sealants is anticipated to rise quickly due to rising cases of common wounds and injuries across the globe.
The majority of chronic illnesses eventually require surgical operations, which then spur sales growth. Hernia fixation, diabetes, spine injuries, ocular injuries and replacements, urological diseases, and burns are a few chronic conditions that require fibrin sealants.
Alternative wound closure procedures were rejected in favour of these solutions, which led to a growth of their applications, notably in endoscopic procedures. Peptic ulcers can be effectively treated with endoscopic hemostatic therapy. Patients undergoing treatment for everything from simple wounds to burns and neurosurgery procedures benefit from the use of fibrin-sealing solutions.
Cardiovascular surgeries experience the highest demand after general operations. Due to sealants' greater clinical results when compared to alternative wound closure techniques, their usefulness in cardiovascular diseases is higher.
“Limitations on Usage of Fibrin Sealants in Some Surgeries”
Limitations on the use of fibrin sealants in laparoscopic and minimally-invasive surgeries are anticipated to slow their uptake, which may hinder the growth of the fibrin sealants market over the forecast period. Also, the strict regulations for product approvals and high costs associated with treatment procedures may slower sales growth.
“Increasing Cases of Cardiovascular Disorders & Blood Clotting Issues”
The U.S. currently holds a dominant position in the North American fibrin sealants market as a result of advanced healthcare infrastructure, widespread usage of cutting-edge automated analyzers, and a big target patient base.
Additionally, technological advancements have increased accessibility to healthcare services, and in the coming years, the entry of new manufacturers is likely to fuel sales growth in the country. Blood clot-related disorders are becoming more common, which is also pushing up demand for fibrin sealants.
Thus, all the above-mentioned aspects are increasing the demand for fibrin sealants in the U.S.
“Huge Presence of Pharma & Biotech Companies & Advancing Healthcare Infrastructure”
China, Japan, and South Korea are considered to be the most profitable markets in the Asia Pacific region and are expected to have greater market values. These countries are anticipated to dominate the Asia Pacific market in terms of revenue share and expand at a much quicker rate than other nations due to their technologically advanced healthcare systems, novel treatment procedures, and sizable patient population.
Growth of the fibrin sealants market in the region is attributed to the presence of top pharmaceutical and biotech companies working on therapeutic development. The rapidly developing healthcare industry also supports the sales of fibrin sealants.
Furthermore, there are potential opportunities for market growth as a result of increased fibrin sealant demand and rising cardiovascular disorder prevalence in the region. Demand for fibrin sealants in China and Japan is expected to increase at CAGRs of 10.5% and 4.5%, during the forecast period, respectively.
“Increasing Cases of Various Dental Conditions”
The market for fibrin sealants in Europe is currently dominated by nations including the United Kingdom, Germany, Italy, and France. According to a survey conducted in the U.K., most people with dentures struggle with confidence because they feel uncomfortable wearing loose-fitting dentures in their mouths. As a result, they might avoid social situations.
Rapidly rising prevalence of dental and oral conditions such as tooth decay, and periodontal flap closure, as well as increasing demand for cosmetics and conditions, is expected to boost the demand for dental sealants in the U.K. profitably over the projected period. This is due to the rising adoption of several innovative and cutting-edge sealant products.
Germany is currently commanding a substantial sales share in the Europe market as more people are undergoing orthodontic and cardiovascular treatment procedures. Sales of fibrin sealants in Germany are predicted to rise at a CAGR of 5% during the next 10 years.
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“High Demand for Fibrin Glues from Hospitals”
Throughout the projected period, the hospitals are anticipated to hold a significant share of the market. Demand for fibrin sealants from hospitals is anticipated to be driven by an increasing number of coronary artery bypass grafting and other cardiovascular surgeries performed in hospitals due to the presence of advanced healthcare facilities and improved technologies.
Along with this, there is a steady movement in patient choice from inpatient to outpatient visits, which is predicted to provide specialty clinics with significant development prospects during the forecast period.
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Since a few significant competitors control the majority of the market share, the fibrin sealants market is highly concentrated. The majority of the market share in this sector is currently held by Baxter and Ethicon (a division of Johnson & Johnson Services, Inc.), with Baxter dominating in terms of revenue.
Strong brand recognition, a stable client base, a presence across all regions, and a reliable distribution system all contribute to this. Due to ongoing product introductions, strategic partnerships, and a concentration on market penetration in emerging regions, it is predicted that Ethicon's market share will rise over the forecast period.
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The global fibrin sealants market is valued at US$ 976.5 million in 2023 and is projected to reach US$ 1.92 billion by 2033.
Global sales of liquid fibrin sealants are expected to rise the fastest at a CAGR of 7.5% through 2033.
Global sales of fibrin sealants are predicted to evolve at a CAGR of 7% during the forecast period.
Increasing cases of chronic disorders, rising trauma cases, and growing rate of the senior population are boosting fibrin sealants market growth.
Medtronic, Baxter, and J&J are key manufacturers of fibrin sealants.