In 2015, Tissue Glue and Bio-adhesive Sealants Market was valued at US$ 1,156.3 Mn. The market is estimated to grow at a CAGR of 8.0% and will reach US$ 2,281.2 Mn by 2024, generating an additional US$ 1,124.9 Mn in potential between 2015 and 2024. In absolute terms, the market for tissue glue and bio-adhesive sealants is anticipated to grow by US$ 83.0 Mn in 2017 compared to 2016.
Over the course of the forecast period, rising cardiovascular and orthopaedic surgeries across the globe are anticipated to drive revenue growth for tissue glue and bio-adhesive sealants. The rise in these operations worldwide is mostly due to rising disposable income and end users’ ease of access to new surgical adhesives and sealants. The rising number of surgical procedures performed worldwide is one of the key factors propelling the growth of this market.
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By the end of 2016, the hospital segment is anticipated to hold close to 70% of the Tissue Glue and Bio-adhesive Sealants Market & it is projected to grow by 270 BPS by 2024 compared to 2016. In comparison to other categories, the hospital segment is anticipated to develop more rapidly year over year throughout the forecast period due to an increase in outpatient visits for a variety of treatments.
By the end of 2016, specialty clinics are predicted to hold close to 20% of the market’s revenue for tissue glue and bio-adhesive sealants, but they will have a 120 BPS decline by 2024 compared to 2016. The need for fresh surgical adhesives is growing among medical professionals.
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The Tissue Glue and Bio-adhesive Sealants Market is segmented as follows:
Tissue Glue and Bio-adhesive Sealants Market : By End User
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- Hospitals
- Specialty Clinics
- ASCs
Tissue Glue and Bio-adhesive Sealants Market : By Application
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- Cardiovascular Surgery
- Laparoscopic Surgeries
- Burns and Skin Grafting
- Digestive
- Cosmetic, Reconstructive and Hand Surgery
- General Surgeries
- Others
Tissue Glue and Bio-adhesive Sealants Market : By Product Type
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- Protein Based Sealants
- Collagen Based Sealants
- Thrombin-based Sealants
- Fibrin Sealant
- Gelatin-based Sealants
- Others
Tissue Glue and Bio-adhesive Sealants Market : By Region
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- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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Over the last few years, companies have been focusing on development of newer tissue glue and bio-adhesive sealants to target a range of consumers including infants and young and elder patients. Currently these surgical sealants are known for protecting the fragile, sensitive skin from injuries and help in containing infection transmission and cross-contamination.
New launched products such as TissueGlue skin adhesive (Cryolife), CoSeal (Baxter), and DERMABOND ADVANCED® Topical Skin Adhesive (Ethicon Inc.) are considered to be technological breakthroughs in the global tissue glue and bio-adhesive sealants market owing to their functional distinction from other available products in the market.
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