Surgical sealants and adhesives market accounted for $1,993 million in 2016, and is expected to reach $3,794 million by 2023 with a CAGR of 9.7% from 2017 to 2023. North America is the highest contributor in the surgical sealants and adhesives market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
List of Key Players
The key players operating in the global surgical sealants and adhesives market include Baxter International Inc., B. Braun Melsungen AG, Cohera Medical, Inc., CryoLife Inc., C.R. Bard Inc., CSL Limited (CSL Behring), Johnson & Johnson (Ethicon, Inc.), Ocular Therapeutix Inc., Sanofi, and Sealantis Ltd.
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Key Findings of the Surgical Sealants and Adhesives Market:
- Cosmetic surgery is projected to grow at the highest rate during the forecast period both in terms of value and volume by 12.2% and 12.7% respectively.
- North America dominated the global surgical sealants and adhesives market in 2016, and is projected to continue its dominance in future.
- China is expected to grow at the highest rate in the Asia-Pacific region during the forecast period.
- Tissue sealing & hemostasis was the largest contributor among the end user segment in 2016.
- Cardiovascular surgery segment generated the highest revenue in 2016, and is expected to continue its dominance in future.
- In terms of volume fibrin based accounted for the largest share in 2016, registering a CAGR of 8.5% during the forecast period.
- Chitosan based dominated the polysaccharide natural surgical sealants and adhesive segment in terms of volume in 2016.
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In 2016, North America was the dominant revenue contributor, owing to high prevalence of chronic diseases, increase in disposable income, and surge in number of surgical procedures. However, Asia-Pacific is witnessing the highest CAGR during the analysis period, owing to the presence of high populace countries such as India and China, which in turn increases the prevalence rate of chronic diseases, geriatric population, and the number of cosmetic surgeries being conducted.
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