What Is The Current and Historic Market Size Analysis Of The Fibrin Sealants Market?
The fibrin sealants market has seen considerable growth due to a variety of factors.
• In recent times, the market size of fibrin sealants has seen significant growth. It's projected to expand from $1.08 billion in 2024 to $1.17 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 8.4%.
The historical growth of this market can be credited to factors such as the surge in medical tourism, improvements in healthcare infrastructure, an upswing in elective surgical procedures, the escalating prevalence of chronic diseases, and increasing demand for quick hemostasis solutions.
What Is The Forecast For The Fibrin Sealants Market Size?
The fibrin sealants market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the fibrin sealants market is predicted to experience substantial growth. The market is set to increase to $1.61 billion by 2029, with a compound annual growth rate (CAGR) of 8.1%.
Factors contributing to this projected growth include a higher rate of cosmetic surgeries, a growing elderly population, a rise in cases of CABG, blood-related disorders, and an increase in dental surgeries. Key trends expected for the forecast period encompass improvements in technology, advanced hemostatic techniques, customization in medicine, digital health technologies, and the advent of robotic-assisted surgeries.
What Are The Essential Drivers Behind The Growth Of The Fibrin Sealants Market?
The fibrin sealants market is expected to expand due to the increasing number of cosmetic surgeries. In essence, cosmetic surgeries – often aimed at modifying or enhancing a person's appearance – are seeing a wave of growth due to societal beauty standards, advances in surgical procedures, and the wider availability of less invasive treatments. Fibrin sealants come into play in these surgeries, fostering quicker wound healing, lessening bleeding, and reducing scarring, thus bettering surgical results and patient recovery time. For example, CosmetAssure, a US-based American Society of Plastic Surgeons, reported in September 2023 that liposuction was the most sought-after plastic surgery operation the previous year, with 347,782 procedures performed marking a 7% increase from 2022. Tummy tucks also recorded an increase of 5%, reaching 170,110 procedures. Consequently, the fibrin sealants market gains momentum due to the rise in cosmetic surgeries.
How Is The Global Fibrin Sealants Market Divided Into Key Segments?
The fibrin sealantsmarket covered in this report is segmented –
1) By Type: Liquid, Patch, Powder
2) By Technology: Autologous Donation, Viral Inactivation, Recombinant Production, Other Technologies
3) By Application: General Surgery, Cardiovascular Surgery, Wound Management, Orthopedic Surgery, Urological Surgeries, Ophthalmic Surgeries, Transplant Surgery, Other Applications
4) By End-User: Hospitals, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Liquid: Bovine-Derived Liquid Sealants, Human-Derived Liquid Sealants, Synthetic Liquid Sealants, Recombinant Fibrin Sealants
2) By Patch: Bovine-Derived Fibrin Patches, Human-Derived Fibrin Patches, Synthetic Fibrin Patches, Bioabsorbable Fibrin Patches
3) By Powder: Bovine-Derived Fibrin Powder, Human-Derived Fibrin Powder, Synthetic Fibrin Powder, Recombinant Fibrin Powder
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What Emerging Trends Are Influencing The Growth Of The Fibrin Sealants Market?
Major firms present in the fibrin sealants market are working towards creating hemostatic agents that halt bleeding instantly upon impact. Hemostatic agents are substances used to cease bleeding by aiding the clotting of blood at a wound or surgical cut. For example, in February 2022, Swasth Kare, a firm based in India known for manufacturing hemostatic agents, released SeraSeal. It's a product from Wortham Laboratories, another Indian company focused on hemostatic wound care and coagulation items. SeraSeal, a fibrin sealant, is engineered to stop bleeding immediately upon contact, accomplishing hemostasis within moments even in the face of arterial hemorrhages - a critical capability during emergency situations when every second is vital. Its translucent quality enables surgeons to clearly see the site of bleeding, hence guiding more effective decisions during surgical procedures.
Who Are the Key Players In The Fibrin Sealants Market?
Major companies operating in the fibrin sealants market are:
• Johnson & Johnson
• Takeda Pharmaceutical Company Limited
• Asahi Kasei Medical Co. Ltd.
• Baxter International Inc.
• CSL Behring
• Grifols S.A.
• Sigma-Aldrich
• Nordson Corporation
• Integra LifeSciences Corporation
• Shanghai RAAS Blood Products Co. Ltd.
• Mallinckrodt Pharmaceuticals
• Biotest AG
• LFB Group
• Hualan Biological Engineering Inc.
• Corza Medical
• Aesculap Inc.
• Ethicon Inc.
• CryoLife Inc.
• VIVEX Biologics Inc.
• MediWound Ltd.
• Cohesion Technologies Inc.
What Are The Regional Insights Into The Fibrin Sealants Market?
North America was the largest region in the fibrin sealants market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fibrin sealants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
