Market Research Report
Surgical Glue Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||708647|
|Published||Content info||112 Pages
Delivery time: 2-3 business days
|Surgical Glue Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 112 Pages||
The Surgical Glue Market is expected to register a CAGR of 10.7% during the forecast period. The factor that contributes to the growth of the global surgical glue market is the rising number of traumatic injuries. The market growth is also majorly driven by the rise in the number of surgical procedures and burn cases, along with increasing incidences of road accidents, globally. The rising health awareness and high prevalence of the diseases (such as skin diseases, cancer, heart diseases, and respiratory diseases) have increased the opportunities for the surgeries.
According to the World Health Organization (WHO) 2020 report, estimates approximately 1.35 million people die each year as a result of road traffic crashes. Between 20-50 million people suffer from non-fatal injuries, with many incurring a disability as a result of their injury. 93% of the world's fatalities on the roads occur in low and middle-income countries, even though these countries have approximately 60% of the world's vehicles. Even within high-income countries, individuals from lower socioeconomic backgrounds are more likely to be involved in road traffic crashes. Thus, rising prevalence of diseases along with road injury cases is expected to drive the market.
However, the market is highly constrained due to increasing minimally invasive procedure and side effects associated with surgical glue which includes a sensation of mild heat at the time the glue is applied and an increased risk of wounds re-opening.
Synthetic and Semi Synthetic Segment is Expected to Show Significant Growth Rate Over the Forecast Period in the Surgical Glue Market
The rise in the number of surgical procedures performed is expected to drive the growth of the market. Synthetic and Semi-Synthetic glue is usually preferred by the patients due to its cost-effectiveness and better adhesion as compared to others.
As per the Association for Safe International Road Travel (ASIRT), approximately 1.35 million people die each year in road accidents and an additional of 20-30 million gets disabled or injured. Moreover, according to the International Agency for Research on Cancer (IARC), by the year 2040, it is estimated that new cases of cancer to grow to 27.5 million. In addition, the global cancer burden is anticipated to increase by 70% in the next 20 years. Therefore, the rising cases of accidents, and high prevalence rate of cancer which is expected to increase surgical procedures in coming years which ultimately drives the growth of the segment in the near future.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is anticipated to continue being the largest-growing surgical glue market in the coming years. The factors that have contributed to the growth include the increasing investments in R&D of medical adhesives and their several applications in different surgeries performed in the region. As per Heart Disease & Stroke Statistical Fact Sheet 2020, estimates that a minimum of 40,000 infants is expected to be affected each year by congenital heart defects in the United States. Of these, about 25% or 2.4 (per 1,000 live births), require treatment in the first year of life. Furthermore, Asia-Pacific is also expected to be the fastest-growing region, due to the growing development of the clinical speciality, and all-purpose products that provide faster sealing, hemostasis, or closure for general wound applications in internal and external use.
The Surgical Glue Market is highly competitive and the companies are adopting different strategies to maintain their position in the market like Baxter has completed the acquisition of RECOTHROM and PREVELEAK in march 2018, to broaden its surgical portfolio. The major companies dominating this market are Adhesys Medical, Advanced Medical Solutions, B. Braun, Baxter International, Cardinal Health Inc., CryoLife, Integra LifeSciences Corporation, LifeBond, and Medtronic.