Surgical Glue Market – Analysis and Forecast To 2024, Johnson & Johnson, Medtronic PLC, CryoLife Inc., Takeda Pharmaceut

1. Global Surgical Glue Market

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3. Global Surgical Glue Market Industry Overview The global surgical glue market was valued USD 4,284.7 million in 2018 and is projected to reach USD 7,835.1 million by 2024. This market is further expected to witness a CAGR of 10.7% during the forecast period owing to the increasing expenditure on healthcare and increasing population of old age across the globe. Surgical glue is used in case of traumatic injuries and surgeries that avoid leakage of liquids or air in the wounds. Moreover, another name for surgical glue is surgical adhesive and sealants that are commonly being termed by consumers and health professionals.

4. Global Surgical Glue Market Insight by Type On the basis of type, the surgical glue market is segmented into fibrin sealant, cyanoacrylate, collagen-based compound, glutaraldehyde glue, hydrogel. and others. Among all these segments fibrin sealant has been generating the largest revenue throughout the estimated period. This segment is expected to contribute more than 40.0% share to the global surgical glue market in 2018. The extensive growth of global surgical glue market is attributed towards enhancing demand for fibrin sealant and related products for the huge variety of applications and due to its natural origin, which is extracted from animal or human blood cells and thereby it is expected to be the extremely compatible with the human body.

5. Global Surgical Glue Market Growth Drivers The factors that are driving the growth of the global surgical glue market include cost-effectiveness involved with surgical procedures and extensive advantages from fast post-operative recovery. Additionally, there are innumerable accessibility and availability of these devices across the globe, which is one the major reason that is pertaining towards the growth of surgical glue market. It has been observed that the citizens of both developed, as well as developing countries, are extensively spending on healthcare services due to the increasing disposable income of the residents of those countries and increasing issues regarding health.  According to a recent study published by Centers for Disease Control and Prevention (CDC) it has been established that the total expenditure on healthcare services in the U.S. has projected towards a total of $3.9 trillion. Moreover, according to a report furnished by the U.K. Office for National Statistics (ONS), U.K.’s total healthcare expenditure accounted for approximately $300 billion in the recent past.  These reports help in predicting insight regarding the expenditure on healthcare undertaken by several countries across the globe is quite high due to rapid awareness and upsurge in medical facilities, technological progression in the healthcare devices and increasing disposable income. Moreover, patients worldwide are excessively getting surgeries done to acquire the benefits of quick and improved treatment alternatives that are further driving the growth of the global surgical glue market. 

6. Global Surgical Glue Market Growth Drivers Geographically, North America is the largest revenue contributor in the global surgical glue market due to the increasing demand of these glues in the region specifically the glue that is tissue friendly. According to a recent report by TMC Innovation Institute, it states that in the U.S approximately 30 million accidents occur on an annual basis along with around 40 million surgeries in 2017 that requires some sort of closure for the injury. In the recent past, injuries were covered with stapling, suturing and cauterization that inhibits various problems such as leakage in wounds after the surgery from staple lines and suture. Moreover, due to the increasing benefits of surgical glue, this market is gaining huge popularity in the region that is further expected to bolster its growth in the near future. The Asia Pacific is expected to witness the fastest growth in the global surgical glue market due to increasing application of particular formulation of the product, increasing the advancement of clinical specialty and development of all-purpose products that offers hemostasis and faster sealing. The growth of this market is attributed towards the increasing population of geriatric, increasing demand for surgical interventions and rapid technological upgradation in healthcare domain.

7. Global Surgical Glue Market Competitive Insight Some of the major players operating in the global surgical glue market include B. Braun Melsungen AG, Baxter International Inc., Advanced Medical Solutions Group PLC, C. R. Bard Inc., Cardinal Health Inc., CryoLife Inc., Integra LifeSciences Holdings Corporation, Cohera Medical Inc., Takeda Pharmaceutical Company Limited., and Johnson & Johnson, Medtronic PLC.

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