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What are Key Factors Driving the Growth of Fibrin Glue Market?

Geographically, the fibrin glue market would exhibit the fastest growth in Asia-Pacific (APAC) in the future. This is ascribed to the surging geriatric population, the growing prevalence of burn accidents, and the soaring per capita income of the people. As per the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the population of the people in the age group- 65 years and above would reach nearly 20% of the total population of the region by 2050.

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What are Key Factors Driving the Growth of Fibrin Glue Market?

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  1. Fibrin Glue Market To Witness Rapid Growth in Coming Years 1 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  2. The global fibrin glue market is projected to attain a sufficient CAGR in the coming years. There are several factors that are responsible for the market’s rapid growth, such as the growing number of surgical procedures, rising burn cases, and increasing healthcare expenditure. In addition, an aging population, rising incidence of road accidents, low chances of complications associated with these products, and an advancing prevalence of chronic diseases are driving the consumption of such materials in the healthcare sector. In the past, in the fibrin glue market, based on application, cardiac surgery held the largest share. To avoid the loss of blood, fibrin-based sealants are used for tissue adherence and hemostasis during cardiac surgeries, the volume of which is rising with the surging CVD incidence. Other categories in the segment are general surgery, pulmonary surgery, vascular surgery, lacerations of the liver and spleen, neurosurgery, orthopedic surgery, burn bleeding, wound management, plastic surgery, and others. The worldwide fibrin glue market stands to benefit greatly from the improving healthcare ecosystem in emerging economies. Because of the increase in the government spending, growth in the number of hospitals, rise in the number of operational procedures, and greater healthcare awareness, the healthcare business in developing nations is undergoing significant changes. Additionally, the already advanced healthcare sector in developed countries presents lucrative opportunities for the growth of the market. Patients suffering from different diseases are increasingly opting for surgeries for better and faster treatment, which is leading to a rise in the use of fibrin glues. As the incidence of numerous health problems and chronic diseases rises, so does the number of operations conducted across the world, thereby driving the fibrin glue market advance. For instance, over 40% of the school-going children and adolescents in the U.S. have at least one chronic health condition, says the CDC. The government spending on healthcare is expanding in emerging economies, such as Brazil, China, Mexico, and India. Furthermore, greater healthcare knowledge and surging burden of chronic disease in developing nations have boosted the number of operations. As a result, the usage of fibrin glue has increased, creating substantial development potential for market players across the world. Compared to sutures, the usage of fibrin glue to achieve hemostasis is painless and causes less scarring, which is why this product is becoming popular among people, especially the elderly and those conscious of their appearance. To receive free sample pages of this report@ https://www.psmarketresearch.com/market-analysis/fibrin-glue- market/report-sample 2 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  3. To provide more-advanced solutions for hemostasis in surgical settings, major players in the global fibrin glue market are partnering and acquiring other players' product portfolios. RECOTHROM Thrombin Topical (recombinant), RAPLIXA (human fibrin sealant), and PreveLeak Surgical Sealant are among the leading players in the industry. Some other major companies include Hualan Biological Engineering Inc., Shanghai RAAS Blood Products Co. Ltd., Mallinckrodt Plc, Takeda Pharmaceutical Company Limited, Zimmer Biomet Holdings, Inc., CSL Behring, Baxter International Inc., Johnson & Johnson, Kaketsuken, and Vivostat A/S. Hence, due to the government investment in the health sector, the market has tremendous advancement potential. The research offers historical market size of the global fibrin glue marketfor the period 2013 – 2016 and market forecast for the period 2017 – 2023. MARKET SEGMENTATION BY APPLICATION Cardiac surgery General Surgery Vascular surgery Pulmonary surgery Neurosurgery Lacerations of liver and spleen Burn bleeding Orthopaedic surgery Plastic surgery Wound management Others MARKET SEGMENTATION BY GEOGRAPHY North America Fibrin Glue Market • • • • • • • • • • • • oBy Application oBy Country – The U.S. and Canada Europe Fibrin Glue Market • oBy Application oBy Country – Germany, France, the U.K., Italy, Spain and Rest of Europe Asia-Pacific Fibrin Glue Market • oBy Application oBy Country – Japan China, India and Rest of Asia-Pacific 3 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  4. Latin America Fibrin Glue Market • oBy Application oBy Country – Brazil, Mexico and Rest of Latin America Middle East & Africa (MEA) Fibrin Glue Market • oBy Application 4 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

  5. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. The information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. Kindly write to: enquiry@psmarketresearch.com B-13, Sector – 2, Noida, U.P. – 201301, INDIA Contact No: +91 120 4541 337 US/Canada Toll-Free: 1-888-778-7886 5 © Prescient & Strategic (P&S) Intelligence Pvt. Ltd. All rights reserved

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