The global surgical sealants market is anticipated to grow at a CAGR of 9.7% during the forecast period (2024-2031). The key companies across the globe are highly inclined towards the adoption of different growth strategies including capacity expansion, mergers and acquisitions, geographical expansion, new product launch, and product innovation to remain competitive in the marketplace. For instance, in January 2021, Arch Therapeutics, Inc., a manufacturer of self-assembling wound care and bio surgical devices, has announced that it has done an agreement with Buffalo Supply Inc. for the distribution of products sold to the US government facilities across the globe. The first product of the company distributed in the US was the AC5 advanced wound system based on the self-assembling peptide technology platform.
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In December 2019, Johnsons & Johnsons, a medical devices company, has announced that Ethicon has launched VISTASEAL Fibrin Sealant (Human) to assist surgeons to manage bleeding during surgery. It is a combination of fibrinogen and thrombin, clotting proteins found in human plasma. When applied to the bleeding portion, it forms adherent, and durable clots and assist to sustain hemostasis (stoppage of bleeding), even in high-risk patients. Apart from it, in October 2018, Stryker has announced that it has acquired HyperBranch Medical Technology and its Adherus AutoSpray dual sealant for around $220 million. However, the key player’s strategies such as the expansion of its product distribution by making new agreements, launches of new products, and mergers and acquisitions in the market are to drive the global surgical sealants market during the forecast period.
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Market Coverage
- Segment Covered-
o By Type
o By Indication
o By Application
o By End-User
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- Baxter International Inc., B. Braun Melsungen AG, Cohera Medical, Inc., CryoLife Inc., C.R. Bard Inc., CSL Ltd., Johnson & Johnson (Ethicon, Inc.), Ocular Therapeutix Inc., among others.
Recent Strategies initiatives in the Global Surgical Sealants Market:
- In September 2020, Takeda Pharmaceuticals co. ltd. has done an agreement with Corza Health Inc., to divest its TachoSil Fibrin Sealant Patch. This fibrin sealant patch is a surgical patch to deliver safe, fast, and reliable bleeding control. Takeda Pharmaceutical Company received around $421 million in cash for divesting its TachoSil to Corza Health.
- In November 2020, Advanced Medical Solutions Group Plc, the surgical wound care company, has announced the acquisition of Raleigh Adhesive Coatings Ltd., independent wound care and bio-diagnostics company for around $30.65 million. This acquisition will strengthen the position of Advanced Medical Solution in the wound care sector by bringing specialist services to Raleigh.
- In October 2019, 3M Co., has announced that it has acquired Acelity, Inc. and its KCI subsidiaries across the globe for around $6.7 billion. Acelity is involved in producing KCI-branded products for advanced wound care and speciality surgical applications.
- In January 2018, — Mallinckrodt plc, a speciality pharmaceutical company, announced that it has done an agreement to sell its hemostasis products to Baxter International Inc. for approximately $185 million. The two products used in the control of bleeding in the surgical suite, named RECOTHROM Thrombin topical (Recombinant) and PREVELEAK Surgical Sealant, are also included in the transaction, as well as the manufacturing operation for PREVELEAK.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Surgical Sealants Market Report Segment
By Type
- Natural or Biological
o Fibrin Sealants
o Collagen Based Adhesives
o Gelatin Based Adhesives
- Synthetic and Semi-Synthetic Sealants
o Cyanoacrylates
o Polymeric Hydrogels
o Others (Polyethylene Glycol Polymer)
By Indication
- Surgical Hemostasis
- Tissue Sealing
- Tissue Engineering
By Application
- Central Nervous System (CNS) Surgeries
- General Surgeries
- Cardiovascular Surgeries
- Orthopedic Surgeries
- Cosmetic Surgeries
- Urological Surgery
- Pulmonary Surgeries
- Others (Ophthalmic Surgeries)
By End-User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
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