Fibrin Sealant Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the Fibrin Sealant Market was valued at USD 561.1. million in 2022, and a CAGR of 8.7% is expected during the forecast period. It is a hemostatic agent, and the and the rise in general surgery, cardiovascular surgery, plastic surgery, and various other types of surgeries like cardiovascular surgeries is driving significant growth in the market. The increasing number of cardiac patients and the increasing number of road accident cases all over the world are driving significant growth in the market.

There is an increasing demand for fibrin sealant in the production, distribution, and use of fibrin sealants, also known as fibrin glues or tissue adhesive. These are biological products used in medical procedures to promote blood clotting and tissue sealing. Advancements in surgical techniques are driving the growth of the market significantly. Major players in the fibrin sealant market include both pharmaceutical companies and biotechnology firms. Since surgical procedures have become more common, this market is growing significantly. Increasing disposable income in all developed countries and developing economies has inspired people to opt for plastic surgery if needed, which was considered a costly procedure in the past.

Growth Drivers

The increasing number of road accidents, rapidly growing cardiovascular cases, and increasing demand for minimally invasive procedures are driving significant growth in the market. Since surgical procedures have become more common due to the increasing number of caesarian delivery cases, the increasing number of cases of plastic surgeries and general surgeries is driving growth in the market significantly. The rise in surgical procedures globally, including complex surgeries, is a significant driver.

Fibrin sealants are widely used to promote hemostasis, tissue sealing, and wound healing, which enhances their demand. Improvements in healthcare infrastructure, especially in developing regions, are contributing to the adoption of advanced surgical techniques, where fibrin sealants play a crucial role. It includes both traditional surgical settings. A growing number of geriatric people are more injury-prone to chronic diseases. These people require more special treatment. Ongoing research and development efforts are leading to technological advancements in fibrin sealant products.

Fibrin sealants are being explored for new applications beyond traditional surgery, such as wound management, plastic surgery, and tissue engineering. Collaborations between pharmaceutical companies, biotechnology firms, and academic institutions are fostering growth in the market, accelerating product innovations, and expanding market reach.

Greater awareness among surgeons and healthcare providers about the benefits of fibrin sealant in reducing surgical complications, improving patient outcomes, and minimizing recovery time is driving significant growth in the market. Stringent regulatory approvals ensure the safety and efficacy of fibrin sealant products, which enhances trust among healthcare professionals and encourages their adoption in clinical practices.

Segmentation

By Applications

·         General Surgery

·         Cardiovascular Surgery

·         Wound Management

·         Orthopedic Surgery

·         Urological Surgeries

·         Opthalmic Surgeries

·         Other Players

By End-User

·         Hospitals

·         Ambulatory Surgical Centers

·         Clinics

By Dosage Form

·         Liquid

·         Patch

·         Powder

Regional Outlook

·         North America

·         Asia Pacific

·         Middle East and Africa

·         Europe

·         Latin America

Fibrin Sealant Market End-User Segmentation

On the basis of the end-user, the fibrin sealant market is segmented into hospitals, clinics, and ambulatory surgical centers. Hospitals are the leading segment, and the increasing number of surgeries in hospitals all over the world due to the better healthcare facilities available in hospitals is driving growth in the market significantly.

Increasing demand for minimally invasive procedures and rising healthcare expenditures all over the world are driving growth in hospital infrastructure. Clinics and ambulatory surgical centers are also witnessing growth due to the increasing number of emergency cases like heart attacks, and road accidents are driving growth in the market.

Fibrin Sealant Market by Application Segmentation

On the basis of application, the fibrin sealant market is segmented into general surgery, cardiovascular surgery, wound management, orthopedic surgery, urological surgery, and ophthalmic surgery. The increasing number of cardiac arrests and the increasing number of heart patients due to lifestyle imbalances are driving growth in the market. General surgery and orthopedic surgeries are also witnessing growth during the forecast period due to the rapidly growing population in the world. Wound management has become an important issue for healthcare professionals.

The increasing number of chronic disease patients and the increasing demand for minimally invasive procedures are driving growth in the market. Fibrin sealants are increasingly in demand due to rapidly improving healthcare infrastructure and increasing health awareness among people. Fibrin sealants are driving growth in the market due to increasing demand for them during minimally invasive procedures during surgeries.

Regional Outlook

On the basis of the regions, the fibrin sealant market is segmented into 5 parts: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. North America is the leading segment in the market and is expected to dominate the market during the forecast period. The rise in the number of chronic health diseases and geriatric people suffering from cardiac diseases is driving growth in the market significantly. Robust healthcare infrastructure, technological advancements, and the presence of key players are driving growth in the market significantly.

The United States of America is experiencing significant growth in the market due to the most skilled doctors and advanced healthcare infrastructure in the world. Asia Pacific is also witnessing significant growth due to the presence of emerging economies like China, India, and South Korea. Increasing urbanization and rising healthcare expenditure by the government are driving demand for fibrin sealants. The increasing number of aging people in the region due to the rapidly increasing population is driving growth in the market.

The increasing demand for minimally invasive procedures and the increasing number of road accident cases, along with the rising prevalence of chronic diseases, are also driving the market's growth significantly. The European Region, including countries like Italy, England, Russia, France, Germany, and Nordic countries, is experiencing significant growth due to one of the best health infrastructures worldwide. The Middle East, Africa, and Latin America are also witnessing significant growth during the forecast period due to increasing demand for fibrin sealant during surgeries.

Key Players

·         Corza Medicals

·         Nordon Corporation

·         Shanghai RaaS Blood Products Co. Ltd.

·         Becton Dickinson and Company

·         Johnson and Johnson

·         Hemarus Therapeutics Ltd.

·         Baxter International Inc.

·         Grifols S.A.

·         Vivostat A/S

·         Other Players