The global surgical glue market is expected to grow at a CAGR of 10.7% during the forecast period with its market size predicted to reach USD 7,835.1 million by 2024. The increasing expenditure on healthcare, increasing pervasiveness of several disorders for instance cardiovascular diseases, increasing requirement in patients to manage blood loss and obesity are the major factors that are contributing to the growth of the global surgical glue market.
Increasing number of cases for traumatic wounds across the globe
Growing number of cases for traumatic wounds across the globe are the major factors that are contributing to the growth of the global surgical glue market. According to a report published in 2014 by the Centers for Disease Control and Prevention (CDC), around 3 million people were hospitalized due to wounds.
As a result the demand for surgical glues is gaining excessive growth in these situations thereby contributing towards the growth of the global surgical glue market. Moreover, surgical glues offer several advantages such as having exceptional characteristics that include an increase in biocompatibility, degradation, bond strength and versatility as compared to that offered by the conventional sutures and staples on wounds.
However, introduction of extensive stringent regulations and increased safety and environment concerns are expected to further hinder the growth of surgical glue market across the globe.
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Surgical glue is used in case of traumatic injuries and surgeries that avoid leakage of liquids or air in the wounds. Surgical glues are categorized in various forms such as fibrin sealants, hydrogels, cyanoacrylates, collagen-based compounds, and glutaraldehyde glues. Moreover, increasing number of cases owing to innovation in these glues such as the U.S. scientists has recently established highly elastic surgical glue that is able to rapidly heal toughest injuries within seconds without the use of staples and stitches.
Cardiac surgery category accounted for the largest revenue share in the global surgical glue market
On the basis of application, the surgical glue market is categorized into cardiac surgery, pulmonary surgery, vascular surgery, liver and spleen lacerations, orthopedic surgery, burn bleeding, plastic surgery, wound management, neurosurgery, general surgery, and others. Among all these segments, cardiac surgery was projected to be the largest application area of surgical area during the historical period and is further estimated to contribute share of more than 24.0% in the global surgical glue market in 2018.
Additionally, the increasing pervasiveness of cardiac-related diseases across the globe is thus excessively contributing towards the enlargement of surgical glue market.
On the basis of type, fibrin sealant category 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.
Geographically, Asia-Pacific is expected to witness the fastest growth in the global surgical glue market owing to increasing geriatric population, increasing emphasis of key market players in the developing countries of this regions, escalating demand for surgical intermediations, extensive industrial growth and increasing implementation of progressive and upgraded medical devices due to rapid demand for superior quality products are the significant factors driving the growth of this market in this region.
Moreover, North America is the largest revenue contributor in the global surgical glue market due to increasing demand of these glues in the region specifically the glue that are tissue friendly. Due to 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.
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., Johnson & Johnson, and Medtronic PLC.
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The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million). The report segments the global surgical glue market on the basis of type, application, end-user, and region.
Global Surgical Glue Market Coverage
Type Insight and Forecast 2014 - 2024
Application Insight and Forecast 2014 - 2024
End-User Insight and Forecast 2014 - 2024
Surgical Glue Market by Region
Rest of the World (RoW)