Pune India, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the surgical glue market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the surgical glue market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product type, application, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global surgical glue market CSL Limited, Sanofi, CryoLife Inc., Baxter International Inc., Johnson & Johnson, Sealants Ltd., Cohera Medical, Inc., B. Braun Melsungen AG, Vivostat, Ocular Therapeutics Inc. among others. To achieve a substantial market share in the worldwide surgical glue market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The growth of the surgical glue market can be attributed to an increase in healthcare infrastructure expenditures. There are several factors constricting the market, including increasing minimally invasive procedures and side effects associated with surgical glue, such as mild heat sensation and increased risk of wounds reopening after placement. Many researchers are working on making surgical glues more effective and efficient for instance researchers in the U.S. recently developed a highly elastic surgical glue that seals even tough wounds in minutes without stitches or staples. When treated with UV light, the new glue, known as MeTro, binds wounds in 60 seconds. In the glue, a degrading enzyme is contained, and once the wound is healed, it dissolves. The glue, made with a special material, can last for hours to months. Also, the surgical glue market has grown largely as a result of its accessibility and availability across the globe. As a result of the increasing disposable income of residents of developed and developing countries and an increasing number of health issues, the citizens of both countries spend extensive amounts on healthcare services. Market revenue is expected to grow due to the high demand for glue for exhibiting robust performance in vitro and in vivo for cosmetics and hemostatic applications.
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Scope of Surgical Glue Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | CSL Limited, Sanofi, CryoLife Inc., Baxter International Inc., Johnson & Johnson, Sealants Ltd., Cohera Medical, Inc., B. Braun Melsungen AG, Vivostat, Ocular Therapeutics Inc., among others |
Segmentation Analysis
Synthetic & semi-synthetic adhesives & sealants are expected to be the fastest-growing segment in 2022.
The product type segments include natural adhesives & sealants and synthetic & semi-synthetic adhesives & sealants. The synthetic & semi-synthetic adhesives & sealants segment is expected to witness the highest growth rate during the forecast period. As a result of the increased number of children being circumcised, the demand for synthetic and semi-synthetic adhesives and sealants is expected to grow rapidly during the forecasted period. As pediatricians begin to prescribe cyanoacrylate adhesives for treating wounds and cuts in children, the number of circumcisions is expected to increase as well.
Food is expected to be the fastest-growing segment in 2022.
The application segments include neurosurgery, burn bleeding, cardiovascular surgery, pulmonary surgery, liver and spleen laceration, plastic surgery, wound healing, and others. The cardiovascular surgery segment is expected to witness the highest growth rate during the forecast period. It is expected that the cardiovascular surgery segment will grow significantly over the forecast period, as the number of patients suffering from CVDs is increasing, resulting in an increase in cardiovascular surgeries. In addition to reducing blood loss post-surgery, surgical hemostats can also prevent tissue damage.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the surgical glue market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. There was a dominant market for surgical glue in North America during the forecast period, and North America is expected to maintain its dominance during the forecast period. Several factors contribute to the growth of the medical adhesive market, including an increase in R&D investments in medical adhesives and their applications in different surgeries.
Country Analysis
- Germany
Germany's surgical glue market size was valued at USD 0.15 billion in 2021 and is expected to reach USD 2.26 billion by 2029, at a CAGR of 7.3% from 2023 to 2030.
The surgical glue market in the country is expected to be driven by product line extension and new product innovations. The increasing healthcare expenditures per capita and cost containment measures to reduce the burden of healthcare in the country are also expected to boost market growth.
- China
China’s surgical glue market size was valued at USD 0.19 billion in 2021 and is expected to reach USD 2.33 billion by 2029, at a CAGR of 7.5% from 2023 to 2030.
As a result of the growing population of the country, the country has adopted and advanced technology; the number of people suffering from obesity, cancer, and other deadly diseases has increased. Traumatic injuries are on the rise, disposable medical devices are being used more frequently, and advanced medical equipment and devices are becoming more commonplace.
- India
India's surgical glue market size was valued at USD 0.14 billion in 2021 and is expected to reach USD 2.24 billion by 2029, at a CAGR of 7.4% from 2023 to 2030.
In India, as a result of high disposable income, advancements in healthcare infrastructure increased awareness and an increase in traumatic injuries, the surgical glue market is expected to grow over the forecast period.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand from the automobile and agriculture sector, propelling the growth of the market across the countries.
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