Press release
Fibrin Sealants Market Set to Reach $1.61 Billion by 2029 with 8.1% Yearly Growth
In recent times, the fibrin sealants market has seen considerable growth. The market is poised to expand from $1.08 billion in 2024 to $1.17 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.4%. The historic expansion has been as a result of factors such as increases in medical tourism, enhancement of healthcare infrastructure, a rise in elective surgical procedures, amplified chronic disease occurrence, and increased demand for quick hemostasis solutions.
The market size for fibrin sealants is anticipated to surge significantly in the upcoming years, expanding to $1.61 billion in 2029 with an 8.1% compound annual growth rate (CAGR). This projected growth during the forecast period is due to factors such as a rise in cosmetic surgeries, a growing elderly population, an increase in CABG occurrences, a surge in blood-related disorders, and an upswing in the number of dental surgeries. The key trends that would shape the forecast period include technological innovations, advanced hemostatic procedures, personalized healthcare, digital health technology, and the advent of robotic-assisted surgeries.
What Are the Forces Behind the Rapid Growth of the Fibrin Sealants Market?
The fibrin sealants market's progress is projected to be fueled by the surge in cosmetic surgeries. These surgeries are designed mainly to enhance or modify an individual's look. The rise in these surgeries can be attributed to society's focus on appearance, improved surgical methods, and the increasing availability of minimally invasive procedures. Fibrin sealants are beneficial in these surgeries as they stimulate quicker wound recovery, lessen bleeding, and reduce scarring, thereby improving surgical results and patient recuperation. For example, as per the US-based American Society of Plastic Surgeons, CosmetAssure, in September 2023, liposuction continued to be the most sought-after plastic surgery procedure in 2023, with 347,782 procedures carried out, marking a 7% rise from 2022. Tummy tucks also observed a 5% increase, with 170,110 procedures performed. Consequently, the augmentation in the number of cosmetic surgeries propels the fibrin sealants market.
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Who Are the Dominant Companies Influencing Fibrin Sealants Market Trends?
Major companies operating in the fibrin sealants market are Johnson & Johnson, Takeda Pharmaceutical Company Limited, Asahi Kasei Medical Co. Ltd., Baxter International Inc., CSL Behring, Grifols S.A., Sigma-Aldrich, Nordson Corporation, Integra LifeSciences Corporation, Shanghai RAAS Blood Products Co. Ltd., Mallinckrodt Pharmaceuticals, Biotest AG, LFB Group, Hualan Biological Engineering Inc., Corza Medical, Aesculap Inc., Ethicon Inc., CryoLife Inc., VIVEX Biologics Inc., MediWound Ltd., Cohesion Technologies Inc.
How Is the Fibrin Sealants Market Evolving?
Major corporations in the fibrin sealants industry are inventing hemostatic agents to halt bleeding instantly upon touch. These agents are substances or materials that stimulate blood coagulation at a wound or surgery incision location. For example, in February 2022, Swasth Kare, a firm based in India that specializes in hemostatic agent production, introduced SeraSeal, a creation of Wortham Laboratories. Wortham Laboratories is also a company based in India that focuses on designing hemostatic wound recovery and coagulation products. SeraSeal, a fibrin sealant, is engineered to cease bleeding immediately, leading to hemostasis within seconds, applicable even in arterial hemorrhages. This fast efficacy can be of vital importance in emergency situations where time is of the essence. SeraSeal's transparent properties give surgeons a clear view of the hemorrhage site, consequently aiding in better judgments during operations.
What Are the Different Segmentations in the Fibrin Sealants Market?
The fibrin sealantsmarket covered in this report is segmented -
1) By Type: Liquid, Patch, Powder
2) By Technology: Autologous Donation, Viral Inactivation, Recombinant Production, Other Technologies
3) By Application: General Surgery, Cardiovascular Surgery, Wound Management, Orthopedic Surgery, Urological Surgeries, Ophthalmic Surgeries, Transplant Surgery, Other Applications
4) By End-User: Hospitals, Ambulatory Surgical Centers, Other End-Users
Subsegments:
1) By Liquid: Bovine-Derived Liquid Sealants, Human-Derived Liquid Sealants, Synthetic Liquid Sealants, Recombinant Fibrin Sealants
2) By Patch: Bovine-Derived Fibrin Patches, Human-Derived Fibrin Patches, Synthetic Fibrin Patches, Bioabsorbable Fibrin Patches
3) By Powder: Bovine-Derived Fibrin Powder, Human-Derived Fibrin Powder, Synthetic Fibrin Powder, Recombinant Fibrin Powder
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What Is the Leading Region in the Fibrin Sealants Market?
North America was the largest region in the fibrin sealants market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fibrin sealants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Fibrin Sealants Global Market Report?
- Market Size Analysis: Analyze the Fibrin Sealants Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Fibrin Sealants Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Fibrin Sealants Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Fibrin Sealants Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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