The fibrin glue market is likely to secure a CAGR of 5% during the forecast period. The market is projected to be valued at US$ 42 Bn in 2022 and likely to be valued at US$ 68.41 Bn by 2032.
Fibrin glue is a surgical sealant used to repair surgeries to heal interior and exterior muscle tissues. The key manufacturers are rising the development of fibrin glue due to the increase in the adoption of fibrin glue in the healthcare sector for treatment. In addition, the key manufacturers are raising production due to increasing numbers of accidents, burn bleeding and cosmetic surgery treatment are likely to increase the fibrin glue market size.
These manufacturers are likely to surge the growth of several end-use applications, including vascular surgery, burn-to-bleed, pulmonary surgery, wound management, orthopedic surgery, lacerations of the liver, and plastic surgery, among others. This implant device is developed by key medical manufacturers for the derivative of human as well as animal blood products during the forecast period.
The global fibrin glue market share is likely to increase due to the rise in the adoption of this device to heal, regenerate tissues and improve clot formation by natural process. It is one of the better solutions provided by key players that not only heal the wound but helps to reduce infection threats, improve cosmesis and minimize tissue trauma during the forecast period.
Recently, the fibrin sealant has been approved by the US FDA to use in cardiovascular surgeries and spleen trauma. On the other hand, North America dominates the market share by growing diabetic ulcers, chronic wounds and rising surgical procedures in the region during the forecast period.
The countries such as Canada & the US are the leading market countries in the rising production of fibrin glue due to the presence of several key manufacturers during the forecast period.
The adoption of technological advancement and growing innovation of devices by key manufacturers accelerated the demand for fibrin glue during the forecast period. Moreover, government initiatives and plans to increase healthcare expenditure also propelling the fibrin glue market growth in recent years.
The key companies invest in the market by capturing maximum output during the forecast period. These key companies are focusing on consumer behaviour and their requirements which are flourishing in the fibrin glue market size.
In addition, the fibrin glue market players are using various marketing tactics to expand their business size. Some of the essential marketing strategies adopted by them are partnerships, mergers, acquisitions, collaborations and product launches.
The leading key players in the fibrin glue market are Baxter international, matrix biopharmaceuticals inc, harvest technologies, CSL Behring, Haemcure corporation, Behring, Vivostat A/S, and interpore cross, among others.
| Attributes | Details |
|---|---|
| Fibrin Glue Market CAGR (2022 to 2032) | 5% |
| Fibrin Glue Market Value (2022) | US$ 42 Billion |
| Fibrin Glue Market Value (2032) | US$ 68.41 Billion |
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Fibrin glue is the type of surgical sealant used in sealing of wounds in surgical treatment. As the product name suggests sealants are the material used to seal something.
Surgical sealant is an implantable medical device used after traumatic injury or surgery, as to hold the internal and external tissues. In addition, surgical sealant on the basis of its composition can be further classified into fibrin glue and synthetic sealant.
Fibrin glue also known as fibrin sealant is a hemostatic agent,used in surgeries as adhesion material to close wounds by generating fibrin clot. Fibrin glue is a derivative of animal and human blood products.
Fibrin glue main ingredients include have purified fibrinogen (a protein) and purified thrombin (an enzyme). Some of thefibrin glue canalso have human blood factor XIII and aprotinin(substance derived from cow’s lung) as an ingredient.When fibrin glue is used in surgery, the compounds of the glue interact to form a stable clot called fibrin which is composed of a blood protein.
The globalfibrin glue market can be consider as a promoter of natural healing process as the wounds which are treated using fibrin glue are technically healed by tissues natural recovery process.
The global fibrin glue market can be segmented on the basis of end use which are pulmonary surgery, cardiac surgery, vascular surgery, lacerations of liver and spleen, burn bleeding, plastic surgery, orthopedic surgeries, neurosurgery, general surgery and wound management.
Cardiac surgery and burn bleeding dominates the global fibrin glue market. Growth of the health care industry in developing countries is anticipated to positively impact the global fibrin glue market.Characteristics of fibrin glue include high surface adherence strength, enhance tissue regeneration and clot formation, and good internal bonding strength.
The global fibrin glue market is geographically segmented into seven key regions which are, North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan and Middle East & Africa. North America with credit to its large number of age population holds the majority of share in the global fibrin glue market.
In North America region, rise in number of surgical procedures is also fueling the fibrin glue market. Asia-Pacific region is also expected to display a significant growth in the global fibrin glue market during the forecasted period.
Developing countries like India and China are expected to play a major role in the growth Asia –Pacific fibrin glue market. Rise in healthcare expenditure, growth in government funding and increasing no of patients are the key drivers of fibrin glue market in developing countries.A chance of contamination of glue with viruses in human is one of the demerits of fibrin glue which can be an inhibitor for the global fibrin glue market.
Moderate rise in health awareness globally is impacting the growth of fibrin glue market positively. However, increase in minimal invasive procedures such as laparoscopic surgeries, can inhibit the growth of global fibrin glue market.
Key players in the global base fibrin glue market include, Omrix Biopharmaceutical Inc., HaemcureCorporation, Baxter International Inc.,Harvest Technologies,Vivostat A/S,CryolifeInc.,CSL Behring, and Interpore Cross.
Fibrin glue market will rise with the growth of the countries and increase in healthcare expenses. The global fibrin glue market is anticipated to display a noticeable growth with a moderate CAGR.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors, along with market attractiveness within the segments. The report also maps the qualitative impact of various market factors on market segments and various geographies.
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Fibrin Glue Market
