Surgical Glue Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

According to Vision Research Reports, the global surgical glue market size was valued at US$ 2 Bn in 2019 and to reach US$ 3 billion by 2028 with a CAGR of 5.3% during the forecast period 2021 to 2028.

Rise in prevention of blood loss during surgeries is anticipated to drive the global surgical glue market in the near future.

A Key Driver

  • Blood transfusion has been a common therapeutic intervention, and mainstay used for the treatment of perioperative anemia and surgical blood loss. Anemia in acute and chronic conditions is associated with increased risk of morbidity and mortality.
  • Pathophysiology of blood transfusion in the perioperative period is complex and it is not completely understood yet. The existing therapies for the same have not produced any demonstrable improvement in the outcome.
  • Rise in the rate of morbidity and mortality associated with blood transfusion can be attributed to increased susceptibility and transmission of infections, transfusion reactions, altered immune response, circulatory overload, and transfusion-related acute lung injury, which result in longer hospital stays and risen expenses
  • Furthermore, overutilization of components of blood is widening the gap between supply and demand for products
  • The World Health Organization (WHO) has recognized patient blood management as the new standard of care (World Health Alliance resolution A 63.12). The WHO has urged all its 193 member countries to implement this new standard.
  • All these factors are projected to drive the global surgical glue market during the forecast period

Increase in Adoption of Minimally Invasive Procedures to Hamper Surgical Glue Market

  • In a minimally invasive surgery, doctors use a variety of techniques so as to cause less damage to the body compared to an open surgery. In general, minimally invasive surgeries are associated with less pain, shorter hospital stays, and fewer complications.
  • In a minimally invasive surgery, smaller surgical incisions are made and these surgeries are generally less risky than traditional surgeries. However, even with minimally invasive surgeries, a risk of complications associated with anesthesia, bleeding, and infection is involved.
  • Thus, growing adoption of minimally invasive surgeries is estimated to hamper the global surgical glue market during the forecast period

Lack of Reimbursements

  • Unlike pharmaceuticals and devices, which are often developed by companies with specific marketing goals or strategies, surgical procedures are developed in a more diffuse and less ‘market-oriented’ manner. Similarly, the entry of drugs and devices into the market is regulated significantly by formal and often costly and time-consuming procedures.
  • Evaluation of new surgical procedures remains much less formal than that of drugs and devices. Drugs are classically evaluated through a double-blind, randomized, and controlled trial. New devices can be evaluated in the same manner, although it is much more difficult to blind investigators and use placebos. With surgical procedures, randomization is highly difficult under reasonable ethical guidelines. Moreover, the number of cases evaluated is typically less than the number of drug and device evaluations.

The cyanoacrylates sub-segment held a major share of the synthetic & semi-synthetic adhesives and sealants product segment of the surgical glue market in 2020. This sub-segment is likely to maintain its dominance during the forecast period, owing to the increase in its usage in different types of surgeries for various indication. User-friendliness and safe application of surgical glues have resulted in their greater adoption, as compared to traditional wound closure methods. The cyanoacrylates sub-segment is anticipated to grow at a rapid pace during the forecast period. The fibrin sealants sub-segment held a significant share of the natural adhesives and sealants product segment of the surgical glue market and it is likely to expand at a moderate CAGR between 2019 and 2028. The expansion of this sub-segment can be attributed to the rise in surgeries.

In terms of indication, the hemostasis segment held a major share of the global surgical glue market in 2020. This can be attributed to their advantages such as easy-to-use, and no trauma to the internal body organs and vessels. Moreover, the ergonomic design of these products offers high stability.

Based on application, the cardiovascular surgery segment held a major share of the global surgical glue market in 2020. This segment is likely to maintain its dominance during the forecast period. Rise in incidence of diseases correspondingly drives the number of surgical procedures performed, thereby, boosting the usage of surgical glues in surgeries and mainly, cardiovascular procedures globally. It has been a standard procedure in most medical centers providing surgical services for several years. Both the range and the number of surgical procedures performed are constantly increasing, which is driving the segment.

In terms of end user, the hospitals segment held a major share of the surgical glue market in 2020. Hospital providers are more likely to have experience with trauma patients and emergency measures than surgery center providers. Ambulatory surgery centers (ASCs) are outpatient facilities that offer surgical procedures to patients at reduced costs, often with greater scheduling flexibility than hospitals.

Prominent Regions

North America held a major share of the global surgical glue market in 2020. Presence of key market players, a highly structured healthcare industry, and key developments by market players are the primary driving factors for the market in the region. Rise in awareness regarding benefits of surgeries and procedures and increase in healthcare expenditure are propelling the growth of the regional market. These factors are anticipated to drive the surgical glue market in the region.

Europe held the second largest share of the global surgical glue market in 2020. The growth of the surgical glue market in the region can be attributed to the increase in prevalence of chronic diseases and a well-developed healthcare sector in the region. Asia Pacific accounted for a significant share of the surgical glue market in 2020 and the market in the region is expected to grow at a rapid pace during the forecast period. Increase in the number of people with cardiovascular diseases, product approvals, and rise in awareness about cardiovascular diseases are factors anticipated to fuel the growth of the surgical glue market in the region.

Key Players

Key players are expanding their global footprint to strengthen their position in the surgical glue market. Increase in the number of patient population and development of new effective surgical glue offer lucrative opportunities to key players to increase their share in the surgical glue market. Manufacturers are engaging in new product development, collaborations, and distribution. In January 2017, Johnson & Johnson acquired Action Ltd. This acquisition enabled the company to enhance its cardiovascular and metabolic therapeutic segments portfolios.

Prominent players operating in the global surgical glue market include Baxter, Braun Melsungen, Cardinal Health, CR. Bard, Johnson & Johnson, OptMed, Inc., Advanced Medical Solutions Group plc, CryoLife, Integra LifeSciences, and Medtronic.

Market Segmentation

Surgical Glue Market, by Product

  • Natural Adhesives and Sealants
    • Fibrin Sealants
    • Collagen-based Adhesives
    • Gelatin-based Adhesives
  • Synthetic & Semi-synthetic Adhesives and Sealants
    • Cyanoacrylates
    • Hydrogels
    • Polyurethane-based Adhesives

Surgical Glue Market, by Indication

  • Hemostasis
  • Tissue Sealing

Surgical Glue Market, by Application

  • Cardiovascular Surgery
  • Plastic Surgery
  • Liver & Spleen Lacerations
  • Orthopedic Surgery
  • Burn Bleeding
  • Wound Management
  • General Surgery
  • Others

Surgical Glue Market, by End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics

Surgical Glue Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Report Scope

The Surgical glue market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Surgical glue market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Surgical glue market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Surgical glue market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Surgical glue market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Surgical glue capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Surgical glue by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Surgical glue market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Surgical glue market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Surgical glue market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Surgical glue industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Surgical glue market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Surgical glue market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Surgical glue market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Surgical glue market. These factors have benefited the growth of the global market for Surgical glue. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Surgical glue. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Surgical glue are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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