The global surgical sealants market is expected to grow at a CAGR of 5.45% between 2018 and 2024. Surgical sealants help in the closure of surgical wounds and active bleeding during and post-surgery by using either biologically-derived or synthetic and semi-synthetic sealants.
This has replaced the use of sutures and staples which was otherwise a bit painful and may lead to infections too. Increasing demand for minimally-invasive surgeries is one of the driving factors of the global surgical sealants market. These sealants also help in the cost reduction as the patients’ recovery time as well as hospital stay is reduced.
A new technology named as MeTro surgical glue has recently come up which uses an elastin protein having high elastic property. This glue has a unique characteristic of turning into a gel which helps it in longer retention on the wound, allowing it to heal faster within 60 seconds.
This technology has been designed specially to heal surgical closures of the lungs, heart, and arteries which are otherwise very difficult and risky to re-open. The MeTro technology is developed by the biomedical engineers from the University of Sydney and the United States and will be commercialized by Elastagen Pty Ltd.
The maximum revenue generation of the surgical sealants come from the Americas, while the key players include Baxter International, CryoLife, C.R. Bard, CSL Behring, Cohera Medical and Johnson & Johnson.
By form, surgical sealants market is segmented as biological and synthetic. Biological sealants contain fibrin which serves as a template for accelerated wound healing, however as they are derived from animals or humans, they, therefore, contain an increased risk of disease transmission. On the other hand, synthetic sealants help to stop bleeding during surgeries by activating the blood clotting cascades and are estimated to hold a significant market share in the surgical sealants market.
Geographically, North America holds a significant market share owing to the early adoption of modern technologies and a larger population opting for surgical care. Asia Pacific region will grow at a substantial CAGR during the forecast period due to developing healthcare infrastructure in the region. Rising geriatric population and growing cases of road accidents in countries like China and India are augmenting the need for more surgeries, thereby positively impacting the demand for surgical sealants in the region.