The upsurge in the number of surgical procedures especially orthopedic surgeries due to the sports injuries and accidents and cardiac surgeries owing to a high prevalence of cardiovascular diseases are boosting the growth of the tissue sealants market globally. As per the OECD stats, in Canada, the number of surgeries performed was 378,448 during 2013 and it increased to 396,218 in 2017. In France, surgeries performed in 2014 were 773,308 and it raised to 863,837 by 2017. Similarly, other European countries, such as Spain, Italy, the Netherlands, etc., have also witnessed a rise in the number of surgeries performed. Furthermore, growing awareness about the tissue sealants, benefits and applications of tissue sealants, an increase in R&D investments in developing novel tissue sealants are also propelling the growth of the global tissue sealants market. They offer advantages, such as minimal blood loss, better closure, and easy and less painful operation without the need for removal. However, stringent regulatory scenario and high cost of the products acts as major restraints of the tissue sealants market.
Key Market Trends
Fibrin Sealant Dominates the Global Tissue Sealants Market
Fibrin sealants reconstruct the final phase of the blood coagulation cascade through the reaction of thrombin and fibrinogen at the wound spot to produce a cross-linked fibrin clot that stops bleeding. These products are generally indicated as an adjunct to hemostasis when control of bleeding by standard surgical techniques is ineffective or impractical. In orthopedic procedures, elective or urgent, bleeding is to be seriously considered, since usually both bones and soft tissues are injured or cut, so adapted haemostatic means have to be used. Fibrin sealants are known to decrease bleeding in total knee arthroplasty (TKA) compared with standard methods of hemostasis and can be used to establish hemostasis in a TKA lesion Some of the FDA-licensed Fibrin sealants are TISSEEL and ARTISS (Baxter Healthcare Corp.), EVICEL (Omrix Biopharmaceuticals, Ltd., a Johnson & Johnson company), and RAPLIXA (ProFibrix, BV. [The Medicines Company]). Advantages associated with the application of fibrin sealants are improved patient outcomes, negligible complications, and declined chances of mortality are attributed to propel the growth of the fibrin Sealants segment during the forecast period.
North America Dominates the Market
North America holds a leading position in the Tissue Sealants market during the forecast period owing to the increase in per capita health expenditures, the advancement in the healthcare infrastructure, increase in the number of bone injuries and sports injuries, and rise in number of hip and knee replacement surgeries in the United States have led to a swift growth of the global tissue sealants market. Over the time, Asia Pacific is expected to witness profitable progress due to the presence of untapped medical needs of the patient population of this region, and swiftly improving healthcare infrastructure in the emerging economies of India and China.
Tissue Sealants market is competitive with most of the players competing to increase market shares. Strong competition, rapid technological advancements are key factors that confront the market. Key developments of the market include, In November 2018, Medtronic launched the Veriset patch with brin sealant. In September 2018, Ethicon US, LLC., launched EVICEL Fibrin Sealant and In October 2018, Baxter launched TISSEEL a brin sealant with clinical safety and ecacy that surgeons rely on for use as an adjunct to hemostasis.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of the Joint and Bone Disorders Around the World
4.2.2 Technological Advancements in Cartilage Repair/Regeneration
4.2.3 Rapid increase in Geriatric Population
4.3 Market Restraints
4.3.1 High Costs of Cartilage Repair Procedures
4.3.2 Reimbursement Issues
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type of Sealent
5.1.1 Fibrin Sealants
5.1.2 Gelatin and Thrombin Mixtures
5.1.3 Polyethylene Glycol Polymers
5.1.5 Albumin and Glutaraldehyde Tissue Sealants
5.1.6 Other Types of Sealants
5.2.2 Cardiac Surgeries
5.2.4 Neuro Surgery
5.3.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.3.5 South America
22.214.171.124 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Avin Darou
6.1.2 Adhesys Medical GmbH
6.1.3 Becton, Dickinson and Company
6.1.4 Baxter International Inc.
6.1.5 Cohera Medical
6.1.7 CSL Behring
6.1.8 Johnson and Johnson (Ethicon Inc.)
6.1.9 Integra LifeSciences Corporation
6.1.10 Tissuemed Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.