NEW YORK, March 19, 2018 (GLOBE NEWSWIRE) — According to the research report published by P&S Market Research, global surgical glue market is projected to reach $6,936.5 million by 2023, the market growth is mainly driven by the rise in number of surgical procedures and burn cases along with increasing incidence of road accidents globally.
Surgical glue is a special kind of medical adhesive or sealant which is used in facilitating closing and healing of wounds or surgical incisions. It is a capable option for replacing sutures and staples in healing minor cuts and incisions.
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The cyanoacrylate is expected to be the highest growing category in the surgical glue market during the forecast period, due to its durability, strength, and waterproof nature. Increasing use of cyanoacrylate by end users in the adhesion and repair of tissues and blood vessels; plastic surgeries; topical or minor lacerations; surgical incisions; and ophthalmology is primarily driving its growth in the market.
Cardiac surgery application is expected to be the fastest growing category in the surgical glue market, with a CAGR of 11.8% during the forecast period. This is attributed to global increase in cases of heart associated problems owing to prevalence of high blood pressure, high LDL cholesterol, and smoking habits among people.
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Hospitals held the largest share during the historical period and is estimated to account for more than 80.0% of the surgical glue market in 2017. This can be attributed to the wide range of major surgeries performed in hospitals using surgical glue.
The surgical glue market is expected to witness the highest growth in APAC, with a CAGR of 11.6% during the forecast period, attributed to growing geriatric population, rising incidence of road accidents and burns cases, and increasing per capita income in the region. Also, the region is estimated to hold a share of more than 20.0% in the market by 2023, to become the second largest regional surgical glue market after North America.
Rising health awareness and high prevalence of diseases (such as skin diseases, cancer, heart diseases, and respiratory diseases) have increased the possibilities of surgeries in various economies. According to the World Bank, in 2015, the number of surgical procedures per 100,000 people in Brazil was 13,940. Similarly, the number of surgical procedures per 100,000 people was 2,732 in China in 2012 and was 1,303 in Mexico in 2015. Therefore, improvement in healthcare facilities in developed and emerging economies is projected to contribute to the surgical glue market growth in the upcoming years.
Some of the major players operating in the global surgical glue market are Advanced Medical Solutions Group PLC, B. Braun Melsungen AG, Baxter International Inc., C. R. Bard Inc., Cardinal Health Inc., Cohera Medical Inc., CryoLife Inc., Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic PLC, and Takeda Pharmaceutical Company Limited.
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