Global Gelatin Sponge Market, By Origin (Porcine, Bovine), By Application (Minimally Invasive Surgery, General Surgery, Neuro Surgery, Cardiovascular Surgery, Orthopedic Surgery and Others (ENT, Surgery, etc.)), By End User (Hospitals, Specialty Clinics, and Others (Ambulatory Surgical Centers, etc.)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 235.9 Million in 2023 and is expected to exhibit a CAGR of 6.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Key market players are focusing on adopting growth strategies, such as distribution agreements, which will drive the global gelatin sponge market. For instance, in September 2022, Azelis, a provider of specialty chemicals, announced a distribution agreement with GELITA, a global leader in the production of gelatin and collagen products. Azelis will be entrusted with the distribution activities for all gelatin products for the pharmaceutical and nutraceutical industries in France. Global Gelatin Sponge Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
The COVID-19 pandemic had a negative impact on the global gelatin sponge market, owing to a decrease in surgical procedures during COVID-19. For instance, according to an article published in the Lancet Rheumatology Journal in February 2021, in Europe, around 100,000 joint replacement surgeries were cancelled during the first COVID-19 wave of 2020. These factors are expected to affect the demand for gelatin sponges, and thereby hamper market growth.
Global gelatin Sponge Market: Key Developments
- For instance, in December 2022, Merit Medical Systems, a medical device company, announced the enrollment of the first patient in the company’s prospective, observational study of EmboCube embolization gelatin to control bleeding or hemorrhage.
Browse 37 Market Data Tables and 33 Figures spread through 170 Pages and in-depth TOC on “Global Gelatin Sponge Market”- Forecast to 2030, Global Gelatin Sponge Market, By Origin (Porcine, Bovine), By Application (Minimally Invasive Surgery, General Surgery, Neuro Surgery, Cardiovascular Surgery, Orthopedic Surgery and Others (ENT, Surgery, etc.)), By End User (Hospitals, Specialty Clinics, and Others (Ambulatory Surgical Centers, etc.)), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/gelatin-sponge-market-4260
Key Takeaways of the Global Gelatin Sponge Market:
- The global gelatin sponge market is expected to exhibit a CAGR of 6.4% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global gelatin sponge market.
- Among application, minimally invasive surgery segment is expected to hold a dominant position in the global gelatin sponge market during the forecast period, and this is attributed to increasing minimally invasive procedures. For instance, according to the study published by the National Center for Biotechnology Information, in October 2020, over the course of a 16-year period (Upto December 2019), the combined average residency case volumes for the minimally invasive procedures examined exhibited a notable increase, rising from 270 to 368 cases, indicating growth of 36%. Specifically, the total number of laparoscopic cases experienced a substantial surge, increasing from 133 to 280 cases in U.S. This increase represents a remarkable 111% growth for minimally invasive procedures such as through radiation therapy, chemotherapy, or surgery.
- Among regions, North America holds a 43.2% market share, owing to the increasing prevalence of cardiac diseases in this region. For instance, in August 2022, according to an article published by the New York State Department of Health, about 697,000 people die due to cardiac disease in the U.S. every year.
- Major players operating in the global gelatin sponge market are Pfizer Inc., B. Braun SE, GELITA MEDICAL, CuraMedical B.V., Aegis Lifesciences, Angellifescience, EON Meditech, GOODWILL LIFESCIENCES PVT. LTD, Mil Laboratories Pvt. Ltd., EUCARE PHARMACEUTICALS (P) LTD., Medzeel Lifescience, Healthium Medtech Limited, Aegis Lifesciences, Omnia Health, and Advin Health Care
