Surgical Hemostats, Internal Tissue Sealants, and Adhesion Barriers Market, By Product Type (Hemostats (Thrombin Based, Combination Hemostats, Oxidized Regenerated Cellulose Based, Gelatin Based, Collagen Based), Internal Tissue Sealants (Fibrin Based, Collagen Based, Protein Based, Synthetic Polymer Based), Adhesion Barriers (Film Based, Gel Based, Solution Based)), By Application (Surgical Applications (Cardiovascular Surgeries, Neurological Surgeries, Orthopedic Surgeries, Urological & Gynecological Surgeries, General Surgeries, Reconstructive, and Plastic Surgeries, Others), Trauma Cases), By End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) is estimated to be valued at US$ 5,265.3 Million in 2023 and is expected to exhibit a CAGR of 7.8 % during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The initiatives by key market players to enhance their product portfolio through strategies like acquisitions can drive the growth of the global surgical hemostats internal tissue sealants and adhesion barriers market over the forecast period. For instance, on July 29, 2021, Baxter International Inc., a U.S.-based surgical care product manufacturing company, announced the acquisition of certain assets of CryoLife Inc., a U.S.-based medical device company, regarding PerClot Polysaccharide Hemostatic System for US$ 60.8 million, including US$ 25 million paid upfront. The remainder will be paid out upon achievement of certain milestones. PerClot launched Baxter into the hemostatic powder segment and also expanded its surgical products offerings.
Global Surgical Hemostats, Internal Tissue Sealants, and Adhesion Barriers 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 drugs from one place to another.
COVID-19 had a negative impact on the global surgical hemostats, internal tissue sealants, and adhesion barriers market. This is because of the reduced number of patients admitted to hospitals for injuries or bleeding during the COVID period. For instance, according to an article published in the Journal Children, on March 9, 2022, a study was conducted in multiple German children's hospitals between September 2020 to February 2021. Patients admitted to intensive care units due to accidents or injuries were observed. It was concluded that during the lockdown, the total burden of accidental and injury-related intensive care unit admissions slightly declined. Surgeries related to soft tissue were reduced from 18.5 to 17.9 %. While surgeries like head and neurosurgery were reduced from 3.3 to 2.3 and 8.0 to 5.8 % respectively
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Global Surgical Hemostats, Internal Tissue Sealants, and Adhesion Barriers Market: Key Developments
Strategies like mergers and acquisitions can increase the reach of the products and customer base of acquiring company hence the product can reach more regions. This is expected to boost market growth during the forecast period.
For instance, on February 18, 2020, Baxter International Inc., a U.S.-based surgical care product manufacturing company, completed the acquisition of Seprafilm Adhesion Barrier and related assets from Sanofi, France-based pharmaceutical company, for US$ 350 million. Seprafilm Adhesion Barrier is used as an adjunct to reduce the incidence, extent, and severity of adhesions in certain pelvic and abdominal surgeries. This acquisition enhances hemostat and sealant portfolio of Baxter International.
Browse 37 Market Data Tables and 30 Figures spread through 150 Pages and in-depth TOC on “Global Surgical Hemostats, Internal Tissue Sealants and Adhesion Barriers Market ”- Forecast to 2030, Global Surgical Hemostats, Internal Tissue Sealants and Adhesion Barriers Market , By Product Type (Hemostats (Thrombin Based, Combination Hemostats, Oxidized Regenerated Cellulose Based, Gelatin Based, Collagen Based), Internal Tissue Sealants (Fibrin Based, Collagen Based, Protein Based, Synthetic Polymer Based), Adhesion Barriers (Film Based, Gel Based, Solution Based)), By Application (Surgical Applications (Cardiovascular Surgeries, Neurological Surgeries, Orthopedic Surgeries, Urological & Gynecological Surgeries, General Surgeries, Reconstructive and Plastic Surgeries, Others), Trauma Cases), By End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Key Takeaways of the Global Surgical Hemostats, Internal Tissue Sealants And Adhesion Barriers Market:
- The global surgical hemostats internal tissue sealants and adhesion barriers market is expected to exhibit a CAGR of 8 % during the forecast period. The programs conducted by U.S. Food and Drug Administration (FDA) to develop an effective treatment can improve research and development activities and offers lucrative growth opportunities for players in the global surgical hemostats, internal tissue sealants and adhesion barriers market. For instance, U.S. FDA has started The Breakthrough Devices Program, a voluntary program for certain medical devices and device-led combination products that provide for more effective treatment or diagnosis of life-threatening or irreversibly debilitating diseases or conditions. On January 12, 2023, Medura Inc., a U.S.-based medical device company, received U.S. Food and Drug Administration (FDA)‘s Breakthrough Device Designation for its LifeGel Absorbable Surgical Hemostat. Due to its no-swell properties, LifeGel can be used in surgical procedures where swelling cannot be tolerated.
- Among product type, hemostat segment is expected to grow in the global surgical hemostats internal tissue sealants and adhesion barriers market over the forecast period. This is because increasing launches of newer surgical hemostats. For instance, on March 21, 2023, Advamedica, a U.S.-based medical equipment manufacturer, announced that it received U.S. FDA approval for its product, Ax-Surgi Surgical Hemostat. It is a chitosan-based hemostat for controlling severe surgical bleeding. It is a novel biopolymer platform and controls bleeding through its bioadhesive action. It is indicated for temporary control of internal organ space bleeding for patients displaying Class III (gross blood loss, requires severe transfusion) or Class IV (debilitating blood loss, retinal or cerebral associated with a fatality) bleeding. It can also be used for the control of severely bleeding wounds such as surgical wounds and traumatic injuries.
- Among region, North America is expected to be the dominant region in the global surgical hemostats internal tissue sealants and adhesion barriers market, owing to the increasing research activities in this region. For instance, on April 13, 2023, BC3 Technologies, a U.S.-based medical devices company, received U.S. FDA clearance for SEAL Hemostatic Wound Spray. The chitosan-based aerosol spray can be used for rapidly managing serious arterial bleeding, according to the company. When sprayed on a bleeding wound, SEAL quickly forms a strong barrier that helps stop bleeding within seconds, without pain and reduces the risk of wound infections by preventing the growth of harmful bacteria. SEAL can be used by first responders, in surgical environments, or battlefield combat.
Major players operating in the global surgical hemostats internal tissue sealants and adhesion barriers market include Ethicon (Johnson & Johnson), Baxter International Inc., Integra LifeSciences Holdings Corporation, Pfizer Inc., Tissuemed Ltd., Sanofi, Braun Melsungen AG, C.R. Bard, Inc., CryoLife, Inc., Cohera Medical, Inc., and CSL Behring
