2024 Global Fibrin Sealants Market Report: Key Drivers, Size, and Leading Segments
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What Growth Rate is Predicted for the Fibrin Sealants Market for 2024-2033?
The fibrin sealants market is expected to grow from $1 billion in 2023 to $1.08 billion in 2024 at a CAGR of 8.1%, with growth attributed to medical tourism, healthcare infrastructure development, an increase in elective surgeries, a rise in chronic disease prevalence, and demand for rapid hemostasis solutions.
The fibrin sealants market is expected to grow strongly, reaching $1.49 billion by 2028, with a CAGR of 8.2%. Growth is driven by the increasing number of cosmetic surgeries, a growing geriatric population, more coronary artery bypass graft surgeries (CABG), blood-related disorders, and dental surgeries. Trends include technological advancements in hemostatic technologies, personalized medicine, digital health technologies, and robotic-assisted surgeries.
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What Drivers Are Enhancing the fibrin sealants Market’s Growth?
The fibrin sealants market is expected to grow with the rising number of cosmetic surgeries. These surgeries, which aim to enhance or alter appearance, are increasing due to societal pressures, improvements in surgical techniques, and the availability of minimally invasive procedures. Fibrin sealants are used in cosmetic surgeries to promote faster wound healing, reduce bleeding, and minimize scarring, improving both surgical outcomes and patient recovery. For example, in September 2023, CosmetAssure reported that liposuction remained the most common cosmetic surgery, with 347,782 procedures performed in 2023, a 7% increase from 2022, while tummy tucks rose by 5% with 170,110 procedures performed. Therefore, the rise in cosmetic surgeries will drive the fibrin sealants market.
What Segments Are Central to the Fibrin Sealants Market?
1) By Type: Liquid, Patch, Powder
2) By Technology: Autologous Donation, Viral Inactivation, Recombinant Production, Other Technologies
3) By Application: General Surgery, Cardiovascular Surgery, Wound Management, Orthopedic Surgery, Urological Surgeries, Ophthalmic Surgeries, Transplant Surgery, Other Applications
4) By End-User: Hospitals, Ambulatory Surgical Centers, Other End-Users
What Emerging Trends Are Influencing 173 Industry Dynamics?
In the fibrin sealants market, leading companies are developing hemostatic agents to stop bleeding rapidly upon contact. Hemostatic agents are materials used to promote blood clotting at a wound or incision site. For example, in February 2022, Swasth Kare, an India-based manufacturer, launched SeraSeal from Wortham Laboratories, an India-based company focused on hemostatic wound healing products. SeraSeal is a fibrin sealant that stops bleeding almost instantly, even for arterial hemorrhages. The translucent nature of SeraSeal allows surgeons to clearly visualize the bleeding site for better decision-making during procedures.
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Which Geographic Locations Are Critical to the Growth of the Fibrin Sealants Market?
North America was the largest region in the fibrin sealants market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the fibrin sealants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Fibrin Sealants Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the fibrin sealants market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Fibrin Sealants Market Include
1. Fibrin Sealants Market Executive Summary
2. Fibrin Sealants Market Segments
3. Fibrin Sealants Market Size And Template Market Growth Rate
4. Key Fibrin Sealants Market Trends
5. Major Fibrin Sealants Market Drivers
……
25. Key Mergers And Acquisitions In The Fibrin Sealants Market
26. Top Fibrin Sealants Companies
27. Fibrin Sealants Market Opportunities And Strategies
28. Fibrin Sealants Market, Conclusions And Recommendations
29. Appendix
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