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The surgical sealants and adhesives market has experienced robust growth in recent years, driven by various factors, and this trend is expected to continue in the near future.

Recent Market Growth

• Market Size: The market grew from $2.59 billion in 2023 to $2.83 billion in 2024.
• Growth Rate: This represents a compound annual growth rate (CAGR) of 9.1%.
• Contributing Factors:
  • Rising prevalence of chronic diseases.
  • Increased focus on reducing surgical wounds.
  • Higher demand for minimally invasive techniques.
  • Increased healthcare expenditure.
  • Rising prevalence of cardiovascular disorders.

Future Market Outlook

• Expected Growth: The market is projected to reach $4.14 billion by 2028.
• Future CAGR: Expected to grow at a CAGR of 10.0%.
• Growth Drivers:
  • Increasing geriatric population.
  • Growing prevalence of accidents.
  • Rising number of cosmetic surgeries.
  • Introduction of advanced surgical sealants.

Read More On The Surgical Sealants And Adhesives Market Report 2024 – https://www.thebusinessresearchcompany.com/report/surgical-sealants-and-adhesives-global-market-report

Key Trends in the Forecast Period

• Bio-based Sealants: Development of bio-based sealants using renewable raw materials.
• Strategic Acquisitions: Companies are investing in acquisitions to increase market share and expand product portfolios.
• Innovative Products: Emphasis on developing innovative and enhanced products for better performance.
• Nano-enabled Adhesives: Investment in nano-enabled adhesives and sealants, which offer superior properties like high surface area and nanoscale size.

Impact of Rising Surgical Procedures

• Increased Surgical Procedures: Growth in the market is closely linked to the rise in surgical procedures.
• Contributing Factors:
  • Rising prevalence of obesity and lifestyle diseases.
  • Increasing incidence of spinal and sports-related injuries.
  • Growing elderly population prone to chronic and heart diseases.
• Aging Population: According to WHO, the global population over the age of 65 is expected to double from 1 billion in 2020 to 2.1 billion by 2050.

Major Companies in the Market

• Leading Players:
  • Baxter International Inc.
  • Johnson & Johnson
  • B.Braun Melsungen AG
  • CSL Ltd.
  • Becton Dickinson & Company
  • Cryolife Inc.
  • Integra LifeSciences
  • Vivostat A/S
  • Occular Therapeutix Inc.
  • Advanced Medical Solutions Group PLC
• Other Notable Companies: Takeda Pharmaceutical Company, Siemens Healthcare Diagnostics Ltd., Medtronic, Philips, Stryker, among others.

Expansion into Untapped Geographies

• Strategic Expansion: Companies are expanding their product portfolios into untapped markets.
• Example: In January 2022, Futura Surgicare Pvt. Ltd. collaborated with Advanced Medical Solutions Group PLC to introduce a liquid range of products in India through Dolphin Adhesives, offering innovative wound closure methods.

Recent Acquisitions

• BD’s Acquisition of Tissuemed, Ltd: In December 2021, Becton, Dickinson and Company acquired Tissuemed, Ltd, enhancing its surgical sealants portfolio and strengthening its market position.

Market Segmentation

• By Product:
  • Biological Sealants
  • Synthetic Sealants
  • Semi-Synthetic Sealants
• By Indication:
  • Tissue Sealing
  • Tissue Engineering
  • Hemostasis
• By End Use:
  • Hospitals
  • Clinics
  • Other End Uses

Regional Insights

• Largest Market: North America was the largest region in the surgical sealants and adhesives market in 2023.

The surgical sealants and adhesives market is poised for significant growth driven by an increase in surgical procedures, advancements in product offerings, and strategic expansions by key players. With a focus on innovation and addressing the needs of an aging population, the market will continue to evolve and expand in the coming years.

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