Latin America Surgical Sealants And Adhesives Market By Product (Natural & Synthetic, Fibrin, Collagen, Gelatine, Cyanoacrylate, Albumin, Human Blood), Indication (Haemostasis, Tissue Sealing), Application (CNS, Cardiovascular, Cosmetic Surgery) And By Region
According to the report Latin America Surgical Sealants and Adhesives market, published by Market Data Forecast, the Market size was around USD 190 million in 2016. It is expected to grow at a CAGR of 9.4 % to reach USD 290 million by 2021.
It captures 10% of the global market.
Materials used for repairing injured tissues, binding the tissues together externally and internally after injury or surgery, strengthening surgical wounds and replacing common stitching practices are called Surgical sealants and adhesives. For wound closure such as staples and suture surgical sealants and adhesives are preferred over traditional methods because of their numerous advantages like efficacy, usability and safety in several situations in different tissues.
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Rising incidence of various chronic disorders such as obesity and CVDs, high accident rates, growing need to manage blood loss in patients, increasing incidence of trauma, rising number of surgeries and augmenting geriatric population are the primary drivers of the market. Secondary factors include increasing uptake of technologically advanced products owing to the FDA and CE Mark approvals.
Clinical data requirements for product approval are costly and to add to that the lack of reimbursements are the major restraints of this market. Further, lack of awareness and relatively lower disposable income are secondary factors hindering the growth of this market.
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The Latin America Surgical Sealants and Adhesives market can be categorized into three categories: by product, by indication and by application. On the basis of product, Latin America Surgical Sealants and Adhesives market is classified into Natural/Biological Sealants and Adhesives and Synthetic and Semi-Synthetic Sealants and Adhesives.
Natural/Biological Sealants and Adhesives is further segmented into type and origin. By type it is categorized into Polypeptide/Protein-based Sealants and Adhesives (Fibrin-based Adhesives, Gelatine-based Adhesives, Collagen-based Adhesives and Albumin-based Adhesives) and Polysaccharide-based Sealants and Adhesives (Polysaccharide-based Sealants and Adhesives and Other Polysaccharide-based Adhesives).
By Origin it sub-segmented into Human Blood-based and Animal-based.
Further, Synthetic and Semi-Synthetic Sealants and Adhesives has been categorized into Cyanoacrylates, Polyethylene glycol Hydrogels, Urethane-based Adhesives and Other Synthetic Adhesives. In the polypeptide sealants and adhesives category, the fibrin-based adhesives commanded the largest market share because of the wide range of applications of these sealants in surgical areas for example, cardiac, spleen surgeries, liver, colonic anastomosis, and seroma prevention after soft tissue dissections.
Furthermore, the gelatine-based adhesives category is estimated to grow at the highest CAGR during the aforementioned forecast period because of their tensile strength, high elasticity and high-adhesive.
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Moreover, on the basis of indication, the market is segmented into Surgical Haemostasis, Tissue Sealing and Tissue Engineering. In addition, on the basis of application the market can be categorized into Central Nervous System (CNS) Surgeries, General Surgeries, Cardiovascular Surgeries, Orthopaedic Surgeries, Cosmetic Surgeries, Urological Surgeries, Pulmonary Surgeries, Ophthalmic Surgeries and Other Applications.
By geography, the Latin America Surgical Sealants and Adhesives market has been categorized into Brazil, Argentina, Chile and other countries. Brazil is the leading country in the region.
It is second to last in terms of market share.
CryoLife, Inc. (U.S.), Johnson & Johnson (Ethicon, Inc., Baxter International, Inc. (U.S.), and C.R. Bard, Inc. (U.S.) held the key share of the surgical sealants and adhesives market and are likely continue to dominate the market between 2016 and 2021.
Some of the primary players operating in this market are Cohera Medical, Inc. (U.S.), Ocular Therapuetix, Inc. (U.S.), Vivostat A/S (Denmark), and Sealantis Ltd. (Israel), Medtronic plc (U.S.), Sanofi Group (France), B. Braun Melsungen AG (Germany).
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