The Value of Vascular sealant Market Estimated to Soar Higher During 2016-2024
Vascular sealants reduce cross-contamination of a surgical site and thus, help to improve treatment outcomes, and in turn reduce the cost of treatment by securing and protecting wounds and injuries from further infection or advancement of the disease. A higher occurrence of unending injuries and surgical procedures drives interest for cutting-edge dressings. Cost management increases the attractiveness of product related to vascular sealants. Some of the established brands in global vascular sealants market are PREVELEAK, Coseal, Seal-V, TRIDYNE, Vivostat, SURGIFLO, OMNEX, Technosil, Cryolife Inc. etc. among others.
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Demand for vascular sealants is driven by case load of cardiovascular surgical procedures and nature of clinical need. Increasing number of cardiovascular interventions such as coronary revascularization, valvular repair procedures, coronary artery bypass graft surgery (CABG) etc. would drive the growth of vascular sealants market. According to American Heart Association Statistics, over 469,000 CABG procedures were performed in the U.S. in 2008. Moreover, product approvals in the global vascular sealants market is expected to further fuel the growth of the global market. For instance, in 2017, Gecko Biomedical received CE mark approval for its Setalum bioresorbable vascular sealant. However, some safety issues such as potential for overswelling when used within small spaces, potentially causing damage to vascular tissue are the factors limiting the growth of vascular sealants market.
The global market for vascular sealant is segmented on basis of product type, end user, and geography:
Segmentation by Product Type
Fibrin Vascular Sealants
Collagen-based Vascular Sealants
Synthetic Vascular Sealants
Segmentation by End User
Cardiac Catheterization Labs
Ambulatory Surgical Centers
On the basis of product type, fibrin vascular sealants segment is expected to contribute the highest share in the global vascular sealants market. Fibrin vascular sealants are choice in vascular surgery as they provide an effective means of sealing anastomoses before blood vessel pressurization and vascular clamp removal. Fibrin vascular sealants have primarily been used as adjunctive hemostasis in many cardiovascular and aortic procedures. Fibrin vascular sealants are among first approved vascular sealants and are being used in the U.S. and Japan since 1998.
Among all three end users of vascular sealants, hospitals end-user segment clearly dominate the global vascular sealants market over the forecast period, primarily due to high case load. Moreover, various companies in the global vascular sealants market are adopting different marketing strategies to increase product penetration and sales, such as entering into supply agreements with hospitals. Effective use of vascular sealants is associated with the lower cost and shortened length of hospital stay, which ultimately increases the demand for these products in hospital settings.
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On the basis of regional presence, global vascular sealant market is segmented into five key regions viz. North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America will continue to dominate the global vascular sealant market due to high patient volumes. Europe is expected to hold second largest market share in global vascular sealant market due to rising number of cardiovascular interventions.
The market for vascular sealant is consolidated with few international players operating in the global market. Some of the key players identified in global vascular sealants market include Sealantis Ltd., Baxter Healthcare Corporation, Mallinckrodt Inc., Tenaxis Medical Inc., Becton Dickinson and Company (Davol Inc.), Medtronic Inc., Vivostat A/S, Johnson & Johnson, etc. among others.
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