Global Fibrin Glue Market Size, Leading Players, Segments Analysis and Growth Drivers to 2023 - Johnson & Johnson, Baxter International Inc., CSL Behring, Zimmer Biomet Holdings, Inc.

According to the study, the global fibrin glue market is likely to grow significantly during the forecast period, mainly due to increasing number of surgical procedures and burn cases, and rising healthcare expenditure. According to the data provided by the World Bank, 30,537 surgeries were performed per 100,000 population, in 2012, in the U.S. Similarly, in 2015, number of surgical procedures performed in Australia were 28,907 per 100,000 population. Fibrin glue is used in various types of surgeries. Fibrin glue is also used in burn cases during plastic surgeries and surgery of the burned body parts. According to WHO, approximately 265,000 deaths every year are caused by burns. Additionally, increasing prevalence of chronic diseases and low chances of complications associated with these products and rise in the number of road accidents also contributes to the growth of the overall market. However, increasing minimally invasive procedures and stringent regulatory requirements are some of the key factors restraining the growth of global fibrin glue market.

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Asia pacific is expected to witness the fastest growth during the forecast period. The growth in the region is mainly attributable to aging population, rising incidence of burns cases and increasing per capita income. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the number of people aged 65 years and above constituted approximately 11.4% of population in 2013, and the count is estimated to reach approximately 20% of the population, by 2050. Demand for fibrin glue products is also increasing due to rising number of burn cases and road accidents.

Fibrin glues are usually used for wound closure, bronchial fistulas, repairing dura tears and haemostasis for liver and spleen trauma. Many companies are investing in research and development for expanding the indications for which fibrin glue can be used in addition to their existing indications.

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In October 2016, Ethicon received USFDA approval for an expanded indication for EVARREST Fibrin Sealant Patch. The expanded indication supported the use of EVARREST as an adjunctive hemostat for a broad range of patients and surgical situations. The expanded indication was based on a cardiovascular clinical study that demonstrated EVARREST’s superior hemostatic efficacy. The expanded indication is major trend being observed in the global fibrin glue market, which has led to the increase in the use of the fibrin glues.

Some of the key players operating in the global fibrin glue market include Vivostat A/S, Kaketsuken, Johnson & Johnson, Baxter International Inc., CSL Behring, Zimmer Biomet Holdings, Inc., Takeda Pharmaceutical Company Limited, Mallinckrodt Plc, Shanghai RAAS Blood Products Co. Ltd. and Hualan Biological Engineering Inc.

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