Surgical Glue Market Analysis and In-Depth Analysis on Market Dynamics, Emerging Trends, Growth Factors and Sales Forecast to 2024

The global surgical glue market is estimated to be valued at $3,810.5 million in 2017 and is projected to reach $6,936.5 million by 2023, witnessing a CAGR of 10.6% during the forecast period. The increase in healthcare expenditure and rise in geriatric population in different regions are some of the factors driving the market growth. Surgical glue is a biological or synthetic material used after surgeries and traumatic injuries to prevent air or liquid leakage in wounds. It is also referred to as a surgical adhesive and sealant by health professionals and consumers.

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Plastic surgeries are increasingly gaining popularity owing to rising disposable income, increasing consumer awareness, and technological advancements in surgical procedures. Some of the dominant cosmetic procedures in 2016 were breast augmentation, liposuction, nose reshaping, eyelid surgery, and facelift. Similarly, the top five reconstruction procedures of 2016 were tumor removal, laceration repair, maxillofacial surgery, scar revision, and hand surgery. The abovementioned procedures are promoting surgical glue market expansion.

Surgical glue has several limitations associated with its usability and safety, such as allergic reactions, wound dehiscence, and skin infections. In addition, it is categorized as class II by the FDA and class B by the Drugs and Cosmetics Acts (1940) in India, which makes it a little risky and thus requiring clinical trials and further leading to legal complexities. The safety, quality, and performance of these materials are necessary facets requiring stringent evaluation for public health, which lead to complex and strict regulations for their affiliation. Therefore, these factors are hindering the growth of the surgical glue market.

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Geographically, North America is expected to continue being the largest and second fastest-growing surgical glue market in the coming years. This is attributed to increasing investments in the research and development of the medical adhesive and its several applications in different surgeries performed in the region.

People from developing and developed economies are spending hugely on healthcare services owing to the rise in health concerns and increase in disposable income. According to the Centers for Disease Control and Prevention (CDC), in 2015, total national health expenditure in the U.S. stood at $3.2 trillion and per capita national health expenditure was $9,990. As per the reports of the U.K. Office for National Statistics (ONS), the U.K.’s total healthcare expenditure was $282.8 billion in 2015.

Some of the major players operating in the global surgical glue industry are Advanced Medical Solutions Group PLC, B. Braun Melsungen AG, Baxter International Inc., C. R. Bard Inc., Cardinal Health Inc., Cohera Medical Inc., CryoLife Inc., Integra LifeSciences Holdings Corporation, Johnson & Johnson, Medtronic PLC, and Takeda Pharmaceutical Company Limited.

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