Gelatin Sponge Market Is Booming Worldwide with Baxter International Inc, Gelita AG, Johnson & Johnson, Pfizer Inc, B. Braun, Ferrosan Medical Devices A/S
Impact of Coronavirus (COVID-19)
Following the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries, across the globe and the World Health Organization has declared it as a public health emergency. According to the World Health Organization’s report, the manifestation of the coronavirus (COVID-19) has resulted in over 43.4 million infected individuals, worldwide, as of October 27, 2020.
The coronavirus (COVID-19) pandemic and resulting lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The pandemic has negatively impacted the global gelatin sponge market by affecting directly on development, production, and supply of medical devices and has also affected growth of the pharmaceutical businesses of various companies globally due to lockdowns implemented by governments of several countries. The nationwide lockdowns have led to closure of industrial establishments, except manufacturing of essential commodities and disruption in supply chain of the pharmaceuticals and kits for diagnostic and therapeutic use.
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Key companies focusing on research and development in field of gelatin sponge is expected to drive growth of the global gelatin sponge market over the forecast period. For instance, in 2016, Mallinckrodt Pharmaceuticals, a manufacturer of specialty pharmaceuticals, generic drugs, and imaging agents completed the phase 3 trial of interventional study of Fibrocaps plus gelatin sponge used to achieve homeostasis during surgical procedures such as during spine, liver, vascular or soft tissue surgery.
Moreover, research institutes are focusing on effectiveness of gelatin sponge during the surgical procedures by comparing gelatin sponges with traditional homeostasis methods. For instance, in 2019, Deep Life Medical Ltd, stated that they have completed the phase 2 clinical trial of interventional study on comparing the effectiveness of gelatin sponge with anugel for pain management after hemoroidectomy.
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