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Gelatin Sponge Market is specially treated and purified gelatin solution by Key players Pfizer, B. Braun Medical, GELITA MEDICAL

12-03-2021 01:14 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent Market Insights

Gelatin Sponge Market

Gelatin Sponge Market

Academic and research institutes focusing on the research and development of gelatin sponge is expected to drive the growth of gelatin sponge market. For instance, in November 2019 Physicians at G. d'Annunzio University announced that they had completed clinical trials on the use of gelatin sponge for larger and moderate palatal wounds, and that gelatin sponges were successful on palatal wounds.

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Key companies focusing on research and development in the field of gelatin sponge is expected to drive the growth of the global gelatin sponge market over the forecast period. For instance, Mallinckrodt Pharmaceuticals, a specialty pharmaceuticals, generic drug, and imaging agent manufacturer, completed a phase 3 trial of Fibrocaps plus gelatin sponge used to achieve homeostasis during surgical procedures such as the spine, lung, vascular, or soft tissue surgery in 2016.

Furthermore, research institutes focusing on improving the effectiveness of gelatin sponge during the surgical procedures by comparing gelatin sponges with traditional homeostasis methods is also expected to drive the growth of the gelatin sponge market. For example, Deep Life Medical Ltd announced in 2019 that they had completed a phase 2 clinical trial comparing the efficacy of gelatin sponge versus anugel for pain relief after haemorrhoidectomy.

The coronavirus pandemic has affected various markets worldwide and is also expected to hinder the demand and supply in the global gelatin sponge market. The COVID-19 pandemic has had three significant impacts on the gelatin sponge market: directly influencing supply and demand, triggering distribution chain disturbances, and having a financial impact on firms and financial markets. Due to nationwide lockdowns, gelatin sponge supply chains and manufacturing operations in India, China, and the United States are disrupted. Countries such as Saudi Arabia, the United Arab Emirates, Egypt, and others, on the other hand, are having difficulty transporting drugs from one place to another.

Furthermore, in May 2020, Fortcaps Healthcare, one of India's top five gelatin manufacturers, announced that production of gelatin capsules and raw gelatin had been significantly reduced by 10-12 billion pieces per month. Furthermore, the COVID-19 pandemic has reduced the availability of gelatin as a raw material by 40% and placed transportation restrictions across the world, suggesting that COVID-19 has had a negative effect on the global gelatin sponge industry.

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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide.

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