Press release
Surgical Glue Market Size, Share to See Strong Expansion Through 2030 Covid-19
New York , United States- Report Ocean presents a new report on Surgical Glue Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market's future.The global surgical glue market size was US$ 5.2 billion in 2020. The global surgical glue market is forecast to reach the value of US$ 13.5 billion by 2030 by growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2021-2030.
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Surgical glue is used to treat traumatic injuries to avoid fluid leakage. The product is also known as surgical adhesive and sealants.
In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Surgical Glue Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market's future growth.
Factors Influencing
The adoption of surgical glues is forecast to increase because of properties like cost-effectiveness and fast recovery. Moreover, the easy availability of surgical glues is forecast to fuel market growth in the coming years.
The growing healthcare expenditure and favorable government initiatives would create promising opportunities for the market players in the global surgical glue market.
Rising cases of accidents, mostly in developing countries, are forecast to fuel the market growth in the coming years.
The unavailability of efficient surgical glues may hamper the market growth during the analysis period.
The different requirements from the end-users may propel the growth of the R&D activities to develop efficient solutions. As a result, it would accelerate market growth.
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Geographic Overview
Regionally, North America holds the largest revenue share in the global surgical glue market. The increasing demand for surgical glues, growing healthcare expenditure, government initiatives, and increasing spending on healthcare are all forecasts to propel the region's growth in the global surgical glue market.
Moreover, the increasing demand for tissue-friendly surgical glues may increase opportunities for the market players to grow in the region. The report by TMC Innovation Institute indicates that around 30 million accidents are registered in the United States yearly. With the growing number of cases, the demand for surgeries and surgical glues would ultimately increase.
The Asia Pacific region is forecast to observe rapid growth due to the increasing advancement of clinical specialty products. Moreover, the developing population of elderly people, rising demand for surgical interventions, and government initiatives to improve healthcare infrastructure are all contributing to the market growth.
COVID-19 Impact Analysis
The demand for surgical glues decreased as the healthcare sectors postponed or canceled the surgery cases. Healthcare bodies were all focused on treating the COVID-19 affected patients. Thus, the demand for surgical glues declined rapidly. Moreover, as the economies begin to grow again, the demand for surgical glues would increase rapidly. Due to the COVID-19 pandemic, governments are focusing on enhancing the healthcare sector. Thus, the market players would witness various opportunities.
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Competitors in the Market
B. Braun Melsungen AG
Baxter International Inc.
Advanced Medical Solutions Group PLC
C. R. Bard Inc.
Cardinal Health Inc.
CryoLife Inc.
Integra LifeSciences Holdings Corporation
Cohera Medical Inc.
Takeda Pharmaceutical Company Limited
Johnson & Johnson, Medtronic PLC
Other prominent players
Market Segmentation
By Product Type
Natural
Fibrin
Collagen
Gelatin
Synthetic and Semi-Synthetic
Cyanoacrylate
Polymeric Hydrogel
Urethane-based Adhesive
By Application
Cardiovascular Surgery
Orthopedic Surgery
General Surgery
Cosmetic Surgery
Pulmonary Surgery
Central Nervous System Surgery
Other Applications
By End-User
Hospitals
Ambulatory Surgical Centers
Other End Users
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
The report's geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
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