Fibrin Sealants Market Report 2022 | Growing Number of Cardiac Surgeries

According to Precision Business Insights (PBI), the latest report, the fibrin sealants market is expected to be worth USD 628.2 million in 2022, growing at an 7.2% CAGR from 2022 to 2028. The primary drivers of the expansion of the global fibrin sealants market include the prevalence of surgeries, increasing geriatric population, rising healthcare expenditure, attractive medical reimbursement policies implemented by government authorities, and government initiatives.

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Cardiac Surgeries Segment to Dominate the Fibrin Sealants Market:
Based on application, the global fibrin sealants market is segmented into cardiovascular surgery, orthopedic surgery, thoracic surgery, neurosurgery, dental surgery, wound management, and others. Cardiovascular diseases and surgeries are most common among them especially coronary heart disease. According to the American Heart Association, about 697,000 people in the United States died from heart disease in 2020-that's 1 in every 5 deaths. Hence, the cardiovascular surgery segment is expected to grow at a prodigious CAGR in the forecasted years and it will increase the chances of adoption of fibrin sealants. The cardiovascular surgery segment will dominate the global fibrin sealants market.

Asia Pacific Fibrin Sealants Market:
The Asia Pacific market is expected to increase in the global fibrin sealants market over the forecast period. It is projected to grow at a considerable CAGR in the coming years. The Asia Pacific market is expanding due to better healthcare facilities, rising healthcare expenditure, increasing geriatric population, and rising cardiovascular diseases in the region. North America held a considerable market share during the estimated period owing to well-developed healthcare infrastructure, the rising prevalence of cardiovascular disorders, and other chronic diseases and surgeries. For instance, according to American Heart Association, on average, someone dies of CVD every 36 seconds in the United States. There are 2,380 deaths from cardiovascular diseases each day, based on 2018 data.

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Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global fibrin sealants market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Sept 2020, Corza Health signed an agreement to acquire Takeda Pharmaceutical's TachoSil Fibrin Sealant Patch for about $414.3 million.

The fibrin sealants market is segmented based on dosage form, application, end user, and geography:
Based on the dosage form, the market is segmented into the following:
• Liquid
• Patch
• Powder

Based on the application, the market is segmented into the following:
• Cardiovascular Surgery
• Orthopedic Surgery
• Thoracic Surgery
• Neurosurgery
• Dental Surgery
• Wound Management
• Others

Based on the end user, the market is segmented into the following:
• Hospitals
• Ambulatory Surgical Centers
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the fibrin sealants market report are Johnson & Johnson (Ethicon), Baxter International Inc, Corza Medical, Tissuemed, Medtronic, The Medicines Company, Integra LifeSciences Corporation, Takeda Pharmaceuticals, Vivostat, and Stryker.

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This release was published on openPR.