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Fibrin Glue Market Predicted to Rise at a Lucrative CAGR throughout 2021
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Some of the characteristics of fibrin glue include high internal bond strength, high surface adherence strength, and ability to enhance tissue regeneration and clot formation. Fibrin glue is mainly used in cardiac, vascular, and pulmonary surgeries, burn bleeding, and lacerations of liver and spleen. It is also used in other surgeries such as neurosurgeries, plastic surgeries, wound management, and general and orthopedic surgeries. Fibrin glue lowers the risk of infection, provides early hemostasis on the treated area, and improves cosmesis. It also promotes natural tissue healing. However, one of the disadvantages of fibrin glue is the risk of transmission of infectious organisms from human bodies to the glue. Tisseel, biocol, and beriplast are some of the commercially-prepared fibrin sealants.
North America dominates the global market for fibrin glue due to a large aging population and increasing number of surgical procedures. Asia is expected to witness high growth rates in the next five years in the global fibrin glue market. China and India are expected to be the fastest-growing fibrin glue markets in Asia Pacific. Some of the key driving factors of the fibrin glue market in emerging countries are a large pool of patients, increasing healthcare expenditure, and rising government funding.
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In the recent years, the use of fibrin glue has increased due to increasing number of surgical procedures. Increasing aging population, rise in incidences of chronic wounds, venous ulcers, diabetic ulcers, and pressure sores, and the relatively-low chances of complication associated with these products are some of the key factors driving the growth of the global fibrin glue market. In addition, increasing healthcare awareness is also fueling the growth of the global fibrin glue market. However, economic slowdown and minimal invasive procedures, such as laparoscopic and endoscopic surgeries, are some of the major factors restraining the growth of the global fibrin glue market. In addition, unfavorable reimbursement policies would also restrain growth of the global fibrin glue market.
Technological advancements would create opportunities for the global fibrin glue market. However, alternative components for wound closure could pose a challenge for the global fibrin glue market.
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Some of the major companies operating in this market are Cryolife, Inc., Baxter International, Inc., Omrix Biopharmaceutical, Inc., Haemacure, Vivostat A/S, Harvest Technologies, Interpore Cross, and CSL Behring.
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