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(Health-NewsWire.Net, April 26, 2022 ) The Surgical Hemostat Internal Tissue Sealant Adhesion Barrier Market is bound to grow at a remarkable rate in the forecast period. Vital Sign monitoring, in combination with wearables, does aid in symptoms check-in as well as education 24/7. There are also hand-held dongles being made available for attaching to smartphones to measure biomarkers for chronic ailments. This monitoring proves to be more cost-effective and convenient in comparison with in-person care. This trend would be prevalent in the healthcare vertical going forward.
The global surgical hemostats, internal tissue sealants adhesion barrier market is set to cross US$ 5 Billion by 2024, expanding at a CAGR of over 8% during the next eight years. North America will continue to lead the market, accounting for almost 47% share of the global market over the assessment period.
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PMR indicates that the global market will witness a steady growth owing to factors such as challenges before adhesive prevention, changing nature of clinical needs and higher caseload across the globe. In addition, key players operating in the global market are actively focusing on strategic collaborations in order to extend their product reach across narrower distribution channels. This, in turn, is anticipated to support the growth of market over the next couple of years.
However, this steep increase in overall surgical procedures will not necessarily cover-up for the complications associated with adhesion and internal tissue sealants surgeries, as advanced minimally invasive surgical procedures have higher efficiency with reduced size and severity of surgical wounds.
As per PMR’s report, the existence of handful established brands that are running globally and uneven structure of the market is expected to present lucrative market opportunities for local players over the forecast period.
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Company Profiles:
Baxter
Ethicon, Inc.
B. Braun Melsungen AG
Sanofi
C. R. Bard, Inc.
Integra Lifesciences Corporation
Cryolife Inc.
Tissuemed Ltd
Cohera Medical, Inc.
Pfizer Inc.
Highlights of the Report
On the basis of product type, the hemostats product segment is estimated to reach a market valuation of US$ 2.2 Billion by the closing end of the assessment period. In terms of value, the segment is estimated to increase 1.9x over 2024 despite recording a relatively low CAGR.
Whereas, demand for synthetic polymer based internal tissue sealants is expected to gain traction in the near future. This is primarily due to increased product offerings for tissue sealants by manufacturers leading to market exclusivity. Moreover, increasing focus on developing advanced surgical sealants and adhesion barriers owing to the inadequacy of hemostatic products such as oxidized regenerated cellulose based and gelatin based hemostats that are eventually reaching limitation. Demand for adhesion barriers surgeries is also poised to grow at a handsome pace, reflecting a CAGR of 9.2% between 2016 and 2024.
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Based on end user, hospitals is anticipated to be the leading segment, expanding at over 9% CAGR over the assessment period. The segment will be benefited by the increasing availability of low cost procedures associated with the use of hemostats in various cases.
Based on regional prospects, North America will retain the major share of the global market over 2024 followed by Europe. In addition, the market in North America is expected to create an incremental opportunity of closely to US$ 1,642 Million during 2016 to 2026.
Europe being the second largest market is set to rake in US$ 1.2 Billion in revenues over 2024, with the UK, Germany and France occupying the top three spots of the market in the region. A sharp rise in the number of cardiovascular surgeries in countries such as China, Australia and Japan is expected to present lucrative market opportunities in the Asia Pacific region during the projected period. Moreover, rapid launch of new products and service extension of existing products in both APAC and Europe is a major factor expected to drive the growth prospects of the market in these regions.
Related Reports:
Biodegradable Dressings Market - Biodegradable Dressings Market is expected to reach US$ 285.8 Mn by 2031, reflecting a CAGR of 3.8% over the forecast period (2021-2031).
Adhesion Barriers Market - The global adhesion barriers market estimated to be worth US$ 2,111.1 Mn by 2018 end and is expected to expand at a CAGR of 6.9 % over the forecast period of 2018–2026.
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