Fibrin Sealants Market

The Global Fibrin Sealants Market Size Was Worth USD 919.05 Million in 2022 And is Estimated to Grow to USD 1688.55 Million by 2030, With a CAGR of Approximately 7.9 % Over the Forecast Period From 2023 To 2030.

Fibrin Sealants Market Overview

During surgery, a fibrin sealant is employed to seal the tissue. Fibrin sealants aid in minimizing blood loss and stopping blood flow during operations and wound care. To create a fibrin clot, fibrin sealants simulate the latter stages of the normal coagulation cascade. In order to lessen blood loss, fibrin sealants are currently used in various surgical specialties, including cardiovascular surgery, urological surgery, pulmonary surgery, ophthalmic surgery, neurosurgery, wound management, orthopedic surgery, plastic surgery and reconstructive surgery, and dental surgery. The prevalence of diseases like blood clots in the brain, cancer, aneurysms, tumors, gastric diseases, heart attacks, atherosclerosis disease, ischemic stroke, myocardial infarction, arrhythmia, and increases in blood vessel blockages in the heart, brain, kidney, and liver have all contributed to an increase in surgeries, and this has resulted in a growth in the market share for fibrin sealants. The market for products containing fibrin sealants is also growing as sports injuries, and auto accidents rise. Therefore, all of these considerations encourage the market for fibrin sealants.

COVID-19 Impact

The COVID-19 pandemic had a detrimental effect on the growth of the global fibrin sealants market since so many medical schools and hospitals throughout the world had to be rebuilt to boost the number of beds available for COVID-19 patients. Many patients prone to chronic illnesses avoided routine clinic visits to adhere to the social estrangement standards enacted by governments around the world. However, the market has bounced back since the end of the pandemic and is projected to expand significantly in the years ahead.

Market Drivers

One of the main factors promoting the growth of the fibrin sealants market is the rise in surgical operations. An increase in chronic diseases caused the growth in surgical operations. People can return to regular life more quickly than traditional surgical procedures because of the availability of MI operations, which are less painful. Additionally, fibrin sealants are utilized in various surgical procedures, including cardiothoracic, thoracic, appendectomy, neurosurgery, hip replacement, plastic and reconstructive surgery, and dental surgery. Therefore, the market expansion throughout the projection period will be driven by the rising number of surgical treatments for chronic illnesses.

Restraints

The factor impeding the market expansion for fibrin sealants is their expensive price. For instance, fibrin sealant liquid costs around $60 to $100 per millimeter, fibrin sealant adhesive costs about $12 to $150 per box, and fibrin sealant patches cost about $850 to $1,000 each. The size of the surgical incision affects how much fibrin sealant is needed. Large surgical incisions may require more fibrin sealant, raising the financial burden. End users will consequently choose more affordable hemostat products, including absorbable ones. During the forecast period, this will have a negative effect on the market’s adoption of fibrin sealants.

Fibrin Sealants Market: Segmentation

The global fibrin sealants market is segregated based on the Dosage Form, Application, and end user.

• Based on Applications, the market is divided into general surgery, cardiovascular surgery, wound management, orthopedic surgery, and others. The cardiovascular surgery category dominated the market in 2022. Cardiovascular surgery, also referred to as heart surgery, involves operating on the heart to treat serious health issues. According to the World Health Organization (WHO), cardiovascular diseases (CVDs) account for 17.9 million deaths per year, or 32% of all fatalities worldwide, making them the leading cause of death globally. Fibrin Sealants are used in cardiovascular surgery to reduce the need for blood and blood product transfusions, to improve homeostasis in heparin-treated patients, and to control problematic bleeding on vascular anastomoses through tissue sealing. According to estimates, the market for cardiovascular procedures will grow as the number of cardiovascular illnesses rises.
• Based on end users, the market is divided into hospitals, ambulatory surgical centers, and others. The hospital’s category dominated the market in 2022, driven by an increase in CABG (coronary artery bypass grafting) and other cardiovascular surgeries in hospitals throughout the forecast period. For instance, a study by the Agency for Healthcare Research and Quality found that between 2001 and 2011, the number of percutaneous transluminal coronary angioplasty operations performed in U.S. hospitals increased by an estimated 20.0%.

Fibrin Sealants Market: Regional Landscape

• In 2022, North America dominated the market for fibrin sealants. A significant number of prospects for market expansion in the region are projected to be presented by the region’s fast-rising surgical rate and the strong emphasis on adopting minimally invasive procedures. Furthermore, it is projected that the market in the region will grow as technology in minimally invasive surgical techniques becomes more widely used in the US. Furthermore, as governments and organizations work to spread knowledge about chronic illnesses and their remedies, more people will seek care.

Fibrin Sealants Market: Competitive Landscape

Some of the main competitors dominating the global fibrin sealants market include

1. Baxter
2. Pfizer, Inc.
3. Takeda Pharmaceutical Company
4. Johnson & Johnson (Ethicon, Inc.)
5. Grifols, S.A.
6. CSL Limited
7. Vivostat A/S
8. Stryker
9. Hemarus
10. Asahi Kasei Corporation

Recent Developments

• December 2019: VISTASEAL Fibrin Sealant was introduced by Ethicon to control bleeding during surgery. The clotting proteins fibrinogen and thrombin, present in human plasma, are combined in VISTASEAL Fibrin Sealant (Human). When applied to the bleeding site, it quickly forms an adherent clot that won’t dissolve over time. Studies have shown that it can even stop blood flow in high-risk patients.
• November 2018: The new Tisseel prima syringe was unveiled by Baxter at the annual meeting of the American Association of Gynecologic Laparoscopists. Additionally, Baxter presented their new 40cm Duplotip Rigid Applicator for Tisseel, an extended-length applicator that is useful when surgeons need to apply Tisseel laparoscopically to difficult-to-reach locations.

The Global Fibrin Sealants Market is segmented as follows:

Fibrin Sealants Market by Dosage Form Outlook (Revenue, USD Million, 2017 – 2030)

1. Liquid
2. Patch
3. Powder

Fibrin Sealants Market by Application Outlook (Revenue, USD Million, 2017 – 2030)

1. General Surgery
2. Cardiovascular Surgery
3. Wound Management
4. Orthopedic Surgery
5. Others

Fibrin Sealants Market by End User Outlook (Revenue, USD Million, 2017 – 2030)

1. Hospitals
2. Ambulatory Surgical Centers
3. Others

Fibrin Sealants Market by Region Outlook (Revenue, USD Million, 2017 – 2030)

1. North America
   • The U.S.
   • Canada
   • Mexico
2. Europe
   • France
   • The UK
   • Spain
   • Germany
   • Italy
   • Rest of Europe
3. Asia Pacific
   • China
   • Japan
   • India
   • New Zealand
   • Australia
   • South Korea
   • Southeast Asia
   • Rest of Southeast Asia
4. The Middle East & Africa
   • Saudi Arabia
   • UAE
   • Egypt
   • Kuwait
   • South Africa
   • Rest of the Middle East & Africa
5. Latin America
   • Brazil
   • Argentina
   • Rest of Latin America