Market Overview-
The global fibrin sealant patch market size is expected to gain momentum owing to the growing number of surgeries worldwide during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Fibrin Sealant Patch Market, 2021-2028.” The development of the market is being fueled by the increasing number of surgical procedures, particularly orthopedic surgeries due to sports injuries, accidents, and cardiac surgeries. The rising prevalence of cardiovascular diseases (CVDs) around the world is expected to fuel the market's expansion in the coming years. According to World Health Organization (WHO) estimates, cardiovascular diseases surpassed cancer as the leading cause of death worldwide, killing approximately 17 million people.
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COVID-19 Impact-
Supply Chain Disruption to Hamper the Market Growth
COVID-19 is an unprecedented global public health crisis that has impacted practically every business, with long-term consequences that are expected to stifle industrial growth during the forecast period. The report for fibrin sealant patch examines COVID-19 by looking at changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, market dynamics, and government action.
To get to know more about the short-term and long-term impact of COVID19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/fibrin-sealant-patch-market-101868
Segments-
By application, the market for fibrin sealant patch is segmented into gastrointestinal surgery, trauma, neurosurgery, cardiovascular surgery, and others. By end-user, the market is segregated into hospitals, specialty clinics, ambulatory surgery centers, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The report for fibrin sealant patch examines the current state of the fibrin sealants industry as well as its future growth potential. The market report was created using an in-depth market study and input from industry experts by adopting several research methodologies such as PESTEL’s and others. The research examines the market's current state and future growth potential.
Drivers & Restraints-
Increasing Usage of Hemostats to Stimulate Growth
The increasing demand for hemostats in operative procedure is expected to boost the global fibrin sealant patch market growth during the forecast period. Hemostats, often known as clamps, are devices that are used to stop bleeding during surgical procedures. They are commonly used in high-risk procedures, such as cardiac surgery, where extreme caution is required. The number of heart procedures performed around the world is increasing that will boost the need for these devices. For example, in November 2018, Baxter revealed its new Tisseel Prima Syringe, an ergonomic device that comes completely constructed and is considerably easier to use than its predecessor.
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REGIONAL INSIGHTS
Highly Developed Infrastructure in North America to Promote Growth
North America is expected to hold the largest global fibrin sealant patch market share during the forecast period. The rapid expansion of the global fibrin sealants market is due to advancements in healthcare infrastructure, an increase in the number of bone and sports injuries, and the growing number of hip and knee replacement procedures in the United States.
Europe is anticipated to hold a substantial position in the market. The availability of innovative products and the presence of cutting-edge healthcare research institutions are the primary drivers driving the market in the area.
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Competitive Landscape-
Key Players to Focus on Partnership to Strengthen their Market position
The market is competitive, with most competitors vying for greater market share. The market faces a number of challenges, including fierce rivalry and rapid-pacedtechnical improvements. During the forecast period, the reportfocuses on subsequent merger and acquisition plans, geographic expansion, research and development, and new product launch strategies by the companies in order to expand and grow their businesses.
Industry Development-
- December 2019: Ethicon, a subsidiary of Johnson & Johnson based in New Jersey, introduced Vistaseal, a fibrin sealant for limiting bleeding during surgeries. The product is the first-of-its-kind sealant that may be sprayed without the use of gas for minimally invasive operations.
List of Key Players Profiled in the Global Market for Fibrin Sealant Patch:
- Ethicon U.S, LLC.
- Baxter
- Johnson & Johnson
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