Global revenues of tissue glue and bio-adhesive sealants will reach $2.3 billion by the end of 2024, according to a recent report from Persistence Market Research. In 2015, the global sales of tissue glue and bio-adhesive sealants were recorded to exceed $1.1 billion. By end user, hospitals will dominate global revenues, as compared to specialty clinics and ambulatory surgical centers (ASCs). In terms of application, cardiovascular surgeries are expected to account for the highest revenue share.
Global consumption of fibrin sealants in 2016 is estimated to account for nearly $500 million in revenue. Compared to fibrin sealants, the collective revenues generated from sales of protein-based sealants and thrombin-based sealants in the global market are projected to secure over 40% value share by the end of 2024. Sales of collagen-based sealants and gelatin-based sealants are predicted to experience a slight dip over the forecast period.
North America’s tissue glue and bio-adhesive sealants market is estimated to dominate with more than 50% share of the global market value. Technological influence and enhanced healthcare infrastructure are attributed to the growth of the tissue glue and bio-adhesive sealants market in North America. Qualitative production and an extensive consumer base makes Asia-Pacific the second most lucrative region. Through 2024, Asia-Pacific is likely to expand at the highest regional compound annual growth rate (CAGR) of 8.6%. Between 2016 and 2017; Latin America is expected to increase over $4 million. The Middle East and Africa (MEA) region will expand at a comparatively lesser CAGR over the forecast period. Europe is expected to see limited growth due to supply chain and distribution issues, and fluctuation within the region’s currency rates.
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