The market witnessed a healthy growth rate during the last decade.
The market witnessed a healthy growth rate during the last decade and is expected to grow at a compound annual growth rate (CAGR) of 9.6% between 2016 and 2021 to reach 2.96 billion by 2021, according to a new market research report from Markets and Markets.
The growth in this market is reportedly attributed to factors such as increasing need to manage blood loss in patients, growing rate of surgeries being performed annually, greater uptake of technologically advanced products, and increasing FDA and CE Mark approvals. Moreover, factors like rising geriatric population, increasing prevalence and incidence of chronic disorders, as well as increasing trauma and accident cases, are driving the adoption of these sealants and adhesives.