Absorbable Fibrin Sealant Patch Market to Reach $0.7 Billion, Globally, by 2033 at 7.8% CAGR: Allied Market Research

PORTLAND, ID, UNITED STATES, December 12, 2024 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Absorbable Fibrin Sealant Patch Market by Application (General Surgery , Cardiovascular Surgery, Wound Management , Orthopedic Surgery, Urological Surgery, Ophthalmic Surgery and Others), and End User (Hospitals and Clinics, Ambulatory Surgical Centers and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the absorbable fibrin sealant patch market was valued at $0.3 billion in 2023, and is estimated to reach $0.7 billion by 2033, growing at a CAGR of 7.8% from 2024 to 2033.

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Prime determinants of growth

Rise in prevalence of chronic diseases, increase in number of surgical procedures, rise in minimally invasive surgical techniques, and rise in awareness regarding fibrin sealants are the major factors that drive the growth of the absorbable fibrin sealant patch market growth. However, high cost of fibrin sealants and availability of alternate products restricts the market growth. Moreover, growth opportunities in emerging markets offer remunerative opportunities for the expansion of the global absorbable fibrin sealant patch market.

Segment Highlights

Expansion of others segment due to dental and cosmetic surgeries.

By application, the others segment plays a significant role in absorbable fibrin sealants market. Growth of others segment is also associated with increase in lung cancer, which leads to increase in pulmonary surgery and boost growth of others segment. In addition, rise in number of dental surgeries, cosmetic surgeries, and pulmonary diseases drives the others segment growth.

Rise in adoption of absorbable fibrin sealant patches in hospitals and clinics

By end user, the hospitals and clinics segment is driven by increase in patient admission, presence of advanced diagnostic products, and well-trained nursing staff in hospitals and clinics. In addition, increase in discounted rates for patients, increase in number of surgeries that are performed in clinics and rise in healthcare expenditure also boosts the segment growth.

Regional Outlook

North America Dominance by 2033

North America is projected to maintain its leadership in the absorbable fibrin sealant patch market owing to a well-established healthcare infrastructure and high healthcare expenditure, which facilitates the adoption of advanced medical technologies. The presence of leading medical device manufacturers and strong R&D capabilities further drive innovation and availability of cutting-edge products. In addition, the rise in prevalence of surgical procedures and a significant rise in prevalence of chronic diseases, such as cardiovascular disorders and cancers, creates a sustained demand for effective hemostatic solutions, which further supports the market growth in this region.

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Key Players:

Johnson & Johnson

Baxter International Inc 

Takeda Pharmaceutical Company Limited

Becton, Dickinson and Company. 

Corza Medical

LifeBond Ltd 

Surgical Specialties Corporation 

Biegler GmbH 

Cohera Medical Inc 

Integra LifeSciences Corporation 

The report provides a detailed analysis of these key players in the global absorbable fibrin sealant patch market. These players have adopted different strategies such as agreement, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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