This market research report includes a detailed segmentation of the global hemostats and tissue sealants market by product type (hemostats and tissue sealants). It also outlines the market shares for key regions such as the Americas, APAC, Europe, and MEA. The leading vendors analyzed in this report are Advanced Medical Solution, Baxter, CR Bard, and Johnson & Johnson.
Technavio’s market research analysts expect the global tissue sealants market to grow at a CAGR of around 9% between 2016 and 2020. The increasing demand for tissue sealants and hemostats to effectively reduce the time consumed for surgeries is the primary driver for this market. At present, the Americas dominate the global tissue sealants market with a market value of over $1 billion and is expected to grow further due to focus on healthcare reform.
The new market research report from Technavio provides a breakdown and analysis of global tissue sealants market segments.
“The major reason for the growth of the market is the steady increase in the number of out-patient surgeries. With fibrin sealants and surgical adhesives such as glues and other synthetic sealing agents being widely accepted in sealing wounds during open surgeries, the market is projected to grow progressively during the forecast period,” Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The key vendors in the global tissue sealants market are Advanced Medical Solution, Baxter, CR Bard, and Johnson & Johnson. The market for hemostats and tissue sealants is extremely fragmented due to the presence of several vendors, which include international, regional, and local vendors. In this market, the international players are increasing their footprint, but the local vendors are finding it difficult to compete with them, especially in terms of product quality. The competitive environment in this market is expected to intensify with an increase in product extensions and mergers and acquisitions.
A more detailed analysis is available on the Technavio report, Global Tissue Sealants Market 2016-2020.
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