According to the study, the global fibrin glue market
is likely to grow significantly during the forecast period, mainly due to
increasing number of surgical procedures and burn cases, and rising healthcare
expenditure. According to the data provided by the World Bank, 30,537 surgeries
were performed per 100,000 population, in 2012, in the U.S. Similarly, in 2015,
number of surgical procedures performed in Australia were 28,907 per 100,000
population. Fibrin glue is used in various types of surgeries. Fibrin glue is
also used in burn cases during plastic surgeries and surgery of the burned body
parts. According to WHO, approximately 265,000 deaths every year are caused by
burns. Additionally, increasing prevalence of chronic diseases and low chances
of complications associated with these products and rise in the number of road
accidents also contributes to the growth of the overall market. However, increasing
minimally invasive procedures and stringent regulatory requirements are some of
the key factors restraining the growth of global fibrin glue market.
Browse Report Description at: https://www.psmarketresearch.com/market-analysis/fibrin-glue-market
Geographically,
North America has been the largest market for fibrin glue, with the U.S. being
the larger contributor to the regional market, compared to Canada. High
prevalence of cardiovascular diseases is a key factor driving the growth of
North America fibrin glue market for cardiac surgery. Additionally, the growth
of the fibrin glue market in this region is driven by the rise in number of
surgical procedures; especially plastic surgeries in the region, high
expenditure on healthcare, increasing geriatric population, high number of road
accidents and burn cases. According to American Heart Association (AHA), around
85.6 million people are living with cardiovascular diseases, in the U.S. According
to Centers for Disease Control and Prevention (CDC), total national healthcare
expenditure in the U.S. was $3.0 trillion in 2014 and per capita national
health expenditure was $9,523. According
to the American Society of Plastic Surgeons, around 14.6 million cosmetic
plastic surgeries were carried out in the U.S. in 2012, which was 5% higher as
compared to 2011. According to a United Nations publication, the population of
people aged 60 years and above in North America was approximately 74.6 million
in 2015, and the number is estimated to reach approximately 104.8 million by
2030. Thus, the demand for fibrin glue products is expected to increase in the
region.
Explore Report Sample at: https://www.psmarketresearch.com/market-analysis/fibrin-glue-market/report-sample
Cosmetic
surgeries involve the restoration, reconstruction or alteration of the human
body. These surgeries are witnessing popularity due to increasing consumer
awareness and technological advancements in surgical procedures. Fibrin glue is
used for these procedures to hold the tissues together. Due to increasing
awareness about cosmetic procedures and increasing appearance consciousness,
these procedures are gaining more popularity, thus causing a positive impact on
the growth of the global fibrin glue market.
Key
player in the fibrin glue market are extensively working on indication
expansion of the existing fibrin glue products to leverage full potential of
their products in various indications.
Some
of the key players operating in the global fibrin glue market include Vivostat
A/S, Kaketsuken, Johnson & Johnson, Baxter International Inc., CSL Behring,
Zimmer Biomet Holdings, Inc., Takeda Pharmaceutical Company Limited, Mallinckrodt
Plc, Shanghai RAAS Blood Products Co. Ltd. and Hualan Biological Engineering
Inc.