Fibrin Sealants Market is Projected to Exhibit USD 1.1 Billion by 2032; to Grow at Exponential Rate During 2023-2032 ; Claims AMR

Allied Market Research published a report, titled, “Fibrin Sealants Market by Dosage Form (Liquid, Patch, Powder), Application (General Surgery, Cardiovascular Surgery, Wound Management, Orthopedic Surgery, Urological Surgeries, Ophthalmic Surgeries, and Others), and End User (Hospitals, Ambulatory Surgical Centers and Clinics): Global Opportunity Analysis and Industry Forecast, 2022-2032.”.

 According to the report, the Global Fibrin Sealants Market was valued at $0.55 billion in 2022 and is estimated to reach $1.1 billion by 2032, exhibiting a CAGR of 7.8% from 2023 to 2032.

• CAGR: 7.8%
• Current Market Size: USD 0.55 Billion
• Forecast Growing Region: APAC
• Largest Market: North America
• Projection Time: 2023- 2032
• Base Year: 2023

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Driving Forces Behind Fibrin Sealants Market

The fibrin sealants market is projected to experience growth momentum in the forecast period due to its expanded usage across various surgical procedures. Nevertheless, market growth beyond 2024 is anticipated to be curtailed due to rising costs associated with fibrin sealants and the emergence of alternative substitutes.

The Fibrin Sealants Market’s expansion is primarily propelled by the rise in the elderly demographic, increasing prevalence of chronic ailments, and growing awareness about the advantages of utilizing fibrin sealants and adhesives. Moreover, the surge in global surgical procedures and adoption of advanced technological products contribute to market growth. As per the World Population Prospects, the global population is estimated to increase from 7.7 billion in 2019 to 8.5 billion in 2030 (a 10% rise), and further to 9.7 billion in 2050 (a 26% increase).

Key Findings of the Study

• On the basis of dosage form, the patch segment held the largest share in the fibrin sealants market trends in 2022.
• By application, the others segment held the largest share in the fibrin sealants market analysis in 2022.
• On the basis of end-user, the hospitals’ segment held the largest market share in 2022 in the Fibrin Sealants industry.
• On the basis of region, North America held the largest market share in 2022 in the Fibrin Sealants industry.

Recent Developments in Fibrin Sealants Market

• In February 2022, Corza had entered into a long- term agreement with Takeda Pharmaceutical Company, under which Takeda will manufacture and supply TachoSil products to Corza.
• In June 2019, Grifols to launch plasma protein based VISTASEAL, a fibrin sealant used to control surgical bleeding.
• In December 2019, Grifols collaborated with Ethicon, a Johnson and Johnson medical device company for commercializing and distributing VISTASEAL in the U.S.

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Key Benefits for Stakeholders

• The study provides an in-depth Fibrin Sealants Market analysis, current trends, and future estimations to elucidate the imminent investment pockets.
• It presents a quantitative analysis of the market from 2022 to 2032 to enable stakeholders to capitalize on the prevailing market Fibrin Sealants Market Opportunity.
• Extensive analysis of the market based on procedures and services assists to understand the Fibrin Sealants Market trends in the industry.
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

Leading Market Players

• Baxter international inc.
• Becton, Dickinson and Company
• Corza Medical
• CSL Behring
• Grifols, s.a.
• Hemarus Therapeutics Ltd.
• Johnson and Johnson
• Nordson Corporation (Nordson Medical)
• Shanghai Raas Blood Products Co. Ltd
• Vivostat A/S

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