Surgical Glue Market Size & CAGR
The global surgical glue market size was valued at USD 1.5 billion in 2023, with a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period from 2023 to 2030. The forecasted growth rate from 2023 to 2030 is expected to reach USD 2.5 billion by the end of 2030.
COVID-19 Impact on the Surgical Glue Market
The COVID-19 pandemic had a mixed impact on the surgical glue market. On one hand, the increased focus on healthcare facilities and the rise in surgical procedures led to a surge in demand for surgical glue. However, disruptions in the global supply chain and logistics posed significant challenges for market players. Despite these challenges, the market managed to maintain a steady growth trajectory amidst the pandemic.
Surgical Glue Market Dynamics
The surgical glue market is driven by factors such as the increasing prevalence of chronic diseases, rising number of surgical procedures, advancements in surgical techniques, and growing demand for minimally invasive procedures. On the other hand, challenges related to product efficacy, regulatory approvals, and competition from other wound closure methods act as restraints in the market. However, the market presents opportunities for growth through technological innovations and strategic partnerships.
Segments and Related Analysis of the Surgical Glue Market
The surgical glue market can be segmented based on technology, product, application, and end-user. By technology, the market is divided into cyanoacrylate-based, fibrin-based, and others. In terms of product, the market includes natural surgical glue and synthetic surgical glue. The application segment covers cardiovascular surgeries, orthopedic surgeries, cosmetic surgeries, and others. Lastly, the end-user segment comprises hospitals, ambulatory surgical centers, and specialty clinics.
Surgical Glue Market Analysis Report by Region
Asia Pacific Surgical Glue Market Report
The Asia Pacific region is witnessing significant growth in the surgical glue market due to the increasing prevalence of chronic diseases, rising healthcare expenditure, and advancements in healthcare infrastructure. Countries like China, Japan, and India are major contributors to the market growth in this region.
South America Surgical Glue Market Report
South America is showing steady growth in the surgical glue market, driven by the growing healthcare sector, rising number of surgical procedures, and increasing adoption of advanced medical technologies. Countries like Brazil, Argentina, and Colombia are key markets in this region.
North America Surgical Glue Market Report
North America leads the global surgical glue market, attributed to the well-established healthcare infrastructure, high healthcare expenditure, and presence of major market players in the region. The United States and Canada are key markets driving the growth of surgical glue in North America.
Europe Surgical Glue Market Report
Europe is a significant market for surgical glue, with countries like Germany, the United Kingdom, and France playing a crucial role in market growth. The region benefits from advanced healthcare systems, technological advancements, and increasing demand for minimally invasive procedures.
Middle East and Africa Surgical Glue Market Report
The Middle East and Africa region exhibit growth opportunities for the surgical glue market, driven by the expanding healthcare infrastructure, rising healthcare expenditure, and increasing awareness about advanced wound closure methods. Countries like Saudi Arabia, UAE, and South Africa are key markets in this region.
Surgical Glue Market Analysis Report by Technology
The surgical glue market can be analyzed based on different technologies such as cyanoacrylate-based glue, fibrin-based glue, and other innovative technologies. Cyanoacrylate-based glue is widely used in surgical procedures due to its quick bonding properties and strength. Fibrin-based glue is preferred for its biocompatibility and hemostatic properties. The market is also witnessing advancements in other technologies to enhance the efficacy and applicability of surgical glue.
Surgical Glue Market Analysis Report by Product
The surgical glue market offers a range of products including natural surgical glue derived from biological sources and synthetic surgical glue developed in laboratories. Natural surgical glue is favored for its biocompatibility and reduced risk of adverse reactions. Synthetic surgical glue, on the other hand, provides enhanced bonding strength and durability. The choice of product depends on the specific requirements of the surgical procedure and patient needs.
Surgical Glue Market Analysis Report by Application
The application of surgical glue covers a wide range of surgical procedures across various medical specialties. Cardiovascular surgeries, orthopedic surgeries, cosmetic surgeries, and other specialized procedures utilize surgical glue for wound closure and tissue bonding. The effectiveness of surgical glue in different applications is evaluated based on its bonding strength, biocompatibility, and ease of use.
Surgical Glue Market Analysis Report by End-User
End-users of surgical glue include hospitals, ambulatory surgical centers, and specialty clinics. Hospitals are the primary users of surgical glue due to the high volume of surgical procedures performed in these settings. Ambulatory surgical centers are adopting surgical glue for minimally invasive procedures, while specialty clinics specialize in specific surgical specialties where surgical glue offers unique advantages.
Key Growth Drivers and Key Market Players of Surgical Glue Market
Key growth drivers for the surgical glue market include the increasing demand for minimally invasive procedures, advancements in surgical techniques, rising healthcare expenditure, and the growing prevalence of chronic diseases. Key market players operating in the surgical glue market include:
- Ethicon Inc. (Johnson & Johnson)
- B. Braun Melsungen AG
- Baxter International Inc.
- CryoLife Inc.
- C.R. Bard Inc. (Davol Inc.)
Surgical Glue Market Trends and Future Forecast
The surgical glue market is witnessing several trends, including the development of bio-adhesive materials, the introduction of innovative delivery systems, and the incorporation of antimicrobial properties in surgical glue. Future forecasts indicate a growing demand for surgical glue in various surgical specialties, advancement in glue formulations for specific applications, and strategic collaborations among market players for product development and expansion.
Recent Happenings in the Surgical Glue Market
Recent developments in the surgical glue market include:
- Ethicon Inc. introduced a new surgical glue with enhanced bonding strength.
- Baxter International Inc. collaborated with a research institution to develop a bio-adhesive for cardiac surgeries.
- CryoLife Inc. acquired a competitor to expand its product portfolio in surgical glue.