According to FutureWise analysis the market for fibrin sealant in 2023 was US$ 1.32 billion, and is expected to reach US$ 2.78 billion by 2031 at a CAGR of 9.72%.
Fibrin sealant is a biological agent that is used to control bleeding in surgeries or injuries where ligation, suturing or cautery does not provide enough haemostasis. Fibrin is a mixture of thrombin or fibrinogen which is applied to the affected area in order to prevent haemorrhage. Additionally, a permanent factor for regional growth is also delivered by fibrin as it is also used as a delivery device. It is also an excellent blood clotting agent and it can also do tissue sealing so that it can prevent serious fluid accumulation or lymphatic leak. Considering all these properties, fibrin sealant is an ideal component for reducing fluid accumulation, ecchymoses, hematomas, swelling etc. Perhaps, it also eliminates the need for drains after rhytidectomy.
Fibrin sealant market is primarily driven by increasing prevalence of invasive surgeries and traumatic injuries. Recent advancements have led to the development of biocompatible sealants which decreased the complications and allow normal movement of tissues without any interference on the functioning of the organs. Traditionally, sutures/wires/staples are used for wound sealing and they pose significant threats like tissue damage, infection and delayed the repair of the tissue. Due to the rapid advancements of technologies, traditional methods are replaced by sealants and let to the burgeoning growth of the market. Among the different types of sealants, synthetic adhesives offer high mechanical and adhesive strength. These features made the synthetic surgical sealants most attractive segment over natural sealants and expected to witness significant growth during the forecast period. All these factors have led to the potential growth of the market.
Market is dominated by the Asia Pacific due to the high prevalence of traumatic injuries and invasive surgeries. It is expected to gain more traction during the forecast period due to increasing prevalence. It is followed by North America and it dominated by the US due to high dollar opportunity. Europe is the third major shareholder in the global market due to increasing incidence during the forecast period. Latin America and Rest of World are the fast growing regions due to increasing adoption among the end user segment. They account a small fraction of the global market and expected to increase traction during the forecast period.