The global surgical glue market size was US$ 5.2 billion in 2020. The global surgical glue market is forecast to reach the value of US$ 13.5 billion by 2030 by growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2021-2030.
Surgical glue is used to treat traumatic injuries to avoid fluid leakage. The product is also known as surgical adhesive and sealants.
Factors Influencing
The adoption of surgical glues is forecast to increase because of properties like cost-effectiveness and fast recovery. Moreover, the easy availability of surgical glues is forecast to fuel market growth in the coming years.
The growing healthcare expenditure and favorable government initiatives would create promising opportunities for the market players in the global surgical glue market.
Rising cases of accidents, mostly in developing countries, are forecast to fuel the market growth in the coming years.
The unavailability of efficient surgical glues may hamper the market growth during the analysis period.
The different requirements from the end-users may propel the growth of the R&D activities to develop efficient solutions. As a result, it would accelerate market growth.
Geographic Overview
Regionally, North America holds the largest revenue share in the global surgical glue market. The increasing demand for surgical glues, growing healthcare expenditure, government initiatives, and increasing spending on healthcare are all forecasts to propel the region's growth in the global surgical glue market.
Moreover, the increasing demand for tissue-friendly surgical glues may increase opportunities for the market players to grow in the region. The report by TMC Innovation Institute indicates that around 30 million accidents are registered in the United States yearly. With the growing number of cases, the demand for surgeries and surgical glues would ultimately increase.
The Asia Pacific region is forecast to observe rapid growth due to the increasing advancement of clinical specialty products. Moreover, the developing population of elderly people, rising demand for surgical interventions, and government initiatives to improve healthcare infrastructure are all contributing to the market growth.
COVID-19 Impact Analysis
The demand for surgical glues decreased as the healthcare sectors postponed or canceled the surgery cases. Healthcare bodies were all focused on treating the COVID-19 affected patients. Thus, the demand for surgical glues declined rapidly. Moreover, as the economies begin to grow again, the demand for surgical glues would increase rapidly. Due to the COVID-19 pandemic, governments are focusing on enhancing the healthcare sector. Thus, the market players would witness various opportunities.
Competitors in the Market
Market Segmentation
By Product Type
By Application
By End-User
By Region
