CAGR: 7.1%Current Market Size: USD 2.4 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The global surgical glue market is expected to grow from USD 2.4 billion in 2022 to USD 4.26 billion by 2030, at a CAGR of 7.1% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising cases of cardiovascular diseases.
Surgical glue is a sealant or adhesive that medical practitioners and doctors use when treating wounds, cuts, burns, and surgeries. Glue is primarily used to join tissues that have opened as a result of accidental lacerations, or during surgery, such as laparoscopy. A major factor supporting the market's growth is the increase in hospitals and surgical centres in developing economies. Another market growth determinant is the increasing number of applications from emerging countries, as well as technological advancements and innovations in new instruments, the need for blood control in patients during surgery or to close minor and major wounds, and an increasing number of cardiovascular and orthopedic surgeries, are some of the major factors which are boosting the growth of the market. Since genetic engineering interventions can eliminate the allergic effects of natural or nature-derived adhesives and sealants, biocompatible and biodegradable adhesives are expected to gain significant market share. Market revenue growth is expected to be driven by an increase in demand for adhesives exhibiting robust performance for cosmetic and hemostatic applications, both in vitro and in vivo. Meanwhile, the surgical glue market is expected to face challenges owing to the high cost of the product and the requirement of clinical data for new product launches, as well as a shortage of reimbursements and skilled professionals.
Sample Request: - Global Surgical Glue Market
Market Dynamics:
Drivers:
Rising incidences of traumatic incidences are boosting the growth of the market. Surgical glues that have exceptional characteristics, including enhanced bond strength, biocompatibility, versatility, and degradation, can be substituted for conventional sutures and staples. In addition to the growing prevalence of obesity and cardiovascular diseases, surgical glue is also being used to manage blood loss in patients and is contributing to a large share of the market.
Restraints:
Surgical glues are considered to be safe. However, some patients have reported allergic reactions to certain formulations, decreasing the demand for surgical glue to some extent. The rising cases of allergic reactions are hampering the growth of the market. For allergic reactions, it is recommended that the glue be removed with petroleum jelly or acetone and the allergic area is treated topically with 1% hydrocortisone until the reaction decreases.
Opportunities:
Plastic surgery is becoming increasingly popular across the globe, surgical glue has been gaining more licensed indications, and people are becoming more accustomed to painless healing methods, among other factors contributing to the market's growth. In addition, some key factors that are expected to drive the market include an increase in healthcare expenditures, an increase in surgical procedures and burn cases, and a growing geriatric population.
Challenges:
Lack of awareness about surgical glue in less developed economies will create so many challenges for the market to grow. As a result of increased environmental and safety regulations for medical grade products, surgical glue's growth is hindered
Segmentation Analysis:
The global surgical glue market has been segmented based on product type, application, and region.
By Product Type
The product type segments include natural adhesives & sealants and synthetic & semi-synthetic adhesives & sealants. The synthetic & semi-synthetic adhesives & sealants segment led the largest share of the surgical glue market with a market share of around 57% in 2022. A rapid revenue growth rate is predicted for the synthetic & semi-synthetic adhesives & sealants segment during the Projectioned period. In addition to the increasing demand for cyanoacrylate adhesives from pediatricians for treating wounds and cuts in children, the demand for circumcisions is expected to increase because of the increased number of circumcisions in children, which will boost the market growth.
By Application
The application segments include neurosurgery, burn bleeding, cardiovascular surgery, pulmonary surgery, liver and spleen laceration, plastic surgery, wound healing, and others. The cardiovascular surgery segment led the largest share of the food robotics market with a market share of around 21% in 2022. The growing prevalence of cardiac-related diseases globally is leading to the expansion of the surgical glue market. As a result of the increasing number of deaths caused by CVDs, the number of patients receiving cardiovascular surgery is on the rise, as well as reducing blood loss and preventing tissue damage with the help of surgeries, is boosting the growth of the market.
Global Surgical Glue Market- Sales Analysis.
The sale of surgical glue expanded at a CAGR of 6.8% from 2016 to 2022.
An elastic surgical glue has been developed by U.S. scientists that can seal even the toughest wounds without stitches or staples within seconds. Once exposed to ultraviolet light, MeTro is able to seal wounds within 60 seconds. In addition to the special material, there is a degrading enzyme in the glue that can last anywhere from a few hours to several months before it dissolves after the wound has healed.
A major reason for the growth of the surgical glue market is the accessibility and availability of these devices across the globe. Due to the increasing disposable income of residents of these countries and increasing health issues, citizens of both developed and developing countries are spending a substantial amount on healthcare services, propelling the growth of the market.
Thus, owing to the aforementioned factors, the global surgical glue market is expected to grow at a CAGR of 7.1% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the surgical glue market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the surgical glue market and held a 38.6% share of the market revenue in 2022.
Global Surgical Glue Market - Country Analysis:
Germany's surgical glue market size was valued at USD 0.15 billion in 2021 and is expected to reach USD 2.26 billion by 2029, at a CAGR of 7.3% from 2023 to 2030.
New product innovations and product line extensions are expected to drive the surgical glue market in the country. As a result of increasing expenditure on healthcare per capita and cost containment measures to reduce healthcare burdens in the country, the market is also expected to grow. Due to the growing prevalence of spinal injuries, spine surgery is predicted to have the fastest growth rate over the Projection period.
China’s surgical glue market size was valued at USD 0.19 billion in 2021 and is expected to reach USD 2.33 billion by 2029, at a CAGR of 7.5% from 2023 to 2030.
With the growing population, the country has been adapting and advancing itself technologically, with the rise in obesity, cancer, and other deadly diseases among the population boosting the demand for surgical glue. Traumatic injuries are on the rise, disposable medical devices are being used more frequently, and advanced medical equipment and devices are being emphasized. Moreover, an increase in healthcare infrastructure spending is one of the major factors contributing to the surgical glue market growth.
India's surgical glue market size was valued at USD 0.14 billion in 2021 and is expected to reach USD 2.24 billion by 2029, at a CAGR of 7.4% from 2023 to 2030.
The surgical glue market is positively impacted by high disposable income, advancements in healthcare infrastructure, an increase in awareness, and a rise in traumatic injuries. In addition, adhesive dentistry is expected to increase profitability for the market players during the Projection period.
Key Industry Players Analysis:
To increase their market position in the global surgical glue business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
7.1% |
Market Size |
2.4 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Application, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
CSL Limited, Sanofi, CryoLife Inc., Baxter International Inc., Johnson & Johnson, Sealants Ltd., Cohera Medical, Inc., B. Braun Melsungen AG, Vivostat, and Ocular Therapeutics Inc. |
By Product Type |
|
By Application |
|
Regional scope |
|
Scope of the Report
Global Surgical Glue Market by Product Type:
Global Surgical Glue Market by Application:
Global Surgical Glue Market by Region:
Global Surgical Glue market is expected to reach USD 4.26 billion by 2030.
The Surgical Glue market is projected to have a CAGR of 7.1%.
Leading market players active in the global Surgical Glue market are CSL Limited, Sanofi, CryoLife Inc., Baxter International Inc., Johnson & Johnson, Sealants Ltd., Cohera Medical, Inc., B. Braun Melsungen AG, Vivostat, and Ocular Therapeutics Inc. among others.
Based on the application, the global Surgical Glue market has been segmented into Neurosurgery, Burn Bleeding, Cardiovascular Surgery, Pulmonary Surgery, Liver and Spleen Laceration, Plastic Surgery, Wound Healing, and Others.
Based on the product type, the Surgical Glue market is segmented into Natural Adhesives & Sealants and Synthetic & Semi-Synthetic Adhesives & Sealants.
Political Factors- For the purpose of fostering a cooperative company climate, a transparent governance structure is essential. A number of problems are currently affecting the surgical glue market as a result of corruption and a lack of openness. The fundamental cause of this lack of openness is the current political unpredictability and volatility. Fraudulent activities are increasing, corporate processes like licencing and contracting have gotten more complicated, and law enforcement has been weaker as a result of corruption, which is hurting stakeholders' trust in commercial enterprises and governmental institutions. In general, increased bureaucratic corruption is slowing economic expansion, which limits prospects for markets like the surgical glue market to thrive.
Economic Factors- High financial market efficiency facilitates capital accumulation and the production of goods and services by sharing a strong positive relationship with overall economic growth. So that it can readily amass financial and human capital, the surgical glue market must opt for nations with highly efficient financial markets. surgical glue market may successfully stay one step ahead of the competition by keeping an eye on the efficiency of the financial market. When deciding whether to expand internationally, the surgical glue market should consider the economic growth rates of the various nations. More options to pursue long-term growth goals exist in nations with high economic growth rates. Consumer spending becomes more cautious when the economy is growing slowly, which has a direct impact on the surgical glue market's revenue growth.
Social Factors- Respect for hierarchy and social class stratification are two significant social characteristics that might affect the surgical glue market's commercial, marketing, and human resource management initiatives. When entering nations with high power distance, the surgical glue market is most comfortable in hierarchical structures with formal work cultures. The requirement for efficient market segmentation techniques is also indicated by increased social stratification because the surgical glue market cannot target many categories from various social classes using the same marketing mix.
Technological Factors- The research and development trend in the selected industry or region shows how proactive businesses are in introducing cutting-edge solutions for customer needs. surgical glue market must improve its comprehension of how new technical advancements can help the company in addition to offering value to customers. In markets defined by disruptive technology, significant investment in research and development efforts would be necessary. However, it is crucial for the surgical glue market to have a long-term perspective and not anticipate a quick payoff from its R&D activities.
Environmental Factors- The adoption of the closed-loop, circular economy approach is becoming the standard in various regions and industries in some nations. Industries with enabling institutional frameworks can facilitate material recycling and reuse. Similar to this, customers actively participate in recycling in several nations. surgical glue market may take advantage of these trends in sustainability and utilise them as a tool to not only achieve economic goals through lower manufacturing costs but also minimise environmental costs.
Legal Factors- For markets like the surgical glue market, strict adherence to intellectual property rules makes the business climate safer since their patents are safeguarded from copying, resulting in durable competitive advantage. Numerous federal and state laws are in place in several nations to safeguard consumers against potential commercial exploitation. The regulations have tightened up much more in the age of information technology to protect consumer privacy. surgical glue market must scrupulously abide by the data protection requirements when conducting online transactions in order to prevent lawsuits.
List of Table
List of Figures