Fibrin Sealant Patch Market Size, Share & Industry Analysis, By Application (Gastrointestinal surgery, Trauma, Neurosurgery, Cardiovascular surgery, Others), By End-user (Hospitals, Specialty Clinics & Ambulatory Surgery Centres, Others) and Regional Forecast, 2024-2032

In October 2016, Ethicon US, LLC. a subsidiary of Johnson & Johnson Services, Inc. announced that it received FDA approval for the company’s Evarrest fibrin sealant patch indicated to be used in a broad range of surgical procedures. The fibrin sealant patch is a two-component hemostatic patch, which contains, fibrinogen and thrombin derived from human plasma embedded in flexible composite patch either made of collagen or cellulose. Since the fibrin sealant patch brings both human fibrinogen and thrombin to the bleeding site, it does not rely on patient blood having adequate levels of fibrinogen to achieve hemostasis. A rising trend in the adoption of fibrin sealant patch is expected due to the various medical benefits of the innovative product offers. The fibrin sealant patches provide excellent enhancements in efficacy in surgery because they are easily combined with manual pressure to arrest bleeding. Additionally, the usability of the fibrin sealant patch has improved because they may be stored at room temperature and they two-component in packages ready for immediate use, and this is projected to increase the acceptance of the product during surgeries. Contrarily, liquid hemostatic products are more complex to prepare as it requires thawing, mixing and/or applicator loading.

Key Market Driver -

Growing number of surgeries across the globe

Key Market Restraint -

Risk of anaphylaxis and blood-borne disease transmission in addition to high cost of fibrin sealant patch

An increasing number of surgical procedures across the globe is expected to boost the global fibrin sealant patch market value during the forecast period. According to the America Hospital Association survey (2014), an estimated 17.2 million ambulatory hospital visits or inpatient stays required invasive, therapeutic surgery in the United States. Certain drawbacks of current hemostatic products which include limitations with efficacy and suboptimal ease-of-use are projected to increase the adoption of fibrin sealant patch in forthcoming years. One of the major advantages of fibrin sealant patch is that it can achieve hemostasis within 3-4 minutes of application.

Use of fibrin sealant causes anaphylactic reactions which may lead to further surgical complications. Reported cases of anaphylaxis which are caused due to the fibrin sealant patches are one of the factors expected to restrain the global fibrin sealant patch market growth during the forecast period. Additionally, the comparatively higher cost of fibrin sealant patch to that of traditional hemostatic products is projected to restrain the fibrin sealant market growth. High risk of transmission of viral and/or prion diseases due to the use of human pooled plasma in the fibrin sealant patch is expected to harm the growth of fibrin sealant patch.

Key Players Covered:

The major companies covered in the global fibrin sealant patch market report include Ethicon US, LLC.  Baxter and others.

As per the current fibrin sealant patch market trends, hospitals are holding the major share of the global fibrin sealant patch market due to the high requirement of hemostatic patches during surgeries.

Key Insights:

• Overview of Regulatory Scenario For Key Countries


• Key Industry Trends


• Key Industry Developments - Mergers, Acquisitions, and Partnerships, 2018


• Healthcare Overview – Number of Surgeries in Key Countries

Regional Analysis:

The global fibrin sealant patch market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to hold a dominating position in the fibrin sealant patch market share owing to highly developed healthcare infrastructure, accessibility of expertise and increasing awareness among the healthcare professionals regarding advantages of fibrin sealant patch. Additionally, the increasing requirement of cardiovascular surgeries and growing incidences of trauma cases in these regions are projected to be one of the major fibrin sealant market drivers.

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On the other hand, the countries of Europe are expected to follow the lead owing to increasing number of hospitalization, availably of trained healthcare professionals, combined with active government initiatives regarding healthcare infrastructure. Asia Pacific is projected to register comparatively higher CAGR owing to the higher patient pool experiencing cardiovascular and gastrointestinal medical indications. Countries of Latin America and Middle East and Africa captured a lower fibrin sealant market share owing to lower awareness regarding the product combined with the higher cost associated with the product compared to traditional hemostatic patches.

Segmentation

Fibrin Sealant Patch Industry Developments

• In May 2019, Takeda Pharmaceutical Company Limited announced the divesture and sale of TachoSil to Ethicon US, LLC for US$ 400 Mn.


• In April 2016, Takeda Pharmaceutical Company Limited announced the European Union approval of TachoSil extended indication in neurosurgery.


• In March 2016, Ethicon US, LLC. announced that it has completed Phase III clinical trials of Evarrest fibrin sealant patch.