In the past two decades, the number of products, applications and companies in the field of surgical sealants and glues has grown dramatically as the products' applications and performance have been met by robust demand on the part of a wide variety of clinical specialties worldwide. Fibrin and other sealants alone (excluding hemostats and high-strength medical adhesives) will reach a global market in excess of $2 billion within five years.
Considering the number of active companies (well over 100) in the field of sealants, glues, hemostats, post-surgical adhesion products and the "traditional" wound closure products of sutures, staple and mechanical closure, one might conclude that the field is crowded. However, the concentration of competitors is ultimately determined by both the current and potential market in which they would compete. Therein lies the drive for continued growth in the number of companies in this field, as evidenced by what can be considered the "actual" versus "potential" market, at least in theory. By this, the actual market for a product is simply the current revenues, while the potential market is the revenues for for that product's competitors. Looking a fibrin and other sealants, the potential market may therefore be considered to be the current revenues for sutures, staples, clips and other mechanical closure.
Source: "Worldwide Surgical Sealants, Glues, Wound Closure and Anti-Adhesion Markets, 2010-2017", Report #S190; MedMarket Diligence, LLC
Of course, this is somewhat of an academic exercise, since not all fibrin sealants can be expected to effectively replace all sutures/staples/clips/etc., but the potential for fibrin sealants lies significantly within those competing revenues.