Global sales of fibrin and other sealants used in the closure and sealing of wounds of various types will grow at a better than 10% compound annual growth rate through 2017. These products are distinct from cyanoacrylate-based and other types of high strength medical adhesives, which still have great upside market potential in further displacing wound closure shares from traditional closure types like sutures and, more recently, staples, but also have lingering technical challenges (such as toxicity) that are generally limiting their use to topical applications.
Growth in sales varies from country to country based on a number of factors like how long the products have been on the market (e.g., longer for Japan than the USA), trends in national expenditures on healthcare, overall economic growth, cultural differences and others.
Below is illustrated the range of growth rates for sales of fibrin sealants by country through 2017. The category “Rest of Asia/Pacific” stands out due primarily to the dramatic economic growth of China and its later adoption of fibrin sealants in clinical practice. The USA remains not only the largest market for fibrin sealants but also one with a growth rate second only to China as a result of the relatively high % of GDP spent in the USA despite years of warnings by economists and politicians that the rate cannot be sustained.
Source: MedMarket Diligence, LLC; Report #S190.
Active companies in the fibrin sealant arena include AccessClosure, Inc.; Advanced Medical Solutions Group plc/ Medlogic Global; Aeris Therapeutics; Angiotech Pharmaceuticals, Inc.; Baxter International Inc.; Baxter UK; C.R. Bard (Bard Medical, Davol); Cohera Medical, Inc.; Covidien Ltd.; CryoLife Inc.; CSIRO PhotoMedical Technologies; CSL Behring; DuPont Applied BioSciences; Grifols S.A.; Harvest Technologies Corporation; HemCon Medical Technologies, Inc.; HyperBranch Medical Technology, Inc.; Johnson & Johnson (Ethicon, Inc., Ethicon Endo-Surgery, Inc., Ethicon Biosurgery); Kaketsuken (Chemo-Sero-Therapeutic Research Institute); LifeBond Ltd.; Ocular Therapeutix, Inc.; Omrix Biopharmaceuticals Inc.; Pharming Group NV; Piramal Healthcare; Pluromed, Inc.; Sea Run Holdings; STB Lifesaving Technologies; Tenaxis Medical; Vivostat A/S.