Surgical Sealant and Adhesives Market Size

Surgical Sealants and Adhesives Market Analysis

The Surgical Sealant and Adhesives Market size is estimated at USD 2.31 billion in 2024, and is expected to reach USD 3.20 billion by 2029, growing at a CAGR of 6.78% during the forecast period (2024-2029).

The pandemic had ramifications for ways of working on various surgical procedures. There were strict guidelines for each specialty implemented and followed for surgeons to continue providing safe and effective care during the COVID-19 pandemic. The volume of surgeries significantly declined during the pandemic, owing to the stringent guidelines by regulatory authorities to avoid all non-emergent surgeries, impacting the procurement of surgical sealants and adhesives in surgical centers. The surgical procedures were delayed, and the number of surgical procedures decreased. According to the article published in the National Institute of Health in October 2021, there was a 42.8% decline in general surgery admission across the globe. According to the British Journal of Surgery report, in May 2020, around 48,728 surgical procedures per week were canceled in India, estimating about 585,000 surgical procedures for 12 weeks. This decline in surgical techniques led to decreased demand for surgical sealants and adhesives. However, the resumption of postponed surgeries after the relaxation of strict lockdown restrictions on surgical care contributed to the market's growth over the forecast period.

The increasing prevalence and burden of chronic diseases worldwide drive the demand for effective and advanced treatment involving surgical procedures. Due to this factor, the number of surgical procedures performed worldwide is increasing and further expected to rise shortly, which is expected to significantly impact the growth of the surgical sealant and adhesives market during the forecast period of the study.

As per the NCBI research study published in September 2020, about 11% of the global burden of disease requires surgical, or anesthesia care or both, and an estimated 3,646 surgeries would be required annually to meet the surgical needs of the Indian population as compared to the global estimate which is 5,000 surgeries per 100,000 people. Thus, with the rising demand for surgical procedures worldwide, the need for surgical sealants and adhesives is expected to increase, driving the market's' growth. Similarly, according to the NCBI research study published in June 2021, a total of 92,809 operations were classified as heart surgery procedures in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantation increased by 2% to 340. Hence, the high number of heart procedures and surgeries performed yearly is anticipated to boost growth in the surgical sealants and adhesives market.

Sealants and adhesives are an integral part of any surgery. They play a vital role in surgeries as they help the tissues to heal. Due to the rising prevalence of chronic diseases, surgeries have increased as most chronic diseases in later stages demand surgeries. As per Dementia Australia updates from July 2022, more than 459,000 Australians were living with dementia in 2020, and about 1.6 million were involved in their center for care. It is estimated that the number of people with dementia is expected to reach 1.1 million by 2058, and dementia will become the second-leading cause of death in the country in the next five years.

The volume of knee and hip replacement surgeries increased in recent years, increasing the demand for surgical sealants and adhesives and positively impacting the market studied. With the increase in surgical procedures, their order is expected to increase, and the studied market will grow. For instance, as per the June 2021 report of the Canadian Institute of Health Information, 63,496 hip replacements and 75,073 knee replacements were performed in 2020 in Canada, and there was an average increase of about 5% in recent years in the knee and hip replacement procedures in the country. Such an increase in surgical procedures is expected to drive the demand for surgical sealants and adhesives, thereby contributing to the market's growth.

However, reimbursement policies not favoring surgical sealants and adhesives and the availability of alternative methods are expected to restrain the growth of the surgical sealant and adhesives market.