(PharmaNewsWire.Com, May 21, 2020 ) What is the future growth analysis of global Adhesion Barrier Market?
The global Adhesion Barrier Market is projected to reach USD 806.4 Million by 2023 from USD 570.7 Million in 2018, at a CAGR of 7.2%.
What are key factors driving growth of global adhesion barrier market?
The growth of this market is driven by the growth in the geriatric population and corresponding age-related chronic diseases, epidemiological shift from infectious to chronic diseases, growing volume of surgical procedures and sports-related injuries, and increasing awareness about the medical complications occurred due to post-surgical adhesion formation.
What the growth opportunities are in adhesion barrier market?
In the current market scenario, there is a growing demand for adhesion barrier. The market has been categorized based on the product, formulation, application, and region.
Based on the product type synthetic adhesion barriers accounted for the largest share of the adhesion barrier market in 2017, owing to the benefits offered by synthetic adhesion barriers, such as high biocompatibility, bioresorbable property, which eliminates the need for a second surgery for the removal of the implant, and cost-effective as compared to natural adhesion barrier.
By formulation, the market is segmented into film formulation, liquid formulation, and gel formulation. The film formulations segment accounted for the largest share of the market in 2017, owing to the higher adoption of film-form adhesion barriers by surgeons in various surgeries, coupled with the availability of ample clinical evidence supporting the safety and efficacy of these formulations.
By application, the market is segmented into gynecological surgeries, general/abdominal surgeries, cardiovascular surgeries, orthopedic surgeries, neurological surgeries, reconstructive surgeries, urological surgeries, and other surgeries (such as ear, nose, throat, and burn surgeries). The gynecological segment accounted for the largest share of the market in 2017. Factors such as the increasing number of C-section surgeries, rising incidence of pelvic/uterine cancer, and increasing prevalence of conditions such as infertility and incontinence responsible to drive this market.
Geographic Growth Analysis:
Geographically, the global adhesion barrier market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America holds the largest share of this market in 2017. This is primarily due to the increase in the aging population, increasing number of soft tissue injuries and the consequent growth in the number of surgical procedures, higher government expenditure on healthcare, and well-established healthcare services across North America.
On the other hand, Asia Pacific region is expected to grow at a higher CAGR during the forecast period. The rising healthcare expenditure in these regions, growing volume of surgical procedures, and growing awareness about adhesions and their complications are driving the growth of adhesion barrier markets.
The key players include Johnson & Johnson (J&J) (US), Sanofi (France), Baxter International (US), C.R. Bard (US), Integra LifeSciences (US), Anika Therapeutics (US), Atrium Medical Corporation (US), FzioMed (US), MAST Biosurgery (Switzerland), Innocoll Holdings (Ireland), Betatech Medical (Turkey), SyntheMed (US), Aziyo Biologics (US), Biom’up (France), Terumo Corporation (Japan), and BMI Korea Co. (South Korea). These players focus on both organic and inorganic growth strategies such as product launches, partnerships, and agreements to maintain and enhance their market share in the market.
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