Adhesion Barrier Market To Reach $769 Million By 2025 | Financial Market Growth Analysis
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Summary
- Financial Market Growth and Impact Analysis of Adhesion Barrier Market.
According to the new market research report "Adhesion Barrier Market by Product (Regenerated Cellulose, Hyaluronic Acid, Polyethylene Glycol, Fibrin, Collagen & Protein), Type (Film, Gel, Liquid), Application (Abdominal, Orthopedic, Cardiovascular, Gynecological Surgery) - Global Forecast to 2025", published by MarketsandMarkets™, the market is valued at an estimated USD 529 million in 2020 and is projected to reach USD 769 million by 2025, at a CAGR of 7.8% during the forecast period.
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The increasing volume of surgeries and sports-related injuries, rising geriatric population, and the increasing awareness about adhesion formation and adhesion-related diseases are the major factors driving the growth of this market. On the other hand, the reluctance towards the usage of adhesion barriers amongst surgeons is expected to restrain the growth of adhesion barrier market during the forecast period.
However, currently, due to the COVID-19 pandemic, this market is witnessing a slight dip in its growth rate as a result of the decrease in the number of surgical procedures performed to safeguard patients. The dip in surgical interventions is uneven, as different countries were affected by the virus at different points of time in the year. This has resulted in variations in the normal operation of healthcare facilities, such as hospitals and surgical centers. The normalization of the global economy will slowly increase the surgical procedures kept on hold. This will, in turn, lead to a growth in the demand for biosurgery products such as adhesion barrier products from the last quarter of 2020 across North America and Europe, and from the first quarter of 2021 across the rest of the world. The Adhesion Barriers Market is further segmented based on the type, formulation, application, and region.
The synthetic adhesion barriers accounted for the largest share of the Adhesion Barrier Market, by type of product, in 2019.
Based on products, the market is further segmented into synthetic and natural adhesion barriers. In 2019, the synthetic adhesion barriers segment accounted for the largest share of the market. Growth in this segment can be attributed to the large number of commercially available synthetic adhesion barriers and their higher utilization as compared to natural adhesion barriers by surgeons in various surgical procedures.
Gel based formulation is the fastest growing segment of the Adhesion Barrier Market, by formulation
Based on the type of formulation, the market is segmented into film formulations, gel formulations, and liquid formulations. In 2019, film formulations dominated the market owing to the higher adoption of the film form of adhesion barriers by surgeons, coupled with the availability of clinical safety and efficacy data for these formulations.
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North America will continue to dominate the Adhesion Barrier Market in 2025
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America accounted for the largest share of the market. The large share of the market in North America can primarily be attributed to factors such as the well-developed healthcare system in the region, high public and private healthcare expenditure, growth in the geriatric population, and the increasing incidence of chronic and lifestyle disorders.
The Adhesion Barrier Market is a highly fragmented market with the presence of several multinational and local market players. Some of the prominent players include Baxter International (US), Johnson & Johnson (J&J) (US), Becton, Dickinson and Company (US), Integra LifeSciences (US), Anika Therapeutics (US), Atrium Medical Corporation (US), FzioMed (US), MAST Biosurgery (Switzerland), Innocoll (Ireland), Betatech Medical (Turkey), CorMatrix Cardiovascular, Inc. (US), Terumo Corporation (Japan), BiosCompass (US), W.L.Gore & Associates (US), and Allosource (US).
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