Smart Structures in the Dural Sealants Sector: Evolving into a Major Market Opportunity
Dural sealants are typically used after a surgery or a traumatic injury to bind or hold external tissue such as skin as well as internal tissue such as blood vessels. These surgical sealants have broad applications in the medical field. They are used to hold skin, internal organs, blood vessels, and other tissues of the human body together at the time of surgery. These sealants help control blood loss and in healing damaged tissues. These devices can be used alone or in conjunction with mechanical sealing process using sutures and staples.
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The North American dural sealants market is expected to grow significantly primarily due to the upgraded regulations and the restructured standards. The implementation of such regulations would further instigate the demand for surgical sealants such as dural sealants. The increased awareness among consumers would further initiate the demand for high value added sealants The U.S. is the world’s largest market for healthcare. The medical devices market comprises primary devices producers along with a number of smaller, niche and secondary producers. The healthcare industry produces high volume of these sealants in the region.
Growing advancement in surgical technology is expected to be one of the primary factors driving the dural sealant market. Growing healthcare industry, aging population and standardization across the industry have been driving demand surgical devices in emerging countries such as India and China over the last five years. With the rising number of patent expiries, Asian countries have emerged as hot-spots for dural sealants manufacturing and are further expanding the demand for these sealants in the continent.
China has been rapidly expanding its medical devices manufacturing capabilities and this will offer the strongest growth opportunities for global market participants over the next five years. In addition, the phasing-in of a far-reaching government program intended to upgrade the quality and integrity of nationally produced medical devices in China is driving the dural sealant market. Among other key developing economies, India and Brazil are expected to emerge as rapidly growing markets as medical sectors are upgraded and diversified.
The Indian healthcare market is heavily geared towards low-priced generics that will compete against high-priced blockbuster sealants with the same results. The anticipated high volume generics output in India is expected to have a ripple effect and spike the growth of the dural sealants market.
Demand for dural sealants was highest in North America and Europe. However, Asia Pacific is expected to show the fastest growth over the forecast period on account of increasing government initiatives, growing contract manufacturing activities and ageing population. The dominance of the North American region in the healthcare market is primarily due to the large demand of medical devices in the U.S. and Canada. The Asia Pacific region is expected to have the highest growth in the wake of new patent expiries and manufacturing of generic drugs in the market. With major countries following the healthcare government mandates, the healthcare industry is expected to grow in the next six years.
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Some of the key players of the dural sealants market are AccessClosure Inc., Alltracel Pharmaceuticals plc, Baxter International, C.R. Bard Inc., Cryolife, Inc., Ormrix Biopharma-ceuticals Inc, Pharming Group N.V., St. Jude Medical, ThermoGenesis Corporation, Synovis Life Technologies, Inc, Tissuemed Ltd., ThermoGenesis Corporation Vascular Solutions Inc and HyperBranch Medical Technology among others.