Thursday, March 26, 2009

Report predicts excess of 100 million procedures

The market potential for the future utilization of surgical sealants, glues, wound closure and anti-adhesion products is based on the progressive adoption of these products for multiple uses (sealing, hemostasis and even anti-adhesion) and their (more) routine use in surgical and other clinical practice, demographic forces influencing potential caseload and with the changing regulatory demands for this diverse set of products. According to the MedMarket Diligence report #S175, "Worldwide Surgical Sealants, Glues, Wound Closure and Anti-Adhesion Markets, 2009-2013," from 2009 forward, the trends in product adoption and the demographic forces, combined with new product introductions are expected to accelerate market growth. There remains a growing potential for these products to be used in excess of 100 million procedures worldwide. Growth in utilization will exceed double-digit annual rates for new products and for established products in geographic markets that have yet to be fully tapped. 
A number of market leaders have consolidated their positions within the surgical closure and securement markets through successful internal development programs and through technology partnerships with innovative vendors of next-generation technologies. For example, Covidien and Ethicon (Johnson & Johnson) are major suppliers of cyanoacrylate products in the United States; with dominant sales resources to sell these products, these companies lead the market, although they face competition from the Canadian company Glustitch, the U.K.-based Medlogic and others. Synovis (formally Biovascular Inc.) has targeted cardiovascular and other procedures, and has a range of closure products; it has partnered with GEM to develop and exploit GEM’s internal high-strength glue product (Glubran) in the United States. 

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