January 31, 2005
For Immediate Release
Products and Applications Proliferate in Growing Market for Surgical sealants, Glues and Wound Closure, According to a New Report from MedMarket Diligence
FOOTHILL RANCH, CAŚ The market potential for products in the surgical securement field is driven by a combination of new technologies coming to market and expanding application caseloads. The potential for these products will grow steadily over the coming decade as surgical practices improve and the benefits of new products address the requirement for fast and effective closure.
MedMarket Diligence forecasts that approximately 70 million procedures around the world might benefit from sealants, glues, and other wound closure products in this group. Select products and applications will grow at rates near 20 percent annually.
In the next few years, we will see strong penetration of new therapies into new procedure areas, and some new introductory techniques for treatment of orthopedic, cardiovascular and neurological procedures, particularly in the second half of this decade, when several new products and procedures will appear in all of these categories.
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, U.S. Surgical and Ethicon are major suppliers of cyanoacrylate products in the USA; with dominant sales resource to sell these products, these companies lead the market, although they will face competition from the Canadian company Glustitch, the UK-based MedLogic and others. Synovis has targeted cardiovascular and other procedures, and has a range of closure products and has recently partnered with GEM to develop and exploit GEM�s internal high strength glue product (Glubran) in the USA.
The market remains replete with competitors, including Focal (Genzyme Biosurgery), Angiotech BioMaterials (Cohesion Technologies), Fusion Medical, Confluent Surgical, CryoLife, Medchem (C.R. Bard), Tissuemed, Surgical Sealants, Ethicon/Closure Medical, U.S. Surgical (Tyco Group), Haemacure, MedLogic Global (Advanced Medical Solutions), GEM srl, Chemence, Glustitch, Berlin Heart, and many others.
The "Worldwide Surgical Sealants, Glues and Wound Closure Market, 2004-2014" report, published January 2005, covers sealants, tapes, sutures, staples, hemostats, fibrin sealants/glues and medical adhesives. The report details the clinical and technology developments underlying growth and opportunity in the market, detailing products on the market and under development, with detail on market size and forecast, competitor market shares, competitor profiles and market opportunity. Details of the report, including table of contents and list of exhibits, are available at www.mediligence.com/rpt-s122.htm.
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