The soaring number of surgical procedures are some of the biggest factors responsible for the increasing demand for fibrin glue across the world. The increasing healthcare expenditure in several countries is also fuelling the rise in the demand for fibrin glue throughout the world. As per the data given by the World Bank, 30,537 surgeries per 100,000 population were performed in the U.S. in 2012. In Australia, the number of surgeries that were performed per 100,000 population were 28,907, in 2015.
The increasing incidence of burn cases is another major factor propelling the demand for fibrin glue across the globe. As per the World Health Organization (WHO), the total number of deaths in the world caused by burns every year is 265,000. In addition to this, the rising prevalence of chronic diseases, road accidents, and the low probability of complications arising by the use of fibrin glue are the other important factors boosting the demand for this material throughout the world.
Due to the above-mentioned factors, the global fibrin glue market is expected to exhibit huge progress in the coming years. Fibrin glue is used in various healthcare applications namely cardiac surgeries, vascular surgeries, neurosurgeries, burn bleeding, plastic surgeries, orthopedic surgeries, wound management, pulmonary surgeries, general surgeries, and lacerations of liver and spleen. Out of these, the utilization of fibrin glue was found to be very high in cardiac surgeries in the last few years, due to the usage of fibrin based sealants for tissue adherence and hemostasis in order to prevent the loss of blood during cardiac surgeries.
Fibrin glue is extensively used in cosmetic surgeries around the world. Cosmetic surgeries basically involve the reconstruction, alteration, or restoration of a human body part. Since the last few years, there has been a huge surge in the popularity of cosmetic surgeries owing to the rising focus of people toward their looks and appearance. Fibrin glue is used in these surgeries for holding the tissues together. Fibrin glue is a type of tissue adhesive created from a human or an animal source and is used for healing of wounds, sealing tissues, blood coagulation, and stopping hemorrhage.
Across the world, Asia-Pacific (APAC) is expected to observe rapid growth in the utilization of fibrin glue in the coming years, owing to the presence of a surging geriatric population, increasing prevalence of burn cases, and soaring per capita income of the people in the region. As per the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the share of the number of people aged 65 years and above was almost 11.4% of the population in 2013. Due to these factors, the fibrin glue market is expected to boom in the region in future.
Hence, the demand for fibrin glue is certain to grow throughout the world in the coming years, due to the rising incidence of burn cases and surgical procedures across the world.