European Market for Tissue Sealants Poised to Grow
By HospiMedica staff writers
Posted on 08 Feb 2005
The U.S.$90 million European market for tissue sealants is poised to grow at an annual rate of 17.3% to reach $276 million in 2011, according to a new report from Frost & Sullivan (Palo Alto, CA, USA), an international growth-consulting firm.Posted on 08 Feb 2005
Growth will be gradual due to few technologic advancements, the slow pace of collecting clinical evidence, and unclear product demarcations. Moreover, only 35% of internal surgical procedures are appropriate for the use of sealants, so their use has been limited to only a few procedures. Expanded license indications, accelerated technical progress, and faster clinical data collection are seen as critical to the growth of this virtually untapped market.
Comprehensive clinical data will lend support to the use of tissue sealants in new indications, will be crucial in lessening safety concerns about viral transmission in traditional plasma-based "home brews,” and will promote more frequent use of commercial tissue sealants. Pharmacoeconomic data will help convince doctors about the superiority, versatility, and cost advantages offered by tissue sealants and help justify higher cost outlays.
In 2004, the pooled fibrin sealants segment is forecast to account for 80% of the overall European tissue sealants market, trailed by synthetic sealants with 17%, and autologous fibrin sealants with the remainder. A robust annual growth rate of 74% between 2005 and 2011 is forecast for autologous fibrin sealants, and strong growth potential is forecast for recombinant human tissue sealants, yet to be introduced.
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Frost & Sullivan