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High Viscosity Tissue Adhesives Market Report
High Viscosity Tissue Adhesives Market, By Type (2-OCA, n-2BCA), End-User (Hospitals, Ambulatory Surgical Centers, Trauma Centers), and Region - COVID-19 Impact Analysis and Forecast to 2026.
Impact of COVID-19 on High Viscosity Tissue Adhesives Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The High Viscosity Tissue Adhesives market is projected to grow from USD xx billion in 2020 to USD xx billion by 2026 at a CAGR of around x% during the forecast period.
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Tissue adhesives are defined as liquid monomers which undergo a reaction upon exposure to a moist surface (skin), changing to a polymer that forms a powerful tissue bond. The high viscosity tissue adhesives are referred to as different combinations of cyanoacrylate. The most cyanoacrylate compounds available within the marketplace for high viscosity tissue adhesives include 2-Octyl Cyanoacrylate (2-OCA), n-2-Butyl Cyanoacrylate (n-2BCA) and 2-Ethyl Cyanoacrylate.
Key players operating in the High Viscosity Tissue Adhesives market are-
The growth of the high viscosity tissue adhesives market is primarily driven by the widespread use of high viscosity tissue adhesives in surgeries. Expanding geriatric population and increasing incidences of accidental injuries are expected to propel the market growth at a significant rate during the review period. Additionally, increasing spending on R&D activities to meet the growing demand for new products is likely to create lucrative opportunities for the market players during the review period. However, the growing preference for minimally invasive surgeries is likely to affect the market growth during the review period.
By end-user, the high viscosity tissue adhesives market has been bifurcated into hospitals, ambulatory surgical centers, and trauma centers. Under these, the hospitals' segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the presence of required healthcare infrastructure and skilled healthcare staff.
By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to the prevalence of chronic accidental injuries, expanding geriatric populace, and presence of key market players such as Pfizer Inc. (US) and Johnson and Johnson (US). The market growth in the Asia-Pacific region is expected to be driven by rising cases of injuries.
The outbreak of the COVID-19 virus has affected the growth of the healthcare industry significantly. Stringent lockdown measures and restricted movement of people affected the product supply for a short period and thus, affected the market growth.
Here is the list of the group of customers that the high viscosity tissue adhesives market hopes to have the greatest opportunity to convert-
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Pfizer Inc. (US), Johnson and Johnson (US), Cohera Medical, Inc. (Slovenia), B. Braun Corporation (Germany), Chemence Medical, Inc. (US), Reevax Pharmaceuticals Pvt. Ltd. (India), Cardinal Health, Inc. (US), CryoLife, Inc. (US), Meyer-Haake GmbH Medical Innovations (Germany) and Vygon Ltd (UK) are among the key players in the High Viscosity Adhesives Market.
The hospitals' segment is expected to register significant growth in the high viscosity adhesives market in the coming years.
North America accounted for the largest share in the high viscosity adhesives market in 2020.
High viscosity tissue adhesives distributors, High viscosity tissue adhesives suppliers, High viscosity tissue adhesives manufacturers, Logistics organizations, Government bodies are the target audience in the high viscosity adhesives market.
The widespread use of high viscosity tissue adhesives in surgeries is the prime factor driving the growth of high viscosity adhesives market.
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