The global Gelfoam market achieved sales of close to a 9,300 K units in 2017. In the same year, the global Gelfoam market reached a valuation of US$ 738 Mn. Exhibiting a growth rate of 5.75% on an average, the global Gelfoam market has shown healthy rise in the recent years.
Global Gelfoam Market: Drivers
Introduction of new products is envisioned to push the growth of the global Gelfoam market. Gelfoam sponges have higher capacity to first absorb and then to hold the blood within its meshes for several times. This is one of the significant factors behind an increasing demand of gelfoams which is ultimately expected to create positive impact on the global gelfoam market. The demand for Gelfoam products that are manufactured with specially purified and treated gelatin solution is also likely to increase in the near future.
Gelfoam sponges that can be absorbed in a quick period of time, i.e. within 4-6 weeks with no excessive scarring are predicted to show promising market growth. There are some products offered in the market that completely liquefy in 2-5 days when applied to bleeding areas of vagina, rectum, or nasal mucosa. The availability of such medically advanced products is likely to create a robust growth in the global Gelfoam market. Increasing research and development could be another factor augmenting the demand in the global Gelfoam market.
Global Gelfoam Market: Forecast by Application
By application, the global Gelfoam market is segmented into general surgery, minimally invasive surgery, and others. Among these, general surgery accounted for a 44% share of the global Gelfoam market in 2017.
Global Gelfoam Market: Forecast by Product
By product type, the global Gelfoam market sees a classification into two segments, i.e. powder and sponge. Although the market share of sponge is gradually reducing, the segment showed impressive growth in 2017. Close to a 65% share of the global Gelfoam market was secured by sponge in the same year.
Global Gelfoam Market: Forecast by Region
The authors of the report have geographically assessed the global Gelfoam market, taking into consideration key regions and countries, viz. Southeast Asia, China, India, Europe, Japan, and North America. In 2017, North America showed the largest consumption of 42%. Holding a share of 31%, Europe followed the region in terms of market growth.
Global Gelfoam Market: Key Players
The global Gelfoam market includes popular names of the industry such as Ferrosan Medical Devices, Baxter, Pfizer, Gelita, and Johnson & Johnson. These players are strongly placed in the global Gelfoam market. They enjoy business from premier customers and possess key patents and technologies. As per the findings presented in the report, the market competition is not intense.
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