Growth in geriatric population, coupled with the rising incidence of chronic diseases, is resulting in an increased number of surgeries across the world. Along with advancements in healthcare technology, these have become the major growth factors for the adhesion barrier market. Valued at $541.3 million in 2017, the domain is expected to generate revenue of $833.1 million by 2023, progressing at a CAGR of 7.5% during forecast period.
In recent years, due to the increase in health issues across the world, the number of surgeries, such as abdominal and gynecological surgeries, has risen considerably. Gel, film, and liquid-based adhesion barriers are generally used in these surgeries. With the rise in the number of surgeries performed around the world, the demand for these products has also increased, hence driving the adhesion barrier market.
Download sample copy of this report at: https://www.psmarketresearch.com/market-analysis/adhesion-barrier-market/report-sample
According to a report published by the World Health Organization (WHO) in 2016, approximately 266–360 million surgeries were performed in 2012 globally. Due to the increasing incidents of chronic diseases, such as arthritis and cardiovascular diseases, which require surgical intervention as a therapeutic procedure, the demand for adhesion barriers has increased. This is expected to drive the growth of adhesion barrier market in the forecast period.
Key players of the adhesion barrier market, such as Johnson & Johnson, MAST Biosurgery AG, and Anika Therapeutics Inc., have witnessed significant prosperity due to the progress in the domain in recent years. With increased revenue, they are spending more on the research and development of new products to broaden their portfolio. In a recent industry development of 2017, Actamax Surgical Materials LLC received the USFDA approval to put its sprayable and bioabsorbable Actamax adhesion barrier through clinical trials.
Thus, it is clear that the sector will continue to prosper during the forecast period owing to the rise in surgeries, increase in awareness about surgical and post-surgical risks, and advancements in the adhesion barrier technology.
This post was originally published on Raleigh Recorder