According to Coherent Market Insights, the global gelatin sponge market is estimated to be valued at US$ 195.9 million in 2020 and is expected to exhibit a CAGR of 4.20 % during the forecast period (2020-2027).
Key Trends and Analysis of the Global Gelatin Sponge Market:
Rising incidence of neurological disorders such as Alzheimer disease, Parkinson diseases are leading to rising number of neurological surgeries, which is expected to drive the gelatin sponge market growth during the forecast period. According to the Organization (WHO) factsheet of May 2020, around 50 million people have Alzheimer's disease, globally and there are around 10 million new cases every year, worldwide.
Moreover, key players are focusing on product approvals and launches, in order to strengthen their position in the global gelatin sponge market. For instance, in 2019, Ferrosan Medical Devices A/S, a provider of range of innovative products used by health care professionals in the fields of surgery, launched SURGIFOAM, an absorbent gelatin sponge that can be used in various surgical procedures such as general surgeries, dental surgeries, and plastic surgeries as an homeostatic device.
Among regions, North America is expected to hold dominant position in the global gelatin sponge market over the forecast period, owing to rising tonsillectomy surgeries in the region, therefore rising the ENT surgical procedures in the region. For instance, according to the US National Library of Medicine May 2020, in 2019, tonsillectomy was one of the most commonly performed surgical procedures and over 500,000 cases are performed annually in children less than 15 years of age.
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Key Market Takeaways:
The global gelatin sponge market is expected to exhibit a CAGR of 4.20 % during the forecast period, owing to rising incidence of neurological diseases such as Alzheimer’s disease, Parkinson disease, and epilepsy, coupled with rising prevalence of tonsillectomy surgeries.
Key Players covered in this report:
Key players operating in the global gelatin sponge market include Baxter International Inc, Gelita AG, Johnson & Johnson, Pfizer Inc, B. Braun, Ferrosan Medical Devices A/S, Eucare Pharmaceuticals Private Limited, CURA Healthcare Pvt. Ltd, Angel Life Science, Genco Tibbi Cihazlar Limited, Aegis Lifescience, and Saintroy Lifescience.
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Global Gelatin Sponge Market, By Application:
Global Gelatin Sponge Market, By End User:
Ambulatory Surgical Centers
Global Gelatin Sponge Market, By Region:
Rest of Latin America
Rest of Europe
Rest of Asia Pacific
Rest of Middle East
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