However, the increase in complex surgeries and anticipated technology innovations are continuing to drive growth. Ready-to-use products will ensure market expansion.
New analysis from Frost & Sullivan (medicaldevices.frost.com), European Tissue Sealants and Topical Hemostats Market, finds that the markets earned revenues of $338.5 million in 2007 and estimates this to reach $645.6 million in 2014.
"The European tissue sealants and topical hemostats markets are driven primarily by the need for quicker and more effective surgeries," notes the Frost & Sullivan analyst. "Additionally, combination products and ready-to-use patches will invigorate market revenues."
The ability to reduce post-operative times will also boost the sale of ready-to-use patches. In addition, fibrin sealants should expand beyond typical wound care applications to be used as drug delivery mechanisms and in adhesion prevention, thus increasing the scope of the market in the future.
However, the dominance of a few large participants will deter the entry of new competitors with innovative products. Furthermore, the lack of proper product positioning will trigger cannibalisation in the market.
"There are high entry barriers in the European tissue sealants and topical hemostats markets," Frost & Sullivan explains. "Apart from domination by a handful of large companies, regulatory issues and the long gestation period also affect the entry of prospective participants. The complex nature of the market itself poses a challenge for its growth."
Industry participants should concentrate on gaining clarity in product positioning and achieving product differentiation in the minds of end users. Diversification into untapped markets, manufacturing ready-to-use products and entering into strategic alliances will be some of the keys to survival in these markets.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the European tissue sealants and topical hemostats market, then send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, an overview will be sent to you by email.
European Tissue Sealants and Topical Hemostats Market is part of the Medical Devices Growth Partnership Service programme, which also includes research in the following markets: European Urinary Incontinence Devices Market, European Ophthalmic Surgical Devices Market, European Insulin Delivery Devices Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Growth Partnership Company, partners with clients to accelerate their growth. The company's TEAM Research, Growth Consulting and Growth Team Membership™ empower clients to create a growth-focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents.
European Tissue Sealants and Topical Hemostats Market - M2F8