Global Gelatin Sponge Market, by Application (Plastic Surgery, Neurosurgery, General Surgery, Dental Surgery, ENT Surgery, Anorectal Surgery, Abdominal Surgery, and Others) by End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
Key companies focusing on research and development in field of gelatin sponge is expected to drive growth of the global gelatin sponge market over the forecast period. For instance, in 2016, Mallinckrodt Pharmaceuticals, a manufacturer of specialty pharmaceuticals, generic drugs, and imaging agents completed the phase 3 trial of interventional study of Fibrocaps plus gelatin sponge used to achieve homeostasis during surgical procedures such as during spine, liver, vascular or soft tissue surgery.
Moreover, research institutes are focusing on effectiveness of gelatin sponge during the surgical procedures by comparing gelatin sponges with traditional homeostasis methods. For instance, in 2019, Deep Life Medical Ltd, stated that they have completed the phase 2 clinical trial of interventional study on comparing the effectiveness of gelatin sponge with anugel for pain management after hemoroidectomy.
Global Gelatin Sponge Market – Impact of Coronavirus (COVID-19)
Browse 33 Market Data Tables and 32 Figures spread through 175 Pages and in-depth TOC on “Global Sponge Market, by Application (Plastic Surgery, Neurosurgery, General Surgery, Dental Surgery, ENT Surgery, Anorectal Surgery, Abdominal Surgery, and Others) by End User (Hospitals, Clinics and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).”
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The market is expected to witness significant growth during the forecast period as academic and research institutes are focusing on research and development of gelatin sponge, which is expected to drive demand for gelatin sponge in the market. For instance, in November 2019, physicians at the G. d'Annunzio University, stated that they have completed the clinical trials on usage of gelatin sponge for larger and moderate palatal wounds and also stated that gelatin sponges exhibited efficiency on palatal wounds.
Key Takeaways of the Global Gelatin Sponge Market: