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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)

  • The COVID-19 pandemic has affected several markets across the globe and is also expected to hamper the demand and supply in global gelatin sponge market. The COVID-19 pandemic has affected the demand and supply of gelatin sponge market in three main ways; by directly affecting the production and demand; by creating disruptions in distribution channels; and by its financial impact on firms and financial markets. Supply chain and manufacturing activities of gelatin sponge in India, China, and the U.S. are disrupted due to nationwide lockdowns. Whereas, countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drugs from one place to another.
  • Moreover, in May 2020, Fortcaps Healthcare, a company amongst the top five manufacturers of hard gelatin in India, stated that production of gelatin capsules and raw gelatin has been drastically reduced by 10-12 billion of pieces a month. Additionally, the supply of gelatin as raw material has been decreased by 40% due to COVID-19 pandemic and imposed restriction on nationwide transport, indicating that COVID-19 has impacted global gelatin sponge market negatively.

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).”

To know the latest trends and insights prevalent in the global Gelatin Sponge market, click the link below:

https://www.coherentmarketinsights.com/market-insight/gelatin-sponge-market-4260

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:

  • The global gelatin sponge market is expected to exhibit a CAGR of 4.20 % during the forecast period, as key companies and research institutes are focusing on research and development of gelatin sponge.
  • Among applications, neurosurgery segment is estimated to account for major market share in 2020, owing to increasing prevalence of neurological disorders in pediatric and adult population. According to World Health Organization report published in 2019, stated that globally approximately 50 million of individuals are suffering from epilepsy, therefore increasing the number of neurosurgeries globally.
  • 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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