Global Gelatin Sponge Market, by Origin (Porcine and Bovine), by Distribution Channel (Public and Private), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 208.4 million in 2021, and is expected to exhibit a CAGR of 6.4% during the forecast period (2021-2028).
Rising number of surgical procedures is expected to drive growth of the global gelatin sponge market during the forecast period. For instance, according to the Organization for Economic Co-operation and Development Statistics: 2018, the number of caesarean section procedures carried out in the U.K. in the year 2016 and 2017, which was 204,057 and 206,620 respectively.
Market players are engaged in inorganic activities such as acquisitions of shares from other companies, which is expected to drive growth of the gelatin sponge market. For instance, on December 2, 2020, Gelita Medical, acquired 65% shares from SelJel, a gelatin manufacturer based in Turkey. This acquisition is expected to support production of large quantities of gelatin sponge for applications such as C-Section surgeries, brain surgery, and others.
Innovation in the use of gelatin sponge for various application is expected to aid growth of the market over the forecast period. For instance, according to the journal MDPI Polymer: October 26, 2020, the researchers at the Department of Physiology, UKM Medical Centre, Malaysia are conducting research for the construction of fabricated porous buffalo gelatin sponge, by using a different cross-linking strategy, which can be used as an acellular skin substitute. During the research, the fabricated gelatin sponge demonstrated a dynamic potential to be tailored, according to wound types.
Global Gelatin Sponge Market - Impact of Coronavirus (COVID – 19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019 in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 146 million cases and 3.1 million deaths due to Coronavirus (COVID-19) were reported up till April 25, 2021 across the globe.
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.
Impact on Distribution Channel:
Browse 27 Market Data Tables and 18 Figures spread through 189 Pages and in-depth TOC on Global Gelatin Sponge Market, by Origin (Porcine and Bovine), by Distribution Channel (Public and Private), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa).
To know the latest trends and insights prevalent in the Androgen replacement therapy market, click the link below:
Moreover, launch of new medical grade gelatin for production of absorbable gelatin sponges is expected to drive the gelatin sponge market growth. For instance, in 2018, Rousselot Inc., a manufacturer of gelatin and collagen peptides, launched a new medical grade gelatin, X-Pure, which can be used for various applications, such as in the manufacture of hemostatic medical devices, and regenerative medicines. In case of hemostatic medical devices, Rousselot Inc. launched X-Pure 10 P grade, a porcine skin-based gelatin product for the production of absorbable gelatin sponges. The gelatin is much safer than the existing ones due to presence of lower amounts of endotoxins in them.
Key Takeaways of the Gelatin Sponge Market:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.