Why will Fibrin Glue Market Grow Explosively in Asia-Pacific in Future?

The global fibrin glue market would progress at a CAGR of 10.9% between 2017 and 2023, as per the estimates of the market research company, P&S Intelligence. The surging healthcare expenditure, the rising number of surgeries being performed, and the growing incidence of burn accidents in several countries are the main factors driving the progress of the market across the world. Additionally, the soaring incidence of chronic diseases and the increasing geriatric population are fueling the market advancement.

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Because of the surging healthcare expenditure, patients are increasingly opting for surgeries for quick and better treatment of diseases, which is, massively augmenting the sales of fibrin glue. This is subsequently causing the expansion of the fibrin glue market across the globe. The other major factor propelling the sales of fibrin glue is the increasing incidence of various health ailments and chronic diseases. As per the CDC, nearly 117 million Americans were diagnosed with chronic health problems in 2012.

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The mushrooming incidence of such diseases is fueling the requirement for surgeries, which is subsequently causing a sharp surge in the demand for fibrin glue. As per the findings of the World Bank, 30,537 surgeries were performed per 100,000 persons in the U.S. in 2012. Fibrin glue is heavily used in burn cases and surgeries for holding the tissues together. This is the reason why the rising occurrence of surgeries is positively impacting the demand for fibrin glue.

Geographically, the fibrin glue market would exhibit the fastest growth in Asia-Pacific (APAC) in the future. This is ascribed to the surging geriatric population, the growing prevalence of burn accidents, and the soaring per capita income of the people. As per the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the population of the people in the age group- 65 years and above would reach nearly 20% of the total population of the region by 2050.

Hence, it can be said with surety that the market would demonstrate rapid advancement all over the world in the years to come, mainly because of the increasing occurrence of burn cases, the rising incidence of chronic diseases and surgeries, and the soaring geriatric population in several countries.

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