NEW YORK, March 21, 2017 /PRNewswire/ --
According to the latest market report published by Persistence Market Research titled 'Europe Market Study on Gelatin and Bone Glue: Trauma Segment Projected to Lose 26 BPS over the Forecast Period 2016-2024' the Europe gelatin and bone glue market is expected to expand at a CAGR of 6.0% during the forecast period 2016-2024. Increasing number of trauma cases coupled with orthopedic surgeries and cardiovascular surgeries in developed nations is expected to fuel revenue growth of the Europe gelatin and bone glue market over the forecast period.
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Europe Gelatin and Bone Glue Market: Segmental Forecast
The Europe gelatin and bone glue market is segmented on the basis of product, application, end user, and country. On the basis of product type, the market has been segmented into Gelatin and Bone Glues. By application type, the market has been segmented into Arthroplasty, Sports Injury, Spine Surgery, Trauma, and Others. On the basis of end user, the market has been segmented into Hospitals, Specialty Clinics, and Ambulatory Surgical Centers.
By product type, the Bone Glues segment is expected to register higher Y-o-Y growth throughout the forecast period as compared to the Gelatin segment. The Bone Glues segment is estimated to create absolute $ opportunity of US$ 6.7 Mn in 2017 over 2016 and is projected to reach a market valuation in excess of US$ 180 Mn by 2024 end, registering a CAGR of 6.6% over the forecast period.
By application, the Arthroplasty segment is projected to remain the largest segment in the Europe gelatin and bone glue market, expanding at a CAGR of 6.0% in terms of value over the forecast period. This growth is largely due to increasing cases of arthroplasty procedures and rising prevalence of bone disorders in Europe. The Spine Surgery segment is estimated to reach a market valuation in excess of US$ 40 Mn by the end of 2024, expanding at a CAGR of 6.7% over the forecast period.
By end user, the Hospitals segment is projected to be the largest segment over the forecast period, with an estimated market value share of more than 70% by 2024. The Hospitals segment is also anticipated to be the fastest growing segment in the Europe gelatin and bone glue market during the period of forecast. Revenue from the Hospitals segment is anticipated to increase at a CAGR of 6.4% over 2016-2024, to reach US$ 186.8 Mn by 2024.
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On the basis of country, the Europe gelatin and bone glue market is segmented into eight major countries namely Germany, U.K., France, Italy, Spain, Poland, Russia, and the Rest of Europe. This report assesses key trends driving each market segment and offers analysis and insights into the Europe gelatin and bone glue market in specific countries. Germany is estimated to dominate the Europe gelatin and bone glue market with maximum value share of the overall market by 2024. The Germany, U.K., and France gelatin and bone glue markets are expected to account for over 55% of the Europe gelatin and bone glue market revenue share by the end of the forecast period. In terms of value, France is estimated to be the second largest market, registering a CAGR of 6.3% over the forecast period.
Europe Gelatin and Bone Glue Market: Competitive Landscape
The report profiles some of the top companies operating in the Europe gelatin and bone glue market such as Baxter International Inc., Luna Innovations Incorporated, Integra LifeSciences Corporation, Chemence Medical, Inc., Johnson & Johnson, B. Braun Melsungen AG, CryoLife Inc., Cohera Medical, Inc., C.R. Bard Inc., and Tissuemed Ltd. These product manufacturers in the Europe gelatin and bone glue market are striving to consolidate their market position by means of acquiring small and large firms in the market. Companies are focusing towards innovating their product portfolio by innovating the product packaging; adopting new formulation technologies; and exploring new distribution channels to reach more consumers and thereby augment market share.
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