Overview:
Gelatin sponge are generally small, sterile, and surgical sponges that are used in surgical procedures as a haemostatic device. Each gelatin sponge is capable of absorbing and holding blood according to its mesh size. Gelatin sponges are prepared from specially treated and purified gelatin solution. Gelatin sponge products are sterile and are intended for single-use, as reuse can result in the transmission of HIV and hepatitis, which can endanger patients and health care providers. Gelatin sponges are mainly stored at 25 degrees but can extend storage temperature by 15 to 30 degrees.
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Covid-19 Impact:
COVID-19 has spread to over 100 countries around the world since its outbreak in December 2019, prompting the World Health Organization to declare it a public health emergency. According to a study published by the World Health Organization, the coronavirus (COVID-19) has infected over 43.4 million people worldwide as of October 27, 2020.
The coronavirus (COVID-19) pandemic and subsequent lockdown in different countries around the world has adversely affected various companies. The private healthcare sector is one of the places where the COVID-19 pandemic has had a huge effect. The pandemic has had a negative effect on the global gelatin sponge industry, affecting directly the development, production, and supply of medical devices, as well as the growth of pharmaceutical businesses of various companies globally due to lockdowns. The national lockdowns also resulted in the closing of industrial facilities, with the exception of those that manufacture vital goods, as well as a disruption in the supply chain for pharmaceuticals diagnostic and therapeutic kits.
Drivers:
The rising number of plastic surgeries is expected to propel the growth of the gelatin sponge market. According to the American Society of Plastic Surgeons’ 2019 survey, around 1.8 million cosmetic surgical procedures were performed in the United States in 2019, with 16.3 million minimally invasive cosmetic procedures performed in the same year.
Moreover, the increasing prevalence of cancer such as oral cancer is expected to drive demand for gelatin sponge over the forecast period. For instance, according to the World Health Organization 2019, oral cancer is one of the top three most common cancers in Asia Pacific.
Restraints:
Toxic shock syndrome is observed due to gelatin sponge use in nasal surgeries. This is expected to hinder the growth of the gelatin sponge market.
The global gelatin sponge market 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).
Major Players in Gelatin Sponge Market
Pfizer Inc., Gajanan Surgical Industries, B. Braun Medical Inc., GELITA MEDICAL, Ferrosan Medical Devices A/S, Equimedical B.V., Insta-Cure Pvt. Ltd., CuraMedical B.V., Shri Gopal Krishna Labs Pvt. Ltd., Aegis Lifesciences Pvt. Ltd., Angel Lifesciences Pvt. Ltd., EON Meditech Pvt. Ltd., Goodwill Lifesciences, Mil Laboratories Pvt. Ltd, and Eucare Pharmaceuticals (P) Ltd.
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