Global Gelfoam Market Share to record 4.65% CAGR through 2028

Date: February 20, 2023

Global Gelfoam Market Share to record 4.65% CAGR through 2028

Research analysts assert that global Gelfoam Market compiled a valuation of USD 868.35 million in 2022 and is anticipated to reach USD 1,193.31 million by 2028, expanding at a CAGR of 4.65% during the forecast period.

The current research report on 'Global Gelfoam Market' delivers competitive advantage to stakeholders by describing the industry's growth trajectory for the years 2022–2028 through a careful examination of present and historical performance. Additionally, professionals have computed the projections contained in the document using tried-and-true research techniques. Along with factual data drawn from both primary and secondary sources, it also offers a number of suggestions to assist firms in mapping out successful growth strategies.

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COVID-19 impact:

The COVID-19 outbreak has had a ripple effect on worldwide gelfoam market. The demand for the product declined as a result of the cancellation or postponement of elective surgery. Moreover, the outbreak also interrupted global supply systems, which had an impact on product manufacturing and delivery. Several firms encountered a lack of raw materials and had difficulty exporting their goods around the globe which resulted in price swings and shortages in some places, further reducing the demand for gelfoam. However, COVID-19 also contributed to a rise in the usage of the product in a few instances, primarily to reduce bleeding brought on by the use of anticoagulant drugs. In light of this, the market's reaction to the COVID-19 outbreak was mixed. While the initial reaction was negative due to elective surgery postponement and supply chain difficulties, there has been some demand for gelfoam in the treatment of COVID-19 patients. The pandemic's effect on the economy is probably going to fluctuate as it advances.

Segmentation & Regional Overview:

The marketplace is bifurcated on the basis of type and application. Based on type, the industry is segmented into powder and sponge. With respect to the application landscape, the marketplace is fragmented into general surgery, minimally invasive surgery, and others.

An overview of these divisions presented in the report aids stakeholders in understanding the income potential of global gelfoam market. Parameters such as market share, growth rate, and other relative aspects for each vertical are covered in the study.

Geographically, the key regions expected to have a significant impact on market yield during the assessment period are Asia Pacific, Europe, Latin America, Middle East & Africa, and North America. Using a country-level analysis, the report furnishes information that can be useful in identifying areas likely to enhance revenue during the study timeline.

Competitive Analysis:

Equimedical Private Limited, B. Braun Group, Ferrosan Medical Devices A/S, Baxter International Inc., Pfizer Inc., Gelita AG, and Johnson & Johnson Pvt. Limited are the key competitors in worldwide gelfoam industry.

FAQs:

How are the different segments in global gelfoam market bifurcated by application?

A: General surgery, minimally invasive surgery, and others are applications of gelfoam assessed in the industry report.

How can interested parties benefit from this report?

A: The study, which serves as a valuable information resource, contains important data on the primary growth trends, limitation factors, and expansion opportunities that are anticipated to have an impact on this market’s revenue matrix between 2022 and 2028.

Which are the prominent companies influencing global gelfoam market dynamics?

A: Equimedical Private Limited, B. Braun Group, Ferrosan Medical Devices A/S, Baxter International Inc., Pfizer Inc., Gelita AG, and Johnson & Johnson Pvt. Limited are the key competitors in worldwide gelfoam industry.

Which geographical areas are critical to global gelfoam market revenue?

A: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa are the key regions contributing to market revenue.

What is the size of worldwide gelfoam industry?

A: Global gelfoam market compiled a valuation of USD 868.35 million in 2022 and is anticipated to reach USD 1,193.31 million by 2028, expanding at a CAGR of 4.65% during the forecast period.

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