by Made up of cross-linked gelatin, these sponges swell upon contact with blood or surgical fluids and exert a gentle pressure on wound surfaces to aid the formation of clots. Gelatin sponges are easy to use and help create a dry surgical field by absorbing fluids quickly. Their absorbable nature means they can be left in the surgical site and will dissolve safely within 4-6 weeks.
The global gelatin sponge market is estimated to be valued at US$ 235.9 million in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the gelatin sponge market are Pfizer Inc., B. Braun SE, GELITA MEDICAL, CuraMedical B.V., Aegis Lifesciences, Angellifescience, EON Meditech, GOODWILL LIFESCIENCES PVT. LTD, Mil Laboratories Pvt. Ltd., EUCARE PHARMACEUTICALS (P) LTD.
The growing number of surgical procedures across the world is boosting the demand for gelatin sponges. Their hemostatic properties make them effective in controlling intra-operative bleeding.
Major players are expanding their gelatin sponge portfolio and presence globally. The market is witnessing increased adoption in developing regions due to rising healthcare budgets.
Market Key Trends
One of the key trends gaining traction in the Gelatin Sponge Market Size is innovation in gelatin sponge formulations. Players are developing advanced formulations that can disintegrate faster at the surgical site. Some new gelatin sponges featuring antimicrobial properties to prevent surgical site infections are also being launched. This helps address an important clinical need and further strengthens the demand for gelatin sponges.
Porter’s Analysis
Threat of new entrants: New competitors will have difficulty gaining customers and market share due to the high costs of manufacturing facilities and established brand loyalty of existing players.
Bargaining power of buyers: Buyers have high bargaining power as gelatin sponges are highly standardized and there are many established suppliers. Buyers can also threaten forward integration by manufacturing in-house.
Bargaining power of suppliers: Suppliers have low bargaining power as raw materials for gelatin sponges such as porcine skin are commoditized and available from many sources globally.
Threat of new substitutes: There is a low threat of substitutes as gelatin sponges have distinct advantages over alternative hemostatic agents and would be difficult to replace.
Competitive rivalry: Competition is high amongst the top players due to their aggressive marketing strategies and expansions into new international markets.
Geographical regions in terms of value, the gelatin sponge market is concentrated in North America and Europe. North America holds the largest market share currently due to the presence of major players and availability of advanced healthcare facilities.
The Asia Pacific region is expected to be the fastest growing market for gelatin sponges during the forecast period. Factors such as rising healthcare expenditure, growing medical tourism industry and increasing demand for surgical procedures are fueling market growth in developing countries of Asia Pacific and Latin America.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn
