Film-type APP is expected to have the largest share of the total APP market, followed by gel-based products
SANTA CLARA, Calif., May 21, 2020 /CNW/ -- Frost & Sullivan's recent analysis, Growth Opportunities for Adhesion Prevention Products Market in US and EU5, Forecast to 2024, predicts that the adhesion prevention products (APP) market is experiencing steady growth due to increasing usage in gynecology and other surgical specialties in the United States and EU5 countries (the United Kingdom, Germany, France, Spain, and Italy). By 2024, the combined US and EU5 APP market is estimated to reach $519 million from $374 million in 2019, up at a cumulative annual growth rate (CAGR) of 6.8%.
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"Decrease in the prices of existing products and increase in investments in research and development (R&D) will significantly support higher adoption of APP and its revenue growth in the US and EU5 countries," said Srinath Venkatasubramanian, Transformational Health Industry Analyst at Frost & Sullivan. "Further, companies should focus on innovative products and formulations to address the growing demands of end users."
Venkatasubramanian added: "From the aspect of market share by segment, over the forecast period, film-type APP will have the largest share of the total APP market due to its distinct features such as the ability to stay at the surgery site and not spill into other locations, to be cut into the desired shape, and to offer better clinical efficacy. Additionally, with the increase in the application scope for sprays and liquid, their adoption is likely to witness growth in the medium and long terms."
The high cost of APP, lack of clear reimbursement guidelines, and stringent rules for medical devices are likely to restrain the growth of the APP market. However, the increase in adoption across various applications, need to reduce readmissions arising due to surgical adhesions, and increase in willingness to use adhesion prevention products present an optimistic business environment for market participants. Consider the following growth opportunities:
- The film segment should focus on capturing the existing market for film with its current capabilities and offerings, and look for new geographies to tap into the growth opportunity.
- There are few gel-based products for gynecology applications in the market. New product development in this segment can address unmet needs among surgeons.
- Strong knowledge partnerships built through technical workshops can help companies gain greater brand recognition and communicate the product positioning to their customers.
- Novel formulations and techniques are recommended to tap into the APP market.
Growth Opportunities for Adhesion Prevention Products Market in US and EU5, Forecast to 2024 is the latest addition to Frost & Sullivan's Healthcare research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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SOURCE Frost & Sullivan