22 Sep 2020
Posted in Medical Devices
TachoSil acquisition gives Corza Health significant foothold in tissue sealants market, says GlobalData
Takeda Pharmaceutical has recently agreed to sell TachoSil Fibrin Sealant Patch to California-based Corza Health for EUR350m (US$413m). The acquisition will provide Corza Health a significant foothold in the growing tissue sealants market, says GlobalData, a leading data and analytics company.
TachoSil divestiture is in line with Takeda’s goal of exiting non-core businesses, lowering debt as well as improving cash flow amid the COVID-19 pandemic.
According to GlobalData Medical Intelligence Database, the global market for tissue sealants was valued at about US$1.8bn in 2019. Growing number of trauma cases, burn cases and surgical procedures are the main factors leading to the growth of the tissue sealants market.
Bhaskar Vittal, Medical Devices Analyst at GlobalData, says: “The market is driven by the growing acceptance of tissue sealants as alternatives to traditional skin closure techniques. Moreover, tissue sealants are associated with higher success rates, ease of operation, shorter recovery times and higher patient satisfaction.”
COVID-19 outbreak has resulted in the reduction of trauma emergencies worldwide, especially in North America and Europe. In addition, the pandemic has a negative impact on the number of elective procedures performed, thereby affecting the tissue sealants market.
Mr Vittal concludes: “With everyone in general, working from home or in isolation at home, there are fewer injury related wounds, in addition to the decrease in the elective surgery procedure. However, the market is expected to recover in the coming quarters with gradual increase in the number of elective surgeries performed as well as easing of social restrictions leading to higher physical activity.”