Industry Developments: AMS Ventures with TELA Bio, Baxter Unveils New Products, Connexicon Acquisition Boosts AMS Portfolio

Vantage Market Research

Jun 21, 2024

According to analysts at Vantage Market Research, the market for Surgical Glue is projected to reach USD 6.74 Billion by 2032, with a compound annual growth rate of 11.5%.

Advanced Medical Solutions Expands U.S. Presence with LiquiBandFix8® Agreement

Advanced Medical Solutions (AMS) has solidified its footprint in the United States through a strategic agreement with TELA Bio Inc. In September 2023, to introduce LiquiBandFix8® to the U.S. market under the brand name LIQUIFIX™, headquartered in Malvern, Pennsylvania, TELA Bio specializes in innovative soft-tissue reconstruction solutions for hernia repair, abdominal wall reconstruction, and plastic reconstructive surgery. With an established presence and robust salesforce projected to reach 75-80 representatives by the end of 2023, TELA Bio generated revenues of $41.4 million in 2022 and anticipates further growth with full-year 2023 guidance of $60-65 million. LiquiBandFix8®/LIQUIFIX™ received Pre-Market Approval (PMA) from the U.S. Food and Drug Administration (FDA) in June 2023 for hernia repair surgery, marking a milestone in less invasive application techniques expected to reduce post-operative complications.

Baxter Unveils Surgical Innovations at Global Conference

Baxter International Inc., a frontrunner in surgical innovation, showcased its latest offerings at the Association of periOperative Registered Nurses (AORN) Global Surgical Conference & Expo in April 2023. Among the highlights were the Baxter Patient Warming system, the Helux Pro Connected Surgical Light, and the Floseal + Recothrom flowable hemostat. The Baxter Patient Warming system, designed for normothermia maintenance, integrates conductive warming technology into the table pad, eliminating disposables and reducing risks associated with forced air systems. This system, compatible with various surgical tables, aims to enhance patient comfort and optimize operating room workflow efficiency.

AMS Enhances Cyanoacrylate Technology with Connexicon Acquisition

In a strategic move, Advanced Medical Solutions Group plc (AMS) announced the acquisition of Connexicon Medical Limited, a Dublin-based tissue adhesive technology specialist in February 2023. This acquisition strengthens AMS's position in the global tissue adhesive market, particularly in cyanoacrylate technology. With an initial payment of €7 million and additional contingent payments tied to specific milestones, the acquisition underscores AMS's commitment to innovation and expanding its product portfolio. Connexicon, known for its brand Indermil® FlexifuzeTM, brings a wealth of expertise and a promising pipeline of new products targeting U.S. approval by early 2024. This strategic alignment bolsters AMS's technical capabilities and furthers its mission to advance tissue-healing technologies globally.

Surgical Glue Market Size, Share & Trends Analysis Report by Product (Natural Adhesives & Sealants, Synthetic and Semi Synthetic Adhesives & Sealants) by Application (Central Nervous System, General Surgery, Cardiovascular, Orthopedic, Ophthalmic, Cosmetic, Pulmonary, Urological, Other Applications) by Indication (Tissue Sealing, Tissue Engineering, Hemostasis) by End User (Hospitals, Ambulatory Surgical Centers, Other End Users) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Assessment (2018 - 2023) & Forecast (2024 - 2032)