Hemostats Market Will Reach USD 4120.4 Million By 2028 With A CAGR of 5.9% - Valuates Reports

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Sep 23, 2022, 10:00 ET

BANGALORE, India, Sept. 23, 2022 /PRNewswire/ -- The Hemostats market is segmented by Type - Thrombin-Based Hemostats, Oxidized Regenerated Cellulose Based Hemostats, Combination Hemostats, Gelatin Based Hemostats, Collagen Based Hemostats, by Application - Prehospital Treatment, Hospital Treatment. Global Opportunity Analysis and Industry Forecast, 2021 - 2028. It is published in Valuates Reports under the Medical Devices & Equipment Category.

The global Hemostats market size is estimated to be worth USD 2921.3 million in 2022 and is forecast to be a readjusted size of USD 4120.4 million by 2028 with a CAGR of 5.9% during the review period.

Major Factors Driving The Growth Of The Hemostats Market are

The rising emphasis on blood loss management during surgeries, the growing number of chronic illnesses, the efficacy of thrombin-based hemostats, and technical advancements will fuel the growth of the market.

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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL HEMOSTATS MARKET

Hemorrhage is the main cause of military and civilian deaths. In emergency situations, uncontrolled hemorrhage causes over 30% of traumatic deaths, and excessive bleeding is the main reason for military casualties. Hemostatic agents prove to be effective in hospitals and can save lives in high-stress conditions. This will fuel the growth of the hemostats market. The agents prevent deaths related to hypothermia, infections, multiple organ failure, and acidosis. It is an important step in trauma treatment.

The rising prevalence of cardiovascular ailments and chronic diseases such as cancer is leading to growing surgical procedures. Healthcare infrastructure is expanding around the world to meet the rising demand for surgical processes. The hemostats market is driven by the extensive use of the products in preventing complicated bleeding during surgeries to keep the patient out of harm's way.

As per studies and research analysis, thrombin-based hemostatic agents applied before wound closure reduced postoperative blood loss and transfusion rate. There are no risks of infection, deep vein thrombosis, or occurrence of other complications. It is the primary agent used during knee arthroplasty surgeries. The agent can be stored at room temperature easily. Such beneficial properties will bolster the demand for the global hemostats market. The efficiency of a thrombin hemostat can be improved further by the use of a porcine gelatin sponge which facilitates direct pressure application.

Invasive medical procedures and surgeries are prone to excessive blood loss and organ failures. The need for effective blood control management is leading to the use of polysaccharide hemostatic systems, in turn, driving the growth of the global hemostats market. The blood loss is stopped by using non- anatomical and sensitive structures. Patients who have hemostatic abnormalities, high bone density, and arthritic disorders benefit the most from the use of these systems.

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HEMOSTATS MARKET SHARE ANALYSIS

Based on product type, the thrombin-based hemostats will witness significant growth with a market share of 40%.

Based on application, hospital treatment will dominate the hemostats market share due to the rising number of surgical procedures being performed and growing cases of chronic disorders.

Based on region, North America will grow the highest with a market share of 35%. This is due to the increasing number of surgeries, the strong presence of key players, and the rising geriatric population. On the other hand, Europe and China are the second largest with a total share of 35%.

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Market By Region

North America
Europe
Asia-Pacific
Latin America
Middle East & Africa

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Key players

Ethicon
Pfizer
Baxter International Inc.
C. R. Bard
The Medicines Company
Anika Therapeutics
Advanced Medical Solutions
Integra LifeSciences Corporation
B Braun Melsungen AG
Gelita Medical GmbH
Equimedical
Vascular Solutions
Marine Polymer Technologies
Z-Medica, LLC
CryoLife
BioCer Entwicklungs-GmbH.

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