Hemostats Market By Type (Thrombin Based Hemostats, Oxidized Regenerated Cellulose Based Hemostats, Combination Hemostats, Gelatin Based Hemostats, Collagen Based Hemostats, Others), By Formulation (Matrix and Gel Hemostats, Sheet and Pad Hemostats, Sponge Hemostats, Powder Hemostats, Others), By Application (Orthopedic Surgery, General Surgery, Neurological Surgery, Cardiovascular Surgery, Reconstructive Surgery, Gynecological Surgery, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global hemostats market was valued at $2,805.93 million in 2021 and is projected to reach $4,712.2 million by 2031 registering a CAGR of 5.3% from 2021 to 2031.
Hemostats are materials or products that when placed on a bleeding site during surgery stop the bleeding by the bloods clotting function. Hemostat are used in many surgical procedures to control bleeding on tissue or organ. They stop both internal and external major or minor bleeding due to injuries, cuts, tearing, ruptures, dental operations, and surgical or spontaneous interventions. Different types of hemostats are available in the market such as thrombin-based hemostats, collagen-based hemostats, gelatin-based hemostats, and cellulose-based hemostats. Hemostats are designed to clamp small blood vessels for hemorrhage control. As a result, they are widely employed in surgical centers, hospitals, and nursing positions. They are available in various sizes, materials, and compositions and used in surgeries and trauma cases.
The major factors that foster the growth of the global hemostats market are surge in number of surgical procedures and availability of medical specialties for the treatment and management of several diseases. In addition, rise in number of cardiac surgeries & orthopedic surgeries and surge in number of injuries and accidents boost the growth of the hemostats market. Moreover, technologically advancements in products having rapid effects are expected to propel the demand for hemostats during the forecast period.
For instance, in February 2021, EndoClot Plus Inc. announced that it received an FDA approval for EndoClot Polysaccharide Hemostatic System. This innovative product helps gastroenterologists to prevent bleeding rapidly. This technology represents a significant milestone in advancing the care of gastrointestinal problems. In addition, in March 2020, the Institute of Nano Science and Technology, under the Department of Science & Technology, developed a starch-based hemostat material. This material helps in stopping the blood flow by concentrating the natural clotting factors in the blood. Thus, the aforementioned factors are anticipated to drive the growth of the hemostat market.
As per the estimates published by the National Center for Biotechnology Information (NCBI), about 60–70% of all transfused red blood cells are utilized in a surgical setting, as bleeding during surgeries is one the most feared complications to occur in these procedures and hemostats reduce that complications of bleeding during surgical procedure. This has led to substantial demand for hemostat product offerings in the global market.
However, clinical limitations with certain products severely hamper the growth of the market. In contrast, increase in number of number of hospitals and surgical centers in both developed and emerging countries is expected to offer lucrative growth opportunities for players in the hemostats market.
The global hemostats market is segmented into type, formulation, application, and region to provide a detailed assessment of the market. By type, the market is segregated into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelation-based hemostats, collagen-based hemostats, and others. On the basis of formulation, it is categorized into matrix & gel hemostats, sheet & pad hemostats, sponge hemostats, powder hemostats, and others. Depending on application, it is fragmented into orthopedic surgery, general surgery, neurological surgery, cardiovascular surgery, reconstructive surgery, gynecological surgery, and other surgeries.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global hemostats market are Baxter International Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Hemostatis LLC, Integra Life Sciences Corporation, Johnson & Johnson, Medtronic Plc, Pfizer Inc., Stryker Corporation, and Teleflex Incorporated.
Key benefits for stakeholders
• The study provides an in-depth analysis of the global hemostats market along with the current trends and future estimations to elucidate the imminent investment pockets.
• A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
• Comprehensive quantitative analysis of the industry from 2021 to 2031 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
• Extensive analysis of the key segments of the industry helps to understand the application and types of hemostats used across the globe.
• Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
Key Market Segments
By Type
Thrombin Based Hemostats
Oxidized Regenerated Cellulose Based Hemostats
Combination Hemostats
Gelatin Based Hemostats
Collagen Based Hemostats
Others
By Formulation
Sheet and Pad Hemostats
Sponge Hemostats
Powder Hemostats
Others
Matrix and Gel Hemostats
By Application
Orthopedic Surgery
General Surgery
Neurological Surgery
Cardiovascular Surgery
Reconstructive Surgery
Gynecological Surgery
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Baxter International Inc.
B.Braun Melsungen AG
Becton Dickinson and Company
Hemostatis LLC
Integra Life Sciences Holding Corporation
Johnson and Johnson
Medtronic Plc
Pfizer Inc.
Stryker Corporation
Teleflex Incorporated
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