Hemostasis Products Market Analysis And Forecast To 2032: By Product, (Topical Hemostasis Product, Infusible Hemostasis Products, Advanced Hemostasis Products), By Application (Trauma, Surgery, Hemophilia, Myocardial Infarction, Thrombosis, Others), By En

Hemostasis Products Market Analysis And Forecast To 2032: By Product, (Topical Hemostasis Product, Infusible Hemostasis Products, Advanced Hemostasis Products), By Application (Trauma, Surgery, Hemophilia, Myocardial Infarction, Thrombosis, Others), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), And Region

The global Hemostasis Products Market was valued at USD 1.5 Billion in 2022 and it is anticipated to grow up to USD 2.7 Billion by 2032, at a CAGR of 6.1% during the forecast period.

Hemostat is referred to a surgical agent that regulates and controls the bleeding process during surgical procedures. Hemostats help to shorten surgery time and reduces the need for blood transfusion. Hemostatic agents are essential in establishing hemostasis in pre-hospital conditions and preventing death associated with hemorrhage. Hemostats are used to compress blood vessels and prevent the flow of blood or other fluids. They are generally used in adjunct to surgical procedures to manage bleeding. Hemostatic agents offer different benefits, which include decreased wound healing & operative time, better management of anti-coagulated patients, and reduction in the patient recovery period boosting the hemostasis market.

Global Hemostasis Products Market Scope and Report Structure

Market Trends and Drivers

Rise in flowable hemostats usage boosts the flowable hemostats market. According to the International Osteoporosis Foundation, in 2019, approximately 200 million people were affected by osteoporosis-related fractures across the globe. Thus, rise in burden of orthopedic disorders increases the demand for hemostats to reduce surgical injuries, which is anticipated to foster the growth of the hemostats market size. Furthermore, rise in geriatric population notably contributes toward the growth of the market. This is attributed to the fact that aged individuals are highly susceptible to various types of diseases, which increases the need for surgeries, thus boosting the hemostats market share. Furthermore, increase in number of road accidents has led to surge in surgical procedures, which augmented the growth of the hemostats market. According to the World Health Organization, in 2019, approximately 235 million major surgical procedures were performed across the globe. According to the National Cancer Statistics, in 2020, there were 1,806,590 new cases of cancer in the U.S. Therefore, surge in number of surgeries is anticipated to boost the growth of the market. According to the American Society of Plastic Surgeons, 15.6 million cosmetic surgeries were performed in 2020. Furthermore, increase in number of product approvals is expected to provide lucrative hemostats market opportunity for the expansion during the hemostats market forecast period. Thus, rise in hemostats utilization in surgeries is bound to increase hemostasis market potential.

Market Restraints and Challenges

New innovations by key players and rise in number of product approvals propel the growth of the market. However, stringent government regulations associated with the approval of hemostats restrict the hemostats industry growth.

Global Hemostasis Products Market Segmental Overview

The report analyses the global Hemostasis Products Market based on product application, end-use, and region.

Global Hemostasis Products Market by Product

Based on Product, the market is bifurcated into Topical Hemostasis Product, Infusible Hemostasis Product, and Advanced Hemostasis Product. Infusible hemostasis products segment surpassed USD xx million in 2021. This is attributable to the growing number of patients suffering from cardiac diseases such as myocardial infarction, coronary heart disease, aortic disease etc. Cardiovascular disease is responsible for majority of deaths in countries such as India. It accounts for more than 25% of total deaths occurring in the country. Thereby, stimulating the product demand.

Global Hemostasis Products Market by Application

Based on the application, the market is bifurcated into Trauma, Surgery, Hemophilia, Myocardial Infarction, Thrombosis, and Others. Hemostat agents, such as products containing thrombin, are a safe and effective alternative to gelatin sponges and oxidized cellulose in controlling bleeding during surgeries. Hemostatic agents containing thrombin and collagen are superior to surgical hemostasis alone in controlling microvascular bleeding during cardiac surgery. It is also reasonable to use fibrin sealants as an adjunct to surgical hemostasis to limit bleeding in cardiac and aortic surgery.

As per the research study published in June 2021, titled "German Heart Surgery Report 2020: The Annual Updated Registry of the German Society for Thoracic and Cardiovascular Surgery", a total of 92,809 operations were classified as heart surgery procedures in the classical sense, of which 29,444 were isolated coronary artery bypass grafting procedures, 35,469 were isolated heart valve procedures, and the number of isolated heart transplantations increased by 2% to 340. Additionally, according to the British Heart Foundation’s February 2021 report, about 371,000 heart procedures and operations were performed in England in 2020. Hence, the high number of heart surgeries and operations being performed every year may boost demand for hemostat agents that control bleeding

Global Hemostasis Products Market by End-user

Based on the end-use, the market is bifurcated into Hospitals, Clinics, and Others. The increase in hospital visits and growing expenditures on hospital care can be attributed to the growth of the hospital segment. Hospital spending climbed 6.4% amounting to USD 1,270.1 billion in 2020, the National Health expenditure data sheet states. This was an increase from the 6.3% growth in 2019. Additionally, there were almost 130 million hospital visits in the United States. Few of the well-known market leaders in the global hemostasis products market that are profiled by Research Nester are Pfizer Inc., Integra LifeSciences Corporation, Baxter, Medtronic, Stryker, BD (Becton, Dickinson and Company), Biom’up Innovative Surgery, Johnson & Johnson Services, Inc., CryoLife, Inc., Hemostatis LLC, and others.

Geographical Analysis of Global Hemostasis Products Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. Among regional markets, the market growth in Asia Pacific is elevated by rising instances of road accidents followed by rise in blood donations in the region. According to the Ministry of Road Transport & Highways under Government of India, in 2022, the country witnessed 3,66,138 road accidents, leading to 1,31,714 losses of lives and 3,48,279 people injured. 18-45 years’ age group is the prime group caught up in road accidents, which accounts for nearly 70% of total accidental deaths. Furthermore, in Japan, 400 mL blood donations are expected to result in an estimated 1.3 million liters of blood being donated in 2020. Additionally, from 1998 to 2020, blood donation increases by 40 folds in China and in 2020, there were approximately 16 million blood donation in the country.

Major Players in the Global Hemostasis Products Market

The global hemostasis products market is moderately fragmented and consists of a number of major players. Companies like Abbott Laboratories, Baxter International, Inc., C. R. Bard, Inc. (BD), CSL Behring LLC, Dexur, Grifols, S.A., Johnson & Johnson, Medtronic plc, Pfizer, Inc., and Tricol Biomedical, among others, hold the substantial market share in the Hemostasis Products market.

COVID-19 Impact:

The COVID-19 outbreak is anticipated to have a positive impact on the growth of the global hemostats industry. According to the National Library of Medicine, in 2020, there were 1,307 cases of bariatric surgeries reported in India. Out of which 78% were performed before March 31, 2020 and 276 were performed after April 1, 2020. There were 87 patients found to be positive who underwent bariatric surgery. Thus, rise in number of bariatric surgeries has increased the usage of hemostats during surgical procedures, which drives the hemostats market growth.

Recent Developments:

In May 2022, Precision BioLogic Inc., a developer of hemostasis diagnostic products, reported the launch of its new cryocheck Chromogenic Factor IX assay in Canada, the European Union, and the United Kingdom, Australia, and New Zealand.

In February 2022, Futura Surgicare Pvt Ltd expanded its product portfolio by launching hemostatic products under the brand Hemostax (Oxidised Regenerated Cellulose) under a new vertical, Dolphin Hemostats. Hemostax Standard is an absorbable hemostat designed to help surgeons control bleeding more efficiently.

Frequently Asked Questions

Q1. How big is the Hemostasis Products Market?

Ans. The global Hemostasis Products Market was valued at USD 1.5 Billion in 2022 and it is anticipated to grow up to USD 2.7 Billion by 2032, at a CAGR of 6.1% during the forecast period.

Q2. What is the Hemostasis Products Market growth rate?

Ans. The growth rate of the Hemostasis Products market is 6.1%

Q3. Which region holds a major market share for the market?

Ans. North America holds a major market share of the Hemostasis Products Market in 2022.

Q4. Which segment accounted for the largest Hemostasis Products Market share?

Ans. By application, the surgery segment accounted for the largest Hemostasis Products Market share.

Q5. Who are the key players in the kidney stones management market?

Ans. The global Hemostasis Products Market report includes players are Abbott Laboratories, Baxter International, Inc., C. R. Bard, Inc. (BD), CSL Behring LLC, Dexur, Grifols, S.A., Johnson & Johnson, Medtronic plc, Pfizer, Inc., and Tricol Biomedical, among others.

Q6. What are the factors driving the Hemostasis Products Market growth?

Ans. Factors driving market growth include an increase in the number of trauma and surgical cases, technological advancements in the fields of hemostasis products, and an increase in the prevalence of blood disorders.

Q7. What are the key growth strategies of Hemostasis Products Market players?

Ans. The key growth strategies of Hemostasis Products Market players are product launch and product approval.

Q8. Which region will provide more business opportunities for the Hemostasis Products Market during the forecast period?

Ans. The Asia-Pacific region will provide more business opportunities for the Hemostasis Products Market during the forecast period.

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