One of the major causes behind the global increase in surgical procedures is the demand for hemostats. The World Health Organization estimates that surgeries cause 421 million hospitalizations yearly, 42.7 million of which result in severe outcomes such as excessive bleeding, infection, and cardiovascular effects. Surgery is performed for a variety of reasons, including injuries, C-sections, and cosmetic reasons. These are certain reasons for the growth of the market.
According to Data Bridge Market Research, the Hemostats Market accounted for USD 1.7 billion in 2021 and is expected to reach USD 2.736 billion by 2029. The market is expected to grow with a CAGR of 6.85% in the forecast period of 2022 to 2029.
"Growing Demand and Adoption of Technologically Advanced Products to Propel the Growth Rate "
The development of new, effective hemostasis-inducing products is being accelerated by technological progress. Additionally, these products reduce the risk of infections and significantly save healthcare expenses. Manufacturers are forced to create goods with better characteristics for bleeding effects during surgical procedures because of the numerous advantages of enhanced hemostats. For instance, Baxter unveiled TISSEL, a technologically cutting-edge solution for the fibrin sealants sector that promotes quicker healing and lowers medical expenses.
What restraints the growth of the Hemostats Market?
"Various Limitations Are Expected to Hamper the Market's Growth"
The lack of trained specialists and skilled professionals will significantly hamper hemostats market expansion. The price of medications will also slow the market's expansion. Inadequate reimbursement policies will also constrain the extent of growth.
Segmentation: Hemostats Market
The hemostats market is segmented on the basis of product type, formulation, application, indication and end-user.
- On the basis of product type, the hemostats market is segmented into thrombin based, combination, oxidized regenerated cellulose based, gelatin based and collagen based hemostat.
- Based on formulation, the hemostats market is segmented into matrix and gel hemostats, sheet and pad hemostats, sponge hemostats and powder hemostats.
- Based on application, the hemostats market is segmented into orthopedic, general surgery, neurological surgery, cardiovascular surgery, reconstructive surgery and gynecological surgery.
- Based on indication, the hemostats market is segmented into wound closure and surgery.
- The hemostats market is also segmented on the basis of end-user into hospitals, clinics, ambulatory centers, community healthcare and others.
Regional Insights: North America is expected to dominate the Hemostats Market
North America is expected to dominate the market due to the growing consolidation of healthcare providers, the widespread usage of clinical device connection, and the stringent regulations set by the many local government and non-government organizations.
In addition, Asia-Pacific is likely to register the highest growth rate during the forecast period of 2022 to 2029 due to increased surgical procedures in the area, as well as the creation of cutting-edge technologies for maintaining blood management during trauma-related procedures.
To know more about the study visit, https://www.databridgemarketresearch.com/de/reports/global-hemostats-market
Recent Developments in Hemostats Market
- In 2021, Rapid-Seal, an antibacterial hemostatic high-performance gel with antibacterial properties that helps with better wound treatment and combats infections, was introduced by Medcura Inc.
- In 2022, The EndoClot Polysaccharide Hemostatic System, produced by EndoClot Inc., received FDA approval for usage. In the event of gastrointestinal procedures, this hemostatic mechanism is reported to effectively and quickly stop bleeding.
The Prominent Key Players Operating in the Hemostats Market Include:
- B. Braun SE (Germany)
- Baxter International, Inc. (U.S.)
- Integra LifeSciences (U.S.)
- Marine Polymer Technologies, Inc. (U.S.)
- Ethicon, Inc. (U.S.)
- Pfizer, Inc. (U.S.)
- Z-Medica LLC (U.S.)
- Gelita Medical GmbH (Germany)
- Anika Therapeutics, Inc. (U.S.)
- Stryker (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of hemostats market companies contact, https://www.databridgemarketresearch.com/de/contact
Research Methodology: Global Hemostats Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
