Emerging Use of Hemostats for Shortening the Surgery is Escalating the Market Growth

The Global Hemostats Market growth is driven by factors like government investment in healthcare for interoperability, rise in the surgical procedures, increase in research & development and awareness. The increase in the investment by the federal government in the healthcare sector leading to the adoption of these solutions further influence the market. Also, a surge in the healthcare expenditure, expanded healthcare infrastructure, expanded care delivery affects the hemostats market not just in the present but also expected in the upcoming years. The growing R & D on the hemostats market is leading to new surgical wings, hospitals, personnel creating new opportunities for the hemostats. Furthermore, Rise in the regular procedures, increase in spinal ailment & sports related injury and focus on blood loss management during surgeries. Hence, these are some of the major factors responsible for the growth of hemostats market.

According to Marketlook Consulting’ research report “Global Hemostats Market Analysis, 2021”, the Global hemostats market is anticipated to grow at a CAGR 6% during 2022-29 The market would reach to 4.14 Bn by 2029.

The basis of product, hemostats market is segmented into topical hemostats products (Collagen, Gelatin, Others), Infusible hemostats products (Fresh Frozen Plasma, Platelet Concentrating, Factor VIII, Prothrombosin Complex, Others) and Advanced hemostats products (Thrombosin Complex, Flowable Complex, Fibrin Complex, Others). The topical segment grabbed a considerable market share in 2020/ Moreover, the market would witness a rise owing to the growing demand of the products such as collagen, gelatin and others.

Based on end user market is segmented into Clinics, Hospitals, and Centers. Hospitals have accounted for the largest growth in the hemostats market, attributes towards its ease of care and advanced healthcare penetration in the rural areas.

Based on application, market is segmented into trauma, Thrombosis, Hemophilia, Myocardial Infarction, Surgery & others.  Surgery segment is expected to be the most major and fast-growing segment due to the sudden surge in the minimally invasive surgeries & clinical procedures on older people.

“Global Hemostats Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for hemostat providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of go to market strategies and identifying the blue ocean for its offerings.  

North America Dominated the Market

Based on Leading regions, North America dominated the global hemostats market in 2021 and is projected to maintain its dominance during the forecasted period 2022-29. The advanced healthcare system in this region coupled with new technology making it ready for adoption are the key factors for the observable trend in the uprising market. The growing elderly, increasing number of procedures, strong presence of market participants in the region contribute to the North America market. Hence, hemostat has become more popular as compared to common wound closure method, including endoscopic methods.  increasing forthcoming period as stated in Marketlook Consulting research report “Global Hemostats Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global Hemostats market - Ethicon, Inc., Abbott Laboratories, Baxter International, Inc., CSL Behring LLC, Dexur, Medtronic plc, Johnson & Johnson, Tricol Biomedical, C. R. Bard, Inc. (BD), Arch Therapeutics Inc., Pfizer, Inc.

Market Segmentation:

1. By Product (Topical Hemostats Products, Advanced Hemostats products, Infusible Hemostats product)
2. By Application (Trauma, Thrombosis, Hemophilia, Myocardial Infarction, Surgery, Others)
3. By End Users (Hospitals, Clinics, Ambulatory Centers)
4. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
5. By Company (Abbott Laboratories, Baxter International, Inc., CSL Behring LLC, Dexur, Medtronic plc, Johnson & Johnson, Tricol Biomedical, C. R. Bard, Inc. (BD), Arch Therapeutics Inc, Pfizer, Inc.)

Key questions answered in the study:

1. What are the current and future trends of the Hemostat industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Hemostat industry?
5. What is the customer orientation, purchase behavior, and expectations from the Hemostat firms across various regions?