According to the latest report by IMARC Group, titled “Hemostats Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global hemostats market size reached US$ 2.4 Billion in 2019. Hemostats are utilized in different surgical procedures to stop bleeding. These agents are employed in the early phases for initial incisions and closing blood vessels until ligation. They help decrease wound healing and operative time, offering better management of anticoagulated patients and reducing the patient recovery period. At present, numerous surgical hemostatic agents are available in the market with varying costs, composition, application, adherence, immunogenicity and mechanism of action.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Hemostats Market Trends:
There is a significant rise in the demand for hemostats on account of the growing prevalence of fatal injuries, chronic disorders, cesarean deliveries and major organ surgeries. Hemostats help prevent blood loss during surgical procedures, especially for nonanatomic and sensitive structures, and among patients with hemostatic abnormalities. Apart from this, the rising geriatric population, along with the increasing number of minimally invasive (MI) surgeries, are strengthening the growth of the market. Furthermore, technological advancements and improving healthcare spending is driving the market growth. However, on account of the sudden outbreak of the coronavirus disease (COVID-19), healthcare providers are currently limiting the number of surgical procedures to prevent the spread of the pandemic, which is negatively impacting the market growth. Looking forward, the market value is projected to reach US$ 3.19 Billion by 2025, expanding at a moderate rate during the forecast period (2020-2025).
- Based on the product, the market has been segmented into thrombin-, combination-, oxidized regenerated cellulose-, gelatin- and collagen-based hemostats.
- On the basis of the application, the market has been segregated into orthopedic, general, neurological, cardiovascular, reconstructive, gynecological and other surgeries.
- The market has been analyzed on the basis of the formulation into matrix and gel, sheet and pad, sponge, and powder hemostats.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Arch Therapeutics, Inc., Baxter International, Inc., B. Braun Melsungen AG, C. R. Bard, Inc., GELITA MEDICAL GmbH, Integra LifeSciences Corporation, Johnson & Johnson, Pfizer Inc., Stryker Corporation, Teleflex Incorporated and Z-Medica LLC.
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