Hemostats Market

Global Hemostats Market:

The global hemostats market size reached US$ 3.5 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 5.8 Billion by 2032, exhibiting a growth rate (CAGR) of 5.73% during 2024-2032. The rising surgical procedures, technological advancements, expansion of healthcare infrastructure, increasing awareness among healthcare professionals, and a growing aging population are some of the major factors propelling the market growth.

Hemostats Market Analysis:

• Major Market Drivers: The rising incidence of surgical procedures, including complex surgeries, minimally invasive procedures, and trauma cases, is primarily driving the growth of the market. In addition to this, the increasing geriatric population, who are more prone to developing chronic diseases necessitating surgical interventions, is also contributing to the market growth.
• Key Market Trends: Ongoing advancements in medical technology are resulting in the development of innovative hemostatic products with improved efficacy and safety profiles, which is creating a positive outlook for the overall market.
• Geographical Landscape: According to the report, North America accounted for the largest market share. The growth of the region can be attributed to the rising aging population in North America, leading to a higher prevalence of chronic diseases. Moreover, the presence of top pharma and biotech companies that are involved in the development of therapeutics and the presence of well-established healthcare infrastructure is fueling the growth of the overall region.
• Competitive Landscape: Some of the leading hemostats market companies are Arch Therapeutics Inc., Baxter International Inc., B. Braun Melsungen Aktiengesell, C. R. Bard Inc., GELITA MEDICAL GmbH, Integra LifeSciences Corporation, Johnson & Johnson, Pfizer Inc., Stryker Corporation, Teleflex Incorporated, and Z-Medica LLC.
• Challenges and Opportunities: Challenges in the hemostats market include regulatory hurdles and competitive pricing pressures. However, hemostats market recent opportunities lie in expanding into emerging markets and innovating new hemostatic technologies to meet evolving clinical needs.
   

Hemostats Market Trends:

Increasing Surgical Procedures

The growing number of surgical procedures across the world is significantly driving the growth of the hemostats market. For instance, according to the study titled "Trauma of major surgery: A global problem that is not going away," published in the International Journal of Surgery in September 2020, each year, 310 million major surgeries are performed worldwide, with 40 to 50 million in the United States and 20 million in Europe. According to estimates, 15% experience serious postoperative morbidity, and 5-15% are readmitted within 30 days. In addition to this, the rising geriatric population, who are more susceptible to age-related diseases leading to surgeries, is also contributing to the growth of the market. For instance, a study published in the National Library of Medicine, United States, estimated that approximately 53% of all surgical procedures are performed on patients over the age of 65. Projections estimate that approximately half of the population over the age of 65 will require surgery once in their lives. Consequently, an increasing number of surgeries performed across the globe is anticipated to boost the hemostats market demand, as these products play a vital role in wound healing. 

Ongoing Technological Advancements

Advances in medical technology have played a pivotal role in the growth of the hemostats market. These innovations are resulting in the development of more effective and safer hemostatic products. For example, newer hemostats often incorporate biocompatible and bioabsorbable materials, reducing the risk of adverse reactions. Moreover, various key market players are increasingly investing in research and development activities to introduce new hemostats with improved functionality, which is anticipated to propel the hemostats market revenue. For instance, in November 2023, Ethicon, a Johnson & Johnson MedTech company, announced the approval of ETHIZIA, an adjunctive hemostat solution that has been clinically proven to achieve sustained hemostasis in difficult-to-control bleeding situations. It is comprised of unique synthetic polymer technology, ETHIZIA™ Hemostatic Sealing Patch, which is the first and only hemostatic matrix designed to be equally active and efficacious on both sides. Designed for maximum adaptability, it can be stuffed, rolled, pulled apart, trimmed, and tailored, making it easy to handle in both open and minimally invasive surgeries.

Increasing Prevalence of Chronic Blood Disorders

The rising cases of chronic blood disorders are also propelling the hemostats market’s recent prices. For instance, as per the Annual Global Survey 2020 by the World Hemophilia Federation, a total number of 347,026 people were affected by bleeding disorders in 2020. Additionally, as per the 2022 update by the International Society on Thrombosis and Haemostasis, every year, there are approximately 10 million cases of venous thromboembolism worldwide. As per the same source, in Europe, there are 544,000 Deep Vein Thrombosis (VTE) related deaths every year. Moreover, a report by the American Society of Hematology states that nearly 900,000 people are affected by blood clots each year, leading to approximately 100,000 blood clot-related deaths annually. Thus, such an increase in the number of patients suffering from blood disorders is likely to impel the hemostats market share in the coming years.

Global Hemostats Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global hemostats market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product, application, and formulation.

Breakup by Product:

• Thrombin Based
• Combination Based
• Oxidized Regenerated Cellulose Based
• Gelatin Based
• Collagen Based
   

Thrombin based dominates the market

The report has provided a detailed breakup and analysis of the market based on the product. This includes thrombin based, combination based, oxidized regenerated cellulose based, gelatin based, and collagen based. According to the hemostats market report, thrombin based represented the largest segment.

The demand for thrombin-based hemostats is being propelled by their rapid action and versatility in managing bleeding in various medical scenarios. Thrombin is a naturally occurring enzyme that plays a crucial role in the blood clotting process. Thrombin-based hemostats offer a targeted and rapid solution for achieving hemostasis, making them particularly valuable in situations where time is critical, such as emergency surgeries and trauma cases. As a result, its use has grown exponentially, and now thrombin is used in more than 1 million patients in the United States each year at a cost of US$ 250 Million. Recently, there have been new developments in thrombin, namely FDA approval in human thrombin and development of a recombinant thrombin.

Breakup by Application:

• Orthopedic Surgery
• General Surgery
• Neurological Surgery
• Cardiovascular Surgery
• Reconstructive Surgery
• Gynecological Surgery
• Others
   

General surgery holds the largest share in the market

A detailed breakup and analysis of the market based on the application has also been provided in the report. This includes orthopedic, general, neurological, cardiovascular, reconstructive, gynecological, and other surgeries. According to the report, general surgery accounted for the largest market share.

The increasing complexity and diversity of surgical procedures represents one of the main factors impelling the need for hemostats in general surgery applications. General surgery encompasses a wide range of operations, from abdominal surgeries to vascular procedures, each posing unique challenges in achieving effective hemostasis. Surgeons are increasingly relying on hemostatic agents and instruments to minimize bleeding, reduce operating time, and enhance patient outcomes. Moreover, hemostats market overview by IMARC, indicates that the rising number of road accidents is also leading to an increase in surgical procedures across the globe. For example, according to the Planning and Statistics Authority Qatar, the total number of major traffic accident cases rose from 717 in January 2022 to 788 in January 2023. Additionally, the rising prevalence of chronic disorders like diabetes and cancer is also contributing to the market growth. For instance, about one-third of people with diabetes develop a foot ulcer during their lifetime. Diabetic foot ulcers affect about 18.6 million people worldwide and 1.6 million in the U.S. annually.

Breakup by Formulation:

• Matrix and Gel Hemostats
• Sheet and Pad Hemostats
• Sponge Hemostats
• Powder Hemostats
   

Matrix and gel hemostats dominate the market

The report has provided a detailed breakup and analysis of the market based on the formulation. This includes matrix and gel, sheet and pad, sponge, and powder hemostats. According to the report, matrix and gel hemostats represented the largest segment.

The demand for matrix and gel hemostats is driven by their unique characteristics, such as ease of application and versatility in various medical settings. These hemostatic products offer a user-friendly approach to achieving hemostasis, especially in situations where precise control is essential, such as neurosurgery and ophthalmic procedures. Matrix and gel hemostats conform to irregular wound shapes and adhere well to tissues, ensuring effective sealing of bleeding sites. Apart from this, they often have a resorbable nature, reducing the risk of adverse reactions and minimizing the need for postoperative removal, making them increasingly favored by surgeons and healthcare professionals in diverse clinical applications.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America exhibits a clear dominance, accounting for the largest hemostats market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The growth of the region can be attributed to the rising aging population in North America, leading to a higher prevalence of chronic diseases. According to research conducted by the American Heart Association in October 2021, approximately 2,300 Americans die each day from cardiovascular diseases, with one death occurring every 38 seconds. Moreover, the presence of top pharma and biotech companies that are involved in the development of therapeutics and the presence of well-established healthcare infrastructure is positively impacting the hemostats market outlook. For instance, in July 2021, Medcura, Inc., a commercial-stage medical device company, in partnership with ASO, LLC, a major United States manufacturer and supplier of first aid products, reported the launch of a high-performance, antibacterial hemostatic gel, Rapid-Seal, at a leading United States drugstore chain.

Competitive Landscape:

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• Arch Therapeutics Inc.
• Baxter International Inc.
• B. Braun Melsungen Aktiengesell
• C. R. Bard Inc.
• GELITA MEDICAL GmbH
• Integra LifeSciences Corporation
• Johnson & Johnson
• Pfizer Inc.
• Stryker Corporation
• Teleflex Incorporated
• Z-Medica LLC
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Hemostats Market Recent Developments:

• November 2023: Ethicon, a Johnson & Johnson MedTech company, announced the approval of ETHIZIA, an adjunctive hemostat solution which is clinically proven to achieve sustained hemostasis in difficult-to-control bleeding situations.
• July 2023: Baxter International Inc., a global leader in advancing surgical innovation, announced the launch of PERCLOT Absorbable Hemostatic Powder. It is a passive, absorbable hemostatic powder that is ready to use and designed for patients with intact coagulation to address mild bleeding.
• May 2023: Olympus Europa SE & Co. KG launched three Endoclot products, two hemostatic agents and a submucosal injection agent, across Europe and the Middle East and Africa (EMEA) region. This new portfolio was developed by Santa Clara, Calif.-based Endoclot Plus Inc., which expanded its distribution with Olympus from the U.S. to EMEA in December 2022.

Hemostats Market Report Scope:

Key Questions Answered in This Report:

• How has the global hemostats market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global hemostats market?
• What are the key regional markets?
• What is the breakup of the market based on the product?
• What is the breakup of the market based on the application?
• What is the breakup of the market based on the formulation?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global hemostats market and who are the key players?
• What is the degree of competition in the industry?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the hemostats market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global hemostats market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the hemostats industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.