Westford, USA, April 04, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the Hemostatic Agents market will attain a value of USD 6.87 billion by 2030, with a CAGR of 6.1% over the forecast (2022-2030). The use of technologically specialized hemostasis agents is necessary due to the rise in individuals with bleeding issues. The prevalence of chronic diseases among the ageing geriatric populace is increasing demand for hemostasis agents. The demand for hemostatic agents will be high due to the rise in surgical operations worldwide, which will propel the market's expansion. According to the SkyQuest's, the World Health Organization (WHO) estimates that more than 1.25 million people are injured in car accidents each year, and many of those fatalities result in severe hemorrhage, which fuels the demand for hemostasis medications. The worldwide market for hemostatic agents is also anticipated to be driven by improvements in surgical technique, such as robot assisted surgery, as well as an expanding elderly population.
According to the SkyQuest's, over 3.2 million Americans live with a bleeding condition each year, the PhRMA report Disorders of the Blood 2022, which was released in May 2022. As a result, the market for hemostatic agents is likely to grow as a result of an increase in patients with blood disorders and the increasing need to treat different bleeding conditions. Additionally, The U.S. Army Institute of Surgical Research (USAISR) found that if blood loss persists and the patient enters Stage II shock or worse, the survivability rate decreases to just 14%.
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- Tables - 127
- Figures - 75
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Hemostasis, also known as haemorrhage control, is the act of stopping bleeding or blood flow through a blood vessel. Hemostasis involves the formation of a clot at the site of the bleeding, which heals the blood artery. Primary hemostasis, secondary hemostasis and fibrinolysis are all types of hemostasis. Platelets clump together to form a plug-in case of a blood vessel injury. The formation of a fibrin mesh to hold the platelets in place is the product of a protein association known as clotting factors. This promotes healing of the wound while also preventing blood from leaking out of the blood artery. Hemostatic drugs are used to halt the flow of blood by promoting clotting. This increases hemostasis by accelerating the coagulation process.
Prominent Players in Hemostatic Agents Market
- Johnson and Johnson Services Inc.
- Covidien PLC.
- Gelita GmbH
- Sanofi Group
- Vascular Solutions, Inc.
- Equimedical
- C.R. Bard Incorporation
- Hemostasis, LLC
- Pfizer Inc.
- Advanced Medical Solutions Group
- Integra Life Sciences Corporation
- Atrium Medical Corporation
- Marine Polymer Technologies
- Cryolife, Inc.
- B.Braun Melsungen AG
- Z-Medica LLC
- Mallinckrodt Plc.
- Baxter International Incorporation
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Orthopedic surgery accounted for the largest share due to prevalence of lifestyle disorders
The orthopedic surgery segment accounted for the largest share of the hemostatic agents market. The main causes of orthopedic surgery are growing geriatric population, increasing incidence of sports injuries and the growing prevalence of lifestyle disorders (such as osteoporosis, arthritis and obesity) are some of the major factors responsible for the growing number of orthopedic surgeries performed globally. However, the reconstructive surgery segment is expected to grow at the highest CAGR during the forecast period. Growth in the number of facial cosmetic surgeries and breast reconstruction procedures are the major factors driving the growth of this segment
SkyQuest's research analysis forecasts that North America will emerge as a dominant player in the Hemostatic Agents market from 2022 to 2030, with a projected CAGR of 6.1% during the forecast period. By the end of 2022, North America is anticipated to continue to control the global market. The market in North America is primarily led by the sharp rise in the number of elderly people, the number of surgical procedures, and the number of patients. The industry in the U.S. is also being driven by an increase in players and products as well as a strong focus on research and development.
General surgery segment is expected to dominate the application segment due to an rising number of surgical procedures
The general surgery sector is anticipated to dominate the application segment due to the increase in surgical procedures. During the forecast period, the segment for cardiovascular and trauma is anticipated to have the greatest CAGR. This is carried by an increase in traumatic events such as crashes and a rise in cardiovascular conditions that require surgical intervention. Cardiovascular surgery is anticipated to maintain a 20.1% market share during the projection period. Orthopedic surgery, plastic surgery and neurosurgery are expected to experience growth due to the rising prevalence of chronic diseases, increased demand for minimally invasive and aesthetic procedures, significant improvements in healthcare infrastructure and rising global expenditure.
Asia Pacific is predicted to have the greatest CAGR due to its large patient base, rising surgical procedures and increased product launches. Latin America and the Middle East & Africa are two other areas that are expected to have relatively lower market shares and growth rates. This can be attributed to factors such as a significant increase in healthcare spending and facilities. Additionally, a large potential patient base brought by an increase in surgical procedures is anticipated to support the development of the hemostatic agents market over the course of the forecast period.
A comprehensive analysis of the major players in the Hemostatic Agents market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Hemostatic Agents Market
- In October 2022, Creilson, Inc., a Brooklyn-based biotechnology company, announced that a USD 25 million Series A-4 fundraising round, led by Paulson Investment Company, had been successfully completed, after submitting a 510(k) premarket notification to the US Food and Drug Administration. This will hasten the introduction of VETIGEL, a revolutionary hemostatic gel, into the human health market.
- In February 2021, EndoClot Plus, Inc. announced that the US Food and Drug Administration had approved the company's EndoClot Polysaccharide Hemostatic System. (FDA). Using this cutting-edge device, gastroenterologists can quickly stop bleeding. This device marks a big step forward in the treatment of G.I. patients.
Key Questions Answered in Hemostatic Agents Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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