Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Global Hemostats Market by Type (Thrombin, Oxidized Regenerated Cellulose, Combination, Gelatin, Collagen), Formulation (Matrix & Gel, Sheet & Pad, Sponge, Powder), Application (Orthopedic, Neurological, Cardiovascular Surgery), Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The hemostats market is valued at an estimated USD 2.7 billion in 2023 and is projected to reach USD 3.7 billion by 2028 at a CAGR of 6.7% during the forecast period
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall hemostats market and the subsegments. his report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, opportunities, and challenges.
The geriatric population represents a demographic segment with a rising demand for surgical procedures, thus underscoring the critical need for hemostatic agents in modern healthcare. Advancing age brings an increased susceptibility to a multitude of medical conditions and chronic diseases, often necessitating surgical interventions to sustain or enhance the overall quality of life.
These surgical interventions span a wide spectrum, encompassing orthopedic joint replacements, intricate cardiac procedures, and complex gastrointestinal surgeries. Given the physiological transformations inherent to aging, including diminished tissue elasticity and heightened vulnerability to hemorrhages, the precise and efficient utilization of hemostatic agents assumes paramount significance in the surgical care of elderly patients
As the global geriatric population continues its steady expansion, the requirement for hemostats is anticipated to amplify proportionally, thus emphasizing their indispensable role in addressing the nuanced healthcare needs of elderly individuals undergoing surgical treatments.
Combination hemostats segment accounted for the highest growth rate in the hemostats market, by type, during the forecast period
The hemostats market is bifurcated into oxidized regenerated cellulose-based hemostats, thrombin-based hemostats, combination hemostats, gelatin-based hemostats, collagen-based hemostats, and other hemostats on the basis of type. The combination hemostats segment in the hemostats market is experiencing substantial growth. Combination hemostats are often more effective at achieving hemostasis than single-agent hemostats. This is because they combine the strengths of different types of hemostats.
Sponge hemostats segment accounted for the highest growth rate in the hemostats market, by formulation, during the forecast period
The global hemostats market is bifurcated into matrix & gel hemostats, sheet & pad hemostats, sponge hemostats, and powder hemostats. The sponge hemostats segment is currently witnessing the highest growth rate within the hemostats market. Market growth can largely be attributed to the growing acceptance of these formulations by end users due to the various advantages associated with them.
Asia Pacific: The fastest-growing region hemostats market
Asia Pacific market is expected to witness the highest growth during the forecast period. Emerging countries in this region are witnessing growth in their GDPs and a significant rise in disposable income levels. This has led to increased healthcare spending by a larger population base. Other factors such as the increasing incidence & prevalence of chronic diseases, increasing burden of surgical procedures, healthcare infrastructure modernization, and the rising penetration of cutting-edge technologies (especially in rural areas) in Asia Pacific countries are also expected to provide significant growth opportunities for hemostats companies in this region.
Also, other factors contributing to the growth include government efforts to increase awareness about the management of diseases and the increasing number of hospitals and clinics in India and China. The healthcare expenditure in Asian countries has also increased drastically. Growth in healthcare expenditure serves to increase the purchasing power of healthcare providers and stimulate the adoption of advanced medical/surgical supplies, including hemostats, in the region.
The report provides insights on the following pointers:
- Analysis of key drivers (growing volume of surgical procedures performed, rising focus on R&D, and rising focus on effective blood loss management in patients during surgeries), restraints (side effects and allergic reactions associated with hemostats), opportunities (growth opportunities in emerging economies and growing number of hospitals), and challenges (stringent regulatory framework, dearth of skilled personnel for effective use of hemostats, and high cost of hemostats) influencing the growth of the hemostats market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the hemostats market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the hemostats market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the hemostats market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like Johnson & Johnson (US), Baxter International (US), Pfizer Inc. (US), B. Braun SE (Germany), and Becton, Dickinson and Company (US), among others in the hemostats market strategies
Companies Mentioned
- 3-D Matrix Medical Technology
- Advanced Medical Solutions Group plc
- Altaylar Medical
- B. Braun Se
- Baxter International
- Becton, Dickinson and Company
- Betatech Medical
- Biocer Entwicklungs-GmbH
- Dilon Technologies, Inc.
- Gelita Medical GmbH
- Hemostasis, LLC
- Hemostat Medical GmbH
- Integra Lifesciences
- Johnson & Johnson
- Katsan Medical Devices
- Marine Polymer Technologies, Inc.
- Medtrade Products Limited
- Medtronic plc
- Meril Life Sciences Pvt. Ltd.
- Pfizer Inc.
- Samyang Holdings Corporation
- Stryker Corporation
- Teleflex Incorporated
- Tricol Biomedical
- Unilene
For more information about this report visit https://www.researchandmarkets.com/r/uq6mde
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