New York, April 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hemostats Global Market Report 2023" - https://www.reportlinker.com/p06451218/?utm_source=GNW
The global hemostats market is expected to grow from $2.91 billion in 2022 to $3.19 billion in 2023 at a compound annual growth rate (CAGR) of 9.43%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hemostats market is expected to reach $4.19 billion in 2027 at a CAGR of 7.07%.
The hemostat market consists of sales of cellolose based and thrombin-based hemostats.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Hemostat refers to a surgical tool used in many surgical procedures that helps to treat or compress bleeding vessels while doing surgeries. It also helps to hold the deeper regions of the wound that can be visualized by using this equipment.
North America was the largest region in the hemostats market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the hemostats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The various type of hemostats are thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelatin-based hemostats, and collagen-based hemostats.Thrombin-based hemostats are used in conjunction with or as an alternative to traditional surgical techniques to control and reduce blood loss during surgical procedures.
It refers to an enzyme that breaks down fibrinogen into fibrin.Blood that has been exposed to thrombin directly clots it.
Topical (bovine) thrombin (thrombin-jmi), topical (human) thrombin (evithrom), and topical (recombinant) thrombin are the active hemostats (recothrom).The various products include active hemostats, passive hemostats, combination hemostats, and other products.
The various types of formulation includes matrix and gel hemostats, sheet and pad hemostats, sponge hemostats, and powder hemostats. The various types of application includes orthopedic surgery, general surgery, neurological surgery, cardiovascular surgery, reconstructive surgery, gynecological surgery, and other applications.
An increase in surgical procedures is expected to propel the growth of the hemostat market going forward.Surgical procedures refer to all forms of invasive treatments that are used on a person to investigate or treat a pathological condition.
Hemostats are essential for surgical procedures as they are used to prevent blood loss while performing surgery. For instance, according to the American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) report in February 2022, 1.4 million surgical and non-surgical procedures have been done in 2021, on an average of 600 more procedures had increased when compared with 2020. Therefore, an increase in surgical procedures is driving the growth of the hemostat market.
Technological advancement is a key trend in the hemostats market.Major companies in the hemostats market are advancing in their new technologies and research and developments in the hemostats market.
For instance, in March 2020, Ethicon, a US-based provider of surgical sutures and wound closure devices, introduced a surgical powder absorbable hemostat, a powdered adjunctive hemostat that is built on proven SURGICEL absorbable hemostat technology.This helps to improve the effectiveness of disruptive bleeding control for surgeons.
It is made to manage persistent, widespread oozing and quickly halt bleeding and is suitable for use in a variety of surgeries, including several gynecologic, oncologic, cardiovascular, and general procedures, since it can be applied readily across vast surfaces.
In December 2020, Teleflex Incorporation, a US-based medical devices company, acquired Z-Medica LLC for $500 million.This acquisition aimed to help Teleflex to reach a revenue growth profile and to adjust earnings per share.
Z-Medica LLC is a US-based manufacturer of medical devices, including hemostats.
The countries covered in the Hemostats market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The hemostats market research report is one of a series of new reports that provides hemostats market statistics, including hemostats industry global market size, regional shares, competitors with a hemostats market share, detailed hemostats market segments, market trends and opportunities, and any further data you may need to thrive in the hemostats industry. This hemostats market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06451218/?utm_source=GNW
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