Hemostat Market is geared to grow at a CAGR of 5.6% from 2023 to 2032, due to increasing number of surgical procedures | insightSLICE
The market for Hemostats was valued at US$ 3.2 billion in 2021 and is projected to increase at a CAGR of 5.6% from 2023 to 2032.
The increasing frequency of lifestyle problems, rising surgical rates, and technical advancements geared toward new product development globally are what is driving the worldwide hemostat market. The developers of the hemostats are constantly working to create new and better products.
The need for wound closure goods and devices has increased globally because of an increase in orthopedic, cardiovascular, and neurological procedures.
The hemostat market in the Asia Pacific has grown significantly, driven by rising demand from Asian nations and the expansion of medical tourism in China, India, and Japan. Due to the high prevalence of chronic and lifestyle disorders, North America generated the greatest revenue share in the market.
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Global Hemostat Market Key Segments:
By Hemostatic Agent
- Active Hemostatic Agent
- Passive Hemostatic Agent
- Sealant Agents
By Product Type
- Mechanical Hemostat
- Thrombin based Hemostat
- Oxidized Regenerated Cellulose based Hemostat
- Combination Hemostat
- Gelatin based Hemostat
- Collagen based Hemostat
- Others
By Formulation
- Matrix and Gel Hemostat
- Sheet and Pad Hemostat
- Sponge Hemostat
- Powder Hemostat
By Application
- General Surgery
- Orthopaedic Surgery
- Cardiovascular Surgery
- Neurological Surgery
- Reconstructive Surgery
- Gynaecological Surgery
- Others
By Buyer
- Hospitals
- Surgery Centers
- Nursing Homes
- Others
By Geography:
- North America
- United States
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- India
- China
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- South America
- Brazil
- Rest of South America
The key players of the Global Hemostat Market are:
Major players present in the global hemostat market include Baxter International Inc., Ethicon, Inc. (Johnson & Johnson), B. Braun Melsungen AG, C. R. Bard, Inc., Marine Polymer Technologies, Inc., Gelita Medical, Integra LifeSciences Corporation, Pfizer Inc., Teleflex Incorporated, and, Z-Medica, LLC.
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Market demand will be driven by rising demand for thrombin-based hemostats:
The market is divided into gelatin-based hemostats, collagen-based hemostats, mechanical hemostats, thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, and others based on product type.
Due to the advantages in functionality that thrombin-based hemostats provide in a variety of surgical applications, they held the greatest share of the worldwide hemostat market in 2019. The demand for thrombin-based hemostats is also on the rise due to tissue rebuilding, vascular procedures, and retraction view surgeries.
Prevalence of chronic disorders and lifestyle diseases to increase demand for orthopedic and cardiovascular operations:
Orthopedic surgery, general surgery, neurological surgery, cardiovascular surgery, reconstructive surgery, gynecological surgery, and other surgeries are some of the major segments of the global hemostat market.
A substantial portion of the overall hemostat market was accounted for by orthopedic surgery due to the prevalence of lifestyle disorders around the world, the growing geriatric population, and the rising demand for sports medicine.
In the coming years, the hemostat is expected to benefit greatly from the rising number of cardiovascular patients around the world.
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Regional performance of Hemostat Market
The global hemostat market is divided into five regions based on geography: North America, Europe, Asia Pacific, Middle East & Africa, and South America. Due to the widespread distribution of significant equipment manufacturers and the substantial demand in the region, North America accounted for the highest share of the global hemostat market.
The main causes of the high demand in North America are the rising numbers of patients with chronic non-communicable diseases, occupational ailments, and lifestyle disorders.
Europe made a substantial contribution to the industry because there were hemostat manufacturers from around the world in the area. Additionally, an increase in the frequency of surgeries due to the region’s aging population is fueling the demand for hemostats.
Due to the significant increase in medical tourism in China, India, Japan, and Southeast Asian nations, the Asia Pacific region is predicted to present profitable prospects for manufacturers and suppliers.
Due to rising investments in the construction of healthcare infrastructure and the expansion of medical tourism in the Middle East, it is projected that the hemostat market in the Middle East and Africa would gain traction.
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