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Hemostats Market projected stable 6% CAGR driven by demand from dental and orthopedic surgeries 2030

 

Global Hemostats Market valued at $2.7 billion in 2021 and is set to witness a healthy growth rate of 6% by 2030.Surge in surgical procedures (related to cardiovascular surgery, general surgery, plastic surgery, orthopedic surgery, neurosurgery, dentistry, obstetrics, and gynecology), rising cases of trauma, technological advancements in hemostats, shrinking blood supply/donor pool in several countries, and growth opportunities in emerging markets are some of the key factors driving the market’s growth.

Hemostasis is the body’s natural reaction to an injury that stops bleeding and repairs the damage. The capability helps in conserving blood and prevents infection. Hemostats are surgical tools that are used in surgical procedures to control bleeding.

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Technological Advancements Drive the Global Hemostats Market

Uncontrollable bleeding poses substantial fatality risks and costs in the battlefield, emergency, and hospital settings. To address these concerns, players operating in the market are focusing on developing hemostatic agents that can rapidly control bleeding, possess antibacterial properties, can be used as adjuncts to control bleeding during surgical procedures, and control residual problematic bleeding if conventional methods fail.

  • In Feb 2022, Futura Surgicare Pvt Ltd.’s new vertical Dolphin Hemostats launched hemostatic products under the brand Hemostax (Oxidised Regenerated Cellulose). Hemostax Standard is an absorbable hemostat that is designed to help surgeons control bleeding more efficiently.
  • In July, 2021, Medcura, Inc. launched a new class of high-performance, antibacterial hemostatic gel, Rapid-Seal®. It provides rapid bleeding management and antibacterial capabilities to improve wound treatment, help fight infections of the wound and promote an environment for safe healing.

Plastic Surgery - An Untapped Market

Plastic surgery represents a commercially lucrative opportunity for the hemostats market. Similar to most surgical procedures, plastic surgery procedures are also not without associated complications. Seromas and hematomas are relatively common complications associated with plastic surgery procedures. These complications adversely impact wound healing and result in substantial morbidity in patients. The use of hemostatic agents can significantly reduce these complications, achieve immediate hemostasis for the local bleeding site, allow earlier drain removal, and potentially avoid the use of drains altogether.

“Technologically advanced products are likely to be successful in the market. I think, there is only one product in the market that has complementary characteristics of advanced bleeding control and antimicrobial activity.” - Director, Leading Hemostat Manufacturer, United States

Emerging Markets Set to Drive the Hemostatic Agents Market

Emerging markets such as China, India, and South Korea are expected to witness double-digit growth in the coming years. The growth in the emerging markets is likely to be driven by lower-priced hemostatic products that are largely commoditized. The huge volume of surgical procedures, rising cases of trauma injuries, increasing cases of organ transplantation (legal & illegal), foray of local players, and growing capabilities of surgeons to undertake more complex and technically-challenging procedures that require efficacious, fast-acting hemostats to control bleeding are some of the key factors that are expected to fuel the demand of hemostatic agents in emerging markets.

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in Hemostats Market

The global hemostats market is marked by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and acquisitions to garner market share. For instance,

  • In July 2021, Baxter acquired PerClot Polysaccharide Hemostatic System from CryoLife. The acquisition marks Baxter’s entry into the attractive global hemostatic powder segment, broadening its portfolio offering to include a wider range of active and passive hemostatic solutions.
  • In December 2020, Teleflex completed the acquisition of Z-Medica, LLC, an industry-leading manufacturer of hemostatic products.
  • In March 2020, Ethicon, launched Surgicel® Powder Absorbable Hemostat in Australia, New Zealand, and Thailand. The company has further plans of launching it in Japan, Malaysia and India. Surgicel® Powder Absorbable Hemostat is a powdered adjunctive hemostat that is designed to help surgeons control disruptive bleeding more efficiently.

The global hemostats market is set to continue its growth due to the rise in surgical procedure volumes, technological advancements in hemostats, growing usage of hemostats in the military, emergency medical services (EMS) & hospitals, and commercial opportunities in minimally invasive surgery (MIS), plastic surgery, and knee replacement surgery.

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Competitive Landscape Analysis: Hemostats Market

The hemostats market is marked by the presence of key players such as Baxter, Ethicon, B. Braun, Becton Dickinson, Pfizer, CryoLife, Teleflex (Z-Medica), Integra LifeSciences, Biomup, Medtronic, among others.

About Medi-Tech Insights

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services in the areas of market assessments, due diligence, competitive intelligence, market sizing and forecasting, pricing analysis & go-to-market strategy. Our methodology includes rigorous secondary research combined with deep-dive interviews with industry-leading CXO, VPs, and key demand/supply side decision-makers.

Contact:

Ruta Halde
 Associate, Medi-Tech Insights
 +32 498 86 80 79
 info@meditechinsights.com 

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