Hemostats Market 2023

PORTLAND, OREGON, UNITED STATES, June 1, 2023/EINPresswire.com/ -- According to the report published by Allied Market Research, the global hemostats market generated $2.8 billion in 2021, and is projected to reach $4.7 billion by 2031, witnessing a CAGR of 5.3% from 2022 to 2031. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.

Key Takeaways:

Market Growth: The hemostats market has experienced significant growth in recent years and is expected to continue growing at a steady pace. Factors such as the rising number of surgical procedures, increasing prevalence of chronic diseases, and advancements in hemostat technology are driving market growth.

Increasing Demand: There is a growing demand for hemostats in various healthcare settings, including hospitals, clinics, and ambulatory surgical centers. Hemostats are widely used to control bleeding during surgeries and minimize blood loss, leading to improved patient outcomes.

Product Innovation: The market is witnessing continuous product innovations and advancements. Manufacturers are developing new hemostat formulations, including synthetic and biodegradable options, which offer improved efficacy and reduced side effects compared to traditional options.

Rising Minimally Invasive Surgeries: The increasing adoption of minimally invasive surgical procedures is contributing to the demand for specialized hemostats. These procedures require precise and effective hemostatic agents to control bleeding through small incisions or natural orifices.

Competitive Landscape: The hemostats market is highly competitive, with several key players operating globally. Companies are focusing on strategic collaborations, mergers, and acquisitions to expand their product portfolios and strengthen their market presence.

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Market Drivers:

Increasing Surgical Procedures: The growing number of surgical procedures, including cardiac surgeries, orthopedic surgeries, general surgeries, and minimally invasive procedures, is driving the demand for hemostats. Hemostats are crucial in controlling bleeding and reducing the risk of complications during and after surgery.

Rising Prevalence of Chronic Diseases: The global burden of chronic diseases, such as cardiovascular diseases, cancer, and gastrointestinal disorders, is increasing. These conditions often require surgical interventions, leading to a higher demand for hemostats to manage bleeding effectively.

Advancements in Hemostat Technology: Ongoing advancements in hemostat technology have resulted in the development of more effective and efficient products. For example, the introduction of advanced hemostatic agents with improved hemostatic properties, reduced side effects, and shorter application times has boosted their adoption in clinical practice.

Market Segmentation:

Product Type:
a. Active Hemostats: These include products that promote clotting and facilitate hemostasis through mechanisms such as thrombin activation, platelet aggregation, or fibrinogen interaction. Examples include thrombin-based hemostats, fibrin sealants, and combination products.
b. Passive Hemostats: These products work by providing mechanical support and compression to control bleeding. They do not involve any chemical or biological interaction. Examples include gelatin-based hemostats, collagen-based hemostats, and cellulose-based hemostats.

Application:
a. General Surgery: Hemostats used in general surgical procedures such as abdominal surgery, trauma surgery, and gastrointestinal surgery.
b. Cardiovascular Surgery: Hemostats specifically designed for cardiovascular procedures like cardiac surgery, vascular surgery, and angioplasty.
c. Orthopedic Surgery: Hemostats used in orthopedic procedures, including joint replacements, fracture repairs, and spine surgeries.
d. Neurosurgery: Hemostats utilized in neurosurgical procedures, such as brain surgeries and spinal cord surgeries.
e. Others: This category includes hemostats used in various specialties like gynecology, urology, ophthalmology, and dermatology.

End User:
a. Hospitals: Hemostats used in large hospitals and medical centers for various surgical procedures.
b. Ambulatory Surgical Centers: Hemostats employed in outpatient surgical centers that perform same-day surgical procedures.
c. Clinics: Hemostats used in smaller clinics and healthcare facilities for minor surgical procedures and wound management.

Geography:
The market can be segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

These are general segmentation criteria, and different reports or studies may use additional or slightly different segmentation parameters based on their specific focus and purpose.

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Regional Growth Dynamics:

Based on region, North America contributed to more than two-fifths of the total market share in 2021 and is estimated to continue its dominancy through 2031. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.1% during the forecast period. The other regions analyzed in the report are Europe and LAMEA.

Competitive Landscape:

Leading players of the global hemostats market analyzed in the research include Baxter International Inc., B.Braun Melsungen AG, Becton Dickinson and Company, Hemostatis LLC, Integra Life Sciences Holding Corporation, Johnson and Johnson, Medtronic Plc, Pfizer Inc., Stryker Corporation, and Teleflex Incorporated.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

David Correa
Allied Analytics LLP
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