According to a recent report published by IndustryARC, rise in traumatic and chronic diseases has increased the demand for effective medical tools and devices, as well as active and passive agents to control excessive bleeding, thereby opening up huge opportunities for the global hemostats market. The global hemostats market generated $6,778.3m in revenue in 2018. The US-based Society of Thoracic Surgeons (STS) highlights that its database includes over 6.5 million cardiac surgery records. Additionally, the U.S. has a large geriatric population, which reflects the risk of several diseases such as arthritis, renal problem, and many more, which generate huge demand for surgery and medical hemostats. The North America region held 47% share of the global hemostats market in 2018.
The report is titled “Hemostats Market: By Type (Active, Passive, Flowable, Sealants, and Adhesive); By Treatment (Cardiac Surgery, Vascular Procedure, Soft Tissue Reconstruction, Spinal Procedures, Hepatic Resection, and Others); By End User (Hospitals, Surgery Centers, Nursing Homes, and Others); & By Geography - Forecast (2018-2023).” This report provides an in-depth analysis of the changing aspects of the niche market and a comprehensive industry coverage analysis from the vendor’s perspective.
Global Hemostats Market: Leading Segments:
An upsurge in the global demand associated with the need for advanced hemostats in the medical industry along with increasing incidences of neurosurgery, cardiac surgery, and cesarean delivery will elevate the hemostats market scope. As per the report, the global hemostats market is evaluated to grow at a CAGR of 7.29% through 2025. Among other treatment procedures, cardiac surgery is projected to generate a huge hemostats market demand. The cardiac surgery segment is projected to grow at a CAGR of 7.9% during the forecast period 2019--2025.
The key companies operating in the global hemostats market include Baxter International Inc., Johnson and Johnson, Pfizer Inc., CSL Behring, Mallinckrodt Pharmaceuticals, B. Braun Melsungen AG, C. R. Bard, Inc., Medtronic Vascular solutions, and Vitagel Surgical Hemostat. Baxter International Inc. is a renowned healthcare company that caters to the needs of medical facilities by delivering an innovative range of life-saving products. These products include anesthetic gases and drugs, biosurgical equipment, injectables and syringes, and many others. It also provides several hemostatic sealants, adhesives, and tools, which are vital during surgical procedures and ligation closure.
Global Hemostats Market: Growth Drivers And Innovations:
· Chronic diseases are incessantly increasing across the world coupled with increasing accidental injuries, high health risks in the elderly population, and growing governmental healthcare awareness programs and R&D investments are significantly driving the global hemostats market.
· BoneSeal hemostatic, which effectively heals bone damage and also facilitates faster bone growth has gradually paved its way into the American cardiac surgery market.
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