Hemostats Market Overview
Hemostasis is a complex procedure, which requires the coordinated activation of platelets and plasma clotting factors to form a platelet-fibrin clot. Hemostat agents are essential surgical agents used for the prevention and regulation of bleeding of the veins or arteries. Surgery is a foundational component of healthcare systems, which in turn results in the use of hemostats. The market is estimated to grow at a CAGR of 7.25% during the forecast period 2018–2023. The Asia-Pacific Hemostats market is forecast to grow at the highest CAGR of 9.8%, which can be mainly attributed to the increasing population and more number of surgeries taking place in this region.
Hemostats Market Outlook
Hemostatic agents (topical/mechanical) are used to manage to bleed during surgical procedures. These have the potential to be used across the body as they have lower adverse effects than other devices. The U.S. FDA has approved the usage of these hemostatic agents in neurosurgery, urology, orthopedics, trauma medicine, and gynecology. Increase in surgical procedures across the globe coupled with the rise in the number of insurance providers are set to propel the hemostatic agents market. The Hemostats market is segmented on the basis of type into active, passive, flowable, sealants and adhesive. The Hemostats market has also been segmented by treatment into cardiac surgery, vascular procedure, soft tissue reconstruction, spinal procedures, hepatic resection, and others. Based on end users, the Hemostats market is also segmented into hospitals, surgery centers, nursing homes, and others. The market has been segmented on the basis of its geographic region comprising of North America, Europe, Asia-Pacific, and Rest of the World.
Hemostats Market Growth Drivers
The main driving forces for the growing market are advanced technology for hemostatic agents, a growing number of surgical procedures, patient’s awareness about medical diseases, and treatments. Medically invasive procedures are still considered an ideal choice for the cure and prevention of many diseases and is the major driver for the Hemostats market. The rise in demand for fibrin sealants, used as an adjunct to hemostasis for use in patients undergoing surgery, is also contributing to the market growth. Many novel hemostats and tissue sealants are being developed to address trauma-associated hemorrhages and contaminations associated with sealants.
Hemostats Market Challenges
The Hemostats market is fragmented in nature with many key players in the market. Few companies have established a strong distribution network in countries, such as the U.S. and Germany. However, there is still a large gap to fill in terms of serving the global customer base. Stringent regulatory norms often discourage new manufacturers from exploring the market. Also, reluctance by leading practitioners to switch from traditional practices to newly developed devices is a challenge faced by the Hemostats market.
Hemostats Market Research Scope
The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the hemostatic agents. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of hemostats and their specific applications in treatments and end users.
Hemostats Market Report: Industry Coverage
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
The Hemostats market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
- North America: The U.S., Canada, Mexico
- South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica, Rest of South America
- Europe: The U.K., Germany, Italy, France, Netherlands, Belgium, Spain, Denmark and Rest of Europe
- APAC: China, Australia, Japan, South Korea, India, Taiwan, and Malaysia
Hemostats Market Trends
- Expansion of private hospital chains in APAC region is one of the key trends associated with the Hemostat market. The rising instances of cosmetic and plastic surgeries, patients shifting towards minimally invasive laparoscopic procedures is an upcoming opportunity in the hemostat market. Increase in the number of injuries, accidents, and geriatric population is leading to an increase in the number of surgeries performed globally. This, in turn, is leading to the growth independent markets, such as the Hemostats market.