Market Size –
The absorbable hemostats market size has grown strongly in recent years. It will grow from $22.30 billion in 2023 to $23.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to advances in surgical techniques, increasing prevalence of chronic diseases, rising demand for minimally invasive surgeries, improvements in hemostatic materials, and enhanced awareness of patient safety.
The absorbable hemostats market size is expected to see strong growth in the next few years. It will grow to $29.68 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to rising geriatric population, growing emphasis on personalized medicine, increasing healthcare expenditure, expansion of healthcare infrastructure, and rising incidence of trauma and emergencies. Major trends in the forecast period include development of multifunctional hemostatic products, integration of smart technologies for real-time monitoring, growing use of bioengineered materials, rise in partnerships and collaborations, and advancements in regulatory standards.
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Scope Of Absorbable Hemostats Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing number of surgical procedures is anticipated to drive the growth of the absorbable hemostats market moving forward. Surgical procedures involve medical operations performed to treat, diagnose, or manage conditions through physical alterations to tissues or organs via incisions or other techniques. The rise in surgical procedures is influenced by the increasing demand for advanced medical treatments, an aging population, and advancements in surgical technology that enable more complex and minimally invasive operations. Absorbable hemostats are crucial in surgical procedures, as they help control bleeding and promote clot formation while gradually being absorbed by the body, reducing the need for additional interventions and minimizing postoperative complications. For example, in March 2023, the British Association of Aesthetic Plastic Surgeons, a UK-based surgical organization, reported that there were 31,057 cosmetic procedures performed in 2022, marking a 102% increase from the previous year. Therefore, the increasing number of surgical procedures is significantly driving the growth of the absorbable hemostats market.
Market Trends –
Major companies in the absorbable hemostats market are focused on developing advanced products, such as absorbable hemostatic powder, to provide rapid and effective bleeding control during surgery. The absorbable hemostatic powder is a medical product used to control bleeding by promoting rapid clot formation at the site of injury, and the body naturally absorbs it after fulfilling its function. For instance, in July 2023, Baxter International Inc., a US-based healthcare company, launched PERCLOT absorbable hemostatic powder. PERCLOT granules possess a unique molecular structure that rapidly absorbs water, forming a gelled adhesive matrix that creates a mechanical barrier to stop bleeding by promoting the accumulation of platelets, red blood cells, and coagulation proteins like thrombin and fibrinogen. This feature enhances clinicians’ ability to manage a broader range of intraoperative bleeding, which is crucial in reducing the need for blood transfusions, minimizing major complications, and ultimately lowering the overall cost of care.
The absorbable hemostats market covered in this report is segmented –
1) By Type: Thrombin-Based Hemostats, Oxidized Regenerated Cellulose-Based Hemostats, Gelatin-Based Hemostats, Collagen-Based Hemostats, Other Types
2) By Application: Neurosurgery, Orthopedic Surgery, General Surgery, Reconstructive Surgery, Other Applications
3) By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Other End-Users
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Regional Insights –
North America was the largest region in the absorbable hemostats market in 2023. The regions covered in the absorbable hemostats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies in the market are Johnson & Johnson, Medtronic Plc, Becton, Dickinson and Company, Stryker Corporation, Baxter International Inc., CSL Behring, B. Braun Melsungen AG, Teleflex Incorporated, Samyang Holdings Corporation, Integra LifeSciences, Acelity, Meril Life Sciences Pvt. Ltd., Gelita AG, CryoLife Inc., Anika Therapeutics Inc., Z-Medica LLC, Cohera Medical Inc., Marine Polymer Technologies Inc., Curasan AG, Hemostasis LLC, Arch Therapeutics Inc., Cura Medical, Ferrosan Medical Devices A/S, FzioMed Inc., Guizhou Jin Jiu Biotech Co. Ltd.
Table of Contents
1. Executive Summary
2. Absorbable Hemostats Market Report Structure
3. Absorbable Hemostats Market Trends And Strategies
4. Absorbable Hemostats Market – Macro Economic Scenario
5. Absorbable Hemostats Market Size And Growth
…..
27. Absorbable Hemostats Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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