In 2021, the global hemostats market is expected to be worth US$ 3.1 billion. Looking ahead, AMR Group anticipates the market to reach US$ 4.4 billion by 2027, growing at a CAGR of 6% between 2022 and 2027. Keeping the uncertainties of COVID-19 in mind, we are constantly watching and evaluating the pandemic’s direct and indirect impact. These findings are cited in the study as a significant market contributor.
Hemostats are devices that squeeze blood arteries to stop the flow of blood or other fluids. They are typically used in conjunction with surgical treatments to control bleeding. Hemostatic drugs provide several advantages, including faster wound healing and operative time, improved management of anticoagulated patients, and a shorter patient recovery period. There is a diverse spectrum of surgical hemostatic medicines on the market, each with its own unique composition, cost, immunogenicity, mechanism of action, application, and adherence.
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Market Segmentation:
The hemostats market can be segmented based on the product type, application, end-user, and region.
Based on the product type, the hemostats market can be segmented into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelatin-based hemostats, collagen-based hemostats, and others.
Based on the application, the market can be segmented into general surgery, cardiovascular surgery, orthopedic surgery, neurological surgery, urological surgery, reconstructive surgery, and others.
Based on the end-user, the market can be segmented into hospitals, ambulatory surgical centers, and specialty clinics.
Based on the region, the market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The thrombin-based hemostats segment is expected to hold the largest share of the hemostats market, driven by its effectiveness in controlling bleeding and its ability to work quickly. The cardiovascular surgery segment is expected to hold the largest share of the market by application, driven by the high prevalence of cardiovascular diseases and the increasing demand for cardiovascular surgeries. Hospitals are expected to be the largest end-user segment of the market, driven by the high patient volume and the availability of advanced medical technologies in hospitals.
Key Players:
The global hemostats market is highly competitive, with a large number of players operating in the space. The market is characterized by the presence of both global and regional players, with the global players dominating the market share. Some of the key players in the hemostats market include Johnson & Johnson, Baxter International Inc., C.R. Bard Inc., B. Braun Melsungen AG, Pfizer Inc., Medtronic plc, Integra LifeSciences Corporation, Ethicon Inc., Zimmer Biomet Holdings, Inc., and CryoLife, Inc. These companies are investing in research and development to develop new and innovative hemostats, as well as engaging in mergers and acquisitions to expand their market share. For example, in 2020, Johnson & Johnson acquired the assets of the surgical division of the LifeScan business of Animas Corporation, which included hemostatic products such as SURGICEL and SURGIFLO. In 2019, Baxter International Inc. acquired Seprafilm Adhesion Barrier and related assets from Sanofi for $350 million to expand its surgical portfolio. In addition, several new players are entering the market, with a focus on developing innovative products that address the unmet needs of patients and healthcare providers. For example, in 2019, Arch Therapeutics, Inc. received clearance from the U.S. FDA for its AC5 Advanced Wound System, a self-assembling peptide product that can be used as a hemostat.
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Regional Analysis:
The hemostats market can be analyzed based on regional segments such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for hemostats, driven by the high prevalence of chronic diseases and the growing aging population. The region has a well-established healthcare infrastructure and a high level of healthcare expenditure, which supports the adoption of new medical technologies. Key players in the market are also based in North America, which contributes to the market’s growth. Europe is another significant market for hemostats, driven by the increasing demand for surgical procedures and the presence of a large number of medical device manufacturers. The region has a well-established regulatory framework that ensures the safety and efficacy of medical devices, which supports the adoption of new hemostats.
The Asia Pacific hemostats market is expected to grow at a significant rate, driven by the increasing prevalence of chronic diseases, rising healthcare expenditure, and the growing demand for surgical procedures in the region. The region is home to a large population and has a rapidly growing aging population, which is driving the demand for medical technologies such as hemostats. Latin America and the Middle East & Africa hemostats market are also expected to grow in the coming years, driven by increasing investments in healthcare infrastructure and the growing demand for medical technologies in the region.
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