The global hemostats market was valued at $2,805.93 million in 2021 and is projected to reach $4,712.2 million by 2031 registering a CAGR of 5.3% from 2021 to 2031.
Hemostats are materials or products that when placed on a bleeding site during surgery stop the bleeding by the bloods clotting function. Hemostat are used in many surgical procedures to control bleeding on tissue or organ. They stop both internal and external major or minor bleeding due to injuries, cuts, tearing, ruptures, dental operations, and surgical or spontaneous interventions. Different types of hemostats are available in the market such as thrombin-based hemostats, collagen-based hemostats, gelatin-based hemostats, and cellulose-based hemostats. Hemostats are designed to clamp small blood vessels for hemorrhage control. As a result, they are widely employed in surgical centers, hospitals, and nursing positions. They are available in various sizes, materials, and compositions and used in surgeries and trauma cases.
The major factors that foster the growth of the global hemostats market are surge in number of surgical procedures and availability of medical specialties for the treatment and management of several diseases. In addition, rise in number of cardiac surgeries & orthopedic surgeries and surge in number of injuries and accidents boost the growth of the hemostats market. Moreover, technologically advancements in products having rapid effects are expected to propel the demand for hemostats during the forecast period.
For instance, in February 2021, EndoClot Plus Inc. announced that it received an FDA approval for EndoClot Polysaccharide Hemostatic System. This innovative product helps gastroenterologists to prevent bleeding rapidly. This technology represents a significant milestone in advancing the care of gastrointestinal problems. In addition, in March 2020, the Institute of Nano Science and Technology, under the Department of Science & Technology, developed a starch-based hemostat material. This material helps in stopping the blood flow by concentrating the natural clotting factors in the blood. Thus, the aforementioned factors are anticipated to drive the growth of the hemostat market.
As per the estimates published by the National Center for Biotechnology Information (NCBI), about 60-70% of all transfused red blood cells are utilized in a surgical setting, as bleeding during surgeries is one the most feared complications to occur in these procedures and hemostats reduce that complications of bleeding during surgical procedure. This has led to substantial demand for hemostat product offerings in the global market.
However, clinical limitations with certain products severely hamper the growth of the market. In contrast, increase in number of number of hospitals and surgical centers in both developed and emerging countries is expected to offer lucrative growth opportunities for players in the hemostats market.
The global hemostats market is segmented into type, formulation, application, and region to provide a detailed assessment of the market. By type, the market is segregated into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelation-based hemostats, collagen-based hemostats, and others. On the basis of formulation, it is categorized into matrix & gel hemostats, sheet & pad hemostats, sponge hemostats, powder hemostats, and others. Depending on application, it is fragmented into orthopedic surgery, general surgery, neurological surgery, cardiovascular surgery, reconstructive surgery, gynecological surgery, and other surgeries.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global hemostats market are Baxter International Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Hemostatis LLC, Integra Life Sciences Corporation, Johnson & Johnson, Medtronic Plc, Pfizer Inc., Stryker Corporation, and Teleflex Incorporated.
Key benefits for stakeholders
Hemostats are materials or products that when placed on a bleeding site during surgery stop the bleeding by the bloods clotting function. Hemostat are used in many surgical procedures to control bleeding on tissue or organ. They stop both internal and external major or minor bleeding due to injuries, cuts, tearing, ruptures, dental operations, and surgical or spontaneous interventions. Different types of hemostats are available in the market such as thrombin-based hemostats, collagen-based hemostats, gelatin-based hemostats, and cellulose-based hemostats. Hemostats are designed to clamp small blood vessels for hemorrhage control. As a result, they are widely employed in surgical centers, hospitals, and nursing positions. They are available in various sizes, materials, and compositions and used in surgeries and trauma cases.
The major factors that foster the growth of the global hemostats market are surge in number of surgical procedures and availability of medical specialties for the treatment and management of several diseases. In addition, rise in number of cardiac surgeries & orthopedic surgeries and surge in number of injuries and accidents boost the growth of the hemostats market. Moreover, technologically advancements in products having rapid effects are expected to propel the demand for hemostats during the forecast period.
For instance, in February 2021, EndoClot Plus Inc. announced that it received an FDA approval for EndoClot Polysaccharide Hemostatic System. This innovative product helps gastroenterologists to prevent bleeding rapidly. This technology represents a significant milestone in advancing the care of gastrointestinal problems. In addition, in March 2020, the Institute of Nano Science and Technology, under the Department of Science & Technology, developed a starch-based hemostat material. This material helps in stopping the blood flow by concentrating the natural clotting factors in the blood. Thus, the aforementioned factors are anticipated to drive the growth of the hemostat market.
As per the estimates published by the National Center for Biotechnology Information (NCBI), about 60-70% of all transfused red blood cells are utilized in a surgical setting, as bleeding during surgeries is one the most feared complications to occur in these procedures and hemostats reduce that complications of bleeding during surgical procedure. This has led to substantial demand for hemostat product offerings in the global market.
However, clinical limitations with certain products severely hamper the growth of the market. In contrast, increase in number of number of hospitals and surgical centers in both developed and emerging countries is expected to offer lucrative growth opportunities for players in the hemostats market.
The global hemostats market is segmented into type, formulation, application, and region to provide a detailed assessment of the market. By type, the market is segregated into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelation-based hemostats, collagen-based hemostats, and others. On the basis of formulation, it is categorized into matrix & gel hemostats, sheet & pad hemostats, sponge hemostats, powder hemostats, and others. Depending on application, it is fragmented into orthopedic surgery, general surgery, neurological surgery, cardiovascular surgery, reconstructive surgery, gynecological surgery, and other surgeries.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global hemostats market are Baxter International Inc., B. Braun Melsungen AG, Becton Dickinson and Company, Hemostatis LLC, Integra Life Sciences Corporation, Johnson & Johnson, Medtronic Plc, Pfizer Inc., Stryker Corporation, and Teleflex Incorporated.
Key benefits for stakeholders
- The study provides an in-depth analysis of the global hemostats market along with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2021 to 2031 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the application and types of hemostats used across the globe.
- Key market players and their strategies have been analyzed to understand the competitive outlook of the market.
Key Market Segments
By Type
- Thrombin Based Hemostats
- Oxidized Regenerated Cellulose Based Hemostats
- Combination Hemostats
- Gelatin Based Hemostats
- Collagen Based Hemostats
- Others
By Formulation
- Sheet and Pad Hemostats
- Sponge Hemostats
- Powder Hemostats
- Others
- Matrix and Gel Hemostats
By Application
- Orthopedic Surgery
- General Surgery
- Neurological Surgery
- Cardiovascular Surgery
- Reconstructive Surgery
- Gynecological Surgery
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- 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
- Teleflex Incorporated
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HEMOSTATS MARKET, BY TYPE
CHAPTER 5: HEMOSTATS MARKET, BY FORMULATION
CHAPTER 6: HEMOSTATS MARKET, BY APPLICATION
CHAPTER 7: HEMOSTATS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Hemostats Market," the hemostats market was valued at $2.8 billion in 2021, and is estimated to reach $4.7 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.Control of excessive bleeding during surgery is a difficult but important task. Products called hemostats can be placed on a bleeding sites during surgery to help the body’s own processes for clotting. It is used during early phases of surgery for an initial incision that closes blood vessels until ligation. Hemostats are look like rings scissors. Frequently hemostatic forceps have a locking mechanism called a ratchet, which is used for clamping. Hemostats such as absorbable gelatin sponge, collagen hemostat, and oxidized cellulose are commercially available.
Increase in number of product approvals notably contribute toward the growth of the global market. For instance, in July 2021, Baxter acquired PerClot Polysaccharide hemostatic system from CryoLife. This acquisition marks Baxter’s entry into the attractive global hemostatic powder segment, broadening its portfolio offering to include a wide range of active and passive hemostatic solutions. In addition, in December 2020, Teleflex completed the acquisition of Z-Medica, LLC, an industry leading manufacturer of hemostatic products. Thus, rise in number of acquisitions boosts the growth of the hemostats market. In addition, surge in incidence of sports-related injuries spinal aliments is a key factor that fuels growth of the global market.
Moreover, according to study of BMJ Journals, in India, over 60,000 open heart surgeries are performed yearly. According to the report by the British Heart Foundation, in 2021, 7.6 million people were living with heart & circulatory diseases, and it causes about 25% deaths in the UK. Thus, alarming rise in the prevalence of cardiovascular diseases increases the number of cardiac surgeries, which lead to high usage of hemostats for performing surgeries is one of the leading hemostats market trends.
However, high cost of hemostat products hinder the growth of the market. On the contrary, advancements in hemostat products and increase in preference for surgeries are expected to offer remunerative opportunity for the manufacturers to tap and capitalize in the market.
The global hemostats market analysis is segmented into type, formulation, application, and region. By type, the market is categorized into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelation-based hemostats, collagen-based hemostats, and others.
On the basis of product type, the thrombin-based hemostats market size segment dominated the global market in 2021, and is anticipated to continue this trend during the forecast period, owing to surge in adoption of thrombin-based hemostats. In addition, the combination hemostats market share is expected to hold higher market share during the forecast period, owing to increase in investments in the development of new hemostat products and the advantages associated with the use of combination hemostats.
Depending on formulation, the matrix & gel hemostats market size acquired the largest share in 2021, and is expected to remain dominant throughout the forecast period. This is attributed to the advantages associated with matrix & gel hemostats, such as easy application, biocompatibility, and cost-effectiveness. On the other, the hand sponge hemostats segment is expected to witness the highest growth in the market during forecast period.
By application, the orthopedic surgery segment dominated the market in 2021, and is anticipated to continue this trend during the forecast period. This is attributed to increase in number of cardiovascular diseases, which, in turn, has led to rise the number of cardiac surgeries.
Region wise, North America accounted for the largest share of the global hemostats industry in 2021, and is expected to remain dominant throughout the forecast period. This is attributed to the presence of giant biopharmaceutical and pharmaceutical firms in the U.S. In addition, increase in adoption of hemostats drives the hemostats industry growth in the region.
Key Findings of the Study
- Depending on type, the thrombin-based hemostats segment held largest market share in 2021, and is expected to remain dominant throughout the forecast period.
- By formulation, the matrix & gel hemostats dominated the global market in 2021, and is anticipated to continue this trend during the forecast period.
- On the basis of application, the orthopedic surgery acquired the highest position in the global market, and is anticipated to continue this trend during the forecast period.
- Region wise, North America is expected to experience notable growth, registering a CAGR of 4.3% during the forecast period.
Companies Mentioned
- 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
- Teleflex Incorporated
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 237 |
| Published | June 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 2805.93 million |
| Forecasted Market Value ( USD | $ 4712.2 million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
