South & Central America Flowable Hemostats Market Forecast to 2028 - Regional Analysis - by Material, Product, Application, and End User

The South & Central America flowable hemostats market is expected to grow from US$ 40.12 million in 2022 to US$ 48.41 million by 2028. It is estimated to grow at a CAGR of 3.2% from 2022 to 2028.

Research and Development (R&D) Activities Leading to Product Innovations Fuel South & Central America Flowable Hemostats Market

Hemostat products are high in demand in the healthcare industry. Over the past several years, many hemostat products have been developed and utilized in several surgical procedures. Researchers are carrying out intensive research and development activities resulting in product innovations. For Instance, In December 2019, Ethicon's (Johnson & Johnson Medical Device Companies) new product, "SURGIFLO Hemostatic Matrix." SURGIFLOW flowable hemostatic product stops bleeding while performing surgery and is faster than FLOSEAL (manufactured by Baxter). Furthermore, In January 2018, Z-Medica, LLC, a leading developer and marketer of hemostatic devices introduced QuikClot Control+ which can help save lives and fill the unmet need of hospitals across the country. QuikClot Control+ is indicated for temporary control of internal organ space bleeding for patients displaying class III or class IV bleeding. It may even be used to control severe bleeding wounds such as surgical wounds and traumatic injuries. Thus, research and development activities leading to product innovations are predicted to deliver an impetus for the growth of the overall flowable hemostats market during the forecast period.

South & Central America Flowable Hemostats Market Overview

South and Central America include Brazil, Argentina, and the Rest of South and Central America. The market for flowable Hemostats in the region is expected to grow owing to the growing adoption of flowable hemostats, increasing number of surgical procedures, and growing emphasis on blood-loss management strategies during surgical procedures. In addition, the implementation of organic strategies by major market players is also boosting the product reach and awareness in the region, leading to considerable growth the of flowable hemostats market in South and Central America. The adoption of flowable hemostats in Brazil is attributed to favorable government policies, growing emphasis on blood loss management during surgical procedures, and awareness of the benefits offered by flowable hemostats. Additionally, lucrative government policies and market potential are attracting global as well as local players to launch their products in the country. For instance, in 2015, 3D-Matrix, one of the considerable players in the hemostats market obtained product approval for its PureStat hemostat to commercialize it in the Brazil market. Furthermore, the higher number of surgical procedures are also expected to fuel the growth of Brazil flowable hemostats market. For instance, according to data published by the Ministry of Health, Brazil, the number of elective surgeries grew by an estimated 49.2% from January 2019 to September 2019. Such growth in the number of surgeries is likely to drive the growth of the hemostats market by 2028.

South & Central America Flowable Hemostats Market Segmentation

The South & Central America flowable hemostats market is segmented into material, product, application, end user, and country.

Based on material, the South & Central America flowable hemostats market is bifurcated into bovine gelatin & porcine gelatin. The bovine gelatin segment held a larger share of the South & Central America flowable hemostats market in 2022.

In terms of product, the South & Central America flowable hemostats market is segmented into combination hemostats, passive hemostats, and active hemostats. The combination hemostats segment held the largest share of the South & Central America flowable hemostats market in 2022.

Based on application, the South & Central America flowable hemostats market is categorized into general surgery, cardiac surgery, vascular surgery, orthopedic surgery, neuro and spine surgery, and others. The general surgery segment held the largest share of the South & Central America flowable hemostats market in 2022.

Based on end user, the South & Central America flowable hemostats market is segmented into hospitals and clinics, ambulatory surgery centers, and others. The hospitals and clinics segment held the largest share of the South & Central America flowable hemostats market in 2022.

By country, the South & Central America flowable hemostats market is categorized into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America flowable hemostats market in 2022.

Baxter International Inc, Ethicon (Johnson & Johnson), Pfizer Inc, Teleflex Incorporated, 3-D Matrix Medical Technology, and Aegis Lifesciences are some of the leading companies operating in the South & Central America flowable hemostats market.