Absorbable Hemostats Market Report 2024

This Absorbable Hemostats market report covers industry characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The absorbable hemostats market size has grown strongly in recent years. It will grow from $22.3 billion in 2023 to $23.59 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historic period can be attributed to advancements in surgical techniques, a rising prevalence of chronic diseases, increased demand for minimally invasive surgeries, improvements in hemostatic materials, and greater 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 anticipated growth during the forecast period can be attributed to factors such as the increasing geriatric population, a growing focus on personalized medicine, higher healthcare expenditure, expansion of healthcare infrastructure, and a rise in trauma and emergency cases. Key trends for this period include the development of multifunctional hemostatic products, the integration of smart technologies for real-time monitoring, increased use of bioengineered materials, a rise in partnerships and collaborations, and advancements in regulatory standards.

The growing number of surgical procedures is expected to drive the expansion of the absorbable hemostats market. Surgical procedures involve medical operations designed to treat, diagnose, or manage conditions by physically altering tissues or organs. The increase in surgical procedures is driven by rising demand for advanced medical treatments, an aging population, and advancements in surgical technology that facilitate more complex and minimally invasive operations. Absorbable hemostats are used during surgeries to control bleeding and promote clot formation while being gradually absorbed by the body, which reduces the need for additional interventions and minimizes postoperative complications. For example, in March 2023, the British Association of Aesthetic Plastic Surgeons reported a significant rise in cosmetic procedures, with 31,057 procedures performed in 2022, representing a 102% increase from the previous year. This increase in surgical activities contributes to the growth of the absorbable hemostats market.

Leading companies in the absorbable hemostats market are focusing on developing advanced products, such as absorbable hemostatic powders, to provide rapid and effective bleeding control during surgery. These powders are designed to control bleeding by promoting quick clot formation at the injury site and are naturally absorbed by the body after their function is complete. For instance, in July 2023, Baxter International Inc., a US-based healthcare company, introduced PERCLOT absorbable hemostatic powder. PERCLOT granules feature a unique molecular structure that rapidly absorbs water, forming a gelled adhesive matrix that acts as a mechanical barrier to stop bleeding. This matrix helps in accumulating platelets, red blood cells, and coagulation proteins like thrombin and fibrinogen, enhancing clinicians' ability to manage intraoperative bleeding more effectively. This development is crucial for reducing the need for blood transfusions, minimizing major complications, and lowering overall care costs.

In July 2021, Baxter International Inc., a US-based healthcare company, purchased specific assets related to the PerClot Polysaccharide Hemostatic System from CryoLife Inc. for $60.8 million. This acquisition is in line with Baxter's strategy to broaden its product and technology portfolio. It also enhances the company's presence in hospital environments, particularly in operating rooms. CryoLife Inc. is a US-based manufacturer specializing in absorbable hemostats.

Major companies operating in the absorbable hemostats 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.

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.

The countries covered in the absorbable hemostats market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

An absorbable hemostat is a medical device used to control bleeding during surgical procedures. It is designed to enhance blood clotting and stabilize bleeding tissues. Made from materials that can be gradually broken down and absorbed by the body, an absorbable hemostat eliminates the need for surgical removal.

The main types of absorbable hemostats include thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, gelatin-based hemostats, collagen-based hemostats, and others. Thrombin-based hemostats contain thrombin, an enzyme that aids blood clotting by converting fibrinogen into fibrin. These hemostats are used in various surgical fields, including neurosurgery, orthopedic surgery, general surgery, and reconstructive surgery, and are utilized by end-users such as hospitals, clinics, ambulatory surgical centers, and others.

The absorbable hemostats market research report is one of a series of new reports that provides absorbable hemostats market statistics, including absorbable hemostats industry global market size, regional shares, competitors with a absorbable hemostats market share, detailed absorbable hemostats market segments, market trends and opportunities, and any further data you may need to thrive in the absorbable hemostats industry. This absorbable hemostats market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The absorbable hemostats market consists of sales of fibrin sealants, hemostatic powders, absorbable sponges, hemostatic plugs and absorbable mats. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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