Absorbable Hemostats Market Opportunities and Strategies to 2034

This report describes and explains the absorbable hemostats market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global absorbable hemostats market reached a value of nearly $3.14 billion in 2024, having grown at a compound annual growth rate (CAGR) of 5.90% since 2019. The market is expected to grow from $3.14 billion in 2024 to $4.59 billion in 2029 at a rate of 7.87%. The market is then expected to grow at a CAGR of 7.91% from 2029 and reach $6.71 billion in 2034.

Growth in the historic period resulted from the rising surgical procedures, rising incidence of trauma and accidental injuries, increasing focus on blood loss management and rising healthcare expenditure. Factors that negatively affected growth in the historic period were high cost of hemostatic agents and high competition from non-absorbable alternatives.

Going forward, growing prevalence of chronic diseases, growing aging population and surge in orthopedic surgeries will drive the growth. Factor that could hinder the growth of the absorbable hemostats market in the future include supply chain disruptions and declining macroeconomic conditions.

The global absorbable hemostats market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 21.53% of the total market in 2023. Johnson & Johnson was the largest competitor with a 6.93% share of the market, followed by Baxter International Inc. with 6.90%, Becton, Dickinson and Company (C. R. Bard, Inc.) with 2.57%, Gelita AG with 1.57%, Samyang Holdings Corporation with 0.92%, Integra LifeSciences with 0.91%, B. Braun SE with 0.90%, Artivion Inc. (CryoLife Inc.) with 0.41%, Pfizer Inc. with 0.22% and Stryker Corporation with 0.20%.

The absorbable hemostats market is segmented by type into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, gelatin-based hemostats, collagen-based hemostats and other types. The gelatin-based hemostats market was the largest segment of the absorbable hemostats market segmented by type, accounting for 36.45% or $1.14 billion of the total in 2024. Going forward, the oxidized regenerated cellulose-based hemostats segment is expected to be the fastest growing segment in the absorbable hemostats market segmented by type, at a CAGR of 8.94% during 2024-2029.

The absorbable hemostats market is segmented by application into neurosurgery, orthopedic surgery, general surgery, reconstructive surgery and other applications. The general surgery market was the largest segment of the absorbable hemostats market segmented by application, accounting for 31.37% or $986.42 million of the total in 2024. Going forward, the orthopedic surgery segment is expected to be the fastest growing segment in the absorbable hemostats market segmented by application, at a CAGR of 9.11% during 2024-2029.

The absorbable hemostats market is segmented by end-user into hospitals and clinics, ambulatory surgical centers and other end-users. The hospitals and clinics market was the largest segment of the absorbable hemostats market segmented by end-user, accounting for 66.31% or $2.08 billion of the total in 2024. Going forward, the ambulatory surgical centers segment is expected to be the fastest growing segment in the absorbable hemostats market segmented by end-user, at a CAGR of 9.91% during 2024-2029.

North America was the largest region in the absorbable hemostats market, accounting for 39.64% or $1.24 billion of the total in 2024. It was followed by Western Europe, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the absorbable hemostats market will be Asia-Pacific and Eastern Europe where growth will be at CAGRs of 8.58% and 8.51% respectively. These will be followed by South America and Middle East where the markets are expected to grow at CAGRs of 8.41% and 8.18% respectively.

The top opportunities in the absorbable hemostats market segmented by type will arise in the gelatin-based hemostats segment, which will gain $477.75 million of global annual sales by 2029. The top opportunities in the absorbable hemostats market segmented by application will arise in the general surgery segment, which will gain $427.22 million of global annual sales by 2029. The top opportunities in the absorbable hemostats market segmented by end-user will arise in the hospitals and clinics segment, which will gain $888.35 million of global annual sales by 2029. The absorbable hemostats market size will gain the most in the USA at $479.43 million.

Market-trend-based strategies for the absorbable hemostats market include innovations in absorbable hemostats with focus on plant-based cellulose matrix solutions, investment in hemostatic product development, advancements with biocompatible modified polymer technology for minimally invasive procedures, driving surgical efficiency and safety with absorbable hemostatic powders and Advanced Sealing Patch For Effective Bleeding Control.

Player-adopted strategies in the absorbable hemostats market include focus on strengthening their business expertise through new launches and improving its portfolio through the launch of product developments.

To take advantage of the opportunities, the analyst recommends the absorbable hemostats companies to focus on advancing biocompatible, sustainable hemostats, focus on leveraging private placement funding for innovation, focus on advancing biocompatible materials for minimally invasive procedures, focus on technological advancements in hemostatic powders, focus on advancing sealing patch technologies for rapid bleeding control, focus on developing bio adhesive hemostats with innovative materials, focus on thrombin-based hemostats to drive growth, expand in emerging markets, focus on expanding distribution channels for greater market reach, focus on developing competitive and flexible pricing strategies, focus on targeted marketing and educational campaigns, focus on collaborating with key opinion leaders and influencers, focus on orthopedic surgery to drive market growth and focus on hospitals and clinics to maximize growth.

Major Market Trends

• Innovations in Absorbable Hemostats With Focus on Plant-Based Cellulose Matrix Solutions
• Investment in Hemostatic Product Development
• Advancements With Biocompatible Modified Polymer Technology for Minimally Invasive Procedures
• Driving Surgical Efficiency and Safety With Absorbable Hemostatic Powders
• Advanced Sealing Patch for Effective Bleeding Control
• Hemostatic Solutions for Critical Surgical Situations

Key Mergers and Acquisitions

• Advanced Medical Solutions Group PLC Acquired Peters Surgical
• Tube Investments of India Limited Acquired Lotus Surgicals Pvt Ltd.
• Warburg Pincus LLC Acquired Meril Life Sciences
• Ethicon Inc., Acquired GATT Technologies B.V.
• Baxter International Inc. Acquired CryoLife Inc
• Grifols S.a. Acquired Biotest AG