Pune India, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Hemostat market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Hemostat market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as Product, Formulation, Application, End-use, and Region. The key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the paragraphs below.
The significant players operating in the global Hemostat market are Integra LifeSciences Corporation, Baxter AG, Medtronic plc, Stryker Inc, Becton Dickinson and Company, Biom up Innovative Surgery, CryoLife Inc, Hemostatis LLC, Johnson & Johnson, Pfizer, C R Bard, B Braun, Covidien, Advance Medical Solutions Group, Smith & Nephew among other. To achieve a substantial market share in the worldwide Hemostat market and strengthen their position, manufacturers are expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Hemostat has continued to be in high demand in recent years, and it is anticipated that this trend will continue over the forecasted period. New, cutting-edge hemostat products are being introduced with increasing frequency on a global scale. Vendors around the world rely on organic development strategies to successfully satisfy end-user demands and needs. As a result, R&D currently accounts for a sizeable share of their capital spending. The top brands in this sector are well-known, long-standing, and have high levels of brand loyalty. New entrants in this market must compete with established players and set themselves apart with distinctive product offerings. It is projected that the high level of consolidation would restrict investments and the market's potential for growth by posing a large barrier to entry for new competitors. There are more hospitals and surgical facilities worldwide, in both developed and developing countries. Newly opened surgical centers and hospitals have a high need for surgical supplies, particularly tools like hemostats, due to the increasing patient population.
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Scope of Hemostat Market Report
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Product, Formulation, Application, End-use, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Integra LifeSciences Corporation, Baxter AG, Medtronic plc, Stryker Inc, Becton Dickinson and Company, Biom up Innovative Surgery, CryoLife Inc, Hemostatis LLC, Johnson & Johnson, Pfizer, C R Bard, B Braun, Covidien, Advance Medical Solutions Group, Smith & Nephew among other. |
Segmentation Analysis
The Thrombin-Based Hemostats segment is expected to be the fastest-growing segment in 2022.
The product segment is Thrombin-Based Hemostats, Oxidized Regenerated Cellulose-Based Hemostats, Collagen-Based Hemostats, and Polysaccharide Hemostats. The Thrombin-Based Hemostats segment is expected to be the fastest-growing segment in 2022. Thrombin-based Within the product category, thermostats have the greatest shares. It is created when intrinsic and extrinsic coagulation pathways are activated. The primary reason for the increasing share is the enormous number of advantages associated with its use.
The Matrix & Gel Hemostats segment is expected to be the fastest-growing segment in 2022.
The Formulation segment is Matrix & Gel Hemostats, Sheet & Pad Hemostats, Sponge Hemostats, and Powder Hemostats. The Matrix & Gel Hemostats segment is expected to be the fastest-growing segment in 2022. When controlling bleeding using conventional approaches, the use of Matrix & Gel Hemostatic medicines is challenging. The hemostatic powder's main function during surgical procedures is to control bleeding across large areas.
The Orthopedic Surgery segment is expected to be the fastest-growing segment in 2022.
The application segment is Orthopedic Surgery, General Surgery, Neurological Surgery, Cardiovascular Surgery, Gynecological Surgery, and Others. The Orthopedic Surgery segment is expected to be the fastest-growing segment in 2022. The growth in orthopedic surgeries performed globally, which will propel a market expansion, is primarily driven by the expanding senior population, rising sports injury rates, and rising rates of lifestyle problems (such as obesity, osteoporosis, and arthritis).
The Hospitals segment is expected to be the fastest-growing segment in 2022.
The End-use segment is Clinics, Hospitals, Ambulatory Centres, and Others. The Hospitals segment is expected to be the fastest-growing segment in 2022. It is anticipated that there would be an increase in the incidence of chronic illnesses and that an increasing number of older individuals will seek medical attention in hospitals for a range of ailments. Additionally, it is anticipated that growing public awareness of the need for better diagnostic tools and the availability of potential alternative therapies would encourage the hemostats industry to grow.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the Hemostat include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
- The Asia Pacific region witnessed a major share. The hemostats market in Asia Pacific is anticipated to grow quickly over the mentioned forecast period. The need for improved healthcare facilities is growing as the medical tourism industry prospers, and disposable income increases, providing consumers with more purchasing power. The Asia Pacific area is likely to have lucrative growth for the duration of the anticipated period due to a rise in surgical and medical tourism.
Country Analysis
- Germany
Germany's Hemostat market size was valued at USD 0.046 billion in 2022 and is expected to reach USD 0.060 billion by 2030, at a CAGR of 3.5% from 2023 to 2030. Germany was expected to hold a substantial part of the global market during the forecast period due to its continually growing economy.
- China
China’s Hemostat market size was valued at USD 0.036 billion in 2022 and is expected to reach USD 0.045 billion by 2030, at a CAGR of 3% from 2023 to 2030. China is anticipated to supply the bulk of thermostats. Government policies that are supportive, improved access to healthcare, the availability of inpatient and outpatient therapy for chronic illnesses, and a rise in surgical procedures are the primary factors driving the Hemostat market expansion in China.
- India
India's Hemostat market size was valued at USD 0.030 billion in 2022 and is expected to reach USD 0.036 billion by 2030, at a CAGR of 2.5% from 2023 to 2030. The healthcare industry in India is anticipated to be the main driver of hemostat demand during the projected period. It is also projected that the growing geriatric population in India would promote market development.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of this market is mainly driven by the rising use of hemostat products among surgeons and medical professionals.
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