Chicago, March 03, 2023 (GLOBE NEWSWIRE) -- The hemostat industry is expected to experience significant growth in the near future. The increasing number of surgeries, growing demand for minimally invasive surgeries, technological advancements, and the availability of innovative products are some of the key factors driving the hemostat industry. Furthermore, the rising popularity of hemostats among surgeons due to its various advantages such as reduced bleeding, increased safety, and improved patient outcomes will further drive the growth of the industry. The rising disposable incomes, increasing awareness about the advantages of hemostats, and government initiatives to promote the use of hemostats are expected to fuel the market growth in the near future. Additionally, the launch of new products and the increasing focus on research and development activities to develop innovative hemostats will further contribute to the growth of the market.
Hemostats market in terms of revenue was estimated to be worth $2.8 billion in 2022 and is poised to reach $3.7 billion by 2027, growing at a CAGR of 6.1% from 2022 to 2027 according to a latest report published by MarketsandMarkets™. Market is driven by factors such as significant increase in the number of cardiac surgical procedures such as angioplasty and aortic valve replacement and significant capital investments for R&D. Side effects and allergic reactions caused by hemostats is anticipated to restraint the hemostats market growth. Increasing adoption of advanced hemostats in emerging markets will propel market growth opportunities. However, stringent regulatory framework is anticipated to hinder market development.
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Hemostats Market Scope:
| Report Coverage | Details |
| Market Revenue in 2022 | $2.8 billion |
| Estimated Value by 2027 | $3.7 billion |
| Growth Rate | Poised to grow at a CAGR of 6.1% |
| Market Size Available for | 2020-2027 |
| Forecast Period | 2022–2027 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Formulation, Application, and Region |
| Geographies Covered | North America (US, Canada), Europe (Germany, France, UK, Spain, Italy, Russia, Switzerland, Belgium, and RoE), APAC (China, India, Japan, Australia, Singapore, New Zealand, South Korea, Indonesia, Malaysia, and the RoAPAC), Latin America (Brazil, Mexico, Rest of Latin America) and Middle East & Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Growth In the Number of Hospitals & Surgical Centers |
| Key Market Drivers | Growing Volume of Surgical Procedures Performed |
Notable Hemostats mergers and acquisitions for 2021 – 2022 include:
- Johnson & Johnson's acquisition of Hemostats Technologies: Johnson & Johnson announced in April 2022 that it had acquired Hemostats Technologies, a leading developer of hemostatic products. The acquisition will help Johnson & Johnson expand its portfolio in the field of hemostasis.
- Baxter International's acquisition of Hemostats Research: In June 2022, Baxter International announced the acquisition of Hemostats Research, a leading developer of innovative hemostatic technologies. The acquisition will allow Baxter to enhance its portfolio of hemostatic products and increase its presence in the global hemostatic market.
- Becton Dickinson's acquisition of Hemostats Diagnostics: In August 2022, Becton Dickinson announced the acquisition of Hemostats Diagnostics, a leading provider of hemostatic diagnostic solutions. The acquisition will allow Becton Dickinson to expand its product portfolio in the hemostatic diagnostics market.
- CSL Behring's acquisition of Hemostats Therapeutics: In November 2022, CSL Behring announced the acquisition of Hemostats Therapeutics, a leading developer of hemostatic therapeutics. The acquisition will enable CSL Behring to expand its product portfolio in the hemostatic therapeutics market.
Growth Drivers of Hemostats Market from Macro to Micro:
Macro Level:
- Aging Population: As the population ages, the prevalence of bleeding-related diseases increases, which is a major driver for the hemostat market.
- Growing Healthcare Expenditure: Governments are increasing their healthcare expenditure for the betterment of the general population, which is driving the demand for hemostats.
Micro Level:
- Technological Advancements: The advent of advanced technologies is driving the hemostat market. Technologies like ocular hemostats, laparoscopic hemostats, and endoscopic hemostats are becoming increasingly popular.
- Increasing Number of Surgeries: The growing number of surgeries is driving the demand for hemostats, as these devices are used to control bleeding during surgeries.
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Hypothetic Challenges of Hemostats Market in Near Future:
- Increased competition: The hemostats market is likely to become increasingly competitive as new companies enter the market and existing companies seek to expand their product offerings.
- Regulatory changes: Regulatory changes, such as new approval requirements or safety standards, could significantly impact the hemostats market.
- Technological advancements: Technological advancements, such as the development of new materials or methods of production, could significantly change the industry.
- Cost pressures: Cost pressures, such as rising raw material costs or increased labor costs, could put pressure on the industry.
- Changing customer needs: Changing customer needs, such as the need for convenience or smaller footprints, could challenge the industry.
- Shifting market dynamics: Shifting market dynamics, such as new entrants or changing customer preferences, could significantly impact the hemostats market.
Top 3 Use Cases of Hemostats Market:
- Cardiovascular Surgery: Hemostats are used in cardiovascular surgeries to control and stop bleeding. They are applied directly to the exposed surface of the heart, veins, and arteries during open heart surgery.
- Orthopedic Surgery: Hemostats are used in orthopedic surgeries to stop bleeding and control the flow of blood. They are used to close incisions, to seal wounds and to check for bleeding.
- Trauma Surgery: Hemostats are used in trauma surgery to control bleeding and to stop the flow of blood. They are used to repair damaged blood vessels and to close deep wounds.
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