How Will the Hemostats Market Transform Itself into a USD 8.19 Billion Powerhouse by 2032?

Vancouver, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Emergen research is one of the pioneers in providing strategic insights for emerging and disruptive technologies which are supposed to show exponential growth in the near future., has released a report that delves deep into the dynamic landscape of the Hemostats Market.

Hemostats are medical devices used to control bleeding during surgical procedures or to promote clotting in patients with bleeding disorders. Hemostats play a crucial role in ensuring patient safety and reducing the risk of excessive bleeding during surgeries. The Hemostats Market is experiencing significant growth, driven by factors such as the increasing number of surgical procedures, rising prevalence of chronic diseases, and advancements in healthcare infrastructure.

According to a recent report by Emergen Research, the global Hemostats Market is projected to reach a market value of USD 4.44 Billion by 2022, growing at a CAGR of 6.3% during the forecast period. The report provides a comprehensive analysis of the market segmentation, including market size, share, and growth rate for each segment.

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Scope of Research

Major Companies and Competitive Landscape

The global hemostats market is fragmented, with large and medium-sized players operating in the market accounting for majority market revenue share. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective products. Some of the major companies included in the global hemostats market report are:

• Baxter International, Inc.
• Integra LifeSciences
• Marine Polymer Technologies, Inc.
• Teleflex
• Ethicon, Inc.
• Pfizer, Inc.
• Z-Medica LLC
• Gelita Medical GmbH
• Anika Therapeutics

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Strategic Development

• On 11 February 2022, Futura Surgicare Pvt. Ltd., a leader in the medical device sector, had introduced demostatic products under the name Hemostax (Oxidized Regenerated Cellulose) under a new vertical Dolphin Hemostats. Hemostax Standard is an absorbable hemostat intended to aid surgeons in more effective bleeding control.
• On 12 July 2021, Medcura, Inc., a commercial-stage medical device business, in collaboration with ASO, LLC, a significant American manufacturer and supplier of first aid supplies, announced the introduction of Rapid-Seal, a high-performance, antibacterial hemostatic gel.

What Drives the Hemostats Market?

The Hemostats Market is primarily driven by several key factors that contribute to its growth and expansion. One of the major drivers is the increasing number of surgical procedures being performed worldwide. As the global population continues to grow and age, the demand for surgical interventions, both elective and emergency, is on the rise. Hemostats play a critical role in controlling bleeding during surgeries, ensuring patient safety, and reducing the risk of complications.
Furthermore, the growing awareness among healthcare professionals about the benefits of using hemostats has positively influenced market growth. Surgeons and other medical practitioners are increasingly recognizing the importance of effective hemostasis in improving surgical outcomes and patient recovery. This awareness has led to a higher demand for hemostatic products and increased adoption in various healthcare settings.
Additionally, the rising geriatric population, which is more prone to chronic diseases and surgical interventions, is driving the demand for hemostats. As the elderly population continues to grow, the need for surgical procedures and hemostatic products is expected to increase significantly.

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What Challenges Constrain the Hemostats Market?

While the Hemostats Market is experiencing significant growth, there are several challenges that constrain its expansion. One of the key challenges is the stringent regulatory requirements imposed on hemostatic products. Hemostats are considered medical devices and are subject to rigorous regulatory scrutiny to ensure their safety and efficacy.

Another challenge is the high cost associated with advanced hemostatic products. These products often incorporate innovative technologies and materials, which can drive up their manufacturing and procurement costs. The high cost of hemostats may limit their accessibility, particularly in resource-constrained healthcare settings or regions with limited healthcare budgets. This can impede market growth, especially in developing economies.

Furthermore, the presence of alternative hemostatic methods and products poses a challenge to the Hemostats Market. While hemostats are widely used and effective, there are other techniques available for achieving hemostasis, such as sutures, staples, and energy-based devices. The availability and preference for these alternatives may limit the adoption of hemostats in certain surgical procedures, impacting market growth.

Additionally, the lack of awareness and training among healthcare professionals regarding the proper use and selection of hemostatic products can be a constraint. Inadequate knowledge about the different types of hemostats, their indications, and appropriate usage may lead to suboptimal outcomes or misuse of these products. Therefore, education and training programs for healthcare professionals are crucial to ensure the effective utilization of hemostats and promote their adoption.

Unveiling Geographic Patterns in the Hemostats Market

The Hemostats Market exhibits distinct geographic patterns that influence its dynamics and growth. North America holds a significant share in the global market, primarily driven by factors such as well-established healthcare infrastructure, high healthcare expenditure, and a large patient pool. The region's advanced healthcare facilities and the presence of key market players contribute to the adoption of hemostatic products.

Europe is another prominent region in the Hemostats Market, characterized by a strong emphasis on healthcare quality and patient safety. The region's well-developed healthcare systems, favorable reimbursement policies, and high awareness among healthcare professionals contribute to the adoption of hemostatic products.

The Asia Pacific region is expected to witness significant growth in the Hemostats Market. Factors such as increasing healthcare expenditure, rising awareness about advanced surgical techniques, and the growing demand for hemostatic products in emerging economies like China and India contribute to the region's growth.

Latin America and the Middle East & Africa regions are also witnessing growth in the Hemostats Market. These regions are characterized by improving healthcare infrastructure, increasing investments in healthcare, and a growing focus on enhancing surgical outcomes. The rising prevalence of chronic diseases and the need for surgical interventions in these regions contribute to the demand for hemostatic products.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global hemostats market on the basis of product type, application, and region:

• Product Type Outlook (Revenue, USD Billion; 2019-2032)

• • Thrombin Based
  • Combination
  • Others

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Cardiovascular Disorders
  • Neurological Disorders
  • Others

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

Closing Statement

Hemostats Market is poised for substantial growth in the coming years. Factors such as the increasing number of surgical procedures, rising prevalence of chronic diseases, advancements in healthcare infrastructure and technology, and growing awareness among healthcare professionals are driving the market's expansion.

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