Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Hemostasis And Tissue Sealing Agents Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global demand for hemostasis and tissue sealing agents is witnessing unprecedented growth, with a forecast projecting the market to amplify from USD 8.04 billion in 2023 to an impressive USD 20.71 billion by 2034, at a CAGR of 8.98% during the period from 2024 to 2034. This notable expansion is attributed to a suite of factors including a rise in surgical interventions, an aging population, and the escalating incidence of chronic diseases.
Technological Innovations Propel Market Developments
A surge in the introduction of advanced tissue sealing devices is set to significantly propel market growth throughout the forecast period. Adopting hemostats and sealants, which provide a means to cease bleeding and manage hemorrhaging from injuries and surgeries, is increasingly favored over traditional wound closure methods, particularly in endoscopic procedures.
Product Advancements Lead to Market Dominance
Market analysis highlights that the topical hemostat segment led revenue figures in 2023 due to its cost-effectiveness and minimal tissue reactivity when used alongside conventional treatments. However, adhesive & tissue sealant is projected to witness the fastest CAGR, fueled by swift procedural times, reduced invasiveness, and enhanced protection from post-surgical infections.
Diverse Applications Across Surgical Fields
According to the market forecast, general surgery maintained the highest revenue within the application segment in 2023, driven by an increasing number of heart surgeries and strategic industry movements such as mergers and acquisitions.
However, the field of minimally invasive surgery is set to experience the fastest growth rate, attributed to the ongoing demand for these surgical approaches that offer quicker recoveries and shorter hospital stays.
Hospitals as Primary End-Users Bolster Market Progress
Hospitals were identified as the primary end-users in 2023, accounting for the highest market revenue, thanks to the comprehensive resources needed for advanced surgical methods. Nonetheless, ambulatory centers are anticipated to grow expeditiously due to the heightened need for efficient surgical treatments in various settings, including military conflicts.
Regional Insights and Future Expectations
North America stands at the forefront of the regional market share, bolstered by a demographic with rising occurrences of cardiovascular diseases and cancers. Innovations like the CRYOcheck Chromogenic Factor IX assay amplify the region's market standing. Comparatively, Asia Pacific is expected to grow robustly due to factors such as medical tourism and evolving healthcare infrastructures.
Essential Market Segmentation in the Forecast Period
- Hemostasis and Tissue Sealing Agents Market Analysis & Forecast by Product: The study provides deep insights into sub-segments like adhesive & tissue sealants, topical hemostats, and adhesion barriers.
- Hemostasis and Tissue Sealing Agents Market Analysis & Forecast by Application: It carefully examines the usage in minimally invasive surgeries, general surgeries, and other procedures.
- Hemostasis and Tissue Sealing Agents Market Analysis & Forecast by End-user: A detailed investigation into hospitals and ambulatory centers as prime market contributors.
- Hemostasis and Tissue Sealing Agents Market Analysis & Forecast by Region: A geographic breakdown covering North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
This comprehensive market analysis underscores the transformative dynamics of the hemostasis and tissue sealing agents industry, emphasizing the potential growth trajectories and opportunities that market participants may harness in the coming decade.
As surgical procedures become more advanced and prevalent, the industry is set to witness a significant evolution bolstered by innovation and increasing healthcare needs.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value (USD) in 2023 | $8.04 Billion |
| Forecasted Market Value (USD) by 2034 | $20.71 Billion |
| Compound Annual Growth Rate | 8.9% |
| Regions Covered | Global |
Report Segmentation
By Product
- Adhesive & Tissue Sealant
- Natural Tissue Sealant
- Synthetic Tissue Sealant
- Adhesion Barrier Products
- Topical Hemostat
- Mechanical
- Flowable
- Active
By Application
- Minimally Invasive Surgery
- General Surgery
- Others
By End-user
- Hospitals
- Ambulatory Centers
Companies Profiled
- Advance Medical Solutions Group
- Artivion Inc
- Smith & Nephew
- B Braun
- C R Bard
- Johnson & Johnson
- Pfizer
- Covidien
For more information about this report visit https://www.researchandmarkets.com/r/4goqj0
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