How big is the hemostat market?
The global hemostats market was valued at $2.8 billion in 2021, and is projected to reach $4.7 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.
The global Hemostats Market report summarizes market developments, competitor analysis, and future market and technological predictions. The report also assists the major market players in increasing their market share and maintaining their competitive position in the sector. It does this by highlighting the global Hemostats Market from 2023 to 2031.
Additionally, it offers a qualitative analysis of a range of factors, such as the strategies employed by significant rivals, implicit possibilities, immediate impact on market size, regulatory framework, and economic influence. Significant investments are also included in the market research, on which stakeholders can base their CAGR and relative Hemostats Market.
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COVID-19 scenario:
- The Covid-19 outbreak led to the postponement and cancellation of all non-essential medical procedures, thereby negatively impacting a huge number of healthcare systems globally.
- Decrease in number of surgical procedures hindered the growth of the hemostats market.
Research Methodology
The research operandi of the global Hemostats market includes significant primary as well as secondary research. When the primary methodology encompasses widespread discussion with a plethora of valued participants, the secondary research involves a substantial amount of product/service descriptions. Furthermore, several government sites, industry bulletins, and press releases have also been properly examined to bring forth high-value industry insights.
Key Market Segments:
Product Type:
- Thrombin-Based Hemostats: Products containing thrombin, a protein that plays a key role in the blood clotting process.
- Oxidized Regenerated Cellulose-Based Hemostats: Hemostats made from oxidized regenerated cellulose, which helps promote clotting.
- Gelatin-Based Hemostats: Hemostatic agents containing gelatin, which helps in local hemostasis.
- Combination Hemostats: Products that combine different materials to enhance hemostatic efficacy.
Application:
- General Surgery: Hemostats used in various types of general surgical procedures.
- Cardiovascular Surgery: Hemostatic agents specific to cardiac surgeries.
- Orthopedic Surgery: Hemostats used in orthopedic procedures.
- Neurosurgery: Hemostats designed for neurosurgical applications.
- Gynecological Surgery: Hemostatic agents used in gynecological procedures.
End User:
- Hospitals: Hemostats used in hospital settings during surgical procedures.
- Ambulatory Surgical Centers: Hemostatic agents used in outpatient surgical centers.
- Specialty Clinics: Hemostats used in specialized medical clinics.
Form:
- Sponges: Hemostats available in sponge form, often used for applying pressure and aiding in clotting.
- Powders: Hemostatic powders that can be applied directly to bleeding surfaces.
- Sprays: Hemostatic sprays that can be applied as a mist to bleeding sites.
Geographic Region:
- North America: Including the United States and Canada.
- Europe: Encompassing countries in Western Europe, Eastern Europe, and other regions.
- Asia-Pacific: Including countries like India, China, Japan, and others.
- Latin America: Covering countries in Central and South America.
- Middle East and Africa: Encompassing countries in the Middle East and the African continent.
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Key findings of the study
Depending on type, the thrombin-based hemostats segment held largest market share in 2021, and is expected to remain dominant throughout the forecast period.
By formulation, the matrix & gel hemostats dominated the global market in 2021, and is anticipated to continue this trend during the forecast period.
On the basis of application, the orthopedic surgery acquired the highest position in the global market, and is anticipated to continue this trend during the forecast period.
Region wise, North America is expected to experience notable growth, registering a CAGR of 4.3% during the forecast period.
Regional Growth Dynamics
North America contributed to more than two-fifths of the total market share in 2021 and is estimated to continue its dominancy through 2031. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.1% during the forecast period. The other regions analyzed in the report are Europe and LAMEA.
Competitive Landscape
Leading players of the global hemostats market analyzed in the research include Baxter International Inc., B.Braun Melsungen AG, Becton Dickinson and Company, Hemostatis LLC, Integra Life Sciences Holding Corporation, Johnson and Johnson, Medtronic Plc, Pfizer Inc., Stryker Corporation, and Teleflex Incorporated.
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