Allied Market Research released a report on the hemostats market, which provides industry dynamics, including growth drivers, opportunities, and challenges. This report further offers regional analysis and a competitive landscape of the domain. The sector is projected to exhibit growth at a compound annual growth rate of 5.3% from 2022 to 2031. It was valued at $2.8 billion in 2021 and is anticipated to reach $4.7 billion by 2031.
Rise in number of surgeries is the major factor that boosts the growth of the hemostats sector. In addition, an increase in different types of cancer that need surgical treatment and advancements in hemostat products foster industry growth.
Hemostats are used to shorten the duration of surgery as they help reduce the need for blood transfusion. This helps control the bleeding caused during a surgical procedure. Hemostatic agents are useful in compressing blood vessels and preventing the flow of blood. They also help with reduction in duration of healing of wound healing and operation time.
Important questions
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What are the key factors driving the growth of this industry?
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Which companies are the leading players in the domain?
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What is the total market value of the hemostats industry report?
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What are the factors that restrain the growth of the sector?
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What is the dominant segment based on application?
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Which is the largest regional market for hemostats?
Region-wise, North America dominated the hemostats industry in 2021 due to advancements in healthcare infrastructure and presence of major key players that offer hemostats and invest in R&D in the sector to introduce advanced products for its end users. The region is anticipated to experience growth in the upcoming years as well. The Asia-Pacific region is also anticipated to witness growth, attributed to rise in number of surgical procedures in the region. Further, surge in healthcare expenditure in the emerging economies is also anticipated to offer lucrative growth opportunities for the hemostats sector across the region.
List of key players
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Integra Life Sciences Holding Corporation
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Becton Dickinson and Company
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Hemostatis LLC, Pfizer Inc.
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B.Braun Melsungen AG
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Stryker Corporation
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Baxter International Inc.
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Johnson and Johnson
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Teleflex Incorporated
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Medtronic Plc
Key developments in the hemostats sector
New product approvals and launches by key players boost the demand for hemostats among its end users. There is an increase in focus on usage of chitosan-based agents and absorbable synthetic polymers, which help control severe bleeding. For instance, Axio Biosolutions received FDA clearance for Ax-Surgi. This is the first chitosan-based hemostat which helps control cases of severe bleeding. There is also a surge in the usage of biopolymer bases gel and combination products, which combines agents to offer dual hemostasis and sealing effects. For instance, Medcura introduced LifeGel, which helps with spinal surgery.
Modern hemostats with integrated antibacterial properties are also being introduced. These hemostats aid in the prevention of post-operative infections and are thus majorly used in case of spinal and brain surgeries. In addition, there is also an increase in the R&D of modern hemostats to help improve the existing products. Major players such as Medtronic and CSL Behring are focusing on R&D in the hemostats sector to introduce new solutions.
To sum up
The AMR report offers a detailed study of the industry, including a comprehensive competitive landscape. It further highlights emerging trends, key growth drivers, and potential opportunities that empower industry leaders and stakeholders to make informed strategic decisions. The report serves as a valuable resource for understanding changes in the domain, mitigating risks, and supporting long-term business growth in an increasingly competitive environment by offering in-depth insights.
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