CAGR: 3.5%Current Market Size: USD 3.2 BillionFastest Growing Region: North America
Largest Market: APACProjection Time: 2023-2030Base Year: 2022
The global Hemostat market is expected to grow from USD 3.2 billion in 2022 to USD 4.21 billion thousand by 2030, at a CAGR of 3.5% during the Projection period 2023-2030. The growth of this market is mainly driven by the rising use of hemostat products among surgeons and medical professionals.
Hemostats are devices that constrict blood arteries and stop the flow of fluids like blood. To control bleeding, they are typically used in conjunction with surgical operations. Hemostatic drugs have a number of advantages, such as faster healing of wounds and shorter recovery times for patients. They also improve the treatment of patients who are anticoagulated. The market offers a large variety of surgical hemostatic agents that differ greatly in their composition, price, immunogenicity, mode of action, application, and adherence. Additionally, hemostats are medical devices that manage bleeding during surgery. Hemostats are used for surgical bleeding, bone hemorrhage, needle-hole bleeding, and gushing venous-type bleeds. Hemostats provide a number of advantages, including a lower risk of infection, shorter operating times, and fewer consequences from heavy bleeding. Additionally, it is essential for achieving hemostasis in pre-hospital settings in order to avoid hemorrhage-related deaths. In hospitals, surgical centers, and nursing stations, they are often used. Both military and non-military industries often use hemostatic chemicals. However, due to a lack of understanding, there is little acceptability among medical professionals and healthcare workers. Therefore, increasing awareness among influential groups, such as medical professionals, may present a potential for the hemostat market in India to expand in the near future.
Sample Request: - Global Hemostat Market
Market Dynamics:
Drivers:
The demand for Hemostat has remained strong in recent years, and the Projection period is likely to see continued growth along the same path. Globally, there has been a noticeable increase in the introduction of innovative and cutting-edge hemostat products. Globally, vendors rely on organic growth methods to effectively meet end-user wants and requirements. As a result, a considerable portion of their capital investments are now going toward R&D. This is a significant trend in the industry since it shows how quickly end customers accept new goods with great efficacy and success rates. Launching new items and making improvements to existing ones have therefore become crucial methods for gaining a competitive edge in this industry.
Restraints:
The leading brands in this industry are well-known, established, and have a lot of brand loyalty. New entrants in this sector must compete with current competitors and differentiate themselves with unique product offers. The high level of consolidation creates a significant barrier to entry for new players and is predicted to limit investments and the market's potential for development. Additionally deterring potential new competitors from joining this industry are the high capital investment requirements as well as the high costs associated with production and R&D.
Opportunities:
Both in developed and developing nations, there are more hospitals and surgical facilities. Due to the growing patient population, surgical centers and hospitals that have recently opened have a significant need for surgical equipment, including medical devices like hemostats. Since hospitals and surgical facilities are the primary end users of hemostats, the considerable increase in their numbers is expected to drive the growth of the hemostats market.
Challenges:
Hemostats should only be handled by trained specialists since poor artery closure during surgery might result in ongoing bleeding or ischemia. Even utilizing certain devices requires a number of sequential steps. One of the key challenges limiting the use of these devices is the scarcity of qualified surgeons in both developed and emerging nations.
Segmentation Analysis:
The global Hemostat market has been segmented based on Product, Formulation, Application, End-use, and Region.
By Product
The product segment is Thrombin-Based Hemostats, Oxidized Regenerated Cellulose-Based Hemostats, Collagen-Based Hemostats, and Polysaccharide Hemostats. The Thrombin-Based Hemostats segment led the largest share of the Hemostat market with a market share of around 25% in 2022. Thrombin-based Hemostats are the largest stockholder within the product segment. An enzyme called thrombin plays a part in cell signaling, inflammation, and hemostasis. It is produced from prothrombin and contributes to the formation of the fibrin clot while encouraging the conversion of fibrinogen into fibrin. It is produced as a result of the activation of intrinsic and extrinsic coagulation pathways. A huge number of benefits connected with its use are the main cause of the higher share.
By Formulation
The Formulation segment is Matrix & Gel Hemostats, Sheet & Pad Hemostats, Sponge Hemostats, and Powder Hemostats. Matrix & Gel Hemostats led the largest share of the Hemostat market with a market share of around 38% in 2022. Matrix & Gel Hemostats held the largest market share over the course of the Projection period. The use of Matrix & Gel Hemostatic drugs used for surgical procedures when controlling bleeding with standard techniques is problematic. Sponge hemostats are used for applications connected to bleeding surfaces, while Hemostats Pads and Sheets are multilayered sheets made to reduce surgical-associated bleeding. The goal of the hemostatic powder is to stop leaky blood across wide regions during surgical operations.
By Application
The application segment is Orthopedic Surgery, General Surgery, Neurological Surgery, Cardiovascular Surgery, Gynecological Surgery, and Others. Orthopedic Surgery led the largest share of the Hemostat market with a market share of around 18% in 2022. The growing senior population, rising sports injury rates, and rising rates of lifestyle conditions (such as obesity, osteoporosis, and arthritis) are some of the main drivers of the increase in orthopedic procedures conducted globally, which will spur market expansion.
By End-use
The End-use segment is Clinics, Hospitals, Ambulatory Centres, and Others. Hospitals led the largest share of the Hemostat market with a market share of around 40% in 2022. The prevalence of chronic illnesses is expected to rise, and a rising number of elderly people are expected to visit hospitals for a variety of medical conditions. A sizable portion of the worldwide hemostats market is made up of clinics, which is next to the hospital segment. Additionally, increasing public awareness of the need for better diagnostic techniques and the availability of alternative possible treatments is predicted to support the expansion of the hemostats market.
Global Hemostat market- Sales Analysis.
The sale of Hemostat market products and applications expanded at a CAGR of 2.5% from 2016 to 2022.
Economic factors including an increase in disposable income and the availability of medical reimbursement schemes are expected to drive market expansion in the nation. The hemostat market in India is expanding as more surgeons switch from old to new conventional procedures for blood clotting.
An additional opportunity for product innovation is provided by decreasing R&D expenses. This provides things that have been created and advanced technologically and have better characteristics.
Some of its benefits include enhanced visibility, minimally invasive application, prevention of non-blood fluid leakage, shorter operating times, prevention of non-blood fluid leakage, and shorter post-operative recovery times. Hospital stays and overall medical costs are considerably reduced by adhesion prevention and tissue adhesive solutions.
Thus, owing to the aforementioned factors, the global Hemostat market is expected to grow at a CAGR of 3.5% during the Projection period from 2022 to 2030.
By Regional Analysis:
The regions analyzed for the Hemostat market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific region dominated the Hemostat market and held a 42% share of the market revenue in 2022.
Global Hemostat Market- Country Analysis:
Germany's Hemostat market size was valued at USD 0.046 billion in 2022 and is expected to reach USD 0.060 billion by 2030, at a CAGR of 3.5% from 2023 to 2030. In Germany due to the consistently expanding economy, it projected a sizable share in the worldwide market throughout the projection period. Additionally, the growing popularity of promoting superior healthcare is credited with increasing the market for hemostats in Germany.
China’s Hemostat market size was valued at USD 0.036 billion in 2022 and is expected to reach USD 0.045 billion by 2030, at a CAGR of 3% from 2023 to 2030. The majority of thermostats are expected to come from China. The main drivers of the Hemostat market expansion in China are supportive government policies, increased access to healthcare, the availability of inpatient and outpatient treatment for chronic conditions, and the growing number of surgical operations.
India's Hemostat market size was valued at USD 0.030 billion in 2022 and is expected to reach USD 0.036 billion by 2030, at a CAGR of 2.5% from 2023 to 2030. During the Projection period, Hemostat demand is expected to be driven by India's hospital sector. The increased elderly population is also anticipated to support market expansion in India. In major cities like Bangalore and Delhi, doctors and surgeons use homeostat products like sponges, gauzes, strips, film, and other materials for performing various procedures.
Key Industry Players Analysis:
To increase their market position in the global Hemostat market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
3.5% |
Market Size |
3.2 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product, By Formulation, By Application, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Integra LifeSciences Corporation, Baxter AG, Medtronic plc, Stryker Inc, Becton Dickinson and Company, Biom up Innovative Surgery, CryoLife Inc, Hemostatis LLC, Johnson & Johnson, Pfizer, C R Bard, B Braun, Covidien, Advance Medical Solutions Group, and Smith & Nephew. |
By Product |
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By Formulation |
|
By Application |
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By End-User |
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Regional scope |
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Scope of the Report
Global Hemostat Market By Product:
Global Hemostat Market By Formulation:
Global Hemostat Market By Application:
Global Hemostat Market By End-use:
Global Hemostat Market By Region:
Global Hemostat market is expected to reach USD 4.21 billion by 2030, at a CAGR of 3.5% from 2022 to 2030.
The Hemostat market is projected to have a CAGR of 3.5%.
Based on the product, the Hemostat market is segmented into Thrombin-Based Hemostats, Oxidized Regenerated Cellulose-Based Hemostats, Collagen-Based Hemostats, and Polysaccharide Hemostats.
The growth of this market is mainly driven by the rising use of hemostat products among surgeons and medical professionals.
Based on the application, the Hemostat market is segmented into Orthopedic Surgery, General Surgery, Neurological Surgery, Cardiovascular Surgery, Gynecological Surgery, and Others.
Leading market players active in the Integra LifeSciences Corporation, Baxter AG, Medtronic plc, Stryker Inc, Becton Dickinson and Company, Biom up Innovative Surgery, CryoLife Inc, Hemostatis LLC, Johnson & Johnson, Pfizer, C R Bard, B Braun, Covidien, Advance Medical Solutions Group, Smith & Nephew among other.
Political Factors- Hemostat market manufactures consumer goods, medical technology, and medicines. One of the most crucial variables in determining the growth and profitability of any expanding industry is government intervention. The more stable the political and governmental landscape in a certain market, the better for the company's overall success. Hemostat market must consider the political climates of all the nations where it has a presence because of its global operations. Hemostat market will divest from the situation if there is a risk of a military invasion by a rival nation anyplace.
Economical Factors- Hemostat market manufactures consumer goods, medical technology, and medicines. One of the most crucial variables in determining the growth and profitability of any expanding industry is government intervention. The more stable the political and governmental landscape in a certain market, the better for the company's overall success. Hemostat market must consider the political climates of all the nations where it has a presence because of its global operations. Hemostat market will divest from the situation if there is a risk of a military invasion by a rival nation anyplace.
Social Factors- The key societal aspect that the company is paying particular attention to is the rise in health consciousness. People today are increasingly concerned with their health and desire to lead healthy lives. They are prepared to spend money on items that keep them healthy. Women who like taking care of their skin's shine and smoothness make up the majority of the target market. These days, obesity is a concern for many. One of the key causes of diseases like diabetes is it. The Hemostat market goods should also consider the public's socioeconomic inequality. Not everyone can choose to purchase high-end goods. For everyone, they must have a variety of things.
Technological Factors- Even the medical sector has not been spared by technology. In the medical industry, client requirements are always changing. Climate change, changes in the body's response time, and other variables may all be contributing reasons to the demand. But the business should have items that change in response to demand. Research and development are crucial in this regard.
Environmental Factors- There are different environmental regulations in every nation. Hemostat market is accountable for adhering to each one of them. Since the neighbouring population may be impacted by ingesting that water, it should never generate and dispose of waste in water that pollutes water bodies. With regard to air pollution, the same is true. The amount of trash produced must be controlled, and only after it has been processed to lessen its effect to a particular degree can it be disposed of. No animal should be killed, either. Companies that operate sustainably may gain tax-wise.
Legal Factors- If the laws are not followed, the earnings might go in an instant. Whether it be rules governing the environment, intellectual property, taxes, trade, or anything else. All laws must be obeyed. These regulations differ from nation to nation. Some states may have strong labour regulations that require Hemostat market to pay workers a set minimum wage. In such instance, Hemostat market must follow the rules in order to stay out of trouble with the law. The corporation is safeguarded against significant penalties and operational difficulties by a distinct staff that proactively handles legal terms and conditions from numerous jurisdictions.
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