October 4, 2024

Maximize Office Insights

Easier Work, Maximum Results

Global Hemostats Market Analysis and Forecast 2024-2032 –

Global Hemostats Market Analysis and Forecast 2024-2032 –

Dublin, July 26, 2024 (GLOBE NEWSWIRE) — The “Hemostats Market by Type, Formulation, Application, End User, Distribution Channel and Region – Market Size, Industry Dynamics, Opportunity Analysis and Forecast 2024-2032” report has been added to ResearchAndMarkets.com’s offering.

The Global Hemostats Market is experiencing robust expansion, valued at US$ 2.74 billion in 2023 and projected to grow at a CAGR of 5.92% from 2024 to 2032.

The global hemostats market is experiencing significant growth, driven by the rising prevalence of surgical procedures and trauma cases worldwide. Hemostats, essential tools in surgical settings, are used to control bleeding and enhance wound healing during operations. The increasing incidence of chronic conditions requiring surgery, advancements in surgical techniques, and the growing aging population contribute to the market’s expansion.

Additionally, innovations in hemostatic products, such as fibrin sealants and thrombin-based hemostats, enhance their efficacy and safety, further boosting market demand. North America and Europe dominate the market due to their advanced healthcare infrastructures, while emerging economies in Asia-Pacific are witnessing rapid growth due to improving medical facilities and increasing healthcare expenditure. The global hemostats market is poised for continued growth, driven by ongoing advancements in medical technology and increasing surgical interventions.

Report Insights:

  • North America held the highest market share in 2023, valued owing to its advanced healthcare infrastructure and high prevalence of surgical procedures.
  • Research and development (R&D) initiatives focusing on novel hemostatic technologies, such as biomaterials and minimally invasive agents, are pivotal for market advancement.
  • Key market players including Johnson & Johnson, Baxter International, and Medtronic collectively account for over 42% of the market share, emphasizing a competitive landscape.

Segmental Overview

The Hemostats market is categorized based on Type, Formulation, Application, End Users and Distribution Channel.

The Hemostats Market is experiencing significant growth, primarily driven by the increasing number of surgical procedures worldwide. Topical Hemostats dominate this market with a substantial share of 85.46% in 2023. These agents are highly effective in controlling bleeding during and after surgeries, underscoring their widespread application and preference in various medical scenarios. Among Topical Hemostats, polysaccharide-based variants hold the highest market share in 2023, highlighting their popularity and extensive utilization. Topical Hemostats are projected to exhibit the highest CAGR of 6.09% throughout the forecast period, reflecting their crucial role in addressing bleeding-related concerns and indicating their enduring demand in the medical field.

On the basis of formulation, the market is segmented into Sheet and Pad Hemostats, Sponge Hemostats, Powder Hemostats, Matrix and Gel Hemostats, and others. Matrix and Gel Hemostats lead with the highest market share of 34.24% in 2023. These formulations are favored for their unique properties and applications, providing effective hemostasis when applied to bleeding surfaces. Their versatility and ease of application contribute to their popularity in various medical settings. Matrix and Gel Hemostats are expected to show the highest CAGR of 6.28% during the forecast period, highlighting their continued preference and increased adoption in the medical field.

Based on application, the Hemostats Market is segmented into Orthopedic Surgery, General Surgery, Neurological Surgery, Cardiovascular Surgery, Reconstructive Surgery, Gynecological Surgery, and others. Orthopedic Surgery holds the highest market share of 30.74% million in 2023. Hemostats play a significant role in achieving hemostasis in orthopedic surgeries, which are crucial for successful outcomes. Conversely, Cardiovascular Surgery is anticipated to hold the highest CAGR of 6.29% during the forecast period. The precise hemostasis required in cardiovascular procedures drives the expanding applications of hemostatic agents in this field, emphasizing advancements in cardiovascular surgery techniques and the growing awareness of their benefits.

In terms of end users, the market is segmented into Hospitals, Ambulatory Surgical Centers, Home Care, and others. Hospitals hold the highest market share of 56.20% in 2023, as they are the primary users of hemostatic agents in various medical procedures. This segment is expected to grow with the highest CAGR of 6.32% during the forecast period. Factors such as the increase in surgical procedures, advancements in medical technologies, and the recognition of hemostats’ effectiveness in improving patient outcomes contribute to this growth. The high CAGR highlights the expanding application of hemostatic agents in hospital settings.

Based on distribution channels, the market is segmented into online and offline, with the offline segment holding a dominant market share of 84.83% in 2023. This dominance is due to the established supply chains, existing relationships with healthcare institutions, and the preference for in-person transactions. Conversely, the online segment is expected to grow with the highest CAGR of 6.91% during the forecast period. The shift towards digital channels for distributing hemostatic agents is driven by the increasing adoption of e-commerce in the healthcare sector, technological advancements, and the convenience offered by online platforms. The higher CAGR indicates a faster adoption and growth rate for the online distribution channel compared to offline channels.

Regional Overview:

Based on Region, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South America.

North America holds the highest market share in the Hemostats Market, valued at $1.11 billion. This substantial market share indicates robust demand for hemostats in the region, driven by several factors. North America benefits from a well-established healthcare infrastructure, a high prevalence of surgical procedures, and early adoption of advanced medical technologies. These factors contribute to the extensive use and preference for hemostatic agents in various medical settings, thereby maintaining North America’s dominant position in the market.

Conversely, the Asia Pacific region is anticipated to grow at the highest Compound Annual Growth Rate (CAGR) of 6.32% during the forecast period. This high anticipated CAGR signifies substantial growth in the use and demand for hemostatic agents in the region. Several factors contribute to this growth, including increasing healthcare investments, a rising population with growing healthcare needs, and improving healthcare infrastructure. The rapid economic development and expanding healthcare access in countries like China and India are pivotal in driving the market expansion in the Asia Pacific region. The higher CAGR in Asia Pacific suggests a faster-paced adoption and market expansion compared to other regions, highlighting the dynamic nature of the market landscape.

The contrast between North America’s high market share and the high anticipated CAGR in Asia Pacific underscores a dynamic global market landscape. North America’s established and stable demand for hemostats, coupled with its significant market share, demonstrates its leading role in the global market. At the same time, the Asia Pacific region’s projected accelerated growth and expanding market potential underscore its emerging significance in the global hemostats market.

This combination of established demand in North America and the emerging market potential in Asia Pacific highlights the global nature of the hemostats market. As North America continues to lead with strong and stable demand, Asia Pacific is poised to become a critical region for future market expansion. This dynamic suggests that stakeholders in the hemostats market should strategically focus on maintaining their market presence in North America while actively exploring and investing in the rapidly growing Asia Pacific region.

Competitive Landscape

The Hemostats market is characterized by a vigorous competitive landscape, with prominent entities like Johnson & Johnson, Baxter International Inc., Becton Dickinson and Co., B. Braun Melsungen AG, Medtronic PLC, Pfizer Inc., Teleflex Incorporated and Others at the forefront, collectively accounting for more than 42% of the overall market share. This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings. The primary competitive factors include pricing, product caliber, and technological innovation.

As the Hemostats industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry’s fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector’s comprehensive growth and transformation.

Key Attributes

Report Attribute Details
No. of Pages 277
Forecast Period 2023-2032
Estimated Market Value (USD) in 2023 $2.74 Billion
Forecasted Market Value (USD) by 2032 $4.57 Billion
Compound Annual Growth Rate 5.9%
Regions Covered Global

A selection of companies mentioned in this report includes, but is not limited to:

  • B. Braun Melsungen AG
  • Baxter International Inc.
  • Becton, Dickinson and Co.
  • Gelita Medical GmbH
  • Hemostatis LLC
  • Integra Life Sciences Holding Corp.
  • Johnson and Johnson
  • Medtronic PLC
  • Pfizer Inc.
  • Stryker Corp.
  • Teleflex Inc.

For more information about this report visit

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


            

link