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Global hemostats market analysis to grow USD 4.5 billion with CAGR of 6.6% by 2024 made available by top research firm

Global hemostats market analysis to grow USD 4.5 billion with CAGR of 6.6% by 2024 made available by top research firm

Global Hemostats Market is expected to reach USD 4.5 billion by 2024 from USD 2.7 billion in 2016, at a CAGR of 6.6% in the forecast period 2017 to 2024.

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“Global Hemostats Market ” is expected to reach USD 4.5 billion by 2024 from USD 2.7 billion in 2016, growing at a CAGR of 6.6% in the forecast period 2017 to 2024. The new market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Thrombin based hemostats market has the largest market segment in hemostats market.

The global hemostats market is highly concentrated market with major key players and local players to cater the domestic market.

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Ethicon US LLC dominated the hemostats market accounting for the highest market share in 2016, followed by Pfizer Inc., and C.R.

Bard Inc. Other players in the market include Baxter, Vascular Solutions, Inc., B.Braun Melsungen, 3-D Matrix, Ltd., Resorba Medical GmbH (an Advanced Medical Solutions Group plc Company), Anika Therapeutics, Inc., Arch Therapeutics Inc., Biom’Up SAS, CryoLife, Inc., Gamma Therapeutics, Inc., Hemostasis, LLC, MedTrade Products Limited., Integra LifeSciences Corporation, Medline Industries, Inc., HEMOTEC MEDICAL GMBH, Stryker, CSL Behring, Mallinckrodt, and Equimedical, B.V. holds a share of 15.3% of the global hemostats market in 2016.

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ETHICON US, LLC (SUBSIDIARY OF JOHNSON & JOHNSON SERVICES, INC):

Founded in 1886 and headquartered at New Brunswick, New Jersey, U.S., Ethicon US, LLC., a subsidiary of Johnson & Johnson Services, Inc. is engaged in the development and marketing of healthcare products.

The company operates through three business segments- Consumer, Pharmaceutical, and Medical Devices.

Recent developments:

  1. In June, 2017 Ethicon US, LLC received FDA approval for SURGICEL powder absorbable hemostat. This hemostat powder will help surgeons to have a simple and predictable adjunctive hemostatic solution to control continuous oozing on broad or raw surfaces.
  1. In August, 2016 Ethicon US, LLC collaborated with Touch Surgery to improve patient’s condition through Ethicon surgical products.

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Market Segmentation: Global Hemostats Market

The Global Hemostats Market is segmented on the basis of type, application, distribution channel, and end user. The global hemostats market is segmented into 5 major types, namely thrombin based hemostats, combination agents, oxidized regenerated cellulose based haemostats, gelatin based haemostats and collagen based haemostats.

On the basis of application, the Global Hemostats Market is segmented into surgery and wound closure.

On the basis of end users, the market is classified into hospitals, community healthcare, ambulatory centres and clinics. 

Drivers: Global Hemostats Market

Some of the major factors driving the hemostats market are increasing number of minimally invasive surgeries, chronic conditions and aging population leading to increase in number of surgical procedures, expansion in healthcare infrastructure and expenditure, and technological advancements. These factors increase the demand for hemostats such as thrombin based haemostats, combination agents, oxidized regenerated cellulose based haemostats, gelatin based hemostats and collagen based haemostats. 

CHRONIC CONDITIONS AND AGING POPULATION LEADING TO INCREASE IN NUMBER OF SURGICAL PROCEDURES

Hemostats are vital in any surgical process or acts as a foundational component of healthcare systems. Growing geriatric population has resulted in increase in cases of acute and chronic diseases.

Older population is more prone to diseases such as diabetes, infections, cardiometabolic risks and cancer leading to more number of surgeries, which is driving the growth of the hemostats market.

TECHNOLOGICAL ADVANCEMENTS

The key players are investing in development of safe and efficacious agents to meet surgical demand as more minimally invasive and technically challenging operations are being undertaken by surgeons. Advances in hemostatic agents and techniques are manufactured which addresses the unique bleeding challenges encountered in vascular surgery patients.

INCREASING NUMBER OF MINIMALLY INVASIVE SURGERIES

An increasing trend of minimally invasive surgeries is witnessed due various advantages compared to open surgeries such as less post-operative pain, reduced trauma to the skin and muscles, and quick recovery. The surgical toolbox is expanding, and newer products are being developed to improve results of the surgeries.

Less invasive procedures result in shorter recovery times, faster discharges, reduced scarring, pain and the need for pain medications.

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Major Players: Global Hemostats Market

Some of the major players operating in this market are Pfizer, C.R. Bard, Baxter, Vascular Solutions, Inc., B.Braun Melsungen, 3-D Matrix, Ltd., Resorba Medical GmbH (an Advanced Medical Solutions Group plc Company), Anika Therapeutics, Inc., Arch Therapeutics Inc., Biom’Up SAS, CryoLife, Inc., Gamma Therapeutics, Inc., Hemostasis, LLC, MedTrade Products Limited, Integra LifeSciences Corporation, Medline Industries, Inc., HEMOTEC MEDICAL GMBH, Stryker, CSL Behring, Mallinckrodt and Equimedical, B.V. among other companies.

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