Hemostats Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018–2026

Rising volumes of surgical procedures performed across the world coupled with increasing number of trauma and accident injury cases is expected to foster growth of global hemostats market. For instance, according to the Health and Social Care Information Centre (HSCIC), surgery is one of the most important treatments offered by NHS care in the U.K., and accounted for 4.7 million admissions across multiple medical domains in 2013 -14. The use of these instruments does not require any specific technical expertise and thus, can be used at even the smallest clinics creating a massive customer base and market growth potential. Moreover, the use of these instruments can be found not only in trauma injury surgical procedures but also in complex surgeries that involves significant blood loss due to larger incisions made on the patients’ skin such as open heart surgery, hernia repair surgery, joint repair surgery, cardiovascular surgery, and other neurologic surgeries. For instance, according to the American Joint Replacement Surgery 2016, nearly 427,181 total surgical procedures were reported for joint replacement surgery in the U.S. However, the cluttering of surgical field due to multiple clamp attachment causing inconvenience to the surgeons and thus, leading to surgical errors is expected to hinder the market growth.

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Global Hemostats Market Regional Insights

On the basis of region, the global hemostats market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the dominant position in the global hemostats market, owing to large number of surgeries performed in the region as well as development of technologically advanced products for achieving blood control during trauma management procedures. According to the National Health Statistics Report by the Centers of Disease Control & Prevention, around 201,748.3 million surgical and non-surgical procedures were performed in the U.S. in 2011. The data also suggests that 28.6 million visits to ambulatory surgery cases were reported in the U.S.

Furthermore, Asia Pacific is expected to gain significant traction in the global hemostats market in the near future. Marginal market share would be grasped by the local players entering into the market due to less stringent regulatory requirements for manufacturing of these instruments and growing customer pool due to rapid development of healthcare infrastructure in various economies of Asia Pacific. For instance, Tonglu BA Medical Devices Co., Ltd and Suzhou Texnet Commerce Co., Ltd are China-based hemostat manufacturing companies that offers similar surgical hemostats to that of the major international players at significantly lower costs. The increasing entry of new players into the market is thus, responsible for faster growth of Asia Pacific region in the global hemostats market.

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This release was published on openPR.