Hemostats Market to Soar at 6.0% CAGR - Growth Projection by US$ 3.03 Billion to 2023

The key players in the hemostats market include CR Bard, Inc. (US). B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), Integra LifeSciences (US), Marine Polymer Technologies, Inc. (US), Teleflex (US), Ethicon, Inc. (US), Pfizer, Inc. (US), Z-Medica LLC (US), and Gelita Medical GmbH (Germany).

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Hemostat is a surgical tool used to control bleeding during surgery. Hemostats are applied by the means of tissue sealants and tissue adhesion agents. Tissue sealants and adhesives are mainly classified into two types namely, physical agents and biological substrates. Tissue sealants, tissue adhesives and adhesion prevention products are rapidly replacing conventional sutures for wound and incision closure.

3 Executive Summary

4 Premium Insights
4.1 Hemostats: Market Overview
4.2 Asia Pacific: Hemostats Market, By Formulation (2018)
4.3 Hemostats Market, By Region (2018)
4.4 Geographical Snapshot of the Hemostats Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Drivers
5.3.1 Increasing Number of Surgical Procedures
5.3.2 Growing Number of Regulatory Approvals
5.3.3 Increasing Incidence of Sports-Related Injuries and Spinal Ailments
5.3.4 Rising Focus on Effective Blood Loss Management in Patients During Surgeries
5.4 Market Opportunities
5.4.1 Growth in the Number of Hospitals & Surgical Centers
5.4.2 Emerging Markets
5.5 Market Restraints
5.5.1 Product Recalls
5.5.2 Highly Consolidated Market
5.6 Market Challenges
5.6.1 Dearth of Skilled Personnel
5.6.2 High Cost of Hemostats

Hemostats market is expected to reach USD 3.03 billion by 2023 from USD 2.27 billion in 2018, at a CAGR of 6.0%. Growth in this market is driven by increasing number of surgical procedures, growing number of regulatory approvals, increasing incidence of sports-related injuries & spinal ailments. Geographically, hemostats market was dominated by North America, followed by Europe in 2017. However, Asia Pacific is estimated to grow at the highest rate during the forecast period. The improving healthcare infrastructure, growing medical tourism, increasing number of elderly people in the region.

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Currently, North America dominates the global hemostats market and is followed by Europe due early adoption of highly developed technologies in general healthcare and swift adoption of innovative products in these regions.Asia-Pacific is a promising market for hemostatsand is expected to undergo rapid market growth due to phenomenal growth in the medical tourism industry, increase in purchasing power, rapidly improving healthcare infrastructure and increased awareness.

Target Audience for this Report:
• Manufacturers and vendors of hemostats products
• Distributors of hemostats products
• Venture capitalists
• Various research and consulting firms
• Hospitals and clinics
• Ambulatory surgical centers
• Medical device companies

The global hemostats market is bifurcated on the basis of product type and region. The product type segment includes gelatin-based hemostats, thrombin-based, collagen-based hemostats, oxidized regenerated cellulose based hemostats, and combination hemostats. The regional breakdown of the hemostats market is given by North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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The report analyses the hemostats market by product, application, formulation, and region. Apart from a comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. In addition, the company profiles include product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the hemostats market.

North America is the leading consumer of the hemostats which is followed by Europe and Asia-Pacific region. Various strategies are adopted by the market players such as joint ventures, new product launches, agreements, partnerships, and collaborations in order to enhance the market revenue in the North America which contributes to the market growth.

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