Hemostats Market 2019 - Strategic Analysis of the Top Companies Investments like CR Bard, Inc., Integra LifeSciences, Marine Polymer Technologies, Inc., Teleflex, Ethicon, Inc., Pfizer, Inc.

A Broad Analysis of the "Worldwide Hemostats market “methodology of the leading organizations in the exactness of Import/Export Utilization, Industry Activity Figures, Cost, Value, Revenue and Gross Edges.

Global Hemostats Market - Synopsis

Market Research Future (MRFR) proposes that the global hemostats market is predicted to demonstrate 6.4% CAGR during the forecast period (2018-2023). The increasing number of surgical procedures is presumed to favor the market growth.

Also termed as hemostatic clamp or arterial forceps, hemostat is a surgical tool which is generally used during major surgical procedures to control the loss of blood or halt bleeding during surgery. Hemostats comprises a group of instruments including tissue holders, pivot, various clamps, and needle holders.

The major challenge in any surgery is the reduced blood loss by hemostasis and can be achieved by methods like mechanical methods, flowable and sealants, thermal energy-based devices, active agents, pharmaceutical agents, topical hemostatic agents, and thermal energy-based devices. These surgical instruments enable the temporary formation of blood clot in order to control bleeding.

Competitive Dashboard

The prominent players operating the global hemostats market are Anika Therapeutics Inc. (US), Ethicon Inc. (US), B. Braun Melsungen AG (Germany), Pfizer Inc. (US), Gelita Medical GmbH (Germany), Integra Lifesciences Corporation (US), Z-Medica LLC (US), Teleflex (US), CR Bard Inc. (US), Stryker (US), Marine Polymer Technologies Inc. (US), Integra LifeSciences (US), and Baxter International Inc. (US).

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Global Hemostats Market - Segmental Analysis

The global hemostats market has been segmented on the basis of instrument type, product type, application, and end-user.

By mode of product type, the global hemostats market has been segmented into combination based, thrombin-based, gelatin based, oxidized regenerated cellulose-based, tissue sealants, collagen-based hemostat, adhesion prevention products, and cyanoacrylate-based tissue adhesives.

Among these, the thrombin-based hemostats are considered to occupy the largest market share owing to the numerous advantages associated with the use of thrombin-based hemostats.

By mode of instrument type, the global hemostats market has been segmented into kelly and Crile hemostatic forceps, Halstead mosquito hemostatic forceps, and Rochester-carmalt hemostatic forceps.

By mode of application, the global hemostats market has been segmented into general surgery, cardiovascular surgery, reconstructive surgery, gynecological surgery, orthopedic surgery, neurological surgery, and other surgeries.

Among these, the orthopedic surgery is likely to occupy the largest market share owing to the rising geriatric population, prevalence of lifestyle disorders like osteoporosis, arthritis, and obesity, and the accelerating incidences of sports injuries. Moreover, the rising number of orthopedic surgeries is anticipated to support the market growth.

By mode of end-users, the global hemostats market has been segmented into clinics, hospitals, community healthcare, ambulatory surgery centers, and others.

Market Potential and Pitfalls

With the augmenting number of surgical procedures, the growing prevalence of sports-related damages, constant progression in the product range, spinal disorders, rising focus on effective blood loss management in patients, and technological advancements are some of the major factors anticipated to fuel the market growth throughout the assessment period.

The increasing number of surgical centers and hospitals coupled with the emerging markets are offering growth opportunities to the market players, thereby contributing to the market growth globally. The market is also driven by the rising number of regulatory approvals, increasing surgical procedures and growing prevalence of spinal ailments.

As the hemostat clinical practice is expanding at a rapid pace, the hemostats market is experiencing a boom. The market is experiencing lucrative growth opportunities owing to the presence of the patient population across the world. Moreover, the affordable prices of such tools fuel the market growth.

On the contrary, strict mandates from the government, the high cost of hemostats, and lack of skilled professionals are some of the top barriers considered to vitiate the market growth in the coming years. Additionally, the reluctance of the surgeons coupled towards the adoption of new products coupled with the weak reimbursements policies is estimated to dampen the market growth globally.

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Detailed Regional Insights

Geographically, the hemostats market span across regions namely, Europe, America, Asia-Pacific, and the Middle East and Africa.

Among all the regions, the American region is considered to lead the hemostats market across the globe. The growth is credited to the increasing number of diseases owing to the changing lifestyle and augmenting geriatric population.

With the growing awareness regarding healthcare, medical tourism, advancements in technology, and growing disposable income, the market in this region is anticipated to flourish. As per the United States Center for Disease Control and Prevention, approximately 45% of the total American population suffers from at least one chronic disease which further demands for critical care.

Europe is estimated to occupy the second position owing to the advent of technologically advanced hemostat products such as HEMOPATCH, FLOSEAL, and TISEEL. Additional factors promoting the market growth are the increasing geriatric population, heart-related issues, and increasing prevalence of diabetes, which is further estimated to result in a higher number of surgeries.

The Asia Pacific region is predicted to expand at the fastest rate owing to the increasing patient population, changing lifestyle, and rising geriatric population. Such factors are considered to provide an impetus to the growth of the market in this region.

Industry Updates

A global leader in advancing surgical innovation, Baxter International Inc., had recently announced the publication of two brand new analyses of real-world data associated with the use of Floseal Hemostatic Matrix in spinal surgeries. The studies have observed better resource use and clinical outcomes in cases with billed charges for Floseal as compared to cases with charges for Floseal.

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