Hemostasis Products Market 2024 - Top Manufactures, Growth Rate, Revenue And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Hemostasis Products Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The hemostasis products market size has grown strongly in recent years. It will grow from $1.59 billion in 2023 to $1.7 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to rise in surgical procedures, growing aging population, increasing incidence of hemophilia, expanding healthcare infrastructure, rising awareness about blood clotting disorders.

The hemostasis products market size is expected to see strong growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to rising demand for minimally invasive surgeries, global increase in trauma cases, expansion of hemostasis applications in chronic diseases, shift towards ambulatory surgical centers, personalized medicine and biomarker research. Major trends in the forecast period include technological innovations in hemostasis, advancements in hemostatic technologies, rising preference for minimally invasive procedures, growing incidence of chronic diseases, focus on biodegradable hemostatic agents.

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Market Drivers and Trends:

The increase in the prevalence of blood disorders is expected to propel the growth of the hemostasis products market going forward. Blood disorders, also known as hematologic disorders, refer to a group of medical conditions that affect the composition, function, and behavior of blood and its components. Hemostasis products are used in various blood disorders to help regulate the clotting and bleeding processes in the body. It can address both excessive bleeding (hemorrhage) and excessive clotting (thrombosis) that can occur in different blood disorders. For instance, in June 2021, according to the Leukemia Foundation, an Australia-based non-profit organization, there were approximately 110,000 people living with blood disorders in Australia in 2021. By 2035, it is expected that this number will increase to more than 275,000 cases due to the rise in the incidence of blood cancer and blood disorders in Australia. Therefore, an increase in the prevalence of blood disorders is driving the growth of the hemostasis products market.

Major companies operating in the hemostasis products market are developing innovative drugs such as the Nexpowder endoscopic hemostasis system and getting approval to have a full range of active and passive hemostatic products for bleeding control. An endoscopic hemostasis system is a medical device and technique used to control bleeding in the gastrointestinal (GI) tract during endoscopic procedures. For instance, in September 2022, Medtronic plc, a US-based medical device company received clearance from the U.S. Food and Drug Administration for the Nexpowder Endoscopic Hemostasis System for the treatment of nonvariceal upper GI bleeding. This innovative hemostatic product is designed to be used in conjunction with endoscopy. Moreover, it has the potential to make a significant impact on the treatment of nonvariceal upper GI bleeding as it is easy to use, effective, and well-tolerated.

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Major Key Players of the Market:

Pfizer Inc., Abbott Laboratories, Thermo Fisher Scientific Inc., Medtronic plc, Johnson And Johnson Pvt. Ltd., Siemens Healthineers, Becton Dickinson and Company (BD), Stryker Corporation, Baxter International Inc., Boston Scientific Corporation, F. Hoffmann-La Roche Ltd., BBraun Melsungen AG, Fresenius Kabi AG, Zimmer Biomet Holdings Inc., Olympus Corporation, Grifols S.A., Terumo BCT Inc., Smith And Nephew plc, Ethicon Suture Laboratories, Hologic Inc., Cook Medical, Teleflex Incorporated, Integra LifeSciences Corporation, Haemonetics Corporation, Z-Medica LLC, Tricol Biomedical, Hem Con Medical Technologies Inc., Hemostasis LLC, C. R. Bard Inc., CuraMedical BV

Hemostasis Products Market 2024 Key Insights:

• The hemostasis products market is expected to grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%.
• Increase In The Prevalence Of Blood Disorders Boost The Market For Hemostasis Products
• Increasing Focus On Product Approvals To Drive The Revenues
• North America was the largest region in the hemostasis products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

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