Press release
Hemostats Market Poised to Hit $4.66 Billion by 2029 with Accelerating Growth Trends
Hemostats Market
Hemostats Market Size Growth Forecast: What to Expect by 2025?
In recent times, the hemostats market has experienced a significant expansion. It is forecasted that the market value will rise from $3.37 billion in 2024 to $3.56 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.5%. The historical growth trend is linked to advancements in surgery, an increasing elderly population, expansion in cardiovascular surgeries, orthopedic uses, and the prevalence of chronic diseases and coagulation disorders.
How Will the Hemostats Market Size Evolve and Grow by 2029?
It is predicted that the size of the hemostats market will exhibit robust growth in the coming years, expanding to $4.66 billion in 2029 with a compound annual growth rate (CAGR) of 7.0%. The growth during this projected period can be linked to emergency readiness and the response to the pandemic, development in global healthcare facilities, increasing demand for minimally invasive surgeries, the widening use case in different specialities, and focus on biocompatibility. During the forecasted period, the major trends to look out for include product innovation, progression in hemostatic technologies, and emphasis on minimally invasive surgeries.
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What Drivers Are Propelling the Growth of Hemostats Market Forward?
The hemostat market is anticipated to expand due to a predicted rise in surgical procedures. Surgical procedures entail any form of invasive intervention used to examine or manage a disease or condition. Hemostats are crucial in these procedures as they help minimize blood loss during surgery. For example, in September 2023, the International Society of Aesthetic Plastic Surgery, a professional organization in Lebanon for certified plastic surgeons, reported an 11.2% overall surge in procedures performed by plastic surgeons in 2022, with over 14.9 million surgical and 18.8 million non-surgical procedures being carried out globally. Furthermore, there has been an uptick in both types of procedures since the previous survey, with surgical and non-surgical procedures recording a 16.7% and 7.2% increase respectively. As such, the rise in surgical procedures is fueling the expansion of the hemostat market.
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Which Emerging Trends Are Transforming the Hemostats Market in 2025?
A significant trend in the hemostats market is the progression of technology. Leading companies in this sector are making remarkable strides in innovating new technologies and conducting extensive research and development. For example, Baxter, an American healthcare firm, announced the release of PERCLOT Absorbable Hemostatic Powder in the United States in March 2022. PERCLOT is a self-absorbing hemostatic powder that, immediately prepared for usage, is crafted for patients with functioning coagulation and cater to mild bleeding incidents. The introduction of PERCLOT in the United States enables the providing of a comprehensive assortment of active and passive hemostatic products to surgeons for controlling bleeding and thereby enhances the quality of care available to their patients.
What Are the Key Segments in the Hemostats Market?
The hemostats market covered in this report is segmented -
1) By Type: Thrombin-Based Hemostats, Oxidized Regenerated Cellulose-Based Hemostats, Combination Hemostats, Gelatin-Based Hemostats, Collagen-Based Hemostats
2) By Product: Active Hemostats, Passive Hemostats, Combination Hemostats, Other Products
3) By Formulation: Matrix And Gel Hemostats, Sheet And Pad Hemostats, Sponge Hemostats, Powder Hemostats
4) By Application: Orthopedic Surgery, General Surgery, Neurological Surgery, Cardiovascular Surgery, Reconstructive Surgery, Gynecological Surgery, Other Applications
Subsegments:
1) By Thrombin-Based Hemostats: Topical Thrombin, Lyophilized Thrombin
2) By Oxidized Regenerated Cellulose-Based Hemostats: Pads, Granules
3) By Combination Hemostats: Thrombin And Gelatin Combinations, Thrombin And Collagen Combinations
4) By Gelatin-Based Hemostats: Gelfoam, Gelatin Sponge
5) By Collagen-Based Hemostats: Collagen Sheets, Collagen Powder
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Who Are the Key Players Shaping the Hemostats Market's Competitive Landscape?
Major companies operating in the hemostats market are B. Braun Melsungen AG, Baxter International Inc., Integra LifeSciences Corporation, Becton Dickinson and Company, Teleflex Incorporated, Medtronic PLC, Hemostasis LLC, Stryker Corporation, Advanced Medical Solutions Group PLC, Samyang Holdings Corporation, Gelita Medical GmbH, CryoLife Inc., CuraMedical B.V., Meril Life Sciences Pvt. Ltd., Beijing Datsing Bio-Tech Co. Ltd., Zhonghui Shengxi (Beijing) Medical Technology Co. Ltd., Biotemed Inc., Biom'up SA, Shandong Foryou Medical Devices Co. Ltd., Z-Medica LLC, Anika Therapeutics Inc., Metalcraft Solutions Inc.
What Geographic Markets Are Powering Growth in the Hemostats Market?
North America was the largest region in the hemostats market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hemostats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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