Hemostats are surgical devices used to control bleeding during surgical procedures, making them essential in the medical and healthcare industry. These devices work by promoting blood clotting at the site of a surgical incision, thereby preventing excessive blood loss and facilitating the healing process.
The hemostats market consists of sales, by entities (organizations, sole traders and partnerships), of hemostats tools or equipment that are utilized by surgeons and medical practitioners across a wide range of surgical fields, including but not limited to orthopedic, neurological, cardiovascular, reconstructive, gynecological and general surgeries, to reduce or suppress bleeding. They are often used in operating rooms, emergency rooms and other medical settings where bleeding control is critical.
The global hemostats market was valued at $2,780.87 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 2.0%.
Increase In Surgical Procedures
An increase in surgical procedures drove the growth of the hemostats market during the historic period. Hemostatic products are essential across diverse surgical specialties such as cardiovascular, orthopedic, neurosurgery and general surgery, contributing significantly to the overall market demand. The growth in these varied surgical procedures directly drives the increasing need for hemostats in healthcare settings. For instance, according to the American Academy of Facial Plastic and Reconstructive Surgery (AAFPRS) report in February 2022, 1.4 million surgical and non-surgical procedures were done in 2021, on an average of 600 more procedures had increased when compared with 2020. Therefore, an increase in surgical procedures supported the growth of the hemostats market.
Innovation In Hemostatic Powder Technology
Major companies operating in the hemostats market are focused on advancing their new technologies and research and developments. New product lines ensure that surgeons have access to the right tools for effectively controlling bleeding across a wide range of surgical procedures, thereby optimizing patient care. For instance, in March 2023, Baxter, a US-based healthcare company, launched PERCLOT Absorbable Hemostatic Powder in the U.S. PERCLOT is a passive, absorbable hemostatic powder that is ready-to-use and designed for patients with intact coagulation to address mild bleeding. The launch of PERCLOT in the U.S. provides surgeons a full range of active and passive hemostatic products for bleeding control, helping to optimize care for their patients.
The global hemostats market is highly concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 60.22% of the total market in 2023.
Hemostats Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global hemostats market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for hemostats? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The hemostats market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider hemostats market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by formulation and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the hemostats market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product, by formulation and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for hemostats providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product: Active Hemostats; Passive Hemostats; Combination Hemostats; Other Products
- 2) By Formulation: Matrix And Gel Hemostats; Sheet And Pad Hemostats; Sponge Hemostats; Powder Hemostats; Other Formulations
- 3) By Application: Orthopedic Surgery; General Surgery; Neurological Surgery; Cardiovascular Surgery; Reconstructive Surgery; Gynecological Surgery; Other Applications
- Companies Mentioned: Baxter International Inc.; B. Braun Melsungen AG; Integra LifeSciences Corporation; Johnson & Johnson Inc.; Stryker Corporation
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; hemostats indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.