The new report by Expert Market Research titled, ‘Global Hemostats Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global hemostats market, assessing the market based on its segments like by product, formulation, indication, application, end use and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 3.8 Billion
- Forecast CAGR (2023-2028): 6.4%
- Forecast Market Size (2026): USD 5.2 Billion
The most important driver of the world market has been an increase in the number of operations performed worldwide, which has given a major boost to the increasing occurrence of bleeding complications during the procedure, leading to market growth of hemostats. But due to the high cost of the product, the growth could be impeded.
Hemostats Industry Definition and Major Segments
A hemostat is a medical instrument used to control bleeding during certain surgical procedures. Hemostats are part of a class of instruments that pivot (similar to scissors and including needle holders, tissue holders, and various clamps) and the role is determined by the shape of the blade. In emergency wound treatment, hemostats serve three purposes. Hemostats were originally intended to clamp narrow blood vessels in order to control haemorrhage. Another use is for grasping and securing superficial fascia when weakening and debriding wounds. Finally, this instrument is ideal for revealing, discovering, and visualising deeper regions of a wound.
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By product, the market is divided into:
- Oxidised Regenerated Cellulose Based
Based on formulation, the market is categorised into:
- Sheet and Pad
- Matrix and Gel
On the basis of indication, the market is divided into:
- Wound Closure
Based on application, the market is segmented into:
- Cardiovascular Surgery
- General Surgery
- Gynaecological Surgery
- Orthopaedic Surgery
- Reconstructive Surgery
- Neurological Surgery
By end use, the market is categorised into:
- Ambulatory Centres
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Hemostats Market Trends
The increasing number of operations, the numbers of regulatory approvals, the increase in sports-related injuries and spinal disorders, and an increasing emphasis on successful management of blood loss in patients in surgical procedures, drive growth in this industry. Moreover, the emerging markets and growth in the number of hospitals and surgical centres are expected to give players operating in the Hemostat sector additional opportunities for growth over the forecast period.
The hemostats demand in North America is projected to be the largest in the world. In North America, the hemostats industry is well-established, with the United States serving as a primary market. In the forecast timeframe, China and India are projected to provide major growth opportunities for market players, owing to improved healthcare facilities, rising medical tourism, and an increase in the number of elderly people in the country.
Key Market Players
The major players in the market are Teleflex Incorporated., B. Braun Melsungen AG, Integra LifeSciences Corporation, Pfizer Inc., Baxter International, Inc. , Johnson & Johnson Services, Inc., among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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