Hemostats And Tissue Sealants Market to Grow by USD 3.36 Billion (2024-2028),Vendor Strategies Boost Growth, AI-Powered Market Evolution Report - Technavio

The hemostats and tissue sealants market is projected to expand by USD 3.36 billion at a CAGR of 11.79% between 2023 and 2028. The increasing need for hemostats applications in surgical procedures, the growing emphasis on tissue sealant technology, and advancements in biotech hemostats are fueling market expansion. Key market players are introducing new hemostats products, while regulatory bodies enforce hemostats regulations and tissue sealant safety standards. The rising adoption of hemostats types and their widespread use in tissue sealant uses are driving demand across the healthcare sector. Leading hemostats firms continue to invest in innovation to meet the evolving needs of hospitals and surgical centers.Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Segmentation

By Product

• Hemostats
• Tissue Sealants and Adhesives
• Fibrin Sealants

By End-User

• Hospitals
• Ambulatory Surgical Centers
• Homecare Settings
• Others

By Material

• Gelatin-based Topical Hemostats
• Collagen-based Topical Hemostats
• ORC-based Topical Hemostats
• Polysaccharide-based Topical Hemostats

By Application

• General Surgery
• Minimally Invasive Surgery
• Trauma
• Hemophilia
• Others

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Regional Market Trends

North America

• US

• Canada

Europe

• Germany

• UK

Asia

• China

Rest of World (ROW)

North America dominates the market, contributing 46% of the global market share. The region's well-established healthcare infrastructure and high number of surgical procedures, including cardiovascular and spinal surgeries, drive demand. In the US, approximately six million high-bleeding surgeries occur annually, increasing the need for hemostats and tissue sealants. The growing geriatric population and prevalence of chronic diseases such as diabetes, cancer, and cardiovascular conditions further fuel the market.

Market Dynamics

Drivers

• High use of hemostats and tissue sealants in surgeries
  • Over 25 million surgical procedures are performed globally each month, with a significant number encountering bleeding complications.
  • These products reduce blood loss and seal suture lines more effectively than traditional methods such as sutures and staples.
  • Essential in minimally invasive surgeries, including urology, neurology, and cardiac procedures.

Trends

• Increasing R&D focus on novel hemostats and tissue sealants
  • Baxter International launched next-generation hemostats and sealants, expanding product availability.
  • 3-D Matrix Medical Technology introduced PuraStat, a synthetic hemostatic material in prefilled syringe form.

Challenges

• High cost of hemostats and tissue sealants
  • Fibrin sealants cost between USD 50 and USD 600 per unit.
  • Mechanical hemostats range from USD 50 to USD 200, while active flowable hemostats cost USD 200 to USD 300.
  • Limited insurance coverage in developing economies restricts accessibility.

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Recent Developments

• January 2024 – Baxter International Inc. launched Prisma Hemostatic Matrix, an absorbable hemostat for multiple surgical applications.
• March 2023 – Ethicon partnered with a biotechnology company to develop a novel bioresorbable hemostat.
• July 2022 – Teleflex Incorporated acquired LMA Worldwide, expanding its critical care and anesthesia portfolio.
• November 2021 – Integra LifeSciences Holdings Corporation acquired Cimarex, strengthening its wound closure and tissue regeneration business.

Future Insights

The hemostats and tissue sealants market is set for robust growth, driven by technological advancements, increased surgical procedures, and rising demand for effective hemostatic solutions. Regulatory developments and cost challenges will continue to shape the market landscape.