The global hemostats market is poised for significant growth, with a projected increase of USD 844.8 million, at a CAGR of 5.7% between 2023 and 2028. This growth is driven by a rising number of post-operative procedures, an increasing number of hospitals and surgical centers, and advancements in biomedical engineering and medical technology. As healthcare infrastructure expands globally, the demand for hemostatic products is escalating, driven by the shortage of skilled medical personnel proficient in their application. Moreover, innovations in tissue engineering and the use of biocompatible materials are expected to accelerate market growth.
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The hemostats market is categorized based on the type of hemostats and geography. Key segments include:
The Matrix and Gel Hemostats segment holds the largest market share and is expected to witness significant growth. These hemostats, which consist of a thrombin component and a flowable gelatin matrix, offer advantages like ease of application, cost-effectiveness, and biocompatibility. The flowable nature of these agents allows for easy removal of excess material, making surgeries more efficient.
North America: North America, particularly the US, is expected to contribute 40% to the market's growth during the forecast period. The region’s advanced healthcare infrastructure, high adoption rates of medical innovations, and an ageing population are key drivers of this trend. The US Food and Drug Administration (FDA) approved several hemostatic products in 2023, such as Axio Biosolutions' Ax-Surgi Surgical Hemostat, contributing to the demand in the region.
Europe: Europe’s growth is also driven by increased surgical procedures and advancements in hemostat technologies. Germany, the UK, France, and Italy are significant contributors to this market.
Asia: Asia, with its growing healthcare infrastructure and increasing number of surgeries, is an emerging market for hemostats, particularly in countries like China and India.
Increasing Volume of Surgical Procedures: A significant driver for the hemostats market is the growing number of surgical procedures performed globally. In the US alone, 40-50 million surgeries are carried out annually, creating a demand for effective hemostatic solutions.
Rising Adoption of Hemostatic Materials to Reduce Post-Surgical Adhesion Formation: The use of hemostatic products, including bioabsorbable sponges and adhesion barriers, is growing to prevent post-surgical adhesions that can lead to complications like infertility and physical disability.
Expansion of Healthcare Infrastructure: The rise in hospitals and surgical centers globally is a key trend. In 2024, China announced significant investments in its healthcare sector, driving the demand for hemostats.
Innovative Medical Technologies: The market is witnessing continuous innovations in hemostat technologies, including drug delivery systems, bioabsorbable materials, and advancements in tissue engineering, aimed at improving wound healing and blood clotting.
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The competitive landscape of the hemostats market includes various companies implementing strategies such as mergers and acquisitions, product innovations, and regional expansions. Key players mentioned in the report are:
As the demand for effective bleeding control solutions continues to rise, the hemostats market is expected to grow substantially between 2024 and 2028, driven by innovation, regional expansions, and increasing surgical procedures worldwide.
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