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Hemorrhage control system refers to devices that are made to stop severe bleeding from open wounds before major surgeries, after injuries and others. Traumatic injuries can sometimes lead to heavy blood loss, which can cause death in most cases before the surgery initiates. In this case, the hemorrhage control system is generally used, which works by sealing the wound and creating a temporary hematoma to lessen the blood loss after any traumatic injury. The increasing incidence of traumatic injuries, and postpartum hemorrhage is leading to the growing adoption of these hemostatic devices, further increasing the demand for hemorrhage control systems among the patient population.
Additionally, the increasing focus of the government to promote hemorrhage control systems for the prevention and treatment of postpartum hemorrhage and bleeding from traumatic injuries, is further driving the key players to introduce novel hemorrhage control systems in the market. Along with this, rising awareness about the effectiveness of these devices among patients in halting bleeding after injuries is contributing to the increasing usage of these devices in the market.
Along with this, certain advantages such as its easy and compact packaging, lightweight, easy-to-use, and others is leading to rising preference for these devices among healthcare providers, including veterans, emergency medical HCPs, and others. Thus, these advantages, along with growing awareness about these devices are leading to the market's growth.
The COVID-19 pandemic negatively impacted the hemorrhage control system market. Due to the imposition of health and safety measures to protect against the spread of the virus, traveling was highly restricted during the pandemic which resulted in fewer injuries, accidents, and surgeries among the patient population. This along with travel restrictions to hospitals decreased the usage of these devices during the pandemic which severely impacted the demand of these devices among the patient population and negatively impacted the market.
Furthermore, the pandemic resulted in a heavy disruption in the supply chain which made it difficult for industries and organizations to source and distribute these devices during the pandemic and impacted the demand for these hemorrhage control systems among the patient population.
Based on the product type, the market is bifurcated into hemostatic devices, hemostatic agents, and others. Amongst these, the hemostatic devices segment is anticipated to hold a dominant position in the market. The dominance is due to the increasing rate of road traffic collisions resulting in the rising number of surgeries performed annually among patients. The growing adoption of these devices in surgeries is leading to increasing demand among healthcare providers. The increasing demand is also due to its distinct advantages over hemostatic agents, and tourniquets.
On the other hand, hemostatic agents are anticipated to register considerable growth. This is attributed to its property of maintaining the patient’s hemostasis during surgery and trauma. Along with this, these agents also help in reducing hospital stay time, surgery time, and intra- and post-operative complications. Therefore, rising awareness about the advantages of hemostatic agents is growing the demand for these products among healthcare providers, further leading the focus of key players on research and development activities to introduce novel products in the market.
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North America market holds the largest share in the market due to the increasing preference for hemorrhage control systems owing to the rising number of athletic injuries, war injuries, and others among the population. This, along with increasing surgical procedures resulting in severe bleeding, is expanding the focus of regulatory bodies on the clearance of hemorrhage control systems for marketing which is expected to drive the growth of the market in the region.
On the other hand, Europe is anticipated to register a considerable CAGR attributed to the increasing focus on healthcare spending to manage the increasing trauma and emergencies. This, along with rising government focus on promoting hemorrhage control systems among patients to increase awareness about these devices, further increases the adoption of hemorrhage control devices, thereby contributing to the growth of the market.
The report will include the profiles of key players such as Medtronic, RevMedx, Organon, Stryker, Delfi Medical Innovations Inc., TacMed Solutions, and others.
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