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Hemostats Market Size, Share & Industry Analysis, By Product Type (Active Hemostats, Passive Hemostats, Combination Hemostats, Others), By Application (Trauma, Cardiovascular Surgery, General Surgery, Plastic Surgery, Orthopedic Surgery, Neurosurgery, Others), By End User (Hospitals, Ambulatory Surgical Centers, Tactical Combat Casualty Care Centers, Others) and Regional Forecast, 2018-2025

Region : Global | Published Date: Mar, 2020 | Report ID: FBI100084

 

KEY MARKET INSIGHTS

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Hemostatic agents play a major role in preventing uncontrolled hemorrhage during surgical procedures and vascular injuries. Hemostats improve hemostasis by boosting the primary hemostasis process and by vitalizing fibrin formation. Hemostasis refers to the prevention of bleeding, either by an abnormal obstruction or by normal vasoconstriction and also by coagulation or surgical means (such as ligation). Hemostasis products are those which improve the hemostasis procedure outcomes and enhance overall patient care.


The hemostats market is estimated to witness lucrative growth during the forecast period, owing to the increasing incidence of hemorrhage during surgical procedures and a rising emphasis on blood loss management. According to data published by the Journal of Emergency Medical Services (JEMS), each year, an estimated 5.0 million people die due to traumatic and non-traumatic hemorrhage worldwide. Combined with this, certain factors such as growth in surgical procedures, technological advancements in surgeries such as robotic surgeries, rising geriatric population, and the growing prevalence of chronic conditions are significantly augmenting hemostats market growth. Moreover, growth in trauma cases and complex surgeries are also projected to boost the global hemostatic agents market during the forecast period.


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The high growth rate of the hemostasis agents market is also attributable to the Increasing incidence of sports-related injuries and spinal ailments. Also, the growing awareness among the healthcare professionals about the associated benefits of hemostatic agents is another considerable factor supporting the adoption of such procedures and thereby augmenting hemostats market growth.


MARKET DRIVERS


“Gradual Rise in the Number of Surgeries Performed Worldwide Projected to Strongly Support Market Expansion.”


There is a gradual rise in the number of surgeries performed globally. Effective bleeding management during the surgeries to achieve hemostasis is one of the key determinants of positive outcomes. Difficulties in achieving hemostasis are associated with excessive wound bleeding and the requirement of blood transfusion especially in the case of anticoagulated patients. The use of hemostat increases hemostasis and also provides a wide range of benefits. The growing prevalence of chronic ailments that require surgical care will strongly boost the hemostasis agents market growth during the forecast period. Based on a survey conducted by WHO, in 66 member states during the past decade, Luxembourg and Switzerland accounted for the highest density of surgeries performed per million population. Apart from these, developed countries, such as the U.S., Canada, France, Italy and Germany, were reported to have a significant density of surgical volume. Hence, the growing number of surgical procedures across the globe will significantly drive the hemostats market growth during the forecast period. 


“Increasing Number of Manufacturers Focusing on R&D Activities to Enhance Hemostatic Agents will Stimulate Market Growth”


The Increasing number of manufacturers focusing on R&D activities to modify and improve the hemostatic agents will strongly boost product demand, thereby augmenting hemostasis agents market expansion. Also, the growing number of companies entering the hemostats industry is another growth fostering factor. At present, there are various existing and under biodegradable research agents that are used as hemostats. For example, LYDEX, a biomaterial made from dextran to be used for hemostasis in surgical procedures, is under research by BMG Incorporated, a company focused on developing biomaterial products. Hence, the aforementioned factors will considerably propel the market growth during the forecast period.


SEGMENTATION


By Product Type Analysis


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“Combination Hemostats Segment to Grow Rapidly Owing to its Associated Benefits”


In terms of product, the global hemostatic agents market is categorized into combination hemostats, active hemostats, passive hemostats, and others. The Active hemostats are further segmented into thrombin based hemostats and fibrin sealants. Passive hemostats are classified into plant-based, animal-based, and others. The passive hemostat segment held a dominant share in the global hemostatic agents market in 2017. The growth of the segment is attributable to the certain advantages associated with the application of passive hemostats such as improved patient outcomes, minimal complications and economic compared to other hemostats. Combination hemostats offer efficient hemostasis in a shorter time due to the rapid action of gelatin and thrombin. Surgiflow and Floseal are the most popular brands that are preferred in surgical hemostasis worldwide. Combination hemostats are easy to prepare; they exhibit fast action and don’t require thawing when used during surgery. The rising adoption of combination hemostats in surgical hemostasis is one of the major factors driving the overall hemostasis market. Advancement in the combination hemostats and new product development with advanced technologies are expected to generate huge demand for the hemostatic agents during the forecast period.


The active hemostats segment that includes thrombin & fibrin sealants, estimated to witness lucrative growth across the analysis period. Additionally, the superiority of fibrin sealants over the limitations of conventional methods such as cautery or sutures may lead to increased adoption of fibrin sealants in the coming future. However, increased risk of adverse drug reactions such as pyrexia, allergic reactions and severe anaphylaxis in rare cases are expected to hamper the growth of the fibrin sealants up to a certain extent.


By Application Analysis


“General Surgery Segment to Lead: Increasing Number of Procedures Will Favor Growth”  


On the basis of application, the global market can be categorized into trauma, cardiovascular surgery, general surgery, plastic surgery, orthopedic surgery, neurosurgery, and others that include urology, transplant, etc. The orthopedic surgery segment is estimated to witness favorable growth across the forecast period. This is majorly due to factors such as the growing geriatric population, rising incidence of sports injuries, and the increasing prevalence of chronic disorders such as osteoporosis, arthritis, and obesity. The growing number of orthopedic surgeries is, in turn, expected to support the segmental growth.


The general surgery segment is anticipated to hold major market share during the forecast period. High demand for surgical procedures pertaining to several chronic disorders that require surgical care is one of the major factors augmenting the market growth. As per data from Standford Health care, in the U.S., there is an estimated number of 7.3 million cardiovascular surgeries and 6.1 million digestive system related surgeries performed in the year 2009 and the rate of performing such procedures is increasing with time. Hence, the aforementioned factors will strongly support market expansion.     


By End User Analysis


“Presence of State-of-the-Art Facilities in the Hospital Settings Will Spur Revenue Generation”


Based on end-users, the market is categorized into hospitals, ambulatory surgical centers, tactical combat casualty care centers and others. The hospitals segment is anticipated to hold dominant shares, owing to the presence of state-of-the-art facilities across the hospital settings. Moreover, hemostats are used in surgical procedures to prevent blood loss; thus, a growing number of surgical procedures in the hospital settings owing to the availability of required facilities will significantly support segmental growth. Hence, the aforementioned factors will augment hospitals segment growth in the hemostasis market during the forecast period.


The ambulatory surgical centers segment is estimated to witness stable growth during the forecast period. Steady growth is attributable to the increasing trend of such facilities across several economies of the world. The growing facilities of ambulatory surgical centers and day surgery, in the developing economies is one of the major growth fostering factors. Also, the increasing preference among the population about the outpatient facilities is another important factor contributing to the stable growth of the segment.


REGIONAL ANALYSIS


North America Hemostats Market Size, 2017

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The global hemostat market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In North America, the market is anticipated to hold major market revenue during the forecast years due to the increased number of surgeries performed and active government interventions to avoid wound bleeding during surgeries. According to the Healthcare Cost and Utilization Project, in 2014, in the U.S., 17.2 million hospital visits (ambulatory or inpatient) included invasive, therapeutic surgeries, which is expected to boost the hemostats market in North America. Moreover, an increasing number of manufacturers commercializing hemostat products with enhanced modifications is another growth fostering factor.


Asia Pacific is expected to witness the highest growth in the market during the forecast period. High growth can be attributed to the growing demand in countries such as Japan, China, and India. Owing to the increasing disposable incomes across the region, leading to higher healthcare expenditure. Additionally, the growing rate of the geriatric population, coupled with an increasing prevalence of chronic conditions are a few of the important factors contributing to the robust growth of the region in terms of the hemostats market. Also, growing medical tourism in countries such as Japan and China will further propel market growth.


On the other hand, Europe is projected to hold significant revenue in the market because of the presence of several countries with a prevalence of chronic disorders such as cardiovascular diseases, orthopedic ailments and few others that require surgeries to be performed for better treatment. Moreover, the high growth countries, such as UK, Germany and France, will contribute to the growth of the European market. In Latin America, the market for hemostats is anticipated to undergo a sluggish growth comparatively. However, increasing awareness in key regions such as Brazil will drive the market in the future. The Middle East and Africa are expected to witness steady growth in the future on account of the rising prevalence and awareness of chronic conditions.  


INDUSTRY KEY PLAYERS


“Baxter & Ethicon to Account for More than Half of the Market in Terms of Revenue”


Baxter emerged as the leading player with the highest share in the global hemostatic agents market in 2017, as the company is engaged in realigning its diversification strategy to improve the accessibility of its key brands. A diversified product portfolio, established brand presence, and strong R&D focus in the hemostatic agents market are factors, responsible for its strong brand position in the market. The company also has a strong presence across the globe through a network of distributors and subsidiaries in the Asia Pacific, Latin America, and Africa.  


List Of Key Companies Covered:



REPORT COVERAGE


The hemostats market report presents a comprehensive assessment of the global market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per the market segments, helping our readers to get a comprehensive overview of the hemostats market.


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Along with this, the report provides an extensive analysis of the global market dynamics and competitive landscape and scenario. Various key insights presented in the report are the recent industry developments such as mergers & acquisitions, an overview of pricing by key countries, technological advancements, and key industry trends. Along with these, the other key insights include competitive landscape, and company profiles.


Report Scope & Segmentation











































 ATTRIBUTE



 DETAILS



Study Period



  2014-2025



Base Year



  2017



Forecast Period



  2018-2025



Historical Period



  2014-2017



Unit



  Value (USD million)



Segmentation



By Product Type



  • Active Hemostats

    • Thrombin based Hemostats

    • Fibrin Sealants



  • Passive Hemostats

    • Plant-based

    • Animal-based

    • Others



  • Combination Hemostats

  • Others



By   Application



  • Trauma

  • Cardiovascular Surgery

  • General Surgery

  • Plastic Surgery

  • Orthopedic Surgery

  • Neurosurgery

  • Others (OBGYN, Urology, transplant, etc.)



By  End User



  • Hospitals

  • Ambulatory Surgical Centers

  • Tactical Combat Casualty Care Centers

  • Others



By Geography



  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain,  Scandinavia, and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico, and Rest of Latin America)

  • Middle East and Africa ( South Africa, GCC, and Rest of the Middle East & Africa)



INDUSTRY DEVELOPMENTS:



  • June 2019: Ethicon received FDA approval for its VISTASEAL open and laparoscopic Dual Applicators, a next-generation device technology that can be utilized to address moderate surgical bleeding.

  • December 2018: Baxter International Inc., launched an additional curved applicator for Floseal, hemostatic agent with aim to expand its applications during ENT surgical procedures


Frequently Asked Questions

Fortune Business Insights says that this market was valued at USD 3.33 billion in 2017 and is projected to reach USD 5.44 billion by 2025.

In 2017, the North America market was valued at USD 1.17 billion.

Growing at a CAGR of 6.4%, the market will exhibit significant growth in the forecast period (2018-2025)

The passive hemostats segment is expected to be the leading segment in this market during the forecast period.

A significant increase in the number of surgeries and rising demand for hemostatic agents are the major factors driving this market.

Baxter and Ethicon are the top players in the market.

North America is expected to hold the highest market share in the market.

Increasing emphasis on blood clot management and technological advancements are the factors that are expected to drive the adoption of hemostatic agents.

Government guidelines for hemorrhage management and the use of hemostatic agents in minimally invasive surgeries are trends of this market.

Hemostatic Agents Market Size, Share and Global Industry Trend Forecast till 2026
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