Hemostats Market to Exhibit 7.6% CAGR from 2023 to 2030; Advancements in Hemostats Address Bleeding Risks, Paving the Way for Enhanced Surgical Interventions

The global hemostats market size was valued at USD 4.46 billion in 2022. The market is projected to grow from USD 4.75 billion in 2023 to USD 7.94 billion by 2030, exhibiting a CAGR of 7.6% during the forecast period. Fortune Business Insights™ presents this information in its report titled “Hemostats Market Size, Share & COVID-19 Impact Analysis, By Product (Active Hemostats, Passive Hemostats, Combination Hemostats, and Others), By Application (Trauma, Cardiovascular Surgery, General Surgery, Plastic Surgery, Orthopedic Surgery, Neurosurgery and Others), By End-User (Hospitals & ASCs, Tactical Combat Casualty Care Centers, and Others), and Regional Forecast, 2023-2030”.

The increasing prevalence of chronic diseases and surgical procedures drives the demand for hemostats to control bleeding during surgeries. Innovations and regulatory approvals for new products also fuel market growth as surgeons rely on these products to minimize bleeding complications during procedures. These factors are anticipated to increase the hemostats market share during the forecast period.

Lowered Non-Essential Surgery Rates Plummeted Market amid Pandemic

The COVID-19 pandemic caused a significant decline in non-essential surgery rates globally, as non-essential surgical procedures such as plastic surgery was postponed or canceled due to safety measures and essential treatment prioritization. This decline was further exacerbated by social distancing protocols, regulatory actions, and the closure of cosmetic surgery clinics during the pandemic.

BD Expands Medical Solutions Portfolio with Acquisition of Tissuemed

BD successfully finalized the acquisition of Tissuemed in December 2021, a pioneering developer of self-adhesive surgical sealant film. Notably, Tissuemed's flagship product, Tissuepatch, has been instrumental in averting post-surgical incision leaks and managing internal hemorrhaging. This strategic acquisition has significantly broadened BD's portfolio, allowing the company to provide an even more comprehensive range of medical solutions to its clientele.

Growing Number of Medical Institutions Fueled by Surgical Demand Drives Hemostatic Products Market

The global market is witnessing a trend of continuous growth in the number of medical institutions to meet patient surgical needs, driving the sustained demand for efficient hemostatic products. For example, the U.S. saw an increase in hospitals to 6,129 in 2022, and the rising number of procedures, such as coronary artery bypass graft surgeries, further contribute to the demand for hemostatic agents.

However, the limited adoption of the product is hindered by clinical limitations, bleeding complications during surgical procedures, and high costs, impacting hemostats market growth.

Established and Emerging Companies Engage in Mergers and Acquisitions to Strengthen Market Position

In the market's competitive landscape, a monopolistic competition framework is evident, featuring a multitude of companies, encompassing both well-established and emerging entities. Notably, these companies are proactively engaging in diverse strategic pursuits, including initiatives such as mergers, acquisitions, and collaborations, as mechanisms to fortify their market position. During the forecast period, it is anticipated that specific players are projected to emerge as potent market contenders, driven by their amplified regulatory approvals, facilitating the introduction of novel products.

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https://www.fortunebusinessinsights.com/industry-reports/hemostats-market-100084

Key Industry Development

• April 2019: Baxter received U.S. FDA approval for the latest version of their FLOSEAL product, unveiled at the Association of periOperative Registered Nurses (AORN) conference.

List of Key Players Profiled in the Report:

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  • Baxter (U.S.)
  
  
  • Integra LifeSciences (U.S.)
  
  
  • Stryker (U.S)
  
  
  • Artivion, Inc. (U.S.)
  
  
  • Biom'up (U.S.)
  
  
  • BD (Becton, Dickinson and Company) (U.S.)
  
  
  • Medtronic (Ireland)
  
  
  • Johnson & Johnson Services, Inc. (U.S.)
  
  
  • Pfizer Inc. (U.S.)
  
  
  
  

Further Report Findings:

• In 2022, North America's hemostats market size reached USD 1.56 billion, driven by advanced product adoption, surgical volumes, and FDA approvals, solidifying its global dominance. Europe follows as the second-most significant market, buoyed by strong healthcare spending and surgical demand for advanced products.


• The active and passive segments are poised for strong CAGRs, driven by their diverse product offerings and heightened adoption of advanced active products. In February 2022, Futura Surgicare Pvt. Ltd. launched Hemostax (Oxidised Regenerated Cellulose), enhancing bleeding control for surgeons.


• The cardiovascular and trauma segments are expected to achieve the highest CAGR due to the rising prevalence of cardiovascular diseases necessitating surgery and increased traumatic incidents globally.


• The dominant role of hospitals & ASCs is attributed to the prevalence of surgical procedures in hospitals across developed and developing countries, owing to their well-equipped environment for complex interventions.

Table of Segmentation