"We Envision Growth Strategies Most Suited
to Your Business"
The global hemostats market size is expected to generate USD 5.54 billion by 2027, while exhibiting a CAGR of 6.3% between 2020 and 2027. This is ascribable to factors such as increasing demand for surgical procedures across the globe. Fortune Business Insights, publish this information in its latest 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, 2020-2027.” The report further observes that the market was worth USD 3.72 billion in 2019.
Ethicon’s Novel Absorbable Adjunctive Hemostat Proving to be Effective
In March 2020, Ethicon, a Johnson & Johnson Medical Devices Subsidiary, announced its launch of a novel product, SURGICEL Powder Absorbable Hemostat. The company introduced its product in the countries such as New Zealand, Australia, and Thailand. In addition to this, the product is already available in Hong Kong and Singapore. According to the company, the innovative powdered absorbable adjunctive hemostat is manufactured to aid surgeons in efficiently controlling excessive bleeding during surgical operation. Furthermore, the medical instrument has a wide range of applications and is adopted across several surgeries such as cardiovascular, oncologic, general procedures, and gynecologic, among others. Ethicon, with its array of product launches has been striving to gain major chunk of the global hemostat market share and consolidating its position in the fiercely competitive landscape.
To get a detailed report summary and research scope of this market, click here:
Increasing Number of Surgical Procedures to Stoke Demand
Surgical procedures result in over 60% of cases wherein the patient suffers from disruptive bleeding. In addition to this, disruptive bleeding results in rising healthcare-related costs and is further associated with a high mortality rate across the globe. To counter the bleeding complication, hemostats are opted by the surgeons during the surgical procedures to limit the risk of bleeding complications largely. Therefore, an increasing number of surgical procedures are driving up the demand across the globe. According to the World Health Organization (WHO), every year about 2 million surgical procedures are performed across the globe. This is expected to drive the global market during the forecast period.
Extensive Product Portfolio of Baxter, Ethicon, and BD to Augur Growth
According to Fortune Business Insights, companies such as Baxter, BD (Becton, Dickinson & Company), and Ethicon majorly dominate the market. The strong and extensive product portfolio of these companies is propelling this market growth in the forthcoming years. Furthermore, the adoption of strategies such as innovative product launches, merger and acquisition, collaboration, and partnership by the companies is likely to bode well for the market growth between 2020 and 2027.
List of the Companies Operating in the Market:
Further Report Finding:
Global Hemostats Market Scope &Segmentation:
Value (USD billion)
By End User