Meticulous Research®, a premier global market research firm, has published an insightful report titled, "Hemostats Market Size, Share, Forecast, & Trends Analysis by Type (Gelatin, Collagen, Thrombin, Fibrin, Synthetic Sealant, Gauze), Form (Sheet, Powder, Gel), Application (Orthopedic, General, Cardiovascular, Dental, Trauma), End User - Global Forecast to 2031."
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Market Overview and Growth Projections
According to the latest report from Meticulous Research®, the global hemostats market is anticipated to reach $5.32 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 6.9% during the forecast period. The market's expansion is driven by several factors, including:
• An increasing volume of surgical procedures.
• High R&D investments in the surgical devices sector.
• Rising incidence of accidents and trauma.
• Growth in the number of cesarean deliveries and organ transplants.
• Enhanced R&D activities by governmental and private sectors.
• Increased government healthcare expenditure.
• Growing adoption of minimally invasive surgical techniques.
• Advancements in dental hemostatic agents.
• Heightened demand for preloaded applicators and ready-to-use hemostats.
Despite these drivers, market growth is tempered by allergic reactions to hemostatic materials and the high manufacturing costs associated with hemostats.
Key Market Players
Prominent companies in the hemostats market include:
• Baxter International Inc. (U.S.)
• Pfizer Inc. (U.S.)
• B. Braun Melsungen AG (Germany)
• C. R. Bard, Inc. (U.S.)
• Integra LifeSciences (U.S.)
• Medtronic plc (Ireland)
• CSL Behring (U.K.)
• Gelita Medical GmbH (Germany)
• Grifols, S.A. (Spain)
• Abbott Laboratories (U.S.)
• CryoLife (U.S.)
• Ethicon, Inc. (U.S.) (A subsidiary of Johnson & Johnson)
• Becton, Dickinson and Company (BD) (U.S.)
• Advanced Medical Solutions Group plc (U.K.)
Market Segmentation and Future Outlook
The report segments the hemostats market based on type, application, form, end user, and geography.
• By Type: The market is categorized into absorbable hemostats (mechanical/passive agents like gelatin-based hemostats, collagen hemostats, and oxidized regenerated cellulose hemostats; flowable and active agents like thrombin-based hemostats and combination hemostats; and other absorbable hemostats) and non-absorbable hemostats (fibrin sealants, synthetic sealants, hemostatic gauze, and hemostatic forceps). The absorbable hemostats segment is expected to dominate in 2024 due to their versatility and effectiveness in controlling mild bleeding.
• By Application: Segmentation includes surgery (orthopedic, general, gynecology, cardiovascular, neurosurgery, plastic, and other surgeries), dental treatments, and traumatic injury. The surgery segment is projected to hold the largest market share in 2024, driven by the increasing number of surgeries and the effectiveness of hemostats in emergency wound care.
• By Form: The market is divided into sponges and dressings, sheets and pads, powder, matrix and gel, and tools. The matrix and gel segment is expected to lead in 2024 due to their cost-effectiveness, ease of application, and biocompatibility.
• By End User: The primary end users are hospitals & clinics, ambulatory surgical centers, and nursing homes. Hospitals & clinics are anticipated to dominate the market in 2024, owing to the high volume of surgeries and favorable reimbursement policies.
Geographical Analysis
The report provides a detailed geographical analysis, covering North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to hold the largest market share in 2023, led by the U.S. due to its established healthcare infrastructure, favorable policies, and significant presence of key market players.
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