The global market for hemostasis products presently features the rising introduction of innovative and technologically advanced products, increased patent expiries and the resulting surge in biosimilars and cheaper alternatives, and increased demand across developing economies. Factors such as the vast rise in trauma and surgery cases and the increased investment in research and development activities will help in the favorable development of the market in years to come.

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Transparency Market Research states that the global hemostasis products market will expand at a healthy 4.2% CAGR over the period between 2016 and 2024. Growing at this pace, the market, which had a valuation of US$5.35 bn in 2015, is expected to rise to US$7.73 bn in 2024.

Infusible Hemostats Presently Lead but Advanced Hemostats to Witness Promising Growth

Infusible hemostats are among the most common and widely used hemostatic products for a number of bleeding management practices performed on patients suffering from blood clotting disorders such as hemophilia, Von Willebrand disease (vWD), and dysfibrinogenemia. The segment thus held the largest share of over 47% in the global hemostasis products market in 2015. However, the segment is expected to lose its attractiveness and a vast share of its present share in the global market to the segment of advanced hemostats over the period between 2016 and 2024. Over this period, the market for advanced hemostats is expected to rise at a 6.9% CAGR, while segment of infusible hemostats will exhibit a meagre 07% CAGR.

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Hemostasis Products Used for Treatment of Hemophilia to Remain Key Contributor to Market’s Growth

Of the key application areas for hemostasis products, including trauma, surgery, hemophilia, myocardial infraction, stroke, and thrombosis, the use of hemostasis products for the treatment of hemophilia was the leading contributor to the global market’s overall revenues in 2015. The segment held an opportunity of US$5.35 bn in 2015 and is expected to witness growth at a substantial pace over the forecasting horizon as well. However, the applications of hemostasis products for the management of trauma cases will be the most promising application segment for the global hemostasis products over the period between 2016 and 2024. Over this period, the segment will expand at a 6% CAGR as compared to the comparatively moderate 4% CAGR that the hemophilia application segment is expected to exhibit.

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