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The global hemostats and tissue sealants market size is estimated to grow by USD 2,558.35 million at a CAGR of 10.18% between 2022 and 2027.
High use of hemostats and tissue sealants in surgeries. Adverse events such as bleeding and leakage of body fluids are involved in surgical procedures. The clinical consequences can lead to an increased risk of organ failure. These sealants are used in minimally invasive surgeries. Clinicians who are performing minimally invasive surgeries encounter internal hemorrhage. Furthermore, the efficient use of hemostasis and tissue sealing agents can also help control such events. As a result, hemostats and tissue sealants are extensively used in minimally invasive surgeries and percutaneous interventional procedures.
Technavio has segmented the market into Product, End-user, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges.
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Hemostats
The market share growth by the hemostats segment will be significant during the forecast period. A hemostat is a medical device used to achieve hemostasis by accelerating the clotting of blood. They are most frequently used to stop non-cauterized, non-saturable bleeding. There are four categories of hemostats in particular that have been defined by their mechanical, active, and flowable forms.
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The hemostats segment was valued at USD 1,913.46 million in 2017. Mechanical hemostats are based on gelatin, collagen, cellulose, and polysaccharides. They are applied as sponges and do not contain thrombin or any other active biologic compounds. The active hemostat is a topical, thrombin that stimulates the fibrinogen at the site of bleeding to cause clot formation. Flowable hemostatic agents are typically composed of either a porcine or bovine gelatin matrix and thrombin.
Hospitals
The hospitals segment plays a significant segment in the global hemostats and tissue sealants market. Hospitals perform a wide range of surgical procedures, including cardiovascular surgeries, orthopedic surgeries, general surgeries, and gynecological surgeries, among others. hemostasis and tissue-sealing agents are commonly required during these procedures for the purpose of controlling bleeding and sealing tissues. Hospitals, with their high surgical volume, are major consumers of these products. Hemostats are widely used in emergency departments to quickly stop bleeding in trauma patients and facilitate the stabilization process. The number of people is increasing, which means that more patients need to be surgically treated. There is also a corresponding increase in hospital surgery as the population grows. Hospitals handle a significant portion of these surgical procedures, driving the demand for hemostats and tissue sealants. Such factors are expected to drive the growth of the hospital segment of the global hemostats and tissue sealants market during the forecast period.
Ambulatory surgical centers
Ambulatory surgical centers (ASCs) are healthcare facilities that provide same-day surgical care to patients, allowing them to undergo surgical procedures and return home on the same day. With its cost-effectiveness, convenience, and efficiency in healthcare delivery, ambulatory surgery centers have become very popular over the last few years. The increasing utilization of ASCs for various surgical procedures, including minimally invasive surgeries, orthopedic surgeries, ophthalmic surgeries, and cosmetic surgeries, drives the demand for hemostats and tissue sealants in these facilities. In ASCs, hemostats and tissue sealants are required for the purpose of controlling blood flow and promoting tissue sealing so as to avoid complications and increase patients' quality of life. Manufacturers are developing innovative products with enhanced properties such as rapid hemostasis, strong sealing capabilities, reduced tissue trauma, and minimal adverse reactions, catering specifically to the needs of ASCs. Demand for hemostasis and tissue sealing agents in these centers is driven by the growing number of ASCs, as well as a corresponding increase in outpatient surgical procedures. Such factors are expected to drive the growth of the ASCs segment of the global hemostats and tissue sealants market during the forecast period.
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North America is estimated to contribute 46% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The US and Canada is the leading contributor to the growth of the hemostats and tissue sealants market in North America. Advanced medical infrastructure and an increasing number of surgical procedures are the key factors driving the growth of the market in this region. Furthermore, nearly 6 million spinal, cardiovascular, abdominal, and other major bleeding surgeries are performed in the US each year.
Moreover, the increasing prevalence of chronic diseases and associated risk factors such as aging have raised the number of surgical procedures performed. According to the World Bank Group, the number of people aged 65 and over in the US has raised from 40.15 million in 2010 to 56.54 million in 2020. Also, the presence of a high number of leading vendors drives market growth in North America. Such factors will drive the growth of the market in this region during the forecast period.
The outbreak of COVID-19 in North America led to the imposition of lockdowns in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions. Allowing patients to undergo needed surgical interventions, resulting in an increased need for hemostats and tissue sealants. Hence, these factors are expected to drive the growth of the regional hemostats and tissue sealants market during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Advanced Medical Solutions Group Plc - The company offers hemostats and tissue sealants under the brands, such as LiquiBand and ActivHeal.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
The increasing prevalence of chronic diseases and their related risk factors is driving the growth of the global hemostats and tissue sealants market. The rising geriatric population because of technological advancements in healthcare and the widespread availability of effective treatments is the major factor. Most NCD deaths, or 17.9 million individuals each year, are due to cardiovascular illnesses, followed by tumors (9.3 million), respiratory sicknesses (4.1 million), and diabetes (1.5 million).
Moreover, the risk factors related to smoking, liquor misuse, physical inactivity, and unhealthy diet are expanding, which can lead to the expansion of chronic diseases. Thus, the number of surgeries performed by clinicians is increasing globally, and rising the demand for hemostats and tissue sealants. Hence, such factors will drive the growth of the market during the forecast period.
The growth of oncology tourism is a primary trend in the market. In the US, some diagnostic procedures and treatment cycles are very expensive. Although, the same procedure may be less expensive in other nations like India. As a result, people are traveling to foreign destinations because of cost-effective quality treatment and care.
Furthermore, radiation therapy, medical oncology, chemotherapy, proton therapy, and immunotherapy are the common varieties of cancer treatment for which patients travel abroad. Thus, the growing trend of oncology tourism is likely to have a positive impact on the demand for hemostats and tissue sealants market during the forecast period.
Stringent government regulations regarding the manufacturing of hemostats and tissue sealants are a significant challenge that affects the growth of the market. Absorbable Hemostatic agents are intended to remain within the body and should not be disposed of once hemostasis has been achieved. In order to increase their effectiveness, a number of commercially available Hemostatic Agents could be coupled with Human Biologics. Due to the complexity of hemostatic agents and their combination use with biologics, absorbable hemostats are regulated with strict controls to ensure their safety and efficacy in their intended use and in their final form when introduced to a patient.
Furthermore, organizations submitting PMA for absorbable hemostatic specialists should give broad human clinical and animal information to gain approval for each specific indication. The PMA process also requires detailed information on validations, manufacturing sites, and lifecycle management. Hence, these factors are expected to impede the growth of the hemostats and tissue sealants market during the forecast period.
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The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Hemostats and Tissue Sealants Market Customer Landscape
The hemostats and tissue sealants market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Hemostats and Tissue Sealants Market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.18% |
Market growth 2023-2027 |
USD 2,558.35 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.63 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 46% |
Key countries |
US, Canada, Germany, UK, and China |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Advanced Medical Solutions Group Plc, B.Braun SE, Baxter International Inc., Becton Dickinson and Co., BioCer Entwicklungs GmbH, Cardinal Health Inc., CSL Ltd., CuraMedical BV, Hemostasis LLC, Integra Lifesciences Corp., Johnson and Johnson Services Inc., KATSAN KATGUT SANAYI VE TICARET A.S, Medtronic Plc, Pfizer Inc., Smith and Nephew plc, Stryker Corp., Teijin Ltd., Teleflex Inc., Tricol Biomedical Inc., and Vivostat AS |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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