The Global Hemostasis Products Industry is on track for substantial expansion, with a projected valuation of US$1.58 billion in 2023 and expected growth beyond US$2.65 billion by 2033, according to a recent report by Future Market Insights (FMI). This impressive growth trajectory is anticipated to unfold at a steady Compound Annual Growth Rate (CAGR) of 5.3% during the forecast period.
High-level technological advancements, strong economies, and a swarming pool of patients with a variety of blood disorders are the chief factors that will boost the market for hemostasis products shortly. The leading causes of surgeries are cardiovascular disease and stroke, cancer, and injury. And any surgical procedure can develop severe complications and result in uncontrollable bleeding thus increasing the demand for hemostasis products.
The rapidly growing medical tourism sector coupled with the high investment made by governments of various countries towards the growth of the healthcare sector will provide lucrative opportunities for the growth of the market. The high expenses related to hemostasis products and stringent regulatory policies and the use of off-label products are projected to restrain the market’s growth over the forecast period.
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The topical hemostasis product segment is likely to offer remunerative opportunities for the Global Hemostasis Products Industry. Several emerging economies are making significant developments in their technological sector, thereby, providing lucrative opportunities to players in the market.
Global Hemostasis Products Industry Key Takeaways:
- The Global Hemostasis Products Industry is estimated at USD 1,501 Million in 2021
- By product, the topical hemostat segment accounts for a market share of 68.5% in 2021
- By application, the myocardial infarction segment accounts for the highest market share of 19.5% during the forecasting period.
- Market in the U.S to procure a market share of 29.5% during the assessment period.
“The increasing number of trauma and surgical cases, technological advancements in the fields of hemostasis products, and an increase in the prevalence of blood disorders are expected to fuel the demand for Global Hemostasis Products Industry over the forecast period” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
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Competitive Landscape
- Medtronic
- Johnson & Johnson
- Baxter International
- Pfizer Inc.
- Becton Dickinson and Company (BD)
- B. Braun Melsungen AG
- Tricol Biomedical
- Hemostasis LL
- Teleflex Incorporated
- CuraMedical BV
Recent updates from the industry are:
- In July 2021- Baxter International Inc announced its Baxter Healthcare Corporation subsidiary has completed the acquisition of certain assets related to PerClotPolysaccharide Hemostatic System from CryoLife, Inc. The transaction reinforces Baxter’s strategy of acquiring products and technologies that both complement and augment the company’s leading portfolio across the hospital, including in the operating room. PerClot has a global commercial presence with sales in more than 35 countries worldwide.
- Hemostasis is committed to producing high quality medical devices that are safe and effective for their intended use. Hemostasis introduced. BoneSeal bone hemostat is a new generation, absorbable solution providing immediate and long-term hemostasis without immediately dissolving. BoneSeal hemostat works quickly and delivers better results for you and your patients.
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Key Segments Covered in the Hemostasis Products Industry Analysis
Global Hemostasis Products Industry by Product:
- Topical Hemostasis Products
- Gelatin
- Polysaccharides
- Oxidized Regenerated Cellulose
- Collagen
- Infusible Hemostasis Products
- Platelet Concentrate from Donor Blood
- Fresh Frozen Plasma (FFP)
- Factor VIII
- Prothrombin
- Advanced Hemostasis Products
- Flowable
- Thrombin
- Synthetic Sealants
- Fibrin
Global Hemostasis Products Industry by Application:
- Hemostasis Products for Trauma
- Hemostasis Products for Surgery
- Hemostasis Products for Hemophilia
- Hemostasis Products for Myocardial Infarction
- Hemostasis Products for Others
Global Hemostasis Products Industry by End Use:
- Hemostasis Products in Hospitals
- Hemostasis Products in Ambulatory Surgical Centers
- Hemostasis Products in Others
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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