The Global Hemostatic Gels Industry is poised for significant growth, with a projected valuation of US$1.9 billion by 2032. This positive trajectory is fueled by a robust Compound Annual Growth Rate (CAGR) of 6.8%, according to in-depth research by Future Market Insights (FMI), a leading market intelligence and consultancy firm.
In 2021, the market was valued at US$957.1 million. The projected CAGR of 6.8% indicates a steady and significant rise in the adoption of hemostatic gels over the next decade.
FMI’s study, executed by industry experts, not only foresees substantial growth but also reveals key market trends that will shape the industry’s landscape in the years to come. One standout revelation from the analysis is the outstanding performance of porcine-based hemostatic gels, dominating the market with a substantial 45% share in 2021. This highlights the escalating preference for porcine-derived solutions, emphasizing their efficacy in hemostasis and solidifying their dominance in the market.
The global demand for advanced hemostatic solutions is steadily rising, triggering a paradigm shift in the industry, with porcine-based products emerging as the frontrunners. This growth is fueled by their proven effectiveness in hemostasis, further establishing their stronghold in the market.
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Globally, around 2,000,000 people die from hemorrhage each year, out of which approximately 1,500,000 deaths are due to trauma injuries. Similarly, every year almost 60,000 people die in the U.S. due to hemorrhaging and blood loss. These figures indicate the need for hemostatic gels during surgical procedures to improve clinical outcomes.
Global Hemostatic Gels Industry Key Takeaways:
- Based on product type, sales of porcine-based hemostatic gels are expected to grow at a 6.8% CAGR through 2032.
- In terms of indication, the cardiovascular surgery segment is expected to account for 33.1% of the total market share over the assessment period.
- By end users, demand for hemostatic gels across hospitals will increase at a 5.4% CAGR during the forecast period.
- The U.S. dominated the North American hemostatic gels market in 2021, holding 82% of the total market share.
- Demand for hemostatic gels in India is forecast to grow at a 7.4% CAGR over the assessment period.
- Sales in the U.K. hemostatic gels market are expected to increase at a 7.1% CAGR through 2032.
- China will emerge as a lucrative pocket, with demand growing at an 8% CAGR over the forecast period.
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“Rising adoption of effective hemostatic gels across various industries for the protection of the workforce is expected to fuel demand in the market. In addition to this, rising awareness regarding the usage of hemostatic gels for blood loss management across emerging economies will augment the growth in the market,” says Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.)
Clotting agents are medical devices used to stop bleeding in a variety of clinical settings, including surgical procedures, emergency situations, and trauma care. These gels work by promoting the clotting process, which is essential to prevent excessive blood loss.
Global Hemostatic Gels Industry Competition Landscape:
Key players operating in the Global Hemostatic Gels Industry are adopting strategies such as product launches, mergers & acquisitions, joint ventures, and R&D activities to improve their global presence. For instance:
- In 2019, Baxter International, Inc. introduced Floseal Hemostatic Matrix, its new hemostatic agent. Floseal Hemostatic Matrix U.S.FDA approved and is used to stop bleeding during surgical procedures.
- In 2021, Medcura, Inc. together with ASO LLC launched Rapid-Seal, a new class of antibacterial hemostatic gel. This product meets the market demand for a transparent gel that will be easily applied during surgeries.
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Global Hemostatic Gels Industry Key Companies Profiled:
- Baxter
- Bio-Chem LLC
- Clinician’s Choice Dental Products Inc.
- Cresilon, Inc.
- DSI Ltd.
- ENDOVISION CO., LTD
- Ethicon US, LLC
- F&A Medical
- PrevestDenPro
- Septodont
- Teleflex Incorporated
- Ultradent Products Inc. All
- VladMiVa
- Medcura, Inc.,
Key Market Segments Covered In Global Hemostatic Gels Industry Research
By Material:
- Bovine-Based
- Porcine-Based
- Polymer-Based
By Indication:
- General Surgery
- Dental Surgery
- Veterinary Surgery
- Cardiovascular Surgery
- Orthopaedic Surgery
- Others
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By End-User:
- Hospitals
- Specialty Clinics
- Veterinary Settings
- Ambulatory Surgical Centers
- Online Sales
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 clients face 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 team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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