Life-threatening diseases are increasing among the population,
requiring constant medical support through surgeries. Despite the
rising preference for minimally invasive treatments, the focus on
reducing patients' blood loss drives the demand for hemostasis
products.
WILMINGTON, Del., July 17, 2024 /PRNewswire/ -- The progress
of the global hemostasis market is attributed to various
drivers that will elevate the size of the industry from
USD 2.5 billion, measured in
2023, to USD 4.5 billion by
2034. Owing to multiple trends and market drivers, the progress of
the competitive landscape is estimated to traverse a moderate
advancement path, projecting a CAGR of 5.7% through the
forecasted period.
With the growing number of accidental cases, the number of
surgeries required is proliferating. Due to this rising number, the
demand for hemostasis products is expected to increase, which will
likely drive the global landscape. The rising number of chronic
diseases is expected to fuel the demand for surgical
interventions.
This will fuel the demand for hemostasis products to reduce
blood loss during surgeries. Orthopedic disorders are expected to
drive the momentum toward the global hemostasis products realm.
With the rising demand in new and emerging sectors, such products
will cover a wider spectrum, creating prospects for key
players.
The elevation of safety features and rising precision in drug
delivery systems will likely augment products in the industry. The
growing field of biotechnology will also help the proliferation of
the products portfolio, driving the demand for the sector. The
growing research and development activities in the competitive
landscape will help leading manufacturers augment products.
Innovations will elevate the overall efficiency of drug delivery,
increasing the demand for products.
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Hemostasis is the body's natural response to an injury that
results in bleeding. This response halts the bleeding and enables
the body to begin healing the wound. It is a multi-step process
that causes a bleeding artery to form a plug that seals off the
damaged area and stops the blood flow. In order to achieve
hemostasis, different types of inorganic materials,
metal-containing compounds, synthetic polymers, and natural
polymers are used. Examples of natural polymers used in the medical
industry for hemostasis include chitosan, cellulose, hyaluronic
acid, alginate, collagen, and fibrin.
Further, materials such as peptides, polyurethane, polyvinyl
alcohol, polyethylene glycol are used to manufacture synthetic
hemostatic materials. It is interesting to note that the type of
hemostatic material to be used is strongly dependent on its
mechanism of action. For instance, hemostatic materials in the form
of hydrogels encourage clotting through thickening the blood and
raising the concentration of platelets and clotting factors. These
substances absorb water and then swell, creating a local
compression effect.
An astounding 310 million major surgical procedures are carried
out annually across the globe, with 20 million occurring in
Europe and 40–50 million in the
U.S. Estimations suggest that 1-4% of these patients encounter
mortality, while 15-25% experience significant postoperative
morbidity. Additionally, 15-25% of these patients are readmitted
within 30 days of the procedure. At 15% of all trauma deaths,
post-traumatic hemorrhage ranks as the second most common cause of
trauma-related mortality in humans. The rising number of surgical
procedures worldwide, coupled with the expanding geriatric
population of the globe is poised to bolster the hemostasis
products market. The recent years has witnessed the advent of a
number of external hemostasis products, examples of which include
QuikClot powder, advanced coagulation sponge, and combat gauze.
These hemostats are developed based on materials such as kaolin and
zeolite, chitosan, gelatin, alginate, collagen, and others and are
known to function by promoting hemostasis through physical
compression or by triggering the coagulation cascade. In this
context, in November 2023, Ethicon
announced that it received the CE mark for ETHIZIATM, an adjunctive
hemostat solution, clinically validated to achieve sustained
hemostasis in case of severe bleeding complications.
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Technological development is another crucial factor that governs
the growth of the ecosystem. As mentioned before, the development
of biotechnology will aid elevated features for drug delivery
systems. This factor will drive the demand for hemostasis products.
Government initiatives to bolster the healthcare infrastructure
will benefit key players. More prospects will be generated in the
industry, which can be used to expand in the industry, benefiting
the market.
Key Findings from the Market Report
- The competitive landscape of hemostasis products can be
categorized into many segments. Based on products, topical
hemostasis products are expected to gain the highest traction. This
is due to the ability of products to administer the agent
locally.
- To cater to internal injuries and control internal blood loss,
infusible hemostasis products are used. This segment is gaining
traction due to such cases.
- Based on the application segment, surgery is the category
generating the highest revenue for the industry. The rising number
of surgeries is fueling the demand for the segment.
- Based on the end-user industry, hospitals are found to hold the
highest market share. Due to the cutting-edge facilities in
hospitals, the demand for hemostasis products is expected to
rise.
Regional Profile
- Due to the development of the healthcare infrastructure in
North America, more prospects will
be created for leading players.
- With the growing geriatric population in Asia-Pacific, the demand for hemostasis
products will likely spur in the region.
- Governments in European countries emphasize research for the
healthcare system. Due to this, the prospects for the market in the
region are optimistic.
Hemostasis Products Market Report Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 2.5 Bn
|
Forecast (Value) in
2034
|
US$ 4.5 Bn
|
Growth Rate
(CAGR)
|
5.7 %
|
No. of
Pages
|
213
Pages
|
Segments
covered
|
By Product, By
Application, By End- User, By Region
|
Competitive Landscape
With several organizations cluttering the competitive landscape,
innovation is a key mode of expansion adopted in the industry.
- Pfizer, Inc. is a key player, which produces respiratory
syncytial virus vaccine, quinapril HCI, hydrochlorothiazide, and
many other products.
- Baxter International, Inc. manufactures advanced surgical
instruments, syringes, infusion systems, IV and irrigation
solutions, and various other products. The organization also
operates in different industry verticals.
- Medtronic plc. is another key player operating in various
verticals. The business produces ablation products for arrhythmias,
electrosurgical products, smoke evacuation systems, and several
other products.
Key Developments in the Hemostasis Products Market
- In February 2024, Pfizer,
Inc., along with The American Cancer Society, announced a
USD 15 million aid to bridge the gap
in cancer care disparities. This collaboration is made for the next
three years.
- In April 2024, Baxter
International, Inc. introduced new injectable products in
the United States. This products
launch bolstered the position of the organization, thereby
diversifying the products portfolio.
Key Players
- Pfizer Inc.
- Baxter International Inc.
- Medtronic plc.
- Abbott
- B. Braun Melsungen AG
- Johnson & Johnson (Ethicon)
- CSL
- Becton, Dickinson, and Company
- Precision Biologics
- Sysmex Corporation
Market Segmentation
Products
- Topical Hemostasis Products
- Oxidized Regenerated Cellulose
- Gelatin
- Polysaccharides
- Collagen
- Infusible Hemostasis Products
- Factor VIII
- Platelet Concentrate from Donor Blood
- Prothrombin
- Fresh Frozen Plasma (FFP)
- Advanced Hemostasis Products
- Thrombin
- Flowable
- Synthetic Sealants
- Fibrin
Application
End User
- Hospitals
- Ambulatory Surgical Centers
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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