The current analysis of Reports and Data, the hemostats market was valued at USD 2.11 billion in 2018 and is expected to reach USD 3.46 billion by the year 2026, at a CAGR of 6.2%. It is a surgical instrument that is used to control the flow of blood during surgical procedures. These surgical hemostats are used in the initial steps of surgery when an incision is performed. It can be used in various forms like sealants, topical hemostats, and mechanical instruments, which are meant for surgical use only. The major goal of a hemostat is the adhesion of wounds, to cease blood flow, and ensure rapid healing of the wound. The hemostat market is widely driven by the free fall in lifestyle due to which lifestyle-oriented diseases occur in many people. Various diseases, especially cardiovascular and orthopedic diseases, are treated through surgical procedures, which is extensively driving the market.
The new technological advancements have led the market to grow. Many companies such as Baxter, Ethicon (J&J), and others have invested in research and development for new innovative products of hemostats, making it effortless to use for the end users. These devices are economical and cost efficient, therefore anticipating market growth.
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The report provides a complete coverage of the recent mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others. To offer a clear understanding of the scope of the industry, competitive landscape and different progressive aspects are studied extensively in the report.
Key companies operating in the global market and profiled in the report include:
Johnson and Johnson, Baxter International, Pfizer, Integra Life Sciences, Z-Medica LLC, Abbott Laboratories, B. Braun Melsungen AG, CR Bard, Gelita Medical GmbH and Hemostasis LLC.
The report further offers insights into company overviews, business landscape, production and manufacturing capacity, product portfolio, financial standing, global market position, gross profit margins, SWOT analysis and Porter’s Five Forces analysis for each company. The report also covers feasibility analysis and investment return analysis to offer deeper insights into market landscape and industrial chain.
For the purpose of this report, Reports and Data has segmented the Hemostat market on the basis of product, application, formulation and region:
Product Outlook (Revenue in Million USD; 2016–2026)
- Thrombin-based hemostats
- Gelatin-based hemostats
- Collagen-based hemostats
- Combination hemostats
- Oxidized regenerated cellulose-based hemostats
Application Outlook (Revenue in Million USD; 2016–2026)
- General surgery
- Orthopedic surgery
- Cardiovascular surgery
- Reconstructive surgery
- Gynecological surgery
- Neurological surgery
- Other surgeries
Formulation Outlook (Revenue in Million USD; 2016–2026)
- Sheet & pad hemostat
- Sponge hemostats
- Matrix & gel hemostats
- Powder hemostat
End Use Outlook (Revenue in Million USD; 2016–2026)
- Hospitals
- Clinics
- Ambulatory centers
- Community healthcare
- Others
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The report discusses in detail the geographical spread of the market in key regions of the world including North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The report studies the region expected to dominate market growth over the forecast period. The report also talks about the key factors such as supply and demand ratio, production and consumption patterns, consumer demands, technological advancement, research activities, and presence of key players that can influence vital parameters such as market size, market trends, market share, and revenue generation in each region.
Further key findings from the report suggest
- North America is the leading consumer of the hemostats, further followed by the Asia-Pacific and Europe. Asia-Pacific is the fastest growing region with a CAGR of 7.0%. The increasing number of surgeries and changes in regulatory policies encourages the market in the region.
- A wide range of applications, continuous advancement in the product portfolio of companies such as Ethicon and Baxter international have widely driven the market. The products from these key players have received approval from the U.S. FDA as well as by other international organizations.
- Recently, in December 2018, Baxter introduced a surgical innovation, which, a disposable curved applicator which enhances the activity of Floseal. Floseal is a hemostat product by Baxter used for ENT procedures. This advancement has improved the efficacy of Floseal and made it the leading hemostat in the US.
- Recently, in May 2019, the FDA might loosen up the premarket expectations of certain collagen-based hemostats and shift them to class-II devices rather than class III devices. The recommendation was given by the general and plastic surgery devices panel. Ethicon (J&J) is against this recommendation stating that collagen-based hemostats are complex products and need strict controls to ensure safety.
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