According to Data Bridge Market Research new Market report, Global Hemostats Market “By Product Type (Thrombin-Based, Oxidized Regenerated Cellulose Based Hemostats, Combination Hemostats, Gelatin Based Hemostats, Collagen Based Hemostats), By Application (Surgery, Wound Closure), By End-User (Hospitals, Community Healthcare, Ambulatory Centers, Clinics), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast is projected to reach USD 5.04 billion by 2025, at a CAGR of 7.2% during the forecast period of 2018 to 2025.
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Blood vessel walls get disrupted during surgeries, leading to blood loss, which needs to get coagulated. This process of blood clot formation at the site of injury is known as hemostasis. Hemostat is the surgical device, which is used to stop bleeding or to control bleeding. It is basically used in the early phases of surgery for an initial incision that closes blood vessels until ligation. Hemostats offer temporary blockage by forming blood clot to control bleeding. According to the National Health Statistics Report by the Centers of Disease Control & Prevention, in 2011, around 201,748.3 million surgical and non-surgical procedures were performed in the U.S. The data also suggests that 28.6 million visits to ambulatory surgery cases were reported in the U.S.
Key players are making various technological advancements to establish their dominance in the market. For instance, in November 2016, Pentax Medical launched a HemoStat WideCup, which is a bipolar hemostatic forceps. This product helps in achieving easy control of bleeding during endoscopic therapy procedures of gastric cancer.
The global market for hemostats by the following sub-categories is presented
Increasing number of surgeries:
Increasing surgical procedures across the world are projected to drive the growth of the market.
According to the Health and Social Care Information Centre, surgery is one of the most important treatment offered by NHS care in the U.K. it was seen that around 4.7 million surgeries were perform around multiple medical domains in U.K in 2013-2014. Hemostats is creating a massive customer base as the use of hemostats doesn’t require any technical expertise. These can be used even at smallest clinics. Hemostats is not only used in trauma injury surgical procedures but also widely used in open heart surgery, hernia repair surgery, joint repair surgery, cardiovascular surgery, and other neurologic surgeries. According to the American Joint Replacement Surgery, in 2016 around 427,181 total joint replacement surgeries were performed in United States.
According to National Center for Health Statistics, 48 million surgical inpatient procedures were performed in the United States in 2009. The statistics for other surgeries performed in 2009 are, Nervous system surgeries: 1.2 million, eye surgeries: 69,000, ear surgeries: 24,000, nose, mouth, and pharynx surgeries: 289,000, respiratory system surgeries: 1.3 million, cardiovascular system surgeries: 7.3 million, digestive system surgeries: 6.1 million, urinary system surgeries: 1.1 million, musculoskeletal system surgeries: 5.2 million, integumentary system surgeries: 1.4 million.
With the increasing prevalence of disease, the number of surgical procedures is increasing every year.
Increasing number of trauma and accident injury cases:
According to center for disease and prevention, number of people die from an injury each year are around 214,000. 2.8 million people were hospitalized due to injuries in 2015. 27.6 million people were treated in an emergency department for injuries in 2015. And this number is expected to be doubled by 2030.
According to PTSD statistics, 70% of adults in the U.S. have experienced some type of traumatic event at least once in their lives. This is equal to approximately 223.4 million people.
With the increases in population there are more chances of increase in cases of road crashes and trauma, which are providing an inclining growth to this market in future.
Some of the major market players in this market are Johnson & Johnson Services, Inc, C. R. Bard, Inc, Baxter, B. Braun Melsungen AG, Pfizer Inc, VASCULAR SOLUTIONS, INC, GELITA MEDICAL, Equimedical, Integra LifeSciences, Z-Medica, LLC, Marine Polymer Technologies, Inc, Anika Therapeutics, Inc, RESORBA Medical GmbH, Arch Therapeutics, Inc, CryoLife, Inc, Gamma Therapeutics, Inc, Hemostasis, LLC, MedTrade Products Limited, CSL among others.
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