U.S. Hemostats Market, By Type (Combination Agent Hemostats, Thrombin Based Hemostats, Collagen Based Hemostats, Oxidized Regenerated Cellulose Based Hemostats and Gelatine Based Hemostats), Formulation (Matrix and Gel Hemostats, Sheet and Pad Hemostats, Sponge Hemostats and Powder Hemostats), Application (Wound Closure and Surgical Hemostats), Distribution Channel (Direct Tender and Third Party Distributors), End Users (Hospitals, Ambulatory Centres, Community Healthcare, Clinics, and Others), Country (U.S.) Industry Trends and Forecast to 2028
Market Analysis and Insights: U.S. Hemostats Market
The U.S. hemostats market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 7.4% in the forecast period of 2021 to 2028 and is expected to reach USD 1,493.86 million by 2028.
Hemostats are used to prevent and control bleeding of veins and arteries during surgeries. A haemostatic agent is a powder, granules, a dressing, or medical or surgical equipment applied directly to a wound or during the surgery to avoid blood loss. There are different types of haemostasis agents used for hemostats as thrombin-based, collagen-based, gelatine-based, and many more. These agents have different benefits in reducing blood loss and decreasing complications during surgery. These hemostats comprise an absorbent substance that was developed to absorb and trap red blood cells. If the dressings and hemostats are placed deep within the wound, it is believed that they help to arrest haemorrhaging by promoting the natural clotting ability of the blood. Hemostats were intended to use in clamping small blood vessels for haemorrhage control. Another use of hemostats is to grasp and secure superficial fascia through dejection and debriding wounds. Also, they are an excellent tool for exposing, exploring, and visualizing the deeper areas of a wound.
The increase in chronic diseases and geriatric population in the U.S are the major drivers that propelled the market's demand in the forecast period. Also, an increase in advancement in technology is driving the market growth. However, the cost of hemostats is restraining the market growth. The companies have increased their production capacities, and various agreements between them are expected to act as opportunities for the growth of the hemostats market. However, the side effects of hemostats as allergy, swelling, and others, are challenging the market growth.
The U.S. hemostats market report provides details of market share, new developments, and product pipeline analysis, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario, contact us for an Analyst Brief; our team will help you create a revenue impact solution to achieve your desired goal.
U.S. Hemostats Market Scope and Market Size
The U.S. hemostats market is segmented based on type, application, formulation, end users, and distribution channel. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the U.S. hemostats market is segmented into combination agent hemostats, thrombin based hemostats, collagen based hemostats, oxidized regenerated cellulose based hemostats, and gelatine based hemostats. In 2021, the combination agent hemostats segment is expected to dominate the U.S. hemostats market as they have better coagulation power than others.
- On the basis of formulation, the U.S. hemostats market is segmented into matrix and gel hemostats, sheet and pad hemostats, sponge hemostats, and powder hemostats. In 2021, the sheet and pad hemostats segment is expected to dominate the U.S. hemostats market due to an increase in blood-related complications during surgery. These hemostats tend to reduce complications.
- On the basis of application, the U.S. hemostats market is segmented into wound closure and surgical hemostats. In 2021, the surgical hemostats segment is expected to dominate the U.S. hemostats market with the increasing technological advancement and government initiatives to raise the use of hemostats.
- On the basis of end-users, the U.S. hemostats market is segmented into hospitals, community healthcare, ambulatory centres, clinics, and others. In 2021, the hospital segment is expected to dominate the market due to the growing demand for hemostats in hospitals.
- On the basis of distribution channel, the U.S. hemostats market is segmented into direct tender and third party distributors. In 2021, the direct tender segment is expected to dominate the U.S. hemostats market as all the products are available in large quantities, and the criteria to enter the tender are simpler.
U.S. Hemostats Market Country Level Analysis
The U.S. hemostats market is segmented based on type, application, formulation, end users, and distribution channel. The country covered in the U.S. hemostats market report is the U.S.
The U.S. hemostats market is growing primarily due to increasing FDA product launches and advancements in technology, a rise in surgeries procedures, and increasing demand for hemostats.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as sales, FDA approvals, country demographics, regulatory acts, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of U.S. brands and generic drug manufacturers and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
Increase in Healthcare Expenditure is Propelling the U.S. Hemostats Market
The U.S. hemostats market also provides you with a detailed market analysis for every country's growth with hemostats sales, the impact of advancement in the market, and changes in regulatory scenarios with their support for the hemostats market. The data is available for the historical period 2010 to 2019.
Competitive Landscape and U.S. Hemostats Market Share Analysis
The U.S. hemostats market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width, and breadth, application dominance, technology lifeline curve. The above data points are only related to the companies’ focus on the U.S. hemostats market.
The major players covered in the U.S. hemostats report are Johnson & Johnson Services, Inc., Baxter, BD, B. Braun Melsungen AG, Teleflex Incorporated, Pfizer Inc., Arch Therapeutics, Inc., Biom’Up, Hemostatis LLC, CyroLife Inc., 3-D Matrix Ltd., Integra LifeSciences, L&R Group, Marine Polymer Technologies, Inc., Medtrade Products Limited, Meril Life Science Pvt. Ltd., RESORBA Medical GmbH, Starch Medical, Inc., Stryker, Unilene, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launches, approvals, partnerships, and agreements are initiated by companies worldwide, which accelerates the U.S. hemostats market.
For instances,
- In February 2021, Pfizer Inc. announced its partnership with IDA Foundation, an independent social enterprise. This partnership was done to provide essential medicines for quality cancer treatments in 70 developing countries. They focused on reaching low and middle-income countries in Asia, Africa, and other regions. This improved company’s global position and reputation, thereby increasing market share
- In June 2021, Stryker announced its partnership with Texas Health Hospital Mansfield. The hospital will be adopting the full suite of Stryker products to support its journey to eliminate harm for healthcare providers and patients in the operating room. This will help the company to increase sales in the future
Collaboration, joint ventures, and other strategies by the market player are enhancing the company market in the warts treatment market, which also benefits the organization to improve their offering for the U.S. hemostats market.
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