The global hemostats market is expected to grow at a compound annual growth rate of 5.00% over the forecast period to reach a market size of US$2.677 billion in 2026, from US$1.903 billion in 2019.
Axio BioSolutions Private Ltd.
Medical Biomaterial Products GmbH
World Precision Instruments
Johnson & Johnson
Haemostats are the instrument used for preventing blood flow by compression of the blood vessels. Haemostats are applied using tissue sealants and tissue adhesion agents. When applied to a wound, quickly absorbs blood and other body fluids transform into a gel to seal the wound with a protective transparent layer, actively aids in stopping bleeding. Growth in the market may be attributed to the rising number of surgical procedures, rising number of regulatory approvals, and rising number of accidents.
Increased focus on blood loss management will also lead to the growth of the Hemostats market during the given forecast period. Growth in the number of hospitals and surgical centers across the globe will further require Hemostats for blood loss management, thus, boosting the market for Hemostats. The growing number of accidents leading to the surgery requirement will also support the Hemostats market.
However, the market may be restrained due to the high costs of the Hemostats during the given time frame. Major companies have been making significant developments in the market. With the rising investments in R&D, development, and the usage of new materials, an increasing number of hospitals are expected to play a major role in the overall market growth.
The increasing number of accidents.
The market is expected to surge in the coming years, due to the rising number of accidents, worldwide. According to the International Labor Organization, an estimated number of 2.3 million men and women, worldwide, succumb to work-related accidents, annually, which corresponds to more than 6000 deaths, daily. According to the World Health Organization, more than 1.3 million dies of road traffic crashes, annually. Road traffic crashes cost around 3% of the country's gross domestic product. Around 20 to 50 million people suffer from non-fatal injuries, from road accidents.
In the United States, according to the Insurance Institute for Health Safety, there were around 33,244 fatal motor vehicle crashes in the country, in the year 2019, out of which 36,096 deaths occurred. In India, according to the Ministry of Highways and Transport, the total number of accidents-related deaths was around 151,000 in the year 2019. Hemostats are used to stop the massive and excessive loss of blood from accidents. The medical director at Emergency Research and Management Institute stated that excessive bleeding is a major cause of death from the accident. The increasing usage of Hemostats by law enforcement, traffic control officials are expected to be a major factor in the market growth, in the coming years.
Increase in the number of surgical operations.
The market is expected to surge in the coming years, due to the rise in the number of surgical operations and procedures, worldwide. According to Eurostat, over one million cesarean sections were performed in the European Union in the year 2018. There has also been a rise in the number of kidney operations, globally.
According to the International Kidney Foundation, more than 3,000 novel patients are added to the kidney waiting list in the United States, per month. Every 14 minutes, someone has been added to the kidney transplant list. Hemostats is widely used in surgical operations. The products and the equipment are used to control and stop the flow of blood. With the rise in surgical operations and the development of advanced and world-class infrastructure, the market is expected to surge at an exponential rate in the coming years.
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Hemostats Market Analysis, By Type
5.2. Absorbable Hemostats
5.3. Non-absorbable Hemostats
6. Global Hemostats Market Analysis, By End-User
6.2. Hospitals and Clinics
6.3. Ambulatory Surgical Centers
7. Global Hemostats Market Analysis, By Geography
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
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