Global Hemostats Market Report and Forecast 2024-2032

Global Hemostats Market Outlook

The global hemostats market size was valued at USD 2.9 billion in 2023, driven by increasing incidence of surgical procedures across the globe. The market is expected to grow at a CAGR of 6.4% during the forecast period of 2024-2032, with the values likely to rise from USD 3.1 billion in 2024 to USD 5.2 billion by 2032.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Hemostats Market Overview

With the rising number of chronic diseases, surgical procedures have seen a significant upswing in recent years. As hemostats find relevant applications across various healthcare domains, there has been rising awareness and effectiveness of hemostats. The market is driven by an increasing influx of new products based on different formulations to address a variety of conditions in the patients. With technical advancements, there has been high research and preference for using nature-based ingredients to leverage their natural benefits. In addition, rising adoption of biopolymers and nanoparticles in hemostats is also expected to boost the market value in coming years.

New Product Launches to Meet the Rising Hemostats Market Demand

The growth of the market is driven by significant product launches that integrate innovative and multiple polymers to minimize immunological side-effects and potential risk of infections. In May 2023, Artivion announced that their Absorable Hemostatic System, PERCLOT received FDA approval for premarket application. This product has been acquired by Baxter to expand their active and passive hemostat portfolio. PERCLOT contains absorbable polysaccharide granules that expediate the intrinsic clotting cascade by rapidly absorbing water from the blood, resulting in a high concentration of platelets, red blood cells, and coagulation factors.

Increasing Prevalence for Natural Products

Researchers are working on fusing natural polymers with synthetic polymers to enhance the quality of hemostatic agents. For instance, fibroin, a silk protein, does not have hemostatic potential because it lacks functional groups that encourage clotting. However, porous films created through the electrospinning of silk fibroin can be co-processed with synthetic polymers to improve efficacy. In June 2023, Cresilon Inc., received U.S. FDA clearance for their new Cresilon Hemostatic Gel (CHG) which incorporates polymers derived from algae plants. As key companies continue to bring novel and improved solutions for the patients, the hemostats market size is predicted to increase exponentially.

Surge in Technical Integration to Provide Effective Solutions

Modern machines are being designed to mimic the body's internal mechanisms, functioning as artificial counterparts. The MIT engineers are working on developing a two-component system. When injected into the body it leads to blood clot formation at the site of internal injury. The research involves the use of nanoparticles, constructed from a biocompatible polymer known as PEG-PLGA functionalized with a peptide called GRGDS and a polymer that emulates the actions of fibrinogen, contributing to artificial clotting. Continuous upgradation and technological integration into the medical ecosystem are expected to boost hemostats market growth in the forecast period. As this technology proceeds, it may lead to the development of next-generation combination hemostats that offer not only effective hemostasis but also targeted and precise clotting at the molecular level.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Hemostats Market Segmentation

Market Breakup by Product Type

• Combination

• Oxidized Regenerated Cellulose Based

• Gelatine Based

• Collagen Based Haemostat

Market Breakup by Instrument Type

• Halstead Mosquito Hemostatic Forceps

• Kelly And Crile Hemostatic Forceps

• Rochester-Carmalt Hemostatic Forceps

Market Breakup by Formulation

• Matrix and Gel Hemostats

• Sheet and Pad Hemostats

• Sponge Hemostats

• Powder Hemostats

Market Breakup by Application

• Orthopaedic

• General surgery

• Neurological surgery

• Cardiovascular surgery

• Reconstructive surgery

• Gynaecological surgery

Market Breakup by Indication

• Closure

• Surgery

Market Breakup by End User

• Ambulatory Centers

• Hospitals

• Clinics

• Community Healthcare

• Others

Market Breakup by Distribution Channel

• Hospitals

• Ambulatory Surgical Centers

• Clinics

• Online Channels

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Hemostats Market Regional Analysis

With an advanced healthcare infrastructure, North America led the global hemostat market share in the historical period. The United States government has been making major efforts on enhancing healthcare solutions for defense forces. The United States Congress decided to allocate USD 15 million to set up a new “Combat Readiness-Medical Research Program (CRRP)”, which specifically targets on prompt responses to life-threatening injuries and medical diagnostics. This indicates a significant expansion in the hemostat market, as it finds a specialized host different from the generic healthcare ecosystem.

Europe is also experiencing a notable surge in the hemostat market. Medtrade Products Ltd., a leading healthcare company, has extended their European market presence through an exclusive agreement with Laubscher & Co AG to distribute the CELOX™ PPH Uterine Hemostatic Tamponade in Switzerland. This CE-certified solution is expected to reach more clinicians through Laubscher’s extensive network, with potential expansion to other regions and contributing to the hemostat market size.

The Asia Pacific region is anticipated to witness rapid growth. The increasing access to healthcare services and improved healthcare infrastructure in the region is a major factor impacting the growth of the hemostats market directly. As more individuals seek and receive surgical interventions, including various types of surgeries, there is a heightened demand for medical tools and supplies like hemostats.

Global Hemostats Market: Competitor Landscape

In November 2023, Ethicon  (Johnson & Johnson’s MedTech division) announced the approval of ETHIZIA, a hemostatic sealing patch composed of a unique synthetic polymer technology. To make the patch highly adaptable, it has been designed to get rolled, stuffed, or trimmed, making it suitable for minimally invasive as well as open surgeries. The patch showed high efficacy by stopping the bleeding in 30 seconds, an average of six times faster than other leading patches. The product is expected to launch in the EMEA in Q1 2024 along with key markets in North America, Asia-Pacific and Latin America.

The key features of the hemostats market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Pfizer Inc.

• Stryker

• Integra LifeSciences

• Hemostasis, LLC

• Teleflex Incorporated

• Medtronic

• B. Braun SE

• Johnson & Johnson Services, Inc.

• BD

• Baxter

• Marine Polymer Technologies, Inc.

• Teleflex Incorporated

• Gelita Medical

• Anika Therapeutics, Inc.

• Mil Laboratories Pvt. Ltd.

 
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report