Market Research Future (MRFR) proposes that the global hemostats market is predicted to demonstrate 6.4% CAGR during the forecast period (2018-2023). The increasing number of surgical procedures is presumed to favor the market growth. Also termed as hemostatic clamp or arterial forceps, hemostat is a surgical tool which is generally used during major surgical procedures to control the loss of blood or halt bleeding during surgery. Hemostats comprises a group of instruments including tissue holders, pivot, various clamps, and needle holders.
The major challenge in any surgery is the reduced blood loss by hemostasis market and can be achieved by methods like mechanical methods, flowable and sealants, thermal energy-based devices, active agents, pharmaceutical agents, topical hemostatic agents, and thermal energy-based devices. These surgical instruments enable the temporary formation of blood clot in order to control bleeding.
With the augmenting number of surgical procedures, the growing prevalence of sports-related damages, constant progression in the product range, spinal disorders, rising focus on effective blood loss management in patients, and technological advancements are some of the major factors anticipated to fuel the market growth throughout the assessment period.
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On the contrary, strict mandates from the government, the high cost of hemostats, and lack of skilled professionals are some of the top barriers considered to vitiate the market growth in the coming years. Additionally, the reluctance of the surgeons coupled towards the adoption of new products coupled with the weak reimbursements policies is estimated to dampen the market growth globally.
Competitive Dashboard
The prominent players operating the global hemostats market are Anika Therapeutics Inc. (US), Ethicon Inc. (US), B. Braun Melsungen AG (Germany), Pfizer Inc. (US), Gelita Medical GmbH (Germany), Integra Lifesciences Corporation (US), Z-Medica LLC (US), Teleflex (US), CR Bard Inc. (US), Stryker (US), Marine Polymer Technologies Inc. (US), Integra LifeSciences (US), and Baxter International Inc. (US).
Global Hemostats Market: Segmental Analysis
The global hemostats market has been segmented on the basis of instrument type, product type, application, and end-user.
- By mode of product type, the global hemostats market has been segmented into combination based, thrombin-based, gelatin based, oxidized regenerated cellulose-based, tissue sealants, collagen-based hemostat, adhesion prevention products, and cyanoacrylate-based tissue adhesives.
- By mode of instrument type, the global hemostats market has been segmented into kelly and Crile hemostatic forceps, Halstead mosquito hemostatic forceps, and Rochester-carmalt hemostatic forceps.
- By mode of application, the global hemostats market has been segmented into general surgery, cardiovascular surgery, reconstructive surgery, gynecological surgery, orthopedic surgery, neurological surgery, and other surgeries.
- By mode of end-users, the global hemostats market has been segmented into clinics, hospitals, community healthcare, ambulatory surgery centers, and others.
Regional Insights
Geographically, the hemostats market span across regions namely, Europe, America, Asia-Pacific, and the Middle East and Africa.
Among all the regions, the American region is considered to lead the hemostats market across the globe. The growth is credited to the increasing number of diseases owing to the changing lifestyle and augmenting geriatric population. With the growing awareness regarding healthcare, medical tourism, advancements in technology, and growing disposable income, the market in this region is anticipated to flourish. As per the United States Center for Disease Control and Prevention, approximately 45% of the total American population suffers from at least one chronic disease which further demands for critical care.
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Europe is estimated to occupy the second position owing to the advent of technologically advanced hemostat products such as HEMOPATCH, FLOSEAL, and TISEEL. Additional factors promoting the market growth are the increasing geriatric population, heart-related issues, and increasing prevalence of diabetes, which is further estimated to result in a higher number of surgeries.
The Asia Pacific region is predicted to expand at the fastest rate owing to the increasing patient population, changing lifestyle, and rising geriatric population. Such factors are considered to provide an impetus to the growth of the market in this region.
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