Hemostats Market Size & Share, by Application (Trauma, Cardiovascular Surgery, Orthopedic Surgery, Plastic Surgery, Neurosurgery, General Surgery); Product (Active, Passive, Combination); End-user (Hospital, Casualty Clinics) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4484
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Hemostats Market size is anticipated to reach USD 5000 million by the end of 2033, growing at a CAGR of 6% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of hemostats was over USD 2900 million. The major growth factor of the hemostats market is the increasing prevalence of chronic diseases and the increasing number of surgeries are fueling the demand for hemostats in the medical industry. By the statistics of the World Health Organization, in 2018, around 2 million surgeries were carried out, worldwide. In addition, the need for surgical care is to rise by 30% in the next few years.

Increased prevalence of cancer among people is expected to boost the growth of the global hemostats market. It is expected that by 2040, the count of new cases of cancer is to reach around 28 million and about 16 million deaths due to cancer. Furthermore, the growing number of hospitals across the world induced-blood donation drives, and rising instances of chronic issues are propelling the market growth.


Hemostats Market
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Hemostats Sector: Growth Drivers and Challenges

Growth Drivers

  • Rise in the Number of Hospitals and Clinics- The hospitals and clinics are rising at a remarkable pace owing to their reinforced coverage, services, and additional expenditure by the public as well as private investors. There are nearly 11,000 hospitals in China, around 2000 in the United Kingdom, and approximately 6000 hospitals in the United States
  • Higher Instances of Accidents- According to the World Health Organization, every year nearly 1.3 million people die due to road accidents and road accidents are the primary cause of death among people of age between 5 to 29 years
  • Increasing Requirement for Blood Transfusion- The global burden of blood transfusion is reported around 76% among adults of age 60 and above and nearly 54% in children by the World Health Organization.
  • Rise in the Number of People Suffering from Cancer- As per the data of the World Health Organization, in 2020, there were nearly 10 million deaths as a result of cancer. Moreover, there were around 2.26 million new cases of breast cancer and over 2 million of lung cancer.

Challenges

  • Higher Cost of the Product - Clinical procedures require different types of hemostats for different operations, the cost of these products is a little higher, therefore, which imposes restrictions on clinics to have every kind of hemostat, moreover it also hinders the growth of the market. Compared to other adjunctive hemostats (OAHs), the average cost of a topical adjunctive hemostat was 47% lower using ORCs (oxidized regenerated celluloses), or a savings of USD 88 per treatment.
  • Cases of Unlimited Bleeding to Limit the Demand for the Hemostats
  • Shortage of Trained Expertise and Skilled Professionals

Hemostats Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~6%

Base Year Market Size (2022)

~ USD 2900 Million

Forecast Year Market Size (2033)

~ USD 5000 Million

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Hemostats Segmentation

Application (Trauma, Cardiovascular Surgery, Orthopedic Surgery, Plastic Surgery, Neurosurgery, General Surgery)

The hemostats market is segmented and analyzed for demand and supply by application into trauma, cardiovascular surgery, orthopedic surgery, plastic surgery, neurosurgery, general surgery, and others. Amongst all, the orthopedic surgery segment is anticipated to hold the largest market size by the end of 2033. The growth of the segment is attributed to rising in orthopedic procedures performed and higher cases of bone fractures across the globe. In 2019, there were about 178 million cases emerged of new fractures and around 455 million cases of long-term symptoms of fractures. Moreover, globally there were over 6 million orthopedic surgeons in 2020.

Our in-depth analysis of the global market includes the following segments:

       By Application

  • Trauma
  • Cardiovascular Surgery
  • Orthopedic Surgery
  • Plastic Surgery
  • Neurosurgery
  • General Surgery
  • Others

        By Product

  • Active Hemostats
  • Passive Hemostats
  • Combination Hemostats
  • Others

       By End User

  • Hospital
  • Casualty Clinics
  • Others

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Hemostats Industry - Regional Synopsis

North American Market Forecast

The North America hemostats market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to the region's early adoption of a variety of technologically cutting-edge medical products and solutions as well as the rise in demand for dependable hemostat solutions. Additionally, the prevalence of chronic diseases is increasing in the area, which is fueling market expansion in North America. As per the data of the Centers for Disease Control and Prevention, in the United States, every 4 in 10 persons is suffering from more than 1 chronic problem and around 6 in 10 adults have at least 1 in one chronic issue. Furthermore, the rising need for blood donation and blood transfusion is expected to boost the market growth in the region. In America, more than 4 million people are expected to require blood transfusion every year and in the combined region of the United States and Canada, around 43,000 pints of blood are donated each day.

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Hemostats Market Size
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Companies Dominating the Hemostats Landscape

top-features-companies
    • Pfizer Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Integra LifeSciences Corporation
    • Baxter AG
    • Medtronic plc
    • Stryker Inc.
    • BD (Becton, Dickinson, and Company)
    • Biom’up Innovative Surgery
    • Johnson & Johnson Services, Inc.
    • CryoLife, Inc.
    • Hemostatis LLC

In the News

  • Pfizer Inc. announced the acquisition of Global Blood Therapeutics to amplify the rare hematology and to brace the treatment for sickle cell disease. This agreement was finalized at the worth of USD 5.4 billion.

  • Biom’up announced the approval of Hemosnow by U.S. Food and Drug Administration . Hemosnow is a hemostatic dry powder for control the mild levels of bleeding during surgical procedures.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4484
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising need of blood transfusion, increased cases of cancer, increase in number of hospitals and higher chances of road accidents are the few factors likely to propel the market growth.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2033.

Lack of trained professionals, high cost of the product and inability of hemostats to restrict uncontrollable bleeding are the few factors which are likely to hamper the market growth.

The market in North America is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Pfizer Inc., Integra LifeSciences Corporation, Baxter, Medtronic, Stryker, BD (Becton, Dickinson and Company), Biom’up Innovative Surgery, Johnson & Johnson Services, Inc., CryoLife, Inc., Hemostatis LLC and so on…

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by application, product, end user, and by region.

The orthopedic surgery segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Hemostats Market Report Scope
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