Healthcare & Pharmaceutical

Hemostats Market Analysis by Application (Trauma, Cardiovascular Surgery, Orthopedic Surgery, Plastic Surgery, Neurosurgery, General Surgery, and Others); by Product (Active Hemostats, Passive Hemostats, Combination Hemostats, and Others); and by End User (Hospital, Casualty Clinics, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4484 | Published On: Dec 19, 2022

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


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.


Global Hemostats Market Definition

A surgical implement that regulates and manages bleeding during operations is referred to as a hemostat. By reducing the demand for blood transfusions, hemostats assist to speed up surgical procedures. In pre-hospital emergencies, hemostatic drugs are crucial for achieving hemostasis and averting disease fatalities. To constrict blood arteries and stop the flow of blood or other fluids, hemostats are utilized. To control bleeding, they are typically employed as adjuvant to surgical treatments.


Global 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)


Global Hemostats Market Highlights Over 2023 - 2033

The global hemostats market is estimated to garner a revenue of ~USD 5000 million by the end of 2033 by growing at a CAGR of ~6% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 2900 million in the year 2022. 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.

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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.


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Global Hemostats Market: 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

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.


Global Hemostats Market Regional Synopsis

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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Market Segmentation

Our in-depth analysis of the global hemostats 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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Top Featured Companies Dominating the Global Hemostats Market

    • 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

Key Questions Answered in the Report

1) What are the major factors driving the growth of the hemostats market?

Ans: 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.

2) What would be the CAGR of hemostats market over the forecast period?

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

3) What are the challenges affecting the hemostats market growth?

Ans: 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.

4) Which region will provide more business opportunities for growth of hemostats market in future?

Ans: 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.

5) Who are the major players dominating the hemostats market?

Ans: 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…

6) How are the company profiles selected?

Ans: 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.

7) What are the segments in the hemostats market?

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

8) Which segment captures the largest market size in application in the hemostats market?

Ans: The orthopedic surgery segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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