Surgical Hemostats Market Growth Drivers and Challenges:
Growth Drivers
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Burgeoning aging population- Elderly individuals often require surgical interventions for various health conditions, ranging from cardiovascular issues to orthopedic procedures. The prevalence of age-related ailments necessitating surgical treatment amplifies the demand for reliable hemostatic solutions. As healthcare systems adapt to address the needs of an aging demographic, the market for surgical hemostats is poised to witness sustained growth, aligning with the rising demand for surgical procedures among the elderly. According to the World Health Organization (WHO), the number of individuals 60 years of age and over will reach 2.1 billion worldwide by 2050.
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Increasing prevalence of chronic diseases- Conditions such as cardiovascular disorders often require intricate surgical procedures where effective hemostasis is paramount. The incidence of chronic illnesses, coupled with advancements in medical diagnostics, leads to the identification of more cases necessitating surgical management.
- Growing number of road accidents- An increase in traffic accidents has resulted in a spike in surgical procedures, which necessitates the usage of surgical hemostats since it is essential for emergencies in hospital settings. As per statistics, globally there were more than 11% more traffic accidents in 2022 than there were in 2021.
Challenges
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Exorbitant cost and need for skilled professionals - The high cost of hemostasis products is a result of the use of cutting-edge technology and the cost associated with acquiring qualified personnel may restrict the industry growth, particularly in areas with limited resources.
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Risk of adverse complications can impact the market adoption of surgical hemostats- Despite being rare, there have been reports of potentially fatal side effects and complications with the use of resorbable hemostatic materials, such as gel foam, microfibrillar collagen, resorbable collagen since they run the risk of adhering to tissue and becoming infected, particularly if any portion of them is left unabsorbed.
- Regulatory compliance may cause approval delays and may impede industry expansion
Surgical Hemostats Market Size and Forecast:
|
Base Year |
2025 |
|
Forecast Period |
2026-2035 |
|
CAGR |
6.2% |
|
Base Year Market Size (2025) |
USD 4.51 billion |
|
Forecast Year Market Size (2035) |
USD 8.23 billion |
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Regional Scope |
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