Hemostats Market

Hemostats Market By Type (Thrombin-Based Hemostats, Oxidize Regenerated Cellulose-Based Hemostats, Gelatin Based-Hemostats, Collagen Based-Hemostats), By Application (General Surgery, Neurosurgery, Orthopedic Surgery, Reconstructive Surgery, Others), By Formulants (Matrix And Gel Hemostats, Sponge Hemostats, Powder Hemostats, Others), By End-User (Hospitals, Clinics, Ambulatory Surgical Centres, Others), by geography is estimated to register growth at a remarkable CAGR forecast during 2024-2030 owing to upsurge in the number of surgical procedures, blood loss during surgeries and technological innovations in product design

The global Hemostats market was valued at USD 3.64 billion in 2023, growing at a CAGR of 5.72% during the forecast period from 2024 to 2030 to reach USD 5.07 billion by 2030. The Hemostats market is slated to witness prosperity owing to factors such as the increasing number of surgical procedures, the growing focus on blood loss management during surgeries, emphasis on improving the safety and usability of hemostats for end users along with technological advancements are expected to result in appreciable revenue growth in the hemostats market during the forecast period (2024-2030).

Hemostats Market Dynamics:

One of the noteworthy drivers of the hemostats market is the rising number of surgical procedures around the world. According to the World Health Organization (2019), 421 million hospitalizations occur due to surgeries annually all around the globe, out of which 42.7 million procedures result in the occurrence of adverse events such as excessive bleeding, sepsis, and cardiovascular consequences among others. The surgical procedures are conducted having various purposes such as cesarean operations, aesthetic purposes, and injuries among others. For instance, in another study by the World Health Organization (2019), the number of childbirths by cesarean operations accounted for more than 21% of all childbirths worldwide in the year 2018 and this rate is expected to increase substantially during the forecast period due to the improving healthcare facilities globally. In addition to surgeries due to childbirth, cosmetic surgeries have also been increasing globally for aesthetic purposes, especially in the United States. As per the Plastic Surgery Statistics Report of the American Association of Plastic Surgeons (2023), 2.3 million cosmetic surgical procedures were conducted in the United States in the year 2020. Along with the rising number of surgeries worldwide, the possibilities of surgical complications such as excessive blood loss, respiratory issues, and others also increase. For example, according to the World Health Organization (2023), complications after inpatient surgeries occurred in 25% of the total surgeries performed in the year 2019. As per the same source, in industrialized countries, half of all the adverse events occurred during hospitalizations are related to surgical care, leading to more emphasis on patient safety and blood loss management during surgeries.  Therefore, due to the increase in the number of surgical procedures worldwide and the growing focus on controlled bleeding during surgeries, the hemostats market is expected to witness substantial growth during the given forecast period (2024-2030). 

Another key factor responsible for the growth of the hemostats market is the continuous technological advancements in the development of hemostats. For instance, in February 2022, Dolphin Hemostats under Futura SurgiCare Pvt. Ltd. launched various hemostatic products under the brand name Hemostax which is an oxidized regenerated cellulose type hemostat.

In a similar development, the EndoClot Polysaccharide Hemostatic System manufactured by Endoclot got FDA approval in February 2021. This hemostatic system helps in stopping the bleeding efficiently and rapidly, in the case of gastrointestinal surgeries. In a similar development, in July 2021, MedCura Inc. launched Rapid Seal, which is a high-performance gel that provides better wound treatment and fights infections with antibacterial capabilities. Such product development activities indicate an active research and development domain resulting in the launch of improved products in the market, contributing to product uptake and ultimately resulting in market growth.

However, the dearth of skilled professionals for the efficient use of hemostats along with its high cost may act as restraining factors to the hemostats market growth.

Hemostats Market Segment Analysis:

Hemostats Market By Type (Thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, gelatin-based hemostats, collagen-based hemostats, and Others), Application (General surgery, neurosurgery, orthopedic surgery, Reconstructive surgery, others), Formulant (Matrix & Gel Hemostats, Sponge Hemostats, Powder Hemostats, and Others), End-User (Hospitals and Clinics, Ambulatory Surgical Centers, and Others), Geography (North America, Europe, Asia-Pacific, and Rest of the World).

Based on the Formulant segment of the hemostats market, the matrix and gel category is projected to register significant growth in revenue in the hemostats market during the forecast period (2024-2030). This can be ascribed to the advantages associated with the matrix and gel substances. Some of the advantages associated with them are better biocompatibility and clotting characteristics when used during surgeries. Additionally, they may help with appropriate blood vessel clamping and restricting blood flow reducing the chances of excess blood loss and hindrance during recovery.

For example in April 2022, Ethicon (Johnson & Johnson) launched Enseal XI Straight Jaw Tissue Sealer, which is a matrix and gel-based hemostat that has easy access to the target tissue in multiple surgical procedures with greater efficiency. Therefore, considering the advantages associated with matrix and gel-based hemostats and their growing popularity among end users, this product category is expected to generate considerable revenue thereby pushing the overall growth of the global hemostats market during the forecast period.

North America is expected to dominate the overall Hemostats Market:

Among all the regions, North America is expected to lead in revenue generation in the global hemostats market. This can be ascribed to the rising number of surgical procedures occurring in the North American region which can be attributed to the rising patient population requiring surgical procedures, advanced healthcare infrastructure, a highly potent market in terms of product development and launches, and the local presence of key market players among other factors in the region.

One of the prominent factors supporting the growth of the North America hemostats market is the rising number of surgeries in the North American region. As per reports of the Standford Healthcare Surgery Statistics (2019), the United States recorded 48 million patient surgery cases in the year 2018, while the cardiovascular system and digestive system recorded 7.3 million surgeries and 6.1 million surgeries respectively. In another report by the American Association of Plastic Surgeons (2023), the age group of 30-54 years recorded the highest number of cosmetic procedures, accounting for 8.2 million total cosmetic procedures in the United States in the year 2020. In addition to cosmetic procedures, Centre for Disease Control and Prevention, cesarean surgeries accounted for 31% of all births in the United States in the year 2020. Along with the increase in surgeries due to childbirth and cosmetics, the rising prevalence of spinal cord injuries requiring surgeries has also risen, majorly in the United States and driving the hemostats market. For example, as per the reports of the National Spinal Cord Injury Statistical Centre (2019), the annual incidence of spinal cord injuries is approximately 54 cases per one million cases in the United States, or about 17, 730 new Spinal cord injuries every year, leading to requirement of more surgical procedures for treatment and recovery purposes. Thus, due to the rising number of surgeries associated with various reasons in the United States, the hemostats market is expected to bolster during the given forecast period.

In addition to the number of surgical procedures, product developments, and recent product approvals the hemostats market is expected to grow. For instance, in January 2022, the U.S. Food and Drug Administration (FDA) approved Surgicel Brand Absorbable Hemostat for detecting metal particles in the cut Oxidized Regenerated Cellulose (ORC). 

Therefore, the presence of a large patient population base and end users coupled with the increasing focus of manufacturers on launching new products with more products getting approvals for commercial use is expected to bolster the growth of the hemostats market in the North America region during the forecast period (2024-2030).

Key Hemostats Companies In The Market Landscape:

Some of the key hemostats companies operating in the market include Baxter International Inc., Johnson and Johnson, GELITA Medical, B. Braun Melsungen AG, Hemostasis LLC, Stryker Corporation, Pfizer, Mallinckrodt, CryoLife, Integra Life Sciences, Cura Medical, Meril Life Sciences, Beijing Datsing Bio-Tech, Zhonghui Shengxi, Curasan AG, Teflex Inc, Biotemed, BD, Biom’up, Foryou Medical, and others.

Recent Developmental Activities in Hemostats Market:

• In April 2022, Alcon, Ethicon (Johnson and Johnson) announced the launch of Enseal XI Straight Jaw Tissue sealer which enables stronger tissue healing, also having easy access to the target tissue in multiple surgical procedures with greater efficiency.
• In July 2021, Medcura Inc. launched Rapid-Seal, which is an antibacterial hemostatic high-performance gel that assists in providing better wound treatment and fights infections with antibacterial capabilities.
• In February 2021, FDA approved the use of the EndoClot Polysaccharide Hemostatic System, manufactured by EndoClot Inc. This hemostatic system is said to control the bleeding rapidly and efficiently in case of gastrointestinal surgeries.

Key Takeaways from the Hemostats Market Report Study

• Market size analysis for current hemostats market size (2024), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the hemostats market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, joint ventures happened for last 3 years
• Key companies dominating the global hemostats market.
• Various opportunities available for the other competitor in the hemostats market space.
• What are the top performing segments in 2023? How these segments will perform in 2030.
• Which are the top-performing regions and countries in the current hemostats market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for hemostats market growth in the coming future?

Target Audience who can be benefited from this Hemostats Market Report Study

• Hemostats products providers
• Research organizations and consulting companies
• Hemostats-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in hemostats
• Various end users who want to know more about the hemostats market and the latest technological developments in the hemostats market.