Hemostats Market Explores New Growth Opportunities at a CAGR of 6% by 2026

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The Global Hemostats Market was valued at US$ 2.7 billion in 2021 and is set to witness a healthy growth rate of 6% in the next 5 years. Increase in surgical procedures (related to cardiovascular surgery, general surgery, plastic surgery, orthopedic surgery, neurosurgery, dentistry, obstetrics, and gynecology), rising cases of trauma, technological advancements in hemostats, shrinking blood supply/donor pool in several countries, and advance opportunities in emerging markets are some of the main factors driving the global hemostats market.

Technological Advancements Drive the Global Hemostats Market
Uncontrollable bleeding poses significant fatality risks and costs in the battlefield, emergency, and hospital settings. Therefore, players operating in the market are focusing on developing hemostatic agents that can rapidly control bleeding, possess antibacterial properties, can be used as adjuncts to control bleeding during surgical procedures, and control residual problematic bleeding if conventional methods fail.

In Feb 2022, Futura Surgicare Pvt Ltd.’s new vertical Dolphin Hemostats launched hemostatic products under the brand Hemostax (Oxidised Regenerated Cellulose). Hemostax Standard is an absorbable hemostat that is designed to help surgeons control bleeding more efficiently

In July, 2021, Medcura, Inc. launched a new class of high-performance, antibacterial hemostatic gel, Rapid-Seal®. It provides rapid bleeding management and antibacterial capabilities to improve wound treatment, help fight infections of the wound and create an environment for safe healing
Plastic Surgery – An Untapped Market

Plastic surgery signifies a commercially lucrative opportunity for the hemostats market. Like most surgical procedures, plastic surgery procedures are also not without associated complications. Seromas and hematomas are comparatively common complications associated with plastic surgery procedures. These complications adversely impact wound healing and result in significant morbidity in patients. The use of hemostatic agents can significantly reduce these complications, achieve immediate hemostasis for the local bleeding site, allow earlier drain removal, and possibly avoid the usage of drains altogether.

“Technologically innovative products are likely to be successful in the market. In my opinion, there is only one product in the market that has complementary features of advanced bleeding control and antimicrobial activity.”- Director, Leading Hemostat Manufacturer, United States

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Evolving Markets Set to Drive the Hemostatic Agents Market
Emerging markets such as China, India, and South Korea are expected to witness double-digit growth in the coming years. Growth in emerging markets is likely to be driven by lower-cost hemostatic products that are largely commoditized. The massive volume of surgical procedures, increasing cases of trauma injuries, growing cases of organ transplantation (legal & illegal), foray of local players, and increasing capabilities of surgeons to perform more complex and technically- demanding procedures that require efficacious, fast-acting hemostats to control bleeding are some of the key factors that are expected to drive the demand of hemostatic agents in emerging markets.

Organic and Inorganic Growth Strategies Adopted by Players to Establish Their Foothold in Hemostats Market
The hemostats market is characterized by the presence of both established and new players. Players operating in the market adopt both organic and inorganic growth strategies such as new product launches, and acquisitions to garner market share.

For instance,

In July 2021, Baxter acquired PerClot Polysaccharide Hemostatic System from CryoLife. The acquisition marks Baxter’s entry into the attractive global hemostatic powder segment, broadening its portfolio offering to include a wider range of active and passive hemostatic solutions

In December 2020, Teleflex completed the acquisition of Z-Medica, LLC, an industry-leading manufacturer of hemostatic products.
The global hemostats market is set to continue its growth due to the rise in surgical procedure volumes, technological advancements in hemostats, increasing usage of hemostats in the military, emergency medical services (EMS) & hospitals, and commercial opportunities in minimally invasive surgery (MIS), plastic surgery, and knee replacement surgery.

Competitive Landscape Analysis of Hemostats Market
The global hemostats market is marked by the presence of players such as Baxter, Ethicon, B. Braun, Becton Dickinson, Pfizer, CryoLife, Teleflex (Z-Medica), Integra LifeSciences, Biomup, Medtronic, among others.

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Ruta Halde
Associate, Medi-Tech Insights
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