According to the market report “Hemostatic Agents Market: By Type (Thrombin, Oxidized Regenerated Cellulose, Combination, Gelatin, Collagen, Fibrin Sealants); By Treatment (Cardiovascular, General, Digestive, Neurological); By End User (Hospitals, Surgical Centers, Nursing Homes) & Geography – Forecast (2016-2022)”, published by IndustryARC, estimates the market to reach $8,347.9m by 2022
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Surgery is a foundational component of health-care systems. Over 51 million hospital-based surgical procedures are performed annually worldwide. The effective management of bleeding to achieve hemostasis during surgical procedures is essential to promote positive outcomes. As surgical procedures evolve to be more refined and noninvasive, the utilization of fast acting biologically and synthetically derived hemostats, encompassing fibrin sealants, flowable gelatins and adhesives, is becoming increasingly prevalent. Some of the parameters for choosing a hemostatic agent includes efficiency, type of surgery, patient condition, need for quicker results, active bleeding tissue VS pooled blood sites and cost. Global hemostatic agents market is estimated to grow at a rate of 7.1% CAGR to reach $8,347.9m by 2022.
Currently, fibrin sealants are the most effective tissue adhesives used in surgeries. Additionally, the properties such as biocompatibility and biodegradability of this sealants are set to drive the growth of hemostatic agents market. Fibrin sealants are widely employed in various surgical specialties such as cardiovascular surgery, thoracic surgery, neurosurgery, plastic and reconstructive surgery, and dental surgery and others. Hemostasis is a complex method requiring the delicately coordinated activation of platelets as well as plasma clotting factors to form a platelet-fibrin clot. Hemostatic agents such as Thrombin Based Hemostats, Gelatin Based Hemostats, Collagen Based Hemostats and many more are used to control the flow of blood during a surgery or dressing an injury. These hemostatic agents are required in hospitals, surgery centers, nursing homes and other centers during the operations.
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Cardiovascular surgery is the key treatment with regards to hemostatic agents market. Risk of cardiovascular diseases generally increases with the increase in age. Globally cardiovascular disease related deaths surged in developed nations including the U.S. and Europe where chronic diseases being the major contributor of death. Hemostatic agents are also considered and used majorly to improve clinical outcome, whereas aesthetics and cost effectiveness have less importance. The other surgeries where hemostats are utilized primarily include cosmetic, orthopedic, urological and arthroscopic surgeries. The rising cosmetic surgeries globally has been a one of the major driver for the growing usage of hemostats among the others segment.
Key Players in this Market Include: –
- Johnson and Johnson Services Inc (U.S.)
- B.Braun Melsungen AG (Germany)
- C.R. Bard Incorporation (U.S.)
- Mallinckrodt Plc (U.S.)
- Integra Life Sciences Corporation (U.S.)
Americas held a major share in the market in 2016 whereas Asia-Pacific region is projected to witness the fastest growth during the forecast period. Global Hemostatic agents market is quite consolidated with key medical consumable and surgical technology players having significant presence. Frequent product launches, acquisitions and expansion are a few of the growth strategies the key players in the industry are adopting to increase their market share.
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