Growth in this market is driven by the increasing number of surgical procedures, growing number of regulatory approvals, increasing incidence of sports-related injuries and spinal ailments, and rising focus on effective blood loss management in patients during surgeries.
Market Size
The global Hemostats Market is expected to reach USD 3.03 billion by 2023 from USD 2.27 billion in 2018, at a CAGR of 6.0%.
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“The thrombin-based hemostats segment is expected to account for the largest share of the market in 2018.”
Based on product, the hemostats market is segmented into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelatin-based hemostats, and collagen-based hemostats. Of all these product segments, the thrombin-based hemostats segment is expected to account for the largest share of the global hemostats market in 2018.
“In 2018, the orthopedic surgery segment is expected to dominate the hemostats market”
On the basis of application, the hemostats market is segmented neurological surgery, cardiovascular surgery, general surgery, orthopedic surgery, gynecological surgery, reconstructive surgery, and other surgeries. The orthopedic surgery segment is expected to account for the largest share of the hemostats market in 2018.
“In 2018, North America to command for the largest market share”
In 2018, North America is expected to account for the largest share of the global hemostats market. The hemostats market in North America is well-established, with the US being a major market in this region.
Recent Developments
- In June 2017, the Johnson & Johnson launched SURGICEL powder, a new absorbable adjunctive hemostat.
- In March 2018, the Baxter International acquired two hemostat and sealant products from Mallinckrodt plc to strengthen its existing product portfolio in the market.
- In April 2017, Baxter International introduced new innovative product designs for its Floseal and Tisseel hemostatic product lines.
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