The Hemostats market was valued at US$ 2,206.00 million in 2019 and it is projected to reach US$ 3,557.41 million by 2027; it is expected to grow at a CAGR of 6.3% from 2020 to 2027.
Hemostats play a basic and fundamental role during surgical procedures as it enables superior blood loss management. The products are has intraoperative and postoperative applications. Hemostats can be used for oozing venous type bleeds, diffusion of raw surface bleeding, bone bleeding, and needle-hole bleeding. The growth of the Hemostats market is attributed to the rising prevalence of chronic diseases, which are leading to increasing number of surgical procedures, number of strategic initiatives taken by governments, and growing number of hospitals. However, the growth of the market is expected to be restrained by lack of product awareness in emerging nations and lack of lucrative reimbursements.
The Hemostats market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Lucrative Regions for Hemostats Market
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Market Insights
Growing Applications of Hemostats in Healthcare to Drive Hemostats Market Growth
The increasing number of surgical procedures have also increased the use of hemostats. Increase in number of surgeries such as orthopedic surgeries for the replacements of knee & hip help to upsurge the market growth. The surgeries are done for the amputations of the limbs due to the injuries and damages caused by various diseases or road accidents. For instance, as per the U.S. Agency for Healthcare Research and Quality, approximately 600,000 knee replacement surgeries are performed per year in the United States.
Additionally, the number of surgeries is increasing due to the rising musculoskeletal disorders associated with sports, age-related dysfunction, and occupational injuries. For instance, as per the Arthritis Foundation, approximately 54 million adults had been diagnosed with arthritis in 2017. Moreover, nearly 300,000 babies and children have arthritis or a rheumatic condition.
The rising geriatric population can be a significant factor in increasing the number of surgical procedures. The knee replacement surgeries are being performed in the geriatric population for their deteriorating joints. As per the report, ‘Aging in the United States’ published by Population Reference Bureau’s revealed that the growing population (people 65 and older) are likely to reshape the scenario for the older population in America. The rise in conditions such as rheumatoid arthritis (RA), ankylosing spondylitis (AS), and osteoporosis in elderly age are driving the number of surgeries. For instance, as per the report published in 2018 of Healthline Media, rheumatoid arthritis (RA) affects 41 in every 100,000 people per year, and near round 1.3 million Americans have rheumatoid arthritis. Similarly, according to the International Osteoporosis Foundation (2018), osteoporosis is estimated to affect 200 million women across the world, among which near around one-tenth of women are above the age of 60, one-fifth of women aged more than 70, two-fifths of women aged above 80 and two-thirds of women aged more than 90. Thus, owing to the above mentioned factors, the market for hemostats is anticipated to grow in the forecast period.
The rise in the incidences of sports injuries is contributed by weekend sports players, professional athletes, youngsters, children playing in the societies, and sometimes adults. Most of the sports injuries are orthopedic injuries that include swelling, pain, strain, sprain, fractures, ligament breaks, and others. These injuries are broadly classified as acute and chronic types. The injuries or lesions are caused by sports such as water sports, water soccer (football), cricket, basketball, rugby, athletic games, and others. For instance, according to the Federation Internationale de Football Association (FIFA), the data has revealed that sports injuries are majorly caused by soccer.
Also, it is estimated that the ankle sprain is the most widely experienced injuries caused by football players worldwide. In the emergency department in the US, approx. 240,000 injuries were treated; among them, nearly 48,810 cases estimated for fractures, and about 79,400 cases were for sprains & strain, and also there were 5,000 cases for the dislocations.
Besides, as per the report published by BMJ Publishing Group Ltd (2017) stated that nearly 8% of the athletes incurred with one injury during the Olympic Games, in the Rio de Janeiro 2016 Olympic Summer Games. Also, according to the Stanford Children’s Health data published in 2018, in the United States, nearly 3.5 million children and teen has suffered from the injuries of the age group in between 14 years and below. It also reported that the highest rates of injuries occurred in sports involve contact and collisions. Severe injuries happened during individual sports and recreational activities. Additionally, approximately 62% of sports-related injuries occurred during the practice sessions.
Similarly, in cricket, the bowlers are more prone to get injured from the repetitive motion of their legs, elbow, and shoulders. The typical hams and injuries that are being observed are impingement syndromes, rotator cuff tears, ankle sprains, as well as medial ligament injuries to the elbow. Therefore, averagely 10% of the cricketers may suffer from lesions at any point in time in the field and approx. 15% of the incidences are contributed by the fast bowlers.
Moreover, according to the Stanford Children’s Health, some instances were given, which stated that near 170,000 children between the age group of 5 to 14years were treated for basketball-related injuries in hospital emergency rooms. Likewise, approximately 47,000 children were treated for in-line skating-related injuries. Similarly, around 65,000 children were treated for trampoline-related injuries in hospital emergency rooms.
After analyzing the facts and figures provided by the different organizations, it is expected that the market for the hemostats is likely to experience favorable growth in the forecast period.
Product-Based Insights
In terms of product, the Hemostats market is segmented into thrombin-based hemostats, combination hemostats, gelatin based hemostats, collagen based hemostats and oxidized regenerated cellulose based hemostats. In 2019, the thrombin based hemostats held the largest share of the market, by product.
Hemostats Market, by Product – 2019 and 2027
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End User-Based Insights
In terms of end user, the Hemostats market is segmented into hospitals & clinics and other end users. The hospitals and clinics held the largest share of end user segment in the global market.
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Hemostats Market: Strategic Insights
Market Size Value in US$ 2,206.00 Million in 2019 Market Size Value by US$ 3,557.41 Million by 2027 Growth rate CAGR of 6.3% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Hemostats Market: Strategic Insights
| Market Size Value in | US$ 2,206.00 Million in 2019 |
| Market Size Value by | US$ 3,557.41 Million by 2027 |
| Growth rate | CAGR of 6.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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The Hemostats market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
Hemostats Market – by Product
- Thrombin Based Hemostats
- Combination Hemostats
- Gelatin Based Hemostats
- Collagen Based Hemostats
- Oxidized Regenerated Cellulose Based Hemostats
Hemostats Market – by End User
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Other End Users
Hemostats Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- BD
- B. Braun Melsungen AG
- Baxter International Inc.
- Integra Life Sciences Corporation
- Teleflex Incorporated
- Johnson & Johnson Services, Inc.
- Biom'up
- ZMedica, LL
- Gelita Medical
- Pfizer Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; End User ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Hemostats refers to surgical supplies consisting of hemostatic agents and their delivering systems that are present in the form of pads, sponges, patches, powders, liquids or others. These hemostats are made from various blood clotting materials such as collagen, thrombin, cellulose, gelatin and others.
Rise in healthcare insurance providers, technological advancement and growing number of surgery procedures are projected to drive the growth of the global hemostats market during the forecast period. Moreover, growth of healthcare infrastructure among the untapped nations and increased initiatives taken up by governments are expected to fuel the growth of this market during the forecast period.
There are various types of hemostats available in the market priced within a range of US$ 5.0 to US$ 150.0 depending upon various factors such as formulation, material composition, application areas, quantity and others.
The List of Companies - Hemostats Market
- Johnson & Johnson Services, Inc. (Ethicon LLC)
- BD
- Baxter
- B. Braun Melsungen Ag
- Pfizer, Inc.
- GELITA MEDICAL
- Integra Lifesciences Holdings Corporation
- Z-Medica, LLC
- Biom’up
- Teleflex Incorporated
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