Hemostasis and Tissue Sealing Agents Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI4208
Hemostasis and Tissue Sealing Agents Market size is projected to experience significant growth from 2019 to 2025.
Hemostasis is the body's normal physiological response for the prevention of hemorrhage or bleeding. Hemostasis and tissue sealing agents market is estimated to witness favorable growth across the projected timeframe. High growth is attributed to increasing number of general as well as minimally invasive surgeries, where tissue sealing agents are mostly used to prevent hemorrhage.
Rising incidence of injuries caused by sports activities and road accidents is another growth propelling factor. Moreover, continual rise in geriatric population with chronic disorders are factors responsible for boosting product demand, thus augmenting hemostasis and tissue sealing agents market growth.
However, stringent regulatory scenario regarding approval of these sealing agents is a major growth impeding factor. Additionally, increasing uses of off label hemostat products is anticipated to restrict business growth. Also, high cost associated with tissue sealing agents is another chief growth limiting reason.
The hemostasis agents segment is estimated to witness robust growth over the forecast timeframe as hemostasis and tissue sealing agents are considered to be the most effective treatment for the prevention of hemorrhage. Moreover, rising number of gastrointestinal, cardiovascular and pulmonary surgeries have also increased the adoption rate of hemostat products thus, fostering market growth.
Minimally invasive surgery segment is estimated to witness lucrative growth across the forecast period. High growth is attributable to increasing preference for minimally invasive surgeries over other conventional procedures, owing to less medical restrictions and risks associated with this treatment. Additionally, a quicker recovery time leads to a shorter hospital stay as well, that will further drive demand for these less invasive procedures, thus fueling segmental growth.
The hospitals segment is estimated to witness favorable growth across the projected timeframe. Hospitals offer minimally invasive surgical procedures with good quality at an affordable price. Furthermore, increasing application of hemostats products for the prevention of blood loss in various general as well as less invasive surgeries is one of the major growth propelling factors. Also, increasing preference among the population for hospitals over other medical settings owing to affordability and availability of required medical facilities will further augment industry growth.
The U.S. is expected to witness substantial growth over the forecast period owing to the presence of skilled professionals, technological advancements, increasing adoption of hemostats products for treatment of various bleeding conditions, and the presence of dominant market players in the region. Additionally, high healthcare expenditure along with the rising incidence of sports related injuries will further fuel market growth.
China is expected to witness significant growth in the hemostasis and tissue sealing agents market during the analysis period. High growth is attributed to factors such as, rapid advancements in technology and favorable reimbursement scenario for the manufacturers. Additionally, increasing geriatric population in the Asian countries will further drive business growth.
Some of the key industry players include Pfizer, Inc., Becton, Dickinson & Company, Johnson & Johnson, Baxter International, Inc, Braun Melsungen AG, Cryolife, Inc., Ethicon LLC, Medtronic plc, Cohera Medical, Inc. and MIL Laboratories Pvt. Ltd. These companies are venturing into mergers, acquisitions, collaborations, and partnerships to expand its market reach.
Hemostasis and Tissue Sealing Agents Market by Product, 2014-2025 (USD Million)
- Hemostasis agents
- Tissue sealing agents
Hemostasis and Tissue Sealing Agents Market by Application, 2014-2025 (USD Million)
- General surgery
- Minimally invasive surgery
Hemostasis and Tissue Sealing Agents Market by End-use, 2014-2025 (USD Million)
- Ambulatory surgical centers
The above information is provided for the following regions and countries:
- North America
- Czech Republic
- The Netherlands
- Latin America
- Rest of World
- Pfizer, Inc
- Becton, Dickinson & Company
- Johnson & Johnson
- Baxter International, Inc
- Braun Melsungen AG
- Cryolife, Inc.
- Ethicon LLC
- Medtronic plc
- Cohera Medical, Inc.
- MIL Laboratories Pvt. Ltd
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