Home > Healthcare & Medical Devices > Hemostasis and Tissue Sealing Agents Market
Hemostasis and Tissue Sealing Agents Market size is poised to exhibit a considerable growth trajectory between 2023 to 2032 led by the rising preference for ready-to-use and multi-usage healthcare products. The escalating burden of chronic illnesses across the globe has amplified the importance of critical care and surgery, thereby augmenting the market growth.
Cardiovascular diseases (CVDs) account for most non-communicable disease-related (NCD) deaths every year. As per the World Health Organization (WHO), about 17.9 million people succumb to NCD annually. Some of the most prevalent chronic illnesses across the globe include chronic respiratory diseases, various types of cancer, and diabetes.
The adoption of rigorous regulatory environment rules and increased product pricing may have a detrimental influence on industry development. The COVID-19 pandemic also substantially impacted the global healthcare economy by posing roadblocks in supply chain networks. However, the increasing incidences of hemostatic disorders and the higher emphasis on disturbed hemostasis in infected patients with prothrombotic scores aided the acceptance of sealing agents.
On the basis of product, the hemostasis and tissue sealing agents market share from topical hemostats will showcase significant growth through 2032. The growth can be attributed to the rising adoption of these agents as they offer non-antigenicity, minimal tissue reactivity, and easy absorbability and work well with conventional treatment. The increasing popularity of fibrin sealants, and gelatin sponges is likely to boost product uptake in the forecast timeframe.
hemostasis and tissue sealing agents market from minimally invasive surgeries segment will witness lucrative expansion up to 2032 with the rising need for faster recovery times and shorter hospital stays. Key advantages of minimally invasive surgical techniques, such as fewer operative and post-operative complications, less postoperative pain, faster recovery times, and smaller incision, are contributing to their demand in the market. The infusion of novel hemostasis technologies is another driver for industry development.
With respect to regional landscape, North America is poised to record higher consumption of hemostasis and tissue sealing agents between 2023 and 2032 due to the thriving demand for adhesives and sealants. The higher prevalence of diabetes, CVD and cancer in the region will also add to the regional market expansion. As per statistics from cdc.gov, over 37 million Americans have diabetes with nearly 90 to 95% suffering from type 2 diabetes.
With the rising number of diabetic patients undergoing surgery, as well as the increased risk of complications associated with diabetes mellitus, the need for proper perioperative assessment and care has gained substantial ground. The strong presence of key market participants and qualified specialists has resulted in the influx of novel tissue-sealing chemicals and products in the region.
The competitive landscape of the hemostasis and tissue sealing agents market is inclusive of leading companies, such as Dickinson & Company, Baxter International, Inc., Johnson & Johnson, Becton, Cohera Medical, Inc., Pfizer, Inc., Medtronic plc., MIL Laboratories Pvt. Ltd., and Ethicon LLC, among others.
Strategic marketing alliances, including acquisitions and partnerships, as well as new product developments, investments, and capacity expansions, are some primary measures employed by these firms to consolidate their market position while gaining a competitive edge.