Hemostasis Products Market Size & Share 2023 to 2032
Market Size by Product (Topical Hemostasis Product, Infusible Hemostasis Products, Advanced Hemostasis Products), by Application (Trauma, Surgery, Hemophilia, Myocardial Infarction).
Report ID: GMI5287
|
Published Date: August 2023
|
Report Format: PDF
Download Free PDF
Authors:
Mariam Faizullabhoy, Pratiksha Kamthe
Hemostasis Products Market Size
Hemostasis Products Market size was worth USD 1.6 billion in 2022 and is poised to record substantial growth at 5.8% CAGR from 2023-2032, driven by the escalating prevalence of cardiac disorders across the globe.
Hemostasis Products Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The growing popularity of hemostasis products to ensure patient safety and positive outcomes during surgeries, interventions, and other medical procedures related to heart conditions will drive the industry gains. The increasing prevalence of cardiovascular diseases has spurred the rising demand for effective solutions to manage bleeding during cardiac procedures. Moreover, the aging population and unhealthy lifestyle trends are contributing to the expanding cardiac patient pool, driving the demand for hemostasis products. According to the American Heart Association statistics, cardiovascular disease globally accounts for more than 17.6 million deaths per year and is estimated to reach over 23.6 million by 2030. The rising number of R&D investments to enhance product efficacy, safety, and ease of use.
The growing technological advancements and the rising application areas of hemostat products will contribute to the industry expansion. However, the development and incorporation of cutting-edge technologies are increasing production costs, subsequently impacting the pricing of hemostasis solutions. Nevertheless, the focus of manufacturers and stakeholders towards balancing technological advancements and affordability to ensure wider market penetration and sustained progression.
Impact of COVID-19 Pandemic
The COVID-19 pandemic had negative impact on the demand for hemostasis products due to the detrimental effects on the operations of multiple internationally functioning industries. The major disruptions in their respective supply-chain operations and production was mainly driven by precautionary lockdowns and the rigorous rules imposed by governing bodies globally. Furthermore, the growing emphasis of consumers on cutting down superfluous spending from their budgets.
Hemostasis Products Market Trends
Recent innovations, such as modified chitosan dressing, intranasal splint for nasal/sinus surgery and hemostatic foams have proved favorable for considerable industry gains. The demand for microfibrillar collagen hemostats has picked significant pace to demonstrate quick hemostasis and favorable outcomes in favor of the patient, as well as in some other documented issues. The growing emphasis on providing technologically superior hemostasis solutions will also drive the business expansion. For instance, in May 2023, Sysmex Corporation inked a global OEM agreement on hemostasis products with Siemens Healthcare Diagnostics Inc., for the supply of its OEM hemostasis diagnostic devices.
Hemostasis Products Market Analysis
Topical hemostasis products market is estimated to reach over USD 2 billion by 2032 due to advantages, such as ease of application, quick action, and reduced risk of complications. Moreover, the rising number of accidents worldwide coupled with the increasing incidence of surgeries along with the surging need of minimizing blood loss, reducing transfusions, and accelerating patient recovery. According to the National Highway Traffic Safety Administration, 31,785 persons died in traffic accidents in the first nine months of 2022.
Hemostasis products market size from the surgery segment is expected to exceed USD 988 million by 2032 due to the increasing number of more advanced and intricate surgeries to treat multiple diseases. The rising prevalence of cardiovascular and orthopedic surgeries as well as general procedures has resulted in the sustained demand for hemostasis products. According to the Lancet Commission, the global burden of surgically treatable diseases is estimated to rise by 60% in 2030.
North America hemostasis products market size is expected to record 5.9% CAGR from 2023-2032. The presence of large geriatric population base coupled with lifestyle-related factors, such as obesity and sedentary habits are contributing to the increasing incidence of cardiovascular diseases. For instance, in July 2023, Baxter International Inc., a worldwide leader in surgical innovation, launched PERCLOT Absorbable Hemostatic Powder, a ready-to-use product developed for patients with intact coagulation to treat minor bleeding in the U.S.,
Hemostasis Products Market Share
The competitive landscape of the hemostasis products market includes prominent firms, such as
Hemostasis Products Industry News
Hemostasis products market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:
Click here to Buy Section of this Report
By Product (USD Million)
By Application (USD Million)
By End-use (USD Million)
The above information is provided for the following regions and countries:
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
At GMI, our research methodology is built on a foundation of human expertise, rigorous validation, and complete transparency. Every insight, trend analysis, and forecast in our reports is developed by experienced analysts who understand the nuances of your market.
Our approach integrates extensive primary research through direct engagement with industry participants and experts, complemented by comprehensive secondary research from verified global sources. We apply quantified impact analysis to deliver dependable forecasts, while maintaining complete traceability from original data sources to final insights.
2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
Every forecast includes explicit documentation of:
✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
6. Validation & quality assurance
The final stages involve human validation, where domain experts manually review filtered data to identify nuances and contextual errors that automated systems might miss. This expert review adds a critical layer of quality assurance, ensuring data aligns with research objectives and domain-specific standards.
Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
✓ Market Reality Check
Trust & credibility
Verified data sources
Trade publications
Security & defense sector journals and trade press
Industry databases
Proprietary and third-party market databases
Regulatory filings
Government procurement records and policy documents
Academic research
University studies and specialist institution reports
Company reports
Annual reports, investor presentations, and filings
Expert interviews
C-suite, procurement leads, and technical specialists
GMI archive
13,000+ published studies across 30+ industry verticals
Trade data
Import/export volumes, HS codes, and customs records
Parameters studied & evaluated
Every data point in this report is validated through primary interviews, true bottom-up modelling, and rigorous cross-checks. Read about our research process →