Surgical Hemostats Market Analysis

Surgical Hemostats Market Analysis

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The market by product type is categorized into topical thrombin-based hemostats, flowable hemostats, collagen-based hemostats, oxidized regenerated cellulose-based hemostats, gelatin-based hemostats, combination hemostats, and other product types. Oxidized regenerated cellulose-based hemostats segment held substantial revenue share in the surgical hemostats industry accounting for 19.9% market share in the year 2023.
 

• These hemostats are derived from cellulose, a natural polymer found in plant cell walls, and undergo a process of oxidation and regeneration to enhance their hemostatic properties. They are known for their effectiveness, biocompatibility, and absorbable nature.
   
• Their application in cardiac, orthopedic, and general surgeries, combined with a favorable safety profile, has contributed to their widespread adoption.
   
• Furthermore, the rising number of surgical procedures worldwide is amplifying the demand for reliable hemostatic agents, and continuous technological advancements in this field are projected to further enhance the performance and applicability of oxidized regenerated cellulose-based hemostats, thereby solidifying their position in the market.

Based on formulation, the market unfolds its segmentation, encompassing the domains of matrix & gel hemostats, sponge hemostats, sheet & pad hemostats, and powder hemostats. The matrix & gel hemostats segment garnered USD 1.3 billion revenue size in the year 2023.
 

• The matrix & gel hemostats segment holds substantial revenue primarily due to its ease of use and versatility, making it applicable across various surgical procedures.
   
• The efficiency in promoting rapid blood clotting, minimally invasive nature, and reduced complications compared to traditional methods contribute to widespread adoption. Continuous formulation innovation, aimed at improving efficacy and safety, further propels market growth.
   

Based on application, the surgical hemostats market unfolds its segmentation, encompassing the domains of general surgery, cardiovascular surgery, orthopedic surgery, gynecological surgery, neurosurgery, reconstructive surgery, and other applications. Orthopedic surgery segment held substantial revenue in the surgical hemostats industry accounting for USD 611.6 million in the year 2023.
 

• Orthopedic surgeries, marked by complexity and a heightened risk of bleeding, propel the demand for hemostatic agents. Surgical hemostats, renowned for their swift and efficient control of bleeding, play a pivotal role in meeting this requirement.
   
• For instance, in 2022, the World Health Organization (WHO) reported that the incidence of musculoskeletal conditions increases with age, impacting approximately 1.71 billion individuals globally. This encompasses prevalent conditions such as low back pain and osteoarthritis.
   
• Thus, the increasing prevalence of musculoskeletal disorders and a growing aging population base contributes to a surge in orthopedic surgeries, intensifying the need for hemostatic solutions, stimulate the market growth.
   

Based on end-use, the market unfolds its segmentation, encompassing the domains of clinics, hospitals, ambulatory surgical centers, and other end-users. Hospitals segment held substantial revenue share in the surgical hemostats market accounting for 47.9% market share in the year 2023.
 

• The surge in surgical procedures conducted within hospitals, encompassing emergency room (ER) and minimally invasive surgeries, has significantly bolstered the demand for surgical hemostats.
   
• Moreover, technological advancements in hemostatic technologies have played a pivotal role by providing products with enhanced efficacy and safety profiles, making them particularly attractive in hospital settings.
   
• The cost-effectiveness and efficiency of surgical hemostats have further facilitated their widespread adoption in hospital, aligning with the imperative of delivering high-quality care.
   
• Additionally, the prevailing trend towards outpatient care, coupled with patients' preferences for the convenience and personalized experience offered by healthcare settings, has been instrumental in elevating the prominence of the hospitals segment within the surgical hemostats industry.

U.S. market accounted for USD 1.1 billion revenue size in 2023 and is predicted to witness substantial market growth over the analysis timeline.
 

• U.S. has taken a leading role in the surgical hemostats industry, stimulated by a combination of advanced healthcare infrastructure, a high incidence of chronic diseases, continuous technological innovations, an aging population base, stringent regulatory standards, robust research and development activities, substantial healthcare expenditure, and strategic collaborations.
   
• The region's well-established healthcare system facilitates the adoption of sophisticated surgical procedures that often require the use of hemostasis products.
   
• Moreover, the prevalence of chronic diseases, particularly cardiovascular disorders, contributes to a sustained demand for these products. For instance, in 2020, as per the American Heart Association, approximately 928,741 people died in the U.S. owing to some form of cardiovascular disease.
   
• Furthermore, the region’s commitment to research and development, coupled with strategic partnerships, ensures the ongoing advancement and commercialization of innovative hemostasis solutions, reinforcing its prominent position in the global market.