Surgical Hemostats Market Size

Surgical Hemostats Market Size

Surgical Hemostats Market was valued at USD 3.3 billion in 2023 and is anticipated to grow at a CAGR of around 5.6% between 2024 and 2032. Surgical hemostats are medical devices designed to control bleeding during surgical procedures. They are used to promote hemostasis, which is the process of stopping or controlling bleeding. The increasing incidence of accidents and trauma cases on a global scale has significantly elevated the demand for efficient hemostasis solutions.

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For instance, as per the World Health Organization (WHO), an estimated 4.4 million lives are annually lost worldwide due to injuries, encompassing both unintentional incidents and those linked to violence. This constitutes nearly 8% of all reported deaths. Particularly the fact that among individuals aged 5-29 years, three of the primary causes of mortality stem from injuries, specifically road traffic injuries, homicide, and suicide. Therefore, hemostatic products, designed to control and halt bleeding effectively, play a critical role in these emergency situations.

Furthermore, the increase in surgical procedures is propelled by a combination of factors, including heightened prevalence of chronic diseases, and remarkable advancements in medical technology. Moreover, the aging demographic contributes to a higher demand for surgeries related to joint replacements, cardiovascular issues, and cancer treatments. For instance, in 2023, approximately 70% of cardiothoracic surgeries involve patients aged 65 years or older, as indicated by statistics. Thus, the rise in chronic diseases necessitates surgical interventions for diagnosis and management, propel the market growth.