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Hemostasis Products Market size to exceed $2.2bn by 2030

  • Published Date: July 11, 2022

Hemostasis Products Market size is set to reach USD 2.2 billion by 2030, according to a new research report by Global Market Insights Inc.

Increasing prevalence of cardiovascular diseases across the world will drive the overall industry outlook. Moreover, a sharp rise in the trauma and accident cases is increasing the need for emergency surgeries. Nearly 4.4 million and about 3.16 million people die due to trauma and accident annually. Thus, with increasing number of trauma and cardiovascular disease cases will spur the industry landscape.

Rise in technological advancements to achieve faster and efficient hemostasis and improve prognosis graph of the patient will fuel the market progression. For instance, as per the study titled "Avitene Microfibrillar Collagen Hemostat (MCH) for Adjunctive Hemostasis in Surgical Procedures " published in the Journal of Medical Devices in July 2021 stated that, the product, Avitene Microfibrillar Collagen Hemostat (MCH) is suitable to be used in wide range of surgical specialties, including hepatic, splenic, orthopedic, oral, and otolaryngologic surgery.

An upsurge in cases of cardiovascular diseases will propel hemostasis products market revenue

Infusible hemostasis products segment surpassed USD 220 million in 2021. This is attributable to the growing number of patients suffering from cardiac diseases such as myocardial infarction, coronary heart disease, aortic disease etc. Cardiovascular disease is responsible for majority of deaths in countries such as India. It accounts for more than 25% of total deaths occurring in the country. Thereby, stimulating the product demand.

Browse key industry insights spread across 207 pages with 232 market data tables & 15 figures & charts from the report, Hemostasis Products Market Analysis By Product (Topical Hemostasis Product {Gelatin, Polysaccharides , Oxidized Regenerated Cellulose, Collagen}), Infusible Hemostasis Products {Platelet Concentrate From Donor Blood, Fresh Frozen Plasma (FFP), Factor VIII, Prothrombin}), Advanced Hemostasis Products ({Flowable, Thrombin, Synthetic Sealants, Fibrin}), Application (Trauma, Surgery, Hemophilia, Myocardial Infarction), End-use (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:

High rise in number of complex surgeries will influence the hemostasis products market size expansion

Surgery segment is projected to proceed at 5.6% CAGR during the analysis timeframe. Excessive bleeding during major surgeries such as cardiovascular surgeries, caesarean section, liver transplant, etc. are responsible for development of this segment. Moreover, an alarming rise in the elderly population base prone to suffer from chronic illnesses, requiring complex surgeries will augment the industry scenario.

Escalating number of road traffic accidents globally will boost the hemostasis products market forecasts

Hospitals segment exceeded USD 950 million in 2021. The magnifying number of road traffic accidents and expanding number of trauma cases are propelling the business statistics. Also, there has been a sharp rise in number of public as well as private hospitals globally making accessibility towards medical care easier and swifter. The development of medical tourism sector coupled with increasing initiatives undertaken by government authorities towards development of healthcare sector will foster the market trends.

Rise in the number of heart surgeries performed will enhance the regional market share

Europe industry accounted for more than 26% of market share in 2021 and is anticipated to progress at a considerable rate during the analysis period. There has been a substantial increase in number of cardiac procedures performed across Europe. According to the European Heart Network, nearly 3.9 million people die due to cardiovascular illness in the region annually. Thus, the rising number of people suffering from chronic conditions coupled with developed healthcare infrastructure in major countries will stimulate the regional industry outlook.

Product portfolio expansion by leading market players will strengthen their market footprint

Few noteworthy players operating in the hemostasis products market are Medtronic, Johnson & Johnson, Baxter International, Pfizer, Becton, Dickinson, and Company (BD), B. Braun Melsungen AG, Tricol Biomedical, Hemostasis LLC, Teleflex Incorporated, CuraMedical BV, among others. These companies are majorly engaged in adoption of various growth strategies such as acquisitions, partnerships, merger, and expansion of product offerings to strengthen their market footprint.

Authors: Sumant Ugalmugle, Rupali Swain

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