APAC Hemostats Market

APAC Hemostats Market Size (2022 to 2027)

The Hemostats market size in the Asia Pacific was valued at around USD 726.92 million in 2022. It is further expected to be growing at a CAGR of 6.9% from 2022 to 2027 and worth USD 1014.79 million by 2027. Thus, the Asia Pacific is set on a high growth trajectory in the forecast above period. The reasons behind the booming medical tourism industry, rising disposable income resulting in higher purchasing power and rising awareness regarding better health infrastructure. It captures 20% of the global market.

Y-O-Y growth in the aging population in India and China, the growing number of surgical procedures, and trauma cases are estimated to drive the hemostats market growth in Asia-Pacific. Additionally, an increasing number of FDA approval processes, rising medical tourism industry, enhancing medical healthcare infrastructure are expected to favor the market growth of hemostats in the Asia Pacific. Growing discretionary expenses, increasing investments for healthcare, and reimbursement scenarios are contributing support to the market.

Rigorous regulatory procedures, less awareness regarding the benefits associated with the hemostats products, and the high cost of hemostats equipment and treatment are majorly restraining the market growth in the Asia Pacific. In addition, rules and regulations made of APAC governments and experienced professionals' needs are significant challenges hindering the development.

This research report on the APAC Hemostats Market has been segmented and sub-segmented into the following categories:

By Product Type: 

• Topical Hemostats
• Tissue Sealants
• Cyanoacrylate-based Tissue Adhesives
• Adhesion Prevention Products

By Application: 

• Wound Closure
• Surgical Hemostats

By Distribution Channel: 

• Direct Tenders
• Retail

By Country: 

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of APAC

Regionally, the hemostats market in Asia-Pacific is the fastest-growing region globally due to the patient population with significant growth in surgical procedures and growing product launches.

The Chinese hemostats market is expected to dominate the Asia Pacific market during the forecast period. The increasing number of sports-related injuries, advanced technologies, and rising attention towards effective blood loss management in patients during surgeries are expected to drive the market.

The Indian hemostats market is anticipated to witness rapid growth during the forecast period. This is because the number of hospitals rose from 35,416 to 37,725 from 2015 to 2017; according to the Ministry of Health and Family Welfare, Government of India, healthcare amenities, the increased amount spent towards healthcare fuels the market during the forecast period.

KEY MARKET PLAYERS:

A few promising companies operating in the APAC hemostats market profiled in the report are 3M, ADCO Asia Pacific, Inc., Abbott Laboratories. Other players in the market include Advanced Medical Solutions Group, Plc, and Dymax Corporation.