The size of the Haemostatic Agents Market in Europe is estimated to grow at a robust CAGR from 2023 to 2028.
The usage of advanced hemostasis medicines is becoming increasingly necessary as the number of patients suffering from bleeding disorders rises. Hemostasis agents will be in high demand due to the increase in surgical operations, surgical technique advances such as robot-assisted surgery, rising adoption of combination hemostats, rising frequency of chronic diseases among the aging population, which propels the market forward in Europe. An increase in the number of injuries caused by sports and road accidents is another key factor promoting the growth of the hemostatic agents market in the European region.
Geriatric individuals necessitate immediate attention and are prone to injuries and wounds that take a long time to cure. As the population shifts toward a more active lifestyle, the number of minor injuries and wounds is predicted to rise, fueling the market growth. Chronic disorders eventually lead to patients undergoing surgical operations, which accelerates their growth. Chronic illnesses that require these products include hernia repair, diabetes, spine injuries, ocular injuries and replacements, urological disorders, and burns.
The high cost of surgical treatments, as well as unfavorable reimbursement policies, may limit market expansion. Furthermore, in this nation, a lack of awareness and awareness about recent technological developments could restrict the growth of the European Hemostatic Agents market. Furthermore, the strict regulatory environment surrounding the approval of these sealing agents is a significant growth hurdle. In addition, the increased usage of off-label hemostat medicines is expected to restrict market growth. Another major stumbling block to growth is the expensive cost of tissue sealing agents.
This research report on the European haemostatic agents market has been segmented and sub-segmented into the following categories:
Regionally, the European region has the second-highest market share globally, only behind the likes of North America, albeit with a low CAGR rate. The low growth rate of the region can be attributed to the fact that most countries in the region are at their pinnacle of development, and the room to grow is fast decreasing.
Furthermore, hospitals and clinics have increased their use of hemostats due to the rapid growth in other surgical procedures such as laparoscopy, knee and hip replacement surgeries, hernia operations, and the growing demand for minimally invasive procedures that offer less pain and faster recovery. The introduction of modern and new products such as FLOSEAL, TISEEL, and HEMOPATCH is projected to boost demand in Europe. The growing geriatric population is likely to fuel the regional market, resulting in a higher number of procedures. The strong marketing of such devices in the region is the main reason for the significant share. Other reasons driving growth include the growing use of such devices in surgeries and other medical applications and the desire for sealing agents that reduce post-operative problems and speed up recovery. The adoption of technologically improved products and the large volume of surgical procedures leading to a higher demand for the product are some of the causes that have led to the domination.
KEY MARKET PLAYERS:
Companies playing an influential role in the European haemostatic agents market profiled in this report are Ethicon, Pfizer, Baxter International, R. Bard, The Medicines Company, Anika Therapeutics, Advanced Medical Solutions, Integra LifeSciences, B Braun Melsungen, Gelita Medical, Equimedical, Vascular Solutions, Marine Polymer Technologies, and Z-Medica.
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