The global market size for the haemostatic agents market is estimated to grow at a CAGR of 7.2% from 2023 to 2028.
Hemostatic Agents refer to the class of substances usually used to promote hemostasis or stop bleeding. Haemostats are the technical term given to instruments used to reduce or halt bleeding during a surgical procedure.
Significant technological advancements in the field have increased hemostats' usage in surgical procedures in recent times. Common problems faced by hemostats include tissue contamination and ease of use. These have been addressed in the latest wave of innovations. The other significant factors affecting the Haemostatic Agents market include the rising prevalence of diseases and increasing awareness regarding the latest medical practices. Other drivers have increased health consciousness among consumers, the use of new inventions, and enhanced technologies.
Growth opportunities for the Haemostatic Agents Market lie in increasing awareness of the usage of hemostat instruments worldwide. The rise in the demand for surgical procedures to treat various diseases is likely to outshine the market's growth rate. Escalating expenditure on health care, especially in urban areas, boosts the growth rate of the hemostatic agents market. A growing tendency to improve the services in hospitals and promote the patient's well-being after treatment is ascribed to bolster the market's demand. The increasing geriatric population is also one of the factors propelling the growth rate of the hemostatic agents market. The rise in the number of people suffering from chronic diseases like cancer, ophthalmic injuries and replacement, diabetes, urological disorders, and many others where there is a particular need for surgical procedures propels the market's demand to the extent.
As for the market's restraints, the high costs and the unfavorable reimbursement policies are the major hurdles. It, along with the fact that people are unaware of the latest developments in developing and underdeveloped countries, restrains market growth.
Market Size Available
2022 to 2028
2023 to 2028
By Type, Treatment, End User, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This research report on the global hemostatic agents market has been segmented and sub-segmented based on the type, treatment, end-user, and region.
Haemostatic Agents Market – By Type:
Based on type, the thrombin-based hemostats segment held the major share of the market in 2022 and is estimated to grow at a healthy CAGR during the forecast period.
On the other hand, the gelatin-based hemostats segment is predicted to have the highest CAGR in the coming years. Growing awareness of the benefits of these devices in the medical sector magnifies these segments' growth rate. Besides, initiative steps by the government are also accelerating the segment's growth rate.
Haemostatic Agents Market – By Treatment:
Based on treatment, the cardiovascular segment accounted for a notable share of the worldwide market in 2022 and is expected to grow at a prominent CAGR during the forecast period owing to the growing patient population of cardiovascular diseases due to lifestyle changes and food habits.
The General Surgery segment holds the second position in leading the shares.
Haemostatic Agents Market – By End User:
Based on end-user, the hospital segment is predicted to grow at a steady pace during the forecast period. The segmental growth is primarily driven by the increasing number of construction of hospitals and clinics with the latest technology.
Haemostatic Agents Market – By Region:
The Haemostatic Agents Market was dominated by North America in 2022, with the region accounting for 36% of the overall market share. North America was followed next in line by Europe and Asia-Pacific. Asia-Pacific is expected to grow rapidly in the coming years, as is evident from the high CAGR value for the region. Another promising region for the market in Latin America, which is expected to show high growth rates in the coming years.
KEY MARKET PARTICIPANTS:
The Haemostatic Agents market is highly competitive with a large number of players. Haemostatic Agents Industry Key players dominating the market with their products and services 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.
RECENT MARKET DEVELOPMENTS:
The growing prevalence of bleeding disorders, the rising demand for effective haemostatic agents in surgical procedures, and the development of new and advanced haemostatic products propel the market growth.
Johnson & Johnson, Baxter International Inc., Pfizer Inc., and C.R. Bard Inc. are some of the key players in the market.
The risk of adverse reactions and complications associated with certain haemostatic agents, the lack of access to haemostatic products in certain regions, and the high cost of certain products are majorly challenging the growth of the market.
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]