The global hemostat market was valued at USD 2.9 billion in 2021 and it is anticipated to grow further up to USD 5.0 billion by 2031, at a CAGR of 5.6% during the forecast period.
Blood loss happens during operations when blood vessels are damaged. Coagulation of the blood is essential to prevent excessive blood loss. Hemostasis is the process through which blood clots develop at the site of damage. Hemostats are surgical instruments used during operations to manage the patient’s bleeding. These devices aid in the short-term formation of blood clots to stop bleeding. The employment of these instruments must be carefully controlled and confined.
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Market Trends and Drivers
The increase in surgical procedures performed globally, which has given rise to an increase in the incidence of bleeding issues after surgeries, is the most important factor driving the global market. The availability of a wide variety of medical tools for management has significantly improved in recent years, as has the capacity to establish hemostasis during surgical procedures.
As bleeding during operations is one of the most feared consequences to arise in these procedures, new estimates provided by the National Center for Biotechnology Information (NCBI) show that approximately 60–70% of all transfused red blood cells are employed in a surgical environment. Due to the great reduction in the risk of bleeding issues during surgical procedures, there is now a significant demand for the product offered on the global market.
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The rising frequency of product introductions with cutting-edge features is another important market-driving trend throughout the projection period. The effectiveness of modern goods in achieving hemostasis is one of its benefits. The product’s improvements in R&D are also responsible for additional benefits including lower prices and a decreased risk of infections.
This has prompted the creation and production of technologically upgraded product options with a number of enhanced characteristics. In terms of the surgical procedures covered, it has also led to a wider range of applications for these product offerings.
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Global Hemostat Market Segmentation
By Type
- Thrombin-Based Hemostats
- Oxidized Regenerated Cellulose-Based Hemostats
- Combination Hemostats
- Gelatin-Based Hemostats
- Collagen-Based Hemostats
By Formulation
- Matrix & Gel
- Sheet & Pad
- Sponge
- Powder
By Application
- Orthopedic Surgery
- General Surgery
- Neurological Surgery
- Cardiovascular Surgery
- Reconstructive Surgery
- Gynecological Surgery
- Other Surgeries
Major Players in the Global Hemostats Market
The major players studied in the market are Baxter International Inc. (US), Ethicon (US), C.R. Bard (US), B. Braun Melsungen AG (Germany), Medtronic plc (Ireland), Teleflex Incorporated (US), Integra Life Sciences (US), Hemostasis, LLC (US), Pfizer Inc. (US), Stryker (US), CyroLife Inc. (US), and GELITA MEDICAL GmbH (Germany) among others.
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