The global hemostasis products market is estimated to secure a valuation of USD 1.58 billion in 2023 and is predicted to surpass a valuation of USD 2.65 billion by 2033. The market is anticipated to rise at a CAGR of 5.3% during the forecast period.
Hemostasis can be achieved in various other ways if the body cannot do it naturally (or needs help) during surgery or medical treatment. Hemostasis is harder to achieve when the body is under shock and stress. Chemical and mechanical or physical agents can achieve hemostasis.
Topical hemostatic agents (physical agents, biologically active agents) and tissue adhesives are used as alternatives to standard surgical techniques to manage bleeding from surgical surfaces. They are particularly useful for diffuse non-anatomic bleeding associated with sensitive structures and bleeding in patients with hemostatic abnormalities.
What are the Factors Driving the Global Market?
An increase in accidents and trauma cases is estimated to propel the growth of the hemostasis products market.
Increasing accident and trauma cases globally is estimated to drive global market growth. An increasing number of surgeries performed across the globe is anticipated to boost the demand for hemostasis products, as these products play a vital role in wound healing.
The leading causes of surgeries are cardiovascular disease, stroke, cancer, and injury. And any surgical procedure can develop severe complications and result in uncontrollable bleeding, thus increasing demand for hemostasis products.
For instance, globally, 310 million major surgeries are performed yearly, around 40 to 50 million in the United States and 20 million in Europe. It is estimated that 1-4% of these patients are estimated to die, up to 15% are estimated to have serious postoperative morbidity, and 5-15% are estimated to be readmitted within 30 days. Thus, the increasing number of accident and trauma cases coupled with the increase in surgical procedures is estimated to create lucrative opportunities for the market during the forecasting period.
Technological advancement in the healthcare sector to boost the growth of the market
High-level technological advancements, strong economies, and a swarming pool of patients with various blood disorders are the chief factors that are estimated to boost the market for hemostasis products shortly. The technological advancement in healthcare and high investment in research and development are also driving the hemostasis products market in the forecasting period.
The rapidly growing medical tourism sector, coupled with the high investment made by governments of various countries towards the growth of the healthcare sector, is estimated to provide lucrative opportunities for market growth. The growing investments in the healthcare sector by various government and non-government companies bode well for the growth of the global market.
For instance, EndoClot Plus, Inc. announced that USA Food and Drug Administration (FDA) has approved EndoClot Polysaccharide Hemostatic System, an innovative product that assists Gastroenterologists in stopping bleeding rapidly.
Which Factors Are Restraining the Growth of the Global Market?
High costs associated with hemostasis products may restrain the growth of the market.
Although the global market has numerous end-uses, some obstacles likely challenge market growth during the forecasting period. The developing region with limited healthcare spending and a lack of skilled professionals for surgical procedures may impede the market's growth in coming years.
The high expenses of hemostat products may impede the market's growth in the forecasting period. Also, stringent regulatory policies and the use of off-label products are projected to restrain the market's growth over the forecast period.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 5.3% |
| Market Valuation (2023) | USD 1.58 billion |
| Market Valuation (2033) | USD 2.65 billion |
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The market grew steadily between 2018 and 2022 due to increasing demand for hemostasis products. The demand for hemostasis products increased due to increase surgical procedures, advanced medical technology, and the rising prevalence of bleeding disorders. The healthcare manufacturers continue to expand the global market by introducing advanced and improved efficiency of products.
The rising aging population, increasing chronic diseases, and rapidly growing medical and healthcare devices are fueling the global market by 2033.
The myocardial infarction segment accounts for the highest market share of the market
Based on Application, the global market is segmented into trauma, surgeries, hemophilia, and myocardial infarction. Among these, the myocardial infarction segment is likely to account for a large share of the global market during the forecast period.
The myocardial infarction segment dominated the market with a revenue share of over 19.5% in 2023 and is expected to register the highest CAGR from 2023 to 2033. The main factor driving the segment's growth is increasing global cardiovascular disease prevalence owing to sedentary lifestyles, unhealthy eating habits, excessive intake of alcohol, and smoking.
On the other hand, the hemophilia segment accounts for a significant share of the market. The growing number of surgeries boosts, and the use of hemostasis products for treating hemophilia was the leading contributor to the global market during the forecasting period.
Topical Hemostat Segment to Remain the Most Lucrative for the global market
FMI’s latest report on the global market forecasts the topical hemostasis segment to account for the largest market share of more than 68.5% in 2023. It is anticipated to witness significant growth during the forecast period. Topical hemostasis products are in demand as they are cost-effective, efficient, easy to use, and biodegradable. Also, topical hemostasis products are highly preferred in surgical procedures. Thus, more surgical procedures are estimated to favor segmental growth.
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Rise in the prevalence of cardiovascular diseases and blood clotting disorders to propel the market's growth.
The North American hemostasis products market is expected to accumulate a market share of 29.5% in 2023, and the trend is forecast to continue over the assessment period. On a geographic basis, North America is anticipated to be the largest market for hemostasis products due to rising healthcare infrastructure, high adoption of advanced automated analyzers, and a large patient pool. For instance, in 2018, Sysmex Corporation launched its next-generation analyzers in the hemostasis field - the Automated Blood Coagulation Analyzers CN-6000 and CN-3000.
Furthermore, technological advancements have increased access to healthcare services, and the entry of new manufacturers is likely to fuel market expansion in the region over the years to come. In addition, the increasing prevalence of numerous blood clot disorders is aggressively propelling demand for hemostasis diagnosis. According to the US Centers for Disease Control and Prevention (CDC), hemophilia occurs in approximately 1 in 5,617 live male births. There are between 30,000 - 33,000 males with hemophilia in the United States.
The presence of an advanced healthcare system in the region provides growth revenues.
In the forecasting period, Europe is expected to accumulate a significant market. Europe also offers potential growth opportunities in the market due to the increased prevalence of various hemostasis disorders, the presence of regional and international market players, and massive investments in Research & Development across the country are expected to boost the market's growth in the region.
Increasing awareness about the use of hemostatic agents, adhesives, and tissue sealants to avoid the risk of postoperative bleeding propels the demand for hemostasis products. Furthermore, improving healthcare infrastructure, increasing the focus of emerging and leading market players on developing markets, rise in the number of hospitals, increasing the incidence of cardiovascular diseases, and growing adoption of hemostasis diagnostics products as part of the treatment of diseases are some of the key factors that have driven demand for hemostasis diagnostics in Europe.
Presence of top pharma and biotech companies to drive the growth of the market
Asia Pacific region is expected to show a higher market attractiveness index and is considered a highly lucrative market. This region is expected to dominate the global market in terms of revenue share and grow at a comparatively higher growth rate than other regions due to the presence of a technologically advanced healthcare system with advanced treatments and a large number of patients in countries like India, China, and Japan.
The growth of the market in the Asia Pacific is attributed to the presence of top pharma and biotech companies involved in therapeutics development, and a well-established healthcare infrastructure boosts the growth of the global market. Also, the increasing demand for hemostasis products and the rising prevalence of the cardiovascular disorder in the region provides opportunities for market growth.
Manufacturers are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. Some startup companies operating in the hemostasis products market are AVS Electrotherm, Ortholink Marketing, Globalstar company, AGD Biomedicals, and Sysmex.
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The market is highly fragmented by the number of key players that develop advanced and innovative products globally. They are adopting various marketing strategies to drive the market to another level: mergers, collaborations, acquisitions, agreements, and product launches.
Key players in the global 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 various others.
Recent Developments in the Global Market are:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered |
Product, Application, End Use Industry, Region |
| Key Companies Profiled |
Medtronic; Johnson & Johnson; Baxter International; Pfizer Inc.; Becton Dickinson and Company (BD); B. Braun Melsungen AG; Tricol Biomedical; Hemostasis LL; Teleflex Incorporated; CuraMedical BV |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Adoption of hemostasis products globally is forecasted to surge at a 5.3% CAGR until 2033.
The net worth of hemostasis products available worldwide in 2023 could be USD 1.58 billion.
The topical hemostasis segment dominates with an estimated 68.5% market share for 2023.
The myocardial infarction is currently the leading application with a 19.5% market share in 2023.
The North America market is poised to lead with an almost 29.55 market share in 2023.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Topical Hemostasis Products 5.1.1. Gelatin 5.1.2. Polysaccharides 5.1.3. Oxidized Regenerated Cellulose 5.1.4. Collagen 5.2. Infusible Hemostasis Products 5.2.1. Platelet Concentrate from Donor Blood 5.2.2. Fresh Frozen Plasma (FFP) 5.2.3. Factor VIII 5.2.4. Prothrombin 5.3. Advanced Hemostasis Products 5.3.1. Flowable 5.3.2. Thrombin 5.3.3. Synthetic Sealants 5.3.4. Fibrin 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Trauma 6.2. Surgery 6.3. Hemophilia 6.4. Myocardial Infarction 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Hospitals 7.2. Ambulatory Surgical Centers 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Medtronic 18.2. Johnson & Johnson 18.3. Baxter International 18.4. Pfizer Inc. 18.5. Becton Dickinson and Company (BD) 18.6. B. Braun Melsungen AG 18.7. Tricol Biomedical 18.8. Hemostasis LLC 18.9. Teleflex Incorporated 18.10. CuraMedical BV 19. Assumptions & Acronyms Used 20. Research Methodology
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Hemostasis Products Market
