The Hemostats Market trends indicate a growth from USD 2.7 billion in 2023 to USD 3.7 billion by 2028, driven by a CAGR of 6.7%. Hemostats play a vital role in managing surgical bleeding, with increasing market relevance due to concerns about post-operative adhesions.
Over the years, the hemostats market has witnessed significant technological advancements. In recent years, the hemostats market has witnessed a remarkable surge in novel advancements, revolutionizing the way we manage bleeding and promote surgical hemostasis. The future holds promise for the development of new hemostatic agents to address bleeding disorders and other related medical conditions. Ongoing research and advancements in medical science are paving the way for innovative solutions that are more effective, safer, and tailored to individual patient needs. Also, continuous advancements in hemostats in terms of productivity, ease of use, and improved workflows have generated significant interest among research laboratories and other end users. This has increased the adoption of hemostats.
Based on type, the global hemostats market is segmented into oxidized regenerated cellulose-based hemostats, thrombin-based hemostats, combination hemostats, gelatin-based hemostats, collagen-based hemostats, and other hemostats. In 2022, the oxidized regenerated cellulose-based (ORC) hemostats segment dominated the hemostats market. The cost-effectiveness of ORC-based hemostatic agents, relative to their clinical benefits, is a key factor contributing to their market dominance.
Based on formulation, the hemostats market is segmented into matrix & gel hemostats, sheet & pad hemostats, sponge hemostats, and powder hemostats. In 2022, the matrix & gel hemostats segment account for the largest share of the hemostats market due to their widespread adoption driven by their well-rounded efficacy and ease of application.
The global hemostats market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. During the forecast period, the Asia Pacific market is estimated to experience the highest CAGR. Many countries in the Asia Pacific region have been experiencing steady growth in healthcare expenditure. Growth in this market can be attributed to the increasing prevalence of chronic conditions, the growing per capita income, the expansion of private-sector hospitals to rural areas in various APAC countries, and the presence of high-growth markets in the region.
Source:https://www.marketsandmarkets.com/PressReleases/hemostats.asp
https://www.marketsandmarkets.com/ResearchInsight/hemostats-market.asp
https://finance.yahoo.com/news/hemostats-market-expected-reach-3-123000496.html