According to FutureWise analysis, the market for Hemostats is expected to reach US$ 3,935 million by 2028 at a CAGR of 6.1%.
Hemostats refer to medical devices or substances used to control bleeding by promoting coagulation at the site of injury or during surgery. They are vital in surgical procedures where bleeding from blood vessels or tissue needs to be controlled to prevent complications and ensure successful surgical outcomes. Hemostats work by forming a mechanical barrier that seals the injured blood vessels or tissue. They promote coagulation by either facilitating platelet aggregation or activating clotting factors. Hemostatic agents can be classified based on their mechanism of action, such as mechanical hemostats, active hemostats, and flowable hemostats.
Mechanical hemostats are non-active agents that work by exerting pressure to compress the blood vessel or tissue to prevent blood flow. They include devices like clamps, sutures, and clips. Active hemostats, on the other hand, are substances that promote coagulation by facilitating the formation of a fibrin clot. These substances can either be derived from biological sources like human or animal plasma or can be synthetic materials. Flowable hemostats, such as sealants, work by adhering to the tissue and promoting coagulation by forming a mechanical barrier. Hemostats come in various forms, including gauze, sponge, film, powder, and sealant. These materials are designed to be biocompatible, absorbable, and appropriate for use in the human body. Some hemostats can be absorbed by the body once the bleeding has stopped, while others require removal once the surgical site has healed. Hemostats are widely used in various surgical procedures, including cardiovascular, orthopedic, and gastrointestinal surgeries. They are also used in emergency medicine, trauma care, and dentistry.
Recent developments by key players in Hemostats Market:
In July 2021, To broaden its portfolio of advanced surgical approaches, Baxter purchased the PerClot Polysaccharide Hemostatic System.
The hemostats market worldwide has witnessed substantial growth in recent times and is anticipated to maintain a steady growth rate in the future. One of the major drivers of the hemostats market is the rising number of surgical procedures being performed globally. As the population ages, the demand for surgical procedures is expected to increase, driving the demand for hemostats. Additionally, the growing trend towards minimally invasive surgeries is also influencing the growth of the hemostats market, as hemostats play a critical role in ensuring safety during these procedures. Another factor driving the growth of the hemostats market is advancements in hemostatic technologies. The development of new hemostatic agents and products, such as topical hemostats and sealants, has expanded the range of applications for hemostats and is driving the demand for these products. Additionally, the use of nanotechnology and other innovative technologies is expected to further drive growth in the hemostats market. The hemostats market is also benefiting from increasing healthcare expenditure globally. Governments and private firms around the world are investing heavily in healthcare infrastructure, including the purchase of medical devices such as hemostats.
One major challenge faced by the hemostats market is the high cost of some hemostatic agents and products. This can make it challenging for healthcare professionals to afford the latest technologies and can limit the growth of the market. Additionally, the use of some hemostatic agents has been associated with adverse events, which can lead to increased regulatory scrutiny and potentially limit this market’s growth.
FutureWise Market Research has published a report that provides an insightful analysis of Hemostats Market trends that are affecting the overall market growth. This report will provide a detailed analysis of market share, regional insights, and competitor analysis that includes stature of key manufacturers operational in this industry. By the end of the forecast period FutureWise research analysts projects that Hemostats Market will experience a significant growth. According to the analysis done, this report will help understand the information referring to the total valuation held by this industry. Additionally, this report will help in understanding the growth opportunities held by various segments of this market, further assist in making better strategic and expansion decisions by key stakeholders of an organization.