Hemostats Market by Product Type, End User 2027 | Baxter, Pfizer, GELITA MEDICAL, Integra Lifesciences, Z-Medica, Biom'up

Hemostats play a basic and fundamental role during surgical procedures as it enables superior blood loss management. The products have intraoperative and postoperative applications. Hemostats can be used for oozing venous type bleeds, diffusion of raw surface bleeding, bone bleeding, and needle-hole bleeding. The global hemostats market is being driven by factors such as increasing number of surgical procedures, growing focus on blood loss management during surgical procedures with an aim to avoid post-surgical complications and increasing number of government approvals but reluctance of product acceptance due to frequent recalls and lack of reimbursements are anticipated to hinder the hemostats market growth. However, the growing demand for modern healthcare facilities in emerging nations and a growing emphasis on superior surgical outcomes are likely to offer significant opportunities for the growth of the global hemostats market during the forecast period.

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The hemostats market was valued at US$ 2,206.00 million in 2019 and is expected to grow at a CAGR of 6.3% from 2020 to 2027 to reach US$ 3,557.41 million by 2027.

Some of the prominent players operating in hemostats market are, Johnson & Johnson Services, Inc. (Ethicon LLC), BD, Baxter, B. Braun Melsungen Ag, Pfizer, Inc., GELITA MEDICAL, Integra Lifesciences Holdings Corporation, Z-Medica, LLC, Biom'up, and Teleflex Incorporated. The market players are focused towards acquisitions with industry players in order to sustain their position in the market. For instance, in December 2017, BD completed acquisition of C.R. Bard with an aim to expand clinical products portfolio and customer base.

The hemostats market by product is segmented into thrombin based hemostats, combination hemostats, oxidized regenerated cellulose based hemostats, gelatin based hemostats, and collagen based hemostats. In 2019, the thrombin based hemostats segment held a largest market share of the hemostats market. This segment is also expected to dominate the market in 2027. The large share of thrombin based hemostats can be attributed to various advantages offered by these hemostats, deep market penetration and variety of products offered by multiple players to suit diverse medical application. On the other hand, the combination hemostats segment is anticipated to witness the highest growth rate during the forecast period. Certain factors such as effectiveness of the hemostats in lesser time and better efficient blood clotting are expected to drive the segment growth.

Factors such as increase in the number of surgical procedures and an increasing incidences of sports injuries are expected to upsurge the market growth. In addition, growth in the global healthcare market is likely to have a positive impact on the growth of the market in the coming years.

Products Insights

The thrombin based hemostats captured the largest share in the global hemostats market. Thrombin based hemostats are considered to be active agents that participate in the coagulation cascade to form fibrin clots and are effective to make an intact coagulation system. Along with superior benefits offered by thrombin based hemostats, an increasing number of product launches and approvals are likely to drive the adoption of thrombin based hemostats, which will in turn fuel the growth of the segment in global hemostats market during the forecast period. For instance, in June 2019, Ethicon (Johnson & Johnson) got FDA approval for its thrombin based hemostat which incorporates superior hemostatic properties. Additionally, increasing the number of research and development activities by market players is also expected to drive the segment growth.

Strategic Insights

Collaborations and technology partnerships by the operating players in the market with an aim to bridge the demand-supply gap is anticipated to play a major role in growth of the hemostats industry during the forecast period. Moreover, increasing adoption of advanced surgical products to prevent surgical hemorrhage is predicted to accelerate the market growth in near future.

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