The global hemostatic agents market was valued at USD 3,339.4 Million in 2017 and is projected to reach USD 5,441.5 Million by 2025, exhibiting a CAGR of 6.4%. The report classifies the global market in terms of various segments and offers a comprehensive overview. According to the report the market in North America was valued at US$ 1173 Mn in 2017. The North America market was leading at a global sphere in the same year. According to the report, the trend is unlikely to change during the forecast period 2018-2025.
Growth the market witnessed in North America is attributable to the increasing demand for surgical procedure in the region. Besides this, as per a research conducted by the American College of Obstetricians and Gynecologist, in the U.S. the rate of postpartum hemorrhage increased by 25.9% approximately during the last decade. This is likely to fuel the demand for hemostatic agents for surgery and other purposes.
The hemostatic agents market in Asia Pacific is expected to grow at a relatively higher CAGR. Baxter (the leading organization in global market), plans to expand its operation in emerging nations such as India and China to enhance its accessibility. This is expected to propel the growth rate of the Asia Pacific market. Meanwhile, the Europe market is likely to expand at a low CAGR due to the presence of a smaller patient pool compared to Asia Pacific and North America.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• Baxter International Inc.
• CryoLife Inc.
• Integra Life Sciences
• Ethicon LLC.
• Pfizer Inc.
“Baxter Widening its Distribution Network Across Regions”
Baxter emerged dominant in the hemostatic agents market in 2017. The growth witnessed is attributable to its diversification strategy implemented to improve the accessibility of its brands. The trend is unlikely to change and Baxter may continue to dominate the global market during forecast period.
Strong brand presence, diversified product portfolio, and intense R&D conducted on hemostatic agents are a few factor contributing to Baster’s expansion. Some of the other companies operating in the hemostatic agents market are Stryker, CryoLife Inc., Integra Life Sciences, BD, Ethicon LLC., Pfizer Inc., Medtronic, and Biom’up.
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“Combination Hemostats to Dominate the Global Market”
In terms of product type, the combination hemostats segment accounted for 14% of the global market in 2017. Combination hemostats are proven to be very effective and offer faster healing. Combination hemostats are capable of offering efficient hemostasis in shorter time owing to rapid action of thrombin and gelatin. Rising adoption of combination hemostats is anticipated to drive the hemostatic agents market during the forecast period 2018-2025.
The factors expected to drive the hemostatic agents market are increasing incidence of hemorrhage during surgery and rising emphasis on blood management. Moreover, innovations in surgical procedure such as robot assisted surgery and rising geriatric population are anticipated to fuel the demand in market.
By Product Type
• Active Hemostats
o Thrombin based Hemostats
o Fibrin Sealants
• Passive Hemostats
• Combination Hemostats
• Cardiovascular Surgery
• General Surgery
• Plastic Surgery
• Orthopedic Surgery
• Others (OBGYN, Urology, transplant, etc.)
• North America (USA and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
• Latin America (Brazil, Mexico and Rest of Latin America)
• Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)