Hemostasis and Tissue Sealing Agents Market Analysis
The Hemostasis and Tissue Sealing Agents Market size is predicted to grow at an 8.6% CAGR between 2018- 2023, reveals the new Market Research Future (MRFR) report. Hemostasis and tissue sealing agents, simply put, are materials used to restrict hemorrhage or bleeding during surgical procedures or from injuries.
Various factors are adding to the global hemostasis and tissue sealing agents market share. These factors, as per the new MRFR report, include increasing FDA approvals for different hemostatic methods, rising surgery volumes, increasing geriatric population, a constant boost in medical conditions that need surgeries worldwide, and rising prevalence of pulmonary, cardiovascular, vascular, and gastrointestinal surgeries. Additional factors adding market growth include increasing use of hemostat products by physicians and surgeons, the rising number of inpatient surgeries, and increasing cases of chronic conditions.
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On the contrary, high surgical procedure costs in developing countries, and lack of reimbursement policies are factors that may limit the hemostasis and tissue sealing agents market growth over the forecast period.
Hemostasis and Tissue Sealing Agents Market Segmentation
The MRFR report offers an inclusive segmental analysis of the global hemostasis and tissue sealing agents market based on end user and product.
By product, the hemostasis and tissue sealing agents market is segmented into adhesive & tissue sealant, and topical hemostats. The topical hemostats segment is again segmented into flowable, mechanical (polysaccharide based hemostats, gelatin based hemostats, cellulose based hemostats, and collagen based hemostats. Adhesive & tissue sealant is again segmented into adhesion barrier, natural, and synthetic. Of these, the topical hemostats segment is predicted to lead the market over the forecast period for these agents’ quick absorbability, non-antigenicity, minimal tissue reactivity, and cost-efficiency. Similarly, adhesive & sealants too, play a pivotal role in limiting blood loss during different surgical processes and needs minimal invasion.
By end user, the hemostasis and tissue sealing agents market is segmented into ambulatory centers, hospitals, and others. Of these, hospitals will spearhead the market over the forecast period for the rising number of patients visiting emergency departments coupled with the increasing number of surgeries conducted at multi-specialty hospitals.
Hemostasis and Tissue Sealing Agents Market Regional Analysis
Based on the region, the global hemostasis and tissue sealing agents market report covers the recent trends and growth opportunities across Europe, the Americas, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the Americas will dominate the market over the forecast period for the increasing number of surgical procedures, the presence of top manufacturers in the region, and high clinical research and development budgets by private & public organizations and also the government.
The Hemostasis and Tissue Sealing Agents Market in Europe is predicted to hold the second-largest share over the forecast period for swift approval to technologically advanced and new products in the healthcare system and rising incidence of surgical procedures.
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The Hemostasis and Tissue Sealing Agents Market in the APAC region is likely to develop at the fastest pace during the forecast period for increasing healthcare expenditure, especially in developing countries and increased medical tourism for surgical procedures.
The Hemostasis and Tissue Sealing Agents Market in the MEA is predicted to have the smallest share over the forecast period. The major share is held by the Middle East region for the increasing initiatives by the government for the healthcare sector.
Hemostasis and Tissue Sealing Agents Market Key Players
Leading players profiled in the global hemostasis and tissue sealing agents market report include Advanced Medical Solutions Group Plc, MIL Laboratories Pvt. Ltd,. B. Braun Melsungen AG, Medtronic plc, Pfizer, Inc, Cohera Medical, Inc., Dickinson & Company, Becton, Integra Lifesciences Corporation, Ethicon LLC, Baxter International, Inc, Cryolife, Inc., and Johnson & Johnson. Industry players have incorporated several strategies to create a foothold in the market, such as mergers and acquisitions, strategic alliances, extensive research and development activities, joint ventures, collaborations, product launch, and contracts.
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