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Global Hemostasis & Tissue Sealing Agents Market, by Product Type (Topical Hemostats & Adhesives & Tissue Sealing Agents), by End User (Hospitals, Ambulatory Surgical Centers & Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 3,236.2 million in 2016 and is expected to exhibit a CAGR of 8.1% over the forecast period (2017-2025)..
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Hemostasis & tissue sealing agents market is expected to witness significant growth over the forecast period, attributed to rising number of surgeries, coupled with increasing number of trauma cases. For instance, according to the Centers of Disease Control and Prevention, in 2010, around 51.4 million surgical inpatient procedures were performed in the U.S.
Increasing number of trauma cases and emergency department admissions are expected to drive growth of the hemostasis & tissue sealing agents market
The increasing incidence of trauma injury is one of the leading factors for hospital admissions and disability, across the globe, which is further expected to drive growth of the market over the forecast period. For instance, according to a statistical survey conducted by Department of Population Health, New York University School of Medicine 2011, the inpatient database represented 20,659,684 traumatic injury discharges from the U.S.-based hospitals during 2000-2011. Moreover, trauma injury management involves critical operations, which requires to control blood loss by application of topical hemostats or tissue sealing agents. Furthermore, according to the Healthcare Cost and Utilization Project 2014, around 138.7 million emergency department (ED) visits were recorded in the U.S., which accounts for up to 432 patients per 1,000 population. Additionally, growing number of trauma patients is expected to drive demand for hemostats and tissue sealing agents and introduction of novel and innovative products by key players in the market is also expected to drive the market growth over the forecast period. For instance, an India-based medical device maker, Axio Biosolutions became the first Indian manufacturer to market a hemostat product in the U.S. market, post FDA approval. In March 2018, the U.S. FDA granted a 510(k) clearance to Axiostat chitosan hemostatic dressing to stop excessive external bleeding.
Browse 34 Market Data Tables and 38 Figures spread through 150 Pages and in-depth TOC on “Hemostasis & Tissue Sealing Agents Market”- by Product Type (Topical Hemostats & Adhesives & Tissue Sealing Agents), By End User (Hospitals, Ambulatory Surgical Centers & Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Global Forecast to 2025
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Additionally, hemostasis and tissue sealing agents market is expected to witness significant growth over the forecast period, attributed to increasing product launches by market players and product approvals by regulatory bodies. For instance, in June 2017, Ethicon LLC, a subsidiary of Johnson & Johnson received the FDA approval for Surgicel powder absorbable hemostat comprising oxidized regenerated cellulose. Moreover, in 2016, Cohera Medical, Inc. launched a product for surgical adhesive TissuGlu, which comprises tissue layers, and subcutaneous dead space exists between the tissue planes in abdominoplasty. In addition, market players are focusing on adopting mergers and acquisitions strategies to strengthen their position in the global market by expanding their product portfolio. For instance, Baxter International, Inc. acquired two hemostat and sealant products from Mallinckrodt Plc, in order to expand its surgical portfolio of hemostats and tissue sealing agents.
Key Takeaways of the Global Hemostasis & Tissue Sealing Agents Market:
- The global hemostasis & tissue sealing agents market is estimated to exhibit a CAGR of 8.1% over the forecast period, attributed to rising incidence of trauma cases and increasing number of surgical procedures performed, globally
- Among product type, topical hemostats segment is expected to hold dominant position in the market over the forecast period, owing to easy availability and introduction of cost effective solutions in the market, by market players
- Among end user, hospitals segment is expected to hold a dominant position in the global hemostasis & tissue sealing agents market over the forecast period. The segment growth is attributed to increasing number of patients in emergency departments and rising number of surgeries performed in the multi-specialty hospital, which requires hemostasis and tissue sealing agents.
- Among region, North America is expected to hold a dominant position in the global hemostasis & tissue sealing agents market over the forecast period, attributed increasing launches of innovative solutions by market players, coupled with presence of leading market players in the region
- Key players operating in global hemostasis & tissue sealing agents market include Cryolife, Inc. Baxter International, Inc., Ethicon LLC, Integra Lifesciences Corporation, Becton, Dickinson & Company, Cohera Medical, Inc., Pfizer, Inc., Medtronic plc, B. Braun Melsungen AG, MIL Laboratories Pvt. Ltd., and Advanced Medical Solutions Group Plc
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