Market Size: USD 3.92 billion in 2019, Industry Growth: CAGR 8.1% Market Trends: Increasing incidences of target diseases and novel surgeries along with the rising demand for improved healthcare technology.
Increasing surgical processes, rising trauma cases, growing road accident cases, urgent requirements for blood in cases of blood loss, and the introduction of advanced tissue sealing compounds are significant factors responsible for a high growth rate of the global hemostasis and tissue sealing agents during the projection period.
The global hemostasis and tissue sealing agents market is predicted to rise from USD 3.92 billion in 2019 to USD 7.30 billion by 2027, with a CAGR of 8.1% through the forecast period.
One of the major concerns during any surgery is excessive blood loss. Hemostasis is a process that prevents excessive bleeding from the site of injury by forming blood clots. The initial hemostasis response is given by the platelet cells.
There has been a vast development in the hemostatic agents and the tissue sealants that are used in many surgical processes globally. These sealing agents used in various medical applications act as a catalyst during the process of blood clotting. This enables quick clotting of blood and prevents blood loss. Some of the commonly used sealants include thrombin sealants, albumin, fibrin glue, gelatin matrix, and bovine serum. Some advantages offered by the tissue sealants are easy usage, the reduced requirement from a blood transfusion, and reduced exudates.
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In the coming years, the growing acceptance of technologically advanced procedures, favorable government schemes, and rising investments in healthcare facilities and infrastructure are expected to fuel the market expansion. Moreover, the rising cases of diabetes, cardiovascular conditions, liver problems, and urological conditions, mainly due to lifestyle changes and unhealthy eating habits worldwide, will lead to a rise in the number of surgeries. The urgent need to stop the blood during surgeries and the growing demand for surgical processes due to growing road accidents and the rising chronic diseases globally are some of the factors responsible for the hemostasis and tissue sealing agents market expansion.
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Further key findings in the report:
- On the basis of product type, the tropical hemostats sub-segment is foreseen to reach USD 3.86 billion by 2027, with a high CAGR of 8.5% due to the unique properties like cost efficiency, low tissue reactivity, and rapid sealing properties of these products.
- Due to the increasing incidences of road accidents and sports injuries, the adhesive and tissue sealants sub-segment was valued at USD 1602.23 million in 2019 and is predicted to grow at a CAGR of 7.8% from 2020 to 2027.
- On the basis of end-user, the home sub-segment is expected to grow at a steady CAGR of 7.7% during the forecast period.
- In 2019, North America led the global hemostasis and tissue sealing agents market, but the Asia Pacific region is predicted to dominate the market with the highest CAGR during the projection period.
- The Asia Pacific region is expected to observe the highest CAGR of 8.9% during the forecast period due to the untapped market potential of the rising occurrences of chronic illnesses in nations like India and China, along with the favorable government policies and schemes combined with high investment rate in the healthcare sector and huge patient pool are the key factors driving the market in this region.
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Key players in the hemostasis and tissue sealing agent market:
- Johnson & Johnson
- C R Bard
- Integra Life Sciences
- Cohera Medical
- Equimedical
- CryoLife
- Advance Medical Solutions
- Smith & Nephew
- Pfizer
- B Braun Medical Inc.
For the purpose of this report, Reports and Data has segmented the Hemostasis and Tissue Sealing Agents market on the basis of type, material type, application type, end-user, and region:
Type Outlook (Revenue, USD Million; 2017–2027)
- Topical Hemostats
- Adhesives & Tissue sealants
- Others
Material Type Outlook (Revenue, USD Million; 2017–2027)
- Collagen Based
- Oxidized Regenerated Cellulose (ORC) based
- Gelatin based
- Polysaccharide Based
- Others
Application Type Outlook (Revenue, USD Million; 2017–2027)
- Minimally invasive surgery
- General Surgery
- Others
End-User Outlook (Revenue, USD Million; 2017–2027)
- Hospital
- Ambulatory Surgical Centers
- Home Care Settings
- Others
Regional Outlook (Revenue in USD Million; 2017–2027)
North America
- U.S.
- Canada
Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- Rest of Asia Pacific
Latin America
Middle East & Africa
Table of Content
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Intensive marketing strategies
3.2. Rapid Development in healthcare infrastructure
3.3. Rapid penetration of major players
3.4. Growing prevalence of chronic disease
Chapter 4. Hemostasis and Tissue Sealing Agents Segmentation & Impact Analysis
4.1. Hemostasis and Tissue Sealing Agents Segmentation Analysis
4.2. Hemostasis and Tissue Sealing Agents Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Hemostasis and Tissue Sealing Agents Market Impact Analysis
4.4.1. Market driver analysis
4.4.1.1. Increase in demand for tissue sealants in surgeries
4.4.1.2. Wide-range of applicability
4.4.2. Market restraint analysis
Continued….
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