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Global Hemostats Market to Grow at a CAGR of 6.4% During 2022-2027, Aided by the Rise in Favourable Government Policies

According to a new report by EMR titled, ‘Global Hemostats Market Report and Forecast 2022-2027’, the global hemostats market is expected to grow at a CAGR of 6.4% in the forecast period of 2022-2027, driven by the favourable government policies and rising competition among the key players.

The global hemostats industry is driven by the rise in favourable government policies dominantly in North America. Increasing number of people going through surgeries is also helping with the growth of the industry. The growing research that has been done on hemostats to improve the operations has also affected the market growth positively. The market is also being supported by technological advancements in developing countries. In countries like China and India, the frequent cases of heart transplants and heart-related surgeries have significantly contributed to market expansion. The increased penetration of the leading companies in the region is also aiding the hemostat market growth. Meanwhile, the Middle East and Africa are expected to account for steady growth in market share in the forecast period due to the strong demand for better healthcare facilities as the number of surgery-related patients rises.

The growing focus of the leading players on expanding their presence across the key developing markets and increasing the variety of products is expected to significantly boost the industry growth over the forecast period. Teleflex Inc (NYSE: TFX) headquartered in Wayne, Pennsylvania, is an American provider of speciality medical devices for a range of procedures in critical care and surgery. Teleflex has annual revenues of USD 2.4 billion, operations in 40 countries, and more than 12,000 employees. In 2005, Teleflex launched d-stat flowable hemostat, which was shown to reduce the frequency of clinically relevant hematoma formation in pulse generator implants. Such developments are expected to have a positive influence on market growth over the forecast period.

Market Breakup by Product, Formulation, Indication, Application, End Use, and Region:

  • The market is divided on the basis of product into the combination, thrombin-based, gelatin-based, collagen-based, and oxidised regenerated cellulose-based, among others.
  • By formulation, the market is categorised into sheet and pad, sponge, matrix and gel, and powder, among others.
  • By indication, the market is segmented into surgery and wound closure, among others.
  • By application, the market is categorised into cardiovascular, general, gynaecological, orthopaedic, reconstructive, and neurological surgery, among others.
  • The market is divided based on end-use into hospitals, clinics, and ambulatory centres, among others.
  • The regional markets for hemostats can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for hemostats is driven by the rise in cardiovascular disease all over the world.
  • The growing healthcare market has significantly contributed to market expansion.
  • The growing sedentary lifestyle of adults all around the world is also responsible for promoting industry growth.
  • Technological advancements all over the world have impacted the market positively.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for hemostat for the periods (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for product, formulation, indication, application, end use, and major regions of the hemostat.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global hemostat market are Teleflex Incorporated, B. Braun Melsungen AG, Integra LifeSciences Corporation, Pfizer Inc., Baxter International, Inc., and Johnson & Johnson Services, Inc. among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, technological advancements, and capacity expansions of the major players.

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