Wilmington, Delaware, United States, Transparency Market Research, Inc. , Oct. 22, 2024 (GLOBE NEWSWIRE) -- The hemostatic agents industry (Industrie für blutstillende Mittel) was worth US$ 2.6 billion in 2022. A CAGR of 6.2% is expected from 2023 to 2031, and the market will reach US$ 4.5 billion in this period. Globally, the prevalence of chronic illnesses like cancer, liver disease, and cardiovascular ailments is rising. Surgical interventions are often necessary for the diagnosis, treatment, or management of several of these disorders.
Patients with chronic illnesses frequently have complicated medical histories when they first arrive, which puts them at risk for hemorrhage during surgery. Hemostatic medications are, therefore, in greater demand to control intraoperative and postoperative bleeding in this patient population.
As minimally invasive surgical techniques become more popular, trauma is reduced, recovery is sped up, and complications are reduced. However, effective hemostatic drugs are still required for these surgeries to halt the bleeding at the surgical site. The need for hemostatic agents appropriates for minimally invasive procedures is expected to rise due to the growing popularity of these treatments across various medical specialties, driving the market's expansion.
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Key Findings of the Market Report
- Based on product type, active agents are anticipated to drive demand for hemostatic agents in the future.
- The hemostatic agents market in North America held the largest share in 2022.
- As transplantation rates rise, hemostatic agents will become more prevalent on the market.
- In terms of distribution channels, large hospitals (500 +beds) are a major driver of hemostatic agent sales.
Global Hemostatic Agents Market: Competitive Landscape
Hemostatic agents are mainly used to treat excessive blood flow during severe injuries and surgeries, and most major players focus on providing various options. The company is introducing cutting-edge hemostatic agents that are more precise, effective, and accessible, forming strategic alliances, and expanding globally.
Key Market Players
- Baxter
- Ethicon Inc.
- BD
- B. Braun SE
- Pfizer Inc.
- Teleflex Incorporated
- CryoLife, Inc.
- Integra LifeSciences
- Advanced Medical Solutions Group plc
- GELITA AG
Key Developments
- In July 2023, Baxter International Inc., the leading global provider of surgical innovation, announced the introduction of PERCLOT absorbable hemostatic powder in the U.S. The PERCLOT hemostatic powder, which is passive and absorbable, is designed to treat mild bleeding in patients with intact coagulation.
- In August 2023, Teleflex Incorporated, a global leader in medical technology, announced the FDA's approval of its QuikClot Control+ Hemostatic Device in cardiac surgery procedures and bone surface bleeding following sternotomies, according to the U.S. Food and Drug Administration (FDA). By doing this, clinicians can control all bleeding during cardiac surgery using the QuikClot Control+ Device.
Global Hemostatic Agents Market: Growth Drivers
· The number of surgical procedures performed across the globe is steadily on the rise. The frequency of chronic conditions requiring surgical intervention, improvements in medical technology, and easier access to healthcare facilities are some of the causes contributing to the rise. As a result, the need for hemostatic medicines to control bleeding during different surgical operations is rising concurrently.
· Populations worldwide are aging, with a greater proportion of elderly individuals. The proportion of the older population with health issues requiring surgery is often higher. In addition, physiological changes associated with aging may increase the risk of bleeding during surgery. As a result, there is an increased need for hemostatic drugs to meet the specific requirements of this group.
· Hemostatic agent innovation has resulted in the creation of cutting-edge products with enhanced safety and efficacy characteristics. Manufacturers invest in research and development to develop hemostatic treatments that promote quick hemostasis, reduce tissue injury, and improve biocompatibility. As healthcare practitioners seek better ways to handle bleeding during surgery, these technical developments are causing the market to grow.
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Global Hemostatic Agents Market: Regional Landscape
- North America has a highly developed and modern healthcare system. This infrastructure makes a variety of medical supplies, such as hemostatic agents, more easily accessible and encourages the use of cutting-edge surgical methods. The strong healthcare system in the area fuels demand for superior hemostatic agents that adhere to strict regulations and provide the best possible results for patients.
- With large investments in healthcare delivery, innovation, and research, North America has some of the highest healthcare spending in the world. Healthcare facilities can purchase sophisticated hemostatic agents and other medical supplies required for surgical procedures because of the significant spending on healthcare. Affordability of reimbursement rules in the region further encourages using hemostatic drugs in surgical settings.
- Chronic illnesses, including diabetes, cancer, and cardiovascular problems, are common in North America and place a significant strain on the healthcare system. Hemostatic medicines are in greater demand due to the need to manage bleeding issues during surgeries. As the population ages and chronic diseases become more prevalent, the need for efficient hemostatic agents will increase.
Global Hemostatic Agents Market: Segmentation
Product Type
- Active Agents
- Passive Agents
- Combination
Specialty/Therapeutic Area
- Cardiology
- Cath Lab
- Trauma
- General Surgery
- ObGyn
- Transplant
- Oncology
- Neurology
- Orthopedic
- Plastic Surgery
- Dental
- Others (Urological Surgeries, Pulmonary Surgeries)
Distribution Channel
- Large Hospital (500+ Beds)
- Medium Hospital (250-499 Beds)
- Small Hospitals (Less than 250 Beds)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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