Global Hemostatic Agents Market

Hemostatic Agents Market Size, Share, Growth Analysis, By Product(Active, passive, combination, and other), By Application(Trauma, cardiovascular surgery, general surgery, plastic surgery), By Type(Thrombin Based Hemostats, Gelatin Based Hemostats, Collagen Based Hemostats, Oxidized Regenerated Cellulose Based Hemostats), By End User(Hospitals, Surgery Centers, Nursing Homes, Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35B2068 | Region: Global | Published Date: February, 2024
Pages: 242 |Tables: 127 |Figures: 81

Hemostatic Agents Market Insights

Hemostatic Agents Market size was valued at USD 6.13 billion in 2019 and is poised to grow from USD 7.38 billion in 2023 to USD 14.48 billion by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).

The growing number of patients with bleeding issues needs the adoption of technologically advanced hemostasis medicines. The increasing frequency of chronic diseases in the senior population is pushing increased demand for hemostasis agents. Because of the increase in surgical procedures around the world, there will be a high need for hemostasis agents, which will fuel market expansion. According to the World Health Organization (WHO), over 1.25 million people are injured in road accidents each year, with many deaths resulting in severe bleeding, fueling the market. Furthermore, developments in surgical techniques such as robot assisted surgery, as well as an ageing population, are likely to increase demand in the global Hemostatic Agents Market.

The high cost of surgical treatments, along with unfavorable reimbursement policies, may limit the market growth. Also, a lack of understanding and awareness about the most recent technological breakthroughs in emerging and undeveloped nations may limit the growth of the Hemostatic Agents market.

US Hemostatic Agents Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 6.13 billion

Largest Segment

passive

Fastest Growth

passive

Growth Rate

8.8% CAGR

Global Hemostatic Agents Market ($ Bn)
Country Share for North America Region (%)
Country Share for Europe Region (%)

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Hemostatic Agents Market Segmental Analysis

Global Hemostatic Agents Market is segmented on the basis product, application, type, end user, and region. By product, the market is segmented into active, passive, combination, and other. By application, market is segmented into trauma, cardiovascular surgery, general surgery, plastic surgery, orthopedic surgery, neurosurgery, and others. By Type, the market is segmented into Thrombin Based Hemostats, Gelatin Based Hemostats, Collagen Based Hemostats, Oxidized Regenerated Cellulose Based Hemostats, Combination Hemostats, Fibrin Sealants, Others. By End User, the market is segmented into Hospitals, Surgery Centers, Nursing Homes, Others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Hemostatic Agents Market Analysis by Product

The active segment is further subdivided into thrombin-based sealants and fibrin sealants. The passive section is further subdivided into the plant, animal, and other portions. The presence of a significant variety of product options particularly increased adoption of technologically superior active goods is expected to drive strong CAGRs in the active and passive segments. Due to the introduction of innovative products like Baxter's Floseal, the combination category is predicted to experience the greatest CAGR during the forecast period.

Hemostatic Agents Market Analysis by Application

Because of the growing number of surgical procedures, the general surgery segment is expected to dominate the application segment. The cardiovascular and trauma segment is expected to have the highest CAGR during the forecast period. This is due to the rising prevalence of cardiovascular conditions demanding surgical intervention, as well as an increase in traumatic situations, including accidents, worldwide. During the projection period, the cardiovascular surgery segment is expected to hold a 20.0% market share. The increased prevalence of chronic diseases, increased demand for minimally invasive and aesthetic procedures, and significant improvements in healthcare infrastructure, combined with rising global expenditure, are expected to drive growth in the orthopedic surgery, plastic surgery, and neurosurgery segments.

Global Hemostatic Agents Market By Product, 2023 (%)

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Hemostatic Agents Market Regional Insights

North America dominated the global hemostatic agent market. Some of the elements contributing to the dominance include the use of technologically sophisticated products and rising surgical operation numbers, which result in increased demand for the product.

The second-most dominant region of the market is Europe. This is due to reasons such as high healthcare spending, which is driving demand for technologically improved items due to the high volume of procedures.

Asia Pacific is expected to have the highest CAGR due to a large patient population, an increase in surgical operations, and an increase in product introductions. The other two regions, Latin America and the Middle East and Africa, are expected to have lower market shares and growth rates. This can be attributed to variables such as significant increases in healthcare spending and infrastructure. Also, the hemostatic agent market is expected to benefit from a large prospective patient population as the number of surgical procedures increases during the forecast period

Global Hemostatic Agents Market By Region, 2024-2031

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Hemostatic Agents Market Dynamics

Hemostatic Agents Market Drivers

Growing Number of Surgical Procedures Worldwide to Support Demand

  • The spike in the number of surgical procedures performed globally has provided the impetus to offer a major boost to the rising incidence of bleeding issues during surgeries, which is the most crucial driving force of the global market. In the contemporary scenario, there is a wide range of medical devices available for care, as well as a considerable advance in the attainment of hemostasis in surgical procedures. According to recent estimates provided by the National Center for Biotechnology Information (NCBI), around 60-70% of all transfused red blood cells are used in a surgical context, as bleeding during surgery is one of the most feared problems that might occur during these procedures. This has resulted in a significant demand for the product offerings in the global market, as many surgeons prefer to use these goods in surgical operations with a low risk of bleeding issues.

Increasing Product Technological Developments to Drive Market Growth

  • The increasing number of product launches with technologically enhanced features is another significant driving factor for the market during the forecast period. Some advantages of modern goods include their effectiveness in achieving hemostasis. Furthermore, developments in the product's R&D have resulted in other benefits such as a lower risk of infection and lower prices. This has resulted in the creation and production of technologically upgraded product offerings with a variety of enhanced features. Furthermore, it has resulted in a broadening of the product offers' application regions in terms of the surgical procedures covered. The Baxter product TISSEEL is recognized as one of the most cutting-edge products in the fibrin sealants category. Also, increased product usage is likely to generate considerable growth potential during the forecast period.

Hemostatic Agents Market Restraints

Clinical and Other Limitations Associated with the Product to Hamper Market Growth

  • Certain clinical limitations, such as uncontrolled bleeding, are expected to be one of the market's major restraints, resulting in the limited adoption of these treatments in some circumstances. Despite improved outcomes in the management of bleeding issues during surgical procedures and a greatly reduced risk of infection, considerations such as the product's expensive cost have limited its use. Another impediment is the clinical limits associated with specific types of surgical instruments for specific types of surgical procedures. Despite significant benefits from technological advancements, clinical restrictions severely limit the usage of these products.

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Hemostatic Agents Market Competitive Landscape

Global Hemostatic Agents Market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share.

Hemostatic Agents Market Top Player’s Company Profiles

  • Baxter International Inc.
  • Pfizer Inc.
  • Ethicon, Inc. (a subsidiary of Johnson & Johnson)
  • CSL Behring
  • CryoLife, Inc.
  • Integra LifeSciences Holdings Corporation
  • B. Braun Melsungen AG
  • Z-Medica LLC
  • Marine Polymer Technologies, Inc.
  • Hemostasis, LLC
  • Cohera Medical, Inc.
  • ProFibrix BV
  • Starch Medical Inc.
  • Biom'Up SAS
  • MedTrade Products Ltd.
  • Vascular Solutions, Inc. (a subsidiary of Teleflex Incorporated)
  • Gelita Medical GmbH
  • Equimedical B.V.
  • Anika Therapeutics, Inc.
  • Arch Therapeutics, Inc.

Hemostatic Agents Market Recent Developments

  • In October 2022, Creilson, Inc., a Brooklyn-based biotechnology company, announced the successful execution of a USD 25 million Series A-4 fundraising round led by Paulson Investment Company to speed the introduction of its revolutionary hemostatic gel, VETIGEL, into the human health market following the filing of a 510(k) premarket notification to the US Food and Drug Administration.
  • In July 2021, Baxter International Inc. invested up to USD 60.8 million for certain assets of CryoLife's PerClot Polysaccharide Hemostatic System.
  • In February 2021, EndoClot Plus, Inc. stated that the US Food and Drug Administration had approved the EndoClot Polysaccharide Hemostatic System (FDA). This revolutionary tool assists gastroenterologists in quickly preventing bleeding. This technology marks a huge step forward in the treatment of G.I. patients.
  • In July 2021, Medcura, Inc., a medical device business, and ASO LLC announced the debut of Rapid-Seal, a new class of antibacterial hemostatic gel. This product satisfies the market requirement for a clear gel that may be simply applied to injuries.

Hemostatic Agents Key Market Trends

  • The leading cause of military and civilian mortality is hemorrhage. The uncontrolled hemorrhage causes more than 30% of traumatic deaths in emergency conditions, and excessive bleeding is the leading cause of military casualties. Hemostatic drugs have been shown to be useful in hospitals and to save lives in high-stress situations. This will drive the hemostats market forward. The agents save lives by preventing hypothermia, infections, multiple organ failure, and acidosis. It is a critical stage in trauma treatment.
  • The increasing frequency of cardiovascular disease and chronic disorders such as cancer is driving up the number of surgical procedures. To satisfy the increased demand for surgical procedures, healthcare infrastructure is expanding globally. The hemostats market is driven by the products' widespread use in reducing complex bleeding during procedures to keep patients safe.
  • According to investigations and research, thrombin-based hemostatic drugs used prior to wound closure lowered postoperative blood loss and transfusion rate. There is no danger of infection, deep vein thrombosis, or other problems. It is the main agent utilized in knee arthroplasty procedures. The agent is easily stored at room temperature. Such advantageous qualities will increase demand for the global hemostats market. The use of a porcine gelatin sponge, which allows for direct pressure application, can boost the efficacy of a thrombin hemostat even further.
  • Excessive blood loss and organ failure are risks of invasive medical treatments and operations. The requirement for better blood control management is pushing the usage of polysaccharide hemostatic systems, which is driving the worldwide hemostats market growth. Non-anatomical and sensitive structures are used to stop the blood loss. These systems are especially beneficial to patients who have hemostatic problems, high bone density, or arthritic conditions.

Hemostatic Agents Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global Hemostatic Agents Market analysis, by product, The active component is separated further into thrombin-based sealants and fibrin sealants. The general surgery segment is predicted to dominate the application segment due to the increasing number of surgical procedures. The cardiovascular and trauma segment is predicted to have the highest CAGR during the projection period. The hemostatic agent market is dominated by North America. The use of technologically sophisticated items and expanding surgical procedure numbers, which result in increased demand for the product, are some of the factors contributing to the dominance. Due to a huge patient population, a growth in surgical operations, and an increase in product debuts, Asia Pacific is predicted to have the greatest CAGR. Product technological advancements are becoming more prevalent, driving market expansion. Clinical and other restrictions connected with the product are expected to hamper the market growth.

Report Metric Details
Market size value in 2023 USD 6.13 billion
Market size value in 2031 USD 14.48 billion
Growth Rate 8.8%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Active, passive, combination, and other
  • Application
    • Trauma, cardiovascular surgery, general surgery, plastic surgery, orthopedic surgery, neurosurgery, and others
  • Type
    • Thrombin Based Hemostats, Gelatin Based Hemostats, Collagen Based Hemostats, Oxidized Regenerated Cellulose Based Hemostats, Combination Hemostats, Fibrin Sealants, Others.
  • End User
    • Hospitals, Surgery Centers, Nursing Homes, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Baxter International Inc.
  • Pfizer Inc.
  • Ethicon, Inc. (a subsidiary of Johnson & Johnson)
  • CSL Behring
  • CryoLife, Inc.
  • Integra LifeSciences Holdings Corporation
  • B. Braun Melsungen AG
  • Z-Medica LLC
  • Marine Polymer Technologies, Inc.
  • Hemostasis, LLC
  • Cohera Medical, Inc.
  • ProFibrix BV
  • Starch Medical Inc.
  • Biom'Up SAS
  • MedTrade Products Ltd.
  • Vascular Solutions, Inc. (a subsidiary of Teleflex Incorporated)
  • Gelita Medical GmbH
  • Equimedical B.V.
  • Anika Therapeutics, Inc.
  • Arch Therapeutics, Inc.

Hemostatic Agents Market Recent Developments

  • In October 2022, Creilson, Inc., a Brooklyn-based biotechnology company, announced the successful execution of a USD 25 million Series A-4 fundraising round led by Paulson Investment Company to speed the introduction of its revolutionary hemostatic gel, VETIGEL, into the human health market following the filing of a 510(k) premarket notification to the US Food and Drug Administration.
  • In July 2021, Baxter International Inc. invested up to USD 60.8 million for certain assets of CryoLife's PerClot Polysaccharide Hemostatic System.
  • In February 2021, EndoClot Plus, Inc. stated that the US Food and Drug Administration had approved the EndoClot Polysaccharide Hemostatic System (FDA). This revolutionary tool assists gastroenterologists in quickly preventing bleeding. This technology marks a huge step forward in the treatment of G.I. patients.
  • In July 2021, Medcura, Inc., a medical device business, and ASO LLC announced the debut of Rapid-Seal, a new class of antibacterial hemostatic gel. This product satisfies the market requirement for a clear gel that may be simply applied to injuries.
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Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Hemostatic Agents Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Hemostatic Agents Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Hemostatic Agents Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Hemostatic Agents Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Hemostatic Agents Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Hemostatic Agents Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Hemostatic Agents Market size was valued at USD 6.13 billion in 2019 and is poised to grow from USD 7.38 billion in 2023 to USD 14.48 billion by 2031, growing at a CAGR of 8.8% in the forecast period (2024-2031).

Hemostatic Agents Market is fragmented and highly competitive. Key industry players are focused on product developments, new product launches, and geographical expansions to gain a significant amount of market share. 'Baxter International Inc.', 'Pfizer Inc.', 'Ethicon, Inc. (a subsidiary of Johnson & Johnson)', 'CSL Behring', 'CryoLife, Inc.', 'Integra LifeSciences Holdings Corporation', 'B. Braun Melsungen AG', 'Z-Medica LLC', 'Marine Polymer Technologies, Inc.', 'Hemostasis, LLC', 'Cohera Medical, Inc.', 'ProFibrix BV', 'Starch Medical Inc.', 'Biom'Up SAS', 'MedTrade Products Ltd.', 'Vascular Solutions, Inc. (a subsidiary of Teleflex Incorporated)', 'Gelita Medical GmbH', 'Equimedical B.V.', 'Anika Therapeutics, Inc.', 'Arch Therapeutics, Inc.', 'In October 2022, Creilson, Inc., a Brooklyn-based biotechnology company, announced the successful execution of a USD 25 million Series A-4 fundraising round led by Paulson Investment Company to speed the introduction of its revolutionary hemostatic gel, VETIGEL, into the human health market following the filing of a 510(k) premarket notification to the US Food and Drug Administration.', 'In July 2021, Baxter International Inc. invested up to USD 60.8 million for certain assets of CryoLife's PerClot Polysaccharide Hemostatic System.', 'In February 2021, EndoClot Plus, Inc. stated that the US Food and Drug Administration had approved the EndoClot Polysaccharide Hemostatic System (FDA). This revolutionary tool assists gastroenterologists in quickly preventing bleeding. This technology marks a huge step forward in the treatment of G.I. patients.', 'In July 2021, Medcura, Inc., a medical device business, and ASO LLC announced the debut of Rapid-Seal, a new class of antibacterial hemostatic gel. This product satisfies the market requirement for a clear gel that may be simply applied to injuries.'

The spike in the number of surgical procedures performed globally has provided the impetus to offer a major boost to the rising incidence of bleeding issues during surgeries, which is the most crucial driving force of the market. In the contemporary scenario, there is a wide range of medical devices available for care, as well as a considerable advance in the attainment of hemostasis in surgical procedures. According to recent estimates provided by the National Center for Biotechnology Information (NCBI), around 60-70% of all transfused red blood cells are used in a surgical context, as bleeding during surgery is one of the most feared problems that might occur during these procedures. This has resulted in a significant demand for the product offerings in the market, as many surgeons prefer to use these goods in surgical operations with a low risk of bleeding issues.

The leading cause of military and civilian mortality is hemorrhage. The uncontrolled hemorrhage causes more than 30% of traumatic deaths in emergency conditions, and excessive bleeding is the leading cause of military casualties. Hemostatic drugs have been shown to be useful in hospitals and to save lives in high-stress situations. This will drive the hemostats market forward. The agents save lives by preventing hypothermia, infections, multiple organ failure, and acidosis. It is a critical stage in trauma treatment.

North America dominated the hemostatic agent market. Some of the elements contributing to the dominance include the use of technologically sophisticated products and rising surgical operation numbers, which result in increased demand for the product.

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Global Hemostatic Agents Market

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