Global Hemostatic Agents Market

Global Hemostatic Agents Market Size, Share, Growth Analysis, By Product(Active, passive), By Application(Trauma, cardiovascular surgery), By Type(Thrombin Based Hemostats, Gelatin Based Hemostats), By End User(Hospitals, Surgery Centers) - Industry Forecast 2024-2031

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

Global 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

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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).

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. '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 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.

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 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.

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