Absorbable Hemostats Market Overview: Market Size, Major Drivers And Trends
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The absorbable hemostats market size has experienced strong growth in recent years, expected to increase from $22.30 billion in 2023 to $23.59 billion in 2024 at a CAGR of 5.8%. This growth can be linked to advances in surgical techniques, an increasing prevalence of chronic diseases, rising demand for minimally invasive surgeries, improvements in hemostatic materials, and heightened awareness of patient safety. The market is anticipated to reach $29.68 billion in 2028, with a CAGR of 5.9% during the forecast period. The growth drivers include a rising geriatric population, greater emphasis on personalized medicine, increasing healthcare expenditure, expansion of healthcare infrastructure, and a higher incidence of trauma and emergencies. Major trends in this period will encompass the development of multifunctional hemostatic products, the integration of smart technologies for real-time monitoring, the growing use of bioengineered materials, the rise of partnerships and collaborations, and advancements in regulatory standards.
The increasing number of surgical procedures is anticipated to drive the growth of the absorbable hemostats market moving forward. Surgical procedures involve medical operations performed to treat, diagnose, or manage conditions through physical alterations to tissues or organs via incisions or other techniques. The rise in surgical procedures is influenced by the increasing demand for advanced medical treatments, an aging population, and advancements in surgical technology that enable more complex and minimally invasive operations. Absorbable hemostats are crucial in surgical procedures, as they help control bleeding and promote clot formation while gradually being absorbed by the body, reducing the need for additional interventions and minimizing postoperative complications. For example, in March 2023, the British Association of Aesthetic Plastic Surgeons, a UK-based surgical organization, reported that there were 31,057 cosmetic procedures performed in 2022, marking a 102% increase from the previous year. Therefore, the increasing number of surgical procedures is significantly driving the growth of the absorbable hemostats market.
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What Are The Key Trends That Influence Absorbable Hemostats Market Share Analysis?
Major companies in the absorbable hemostats market are dedicated to developing advanced products, such as absorbable hemostatic powder, to ensure rapid and effective bleeding control during surgical procedures. The absorbable hemostatic powder is a medical product designed to manage bleeding by promoting quick clot formation at the injury site, and it is naturally absorbed by the body after serving its purpose. For example, in July 2023, Baxter International Inc., a US-based healthcare company, launched PERCLOT absorbable hemostatic powder. PERCLOT granules possess a unique molecular structure that swiftly absorbs water, forming a gelled adhesive matrix that creates a mechanical barrier to stop bleeding by encouraging the accumulation of platelets, red blood cells, and coagulation proteins like thrombin and fibrinogen. This feature enhances clinicians’ ability to address a wider range of intraoperative bleeding, which is crucial for reducing the need for blood transfusions, minimizing major complications, and ultimately lowering overall care costs.
Which Market Players Are Driving Growth In The Absorbable Hemostats Market?
Major companies operating in the absorbable hemostats market are Johnson & Johnson, Medtronic Plc, Becton, Dickinson and Company, Stryker Corporation, Baxter International Inc., CSL Behring, B. Braun Melsungen AG, Teleflex Incorporated, Samyang Holdings Corporation, Integra LifeSciences, Acelity, Meril Life Sciences Pvt. Ltd., Gelita AG, CryoLife Inc., Anika Therapeutics Inc., Z-Medica LLC, Cohera Medical Inc., Marine Polymer Technologies Inc., Curasan AG, Hemostasis LLC, Arch Therapeutics Inc., Cura Medical, Ferrosan Medical Devices A/S, FzioMed Inc., Guizhou Jin Jiu Biotech Co. Ltd.
How Is The Global Absorbable Hemostats Market Segmented?
The absorbable hemostats market covered in this report is segmented –
1) By Type: Thrombin-Based Hemostats, Oxidized Regenerated Cellulose-Based Hemostats, Gelatin-Based Hemostats, Collagen-Based Hemostats, Other Types
2) By Application: Neurosurgery, Orthopedic Surgery, General Surgery, Reconstructive Surgery, Other Applications
3) By End-User: Hospitals And Clinics, Ambulatory Surgical Centers, Other End-Users
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The Absorbable Hemostats Global Market Report 2024 provides an overview of the absorbable hemostatsmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The absorbable hemostats market forecast analyzes absorbable hemostats market size, absorbable hemostats market share, leading competitor and their market positions.
The Table Of Content For The Absorbable Hemostats Market Include
1. Absorbable Hemostats Market Executive Summary
2. Absorbable Hemostats Market Segments
3. Absorbable Hemostats Market Size And Template Market Growth Rate
4. Key Absorbable Hemostats Market Trends
5. Major Absorbable Hemostats Market Drivers
……
25. Key Mergers And Acquisitions In The Absorbable Hemostats Market
26. Top Absorbable Hemostats Companies
27. Absorbable Hemostats Market Opportunities And Strategies
28. Absorbable Hemostats Market, Conclusions And Recommendations
29. Appendix
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