Absorbable Hemostats Market Size, Share, Growth, and Industry Growth, By Type (Cellulose, Gelatin, Fibrin, and Others), By Application (Surgical Wound Care and General Wound Care), Regional Forecast To 2031

Updated On: 08 April 2024

Absorbable Hemostats Market REPORT OVERVIEW

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The global absorbable hemostats market size was USD 23240 million in 2022 and is projected to touch USD 36965.45 million by 2031, at a CAGR of 5.3% during the forecast period.

Absorbable hemostats, also known as oxidized regenerated cellulose, are used in surgical procedures for assisting in control of capillary, small arterial hemorrhage, and venous. They are one of the most commonly used instruments used in surgical sets. They are one of the efficient tools used for exploring, exposing, and visualizing the deep areas of surgical sites. It is the body’s natural reaction to any injury that stops the bleeding and repairs the damage. They have the capability to conserve blood and prevent infections. They are temporarily used to line the cavity of large wounds that are open.

Use of absorbable hemostats is growing due to increase in surgical procedures; general surgeries, cardiovascular surgeries, neurosurgeries, and gynecology. Growing cases of traumas and reduction in the number of blood supply in various countries is anticipated to drive the market expansion. Technological advancements in the hemostats to produce rewarding opportunities for the market. Rise in the number of surgical centers and hospitals globally is projected to increase the market share for the product. Increasing number of sports-related injuries and focus on blood loss management in patients are projected to drive the demand for medical products in the forecast period.

COVID-19 Impact: Reduction in Surgical Procedures to Hamper Market Growth

The effects of the COVID-19 pandemic are already being felt on a global level, the absorbable hemostats market was considerably influenced. The outbreak of COVID-19 had a negative impact on several markets. Various countries went into lockdown. With sudden pandemic, all kinds of businesses observed disruptions. During the pandemic established biopharmaceutical and pharmaceutical companies took the initiative to develop vaccines and treatments. The pandemic impacted the availability of resources at the hospitals worldwide. Number of surgical procedures were reduced worldwide which lessened the demand for hemostats as countries were affected worldwide.

Recovery of the market demand is characterized by the resuming of the surgical procedures and resume in the demand for medical products and equipment.     

LATEST TRENDS

"Technological Advancements to Impel Market Development "

The global absorbable hemostats market growth is anticipated to have experience expansion due to technological advancements. Uncontrolled bleeding can cause risks and disturbance in hospital settings. To address such situations, market players have been focusing on development of hemostatic agents that can control the bleeding rapidly. They have been focusing on making such hemostats that possess antibacterial properties that can be used for assistance to control bleeding at the time of surgical procedures. They have also been used to control residual problematic bleeding in any case. Manufacturers have been developing such hemostats that are designed to control bleeding more effectively, help fight infections, and antibacterial capabilities to improve wound treatment. Such introduction of technological advancements is estimated to pose prospects for market growth during the forecast period.

Absorbable Hemostats Market SEGMENTATION

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• By Type

Based on type; the market is divided into cellulose, fibrin, gelatin, and others.

• By Application

Based on application; the market is divided into surgical wound care and general wound care.

Surgical wound care is expected to be the leading part of the application segment.  

DRIVING FACTORS

"Product Demand to Surge Owing to Increasing Number of Surgical Procedures"

Increasing number of surgical procedures is predicted to drive product demand. Increase in the number of various surgeries such as general surgeries, cardiovascular surgeries, neurosurgeries, and gynecology. Adhesion creation is one of the main complications after the surgical procedures which requires immediate assistance. This can cause healthcare problems such as abdominal pain after gynecological surgeries and physical impairment after neurological surgeries. Taking into account the severe effects of adhesion formation after post-surgeries is expected to drive demand for the product. Increasing number of surgical procedures are anticipated to provide lucrative opportunities for the absorbable hemostats market.

"Growth in the Number of Surgical Centers to Boost Demand for Product"

Increase in the number of surgical centers and hospitals in developed and developing countries is expected to propel market growth over the forecast period. Demand for surgical equipment has been high in new established hospitals and surgical centers. Various countries have a large population base which is increasing the number of hospitals and surgical centers. Increasing number of hospitals and surgical centers is anticipated to drive the market growth as they are one of the end-users of the product. Rising focus on R&D activities for the product in surgical centers and hospitals is anticipated to increase the market share.  

RESTRAINING FACTORS

"Lack of Skilled Personnel to Obstruct Market Growth"

There are a number of factors that can induce the growth of the absorbable hemostats market. Lack of presence of skilled professionals to handle hemostats for proper disclosure of the wound is expected to hinder market growth. In addition, side effects and allergy reactions caused by the usage of the product can also act as a restraint. Lack of skilled surgeons in developing and developed countries is expected to restrict and limit the market growth.   

Absorbable Hemostats Market REGIONAL INSIGHTS

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"North America to Govern the Market Share Due to Rise in Number of Surgical Procedures"

North America holds the largest part in the global absorbable hemostats market share due to the rising number of surgical procedures in the region. Expansion of technologically advanced products and growth in health infrastructure in the region is expected to produce rewarding opportunities in the market. Increase in the number of trauma related procedures in the region is anticipated to drive product expansion. Growing gambling activities due to presence of casinos and hotels is predicted to facilitate market progress. Advancement in the heath infrastructure is expected to have surgically advanced procedures is estimated to drive market growth in the region. Presence of majority of market manufacturers is expected to drive the product demand.

KEY INDUSTRY PLAYERS

"Market Players to Boost Market Growth"

The report delivers information about the list of market players and their operations in the industry. The information is collected and reported with proper research, technological developments, acquisitions, mergers, expanding production lines, and partnerships. Other aspects examined for this market include companies producing and introducing new products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• BD (U.S.)
• J&J (U.S.)
• Ferrosan Medical Devices (Denmark)
• Gelita Medical (Germany)
• Pfizer (U.S.)
• Celox (U.S.)
• Biocer (Germany)
• Equimedical (Netherlands)

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.