The Global Hemostatic Agents Market by Product Types, End-users, and Regions — Global Industry Analysis, Growth, Share, Size, Trends and Forecast 2020–2026

The global hemostatic agents market is expected to reach a considerable value by 2026, expanding at a CAGR of around 5.2% during the forecasted period from 2020 to 2026. Hemostatic products contain microfibrillar collagen matrix, oxidized regenerated cellulose, fibrin glue, gelatin matrix, and bovine serum.

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These devices are utilized to stop bleeding during surgeries. It stops bleeding either by coagulation or by abnormal obstruction or by normal vasoconstriction. These agents are used to enhance patient care. The advancement in technology in hemostatic agents has developed a wide range of products that has enabled doctors to provide emergency assistance to patients. According to a report published by the Centers for Disease Control and Prevention, the prevalence rate of hemophilia a bleeding disorder is 1 in every 5000 male births this disease is cured by surgical procedure and hence, require proper equipment for bleeding management. Growth of chronic diseases, injuries, heart diseases, birth defects, and other conditions have fueled the demand for hemostatic agents market. Asia Pacific region is a lucrative market for hemostatic agents due to a growing population of diabetics, and cancer patients. Countries such as Japan, China, and India are investing heavily in the market and providing medical visas to perform cost-effective and painless surgeries. Luxemburg and Switzerland had accounted for the most number of surgeries in the last year accelerating the demand for hemostatic agents. The disposable income has also increased leading to an increase in healthcare expenditure. These are the factors driving the growth of the hemostatic agents market.

Market Trends, Drivers, Restraints, and Opportunities:

Key factors driving the market growth for hemostatic agents are an increase in the number of surgical procedures worldwide. Another factor is the growing population of geriatric patients, their wounds and injuries take a lot of time to heal and hence, require proper care and bleeding management systems, which is taken care by hemostatic agents.
The latest trend in the market is the use of hemostatic agents in cardiovascular activities. The use of hemostats and sealants in heart surgery for effective bleeding management has catalyzed the market growth
One of the limitations that have restrained the growth of hemostatic agents is increased cost of surgical procedures and lack of reimbursements for surgical products.
The growth in surgical procedure for hernia operations, laparoscopy, and hip or knee replacement has opened up many opportunities for hemostatic agents market. It offers less pain and faster recovery compared to other alternatives.