The Hemostat Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, production and consumption, supply chain analysis, competitive landscape, and market composition analysis.
The global hemostat market is driven by the rising prevalence of lifestyle disorders, increasing number of surgeries, and technological advancement focused on new product development across the world. The manufacturers are continuously engaged in research and development of new and improved hemostat products. With increasing number of orthopedic, cardiovascular and neurological surgeries across the globe, the demand for wound closure products and devices has ramped up around the globe. Increasing demand from Asian countries fuelled by the growth in medical tourism in China, India, and Japan has amplified the magnitude of growth of hemostat market in Asia Pacific. North America contributed the largest revenue share to the market owing to high prevalence of chronic and lifestyle disorders.
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Growing demand for thrombin-based hemostat to drive market demand
The global hemostat market is segmented based on product type, formulation, application, end user, and geography. Based on product type, the global hemostat market is segmented into mechanical hemostat, thrombin-based hemostat, oxidized regenerated cellulose-based hemostat, combination hemostat, gelatin-based hemostat, collagen-based hemostat, and others. In 2019, the thrombin-based hemostat contributed the largest share to the global hemostat market owing to the functional advantages offered by thrombin-based hemostat in wide range of surgical applications. Additionally, rising demand from tissue reconstruction, vascular procedure, and retracting view surgeries is fuelling the demand for thrombin-based hemostat.
Prevalence of lifestyle and chronic disorders to bolster demand from and orthopedic and cardiovascular surgeries
Based on applications, the global hemostat market is segmented into orthopaedic surgery, general surgery, neurological surgery, cardiovascular surgery, reconstructive surgery, gynaecological surgery, and other surgeries. The orthopaedic surgeries contributed the largest share to the global hemostat market owing to rising demand from sport medicine, expanding geriatric population and prevalence of lifestyle disorders across the globe. The increasing number of cardiovascular patients across the globe, is anticipated to offer lucrative opportunities for hemostat during the forecast period.
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Based on geography, the global hemostat market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America contributed the largest share to the global hemostat market owing to the presence of major equipment manufacturers across the region along with strong demand. The increasing number of patients with lifestyle disorders, chronic non communicable diseases, and occupational disorders are the major attributes for the high demand in North America. Europe contributed significantly to the market owing to the presence of global manufacturers of hemostat across the region. Additionally, expanding geriatric population across the region has increased the number of surgeries, which is driving the demand for hemostat. Asia Pacific is anticipated to offer lucrative opportunities to the manufacturers and suppliers owing to prominent growth in medical tourism in China, India, Japan, and Southeast Asian countries. Hemostat market in Middle East & Africa is anticipated to gain traction owing to increasing investment in development of healthcare infrastructure and growth of medical tourism in Middle East.