Hemostatic Agents Market Increasing Growth, CAGR at 6.4%, Requirements, Geographical Overview Forecast till 2025
Hemostatic Agents Market Size, Share and Global Trend By Product Type (Active Hemostats, Passive Hemostats, Combination Hemostats), Application (Trauma, Cardiovascular Surgery, General Surgery, Plastic Surgery, Orthopedic Surgery & Neurosurgery), End User (Hospitals, Ambulatory Surgical Centers, Tactical Combat Casualty Care Centers) and Geography Forecast till 2025
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The Hemostatic Agents Market in the Asia Pacific is expected to grow at a relatively higher CAGR. Baxter (the leading organization in the global market), plans to expand its operation in emerging nations such as India and China to enhance its accessibility. This is expected to propel the growth rate of the Asia Pacific hemostatic agents market. Meanwhile, the Europe market is likely to expand at a low CAGR due to the presence of a smaller patient pool compared to the Asia Pacific and North America.
Combination Hemostats to Dominate the Global Market
In terms of product type, the combination hemostats segment accounted for 14% of the global market in 2017. Combination hemostats are proven to be very effective and offer faster healing. Combination hemostats are capable of offering efficient hemostasis in shorter time owing to the rapid action of thrombin and gelatin. Rising adoption of combination hemostats is anticipated to drive the global hemostatic agents market during the forecast period 2018-2025.
Baxter Widening its Distribution Network Across Regions
Baxter emerged dominant in the global hemostatic agents market in 2017. The growth witnessed is attributable to its diversification strategy implemented to improve the accessibility of its brands. The trend is unlikely to change and Baxter may continue to dominate the global market during the forecast period.
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