Hemostats Market Analysis, Key Players, Segments and Forecast to - 2027
The global hemostats market size was valued at USD 3.72 billion in 2019 and is projected to reach USD 5.54 billion by 2027, exhibiting a CAGR of 6.3% during the forecast period. The modern healthcare scenario is witnessing a trend of increasing incidence of several types of chronic diseases such as cardiovascular disease, cancer, and occurrences of trauma and accidents. This has led to a substantial surge in the number of surgical procedures and medical specialities for the treatment and management of several diseases across the globe. A surgical procedure is a complex endeavour and may lead to the development of several complications such as bleeding. This proves to be effective in controlling such bleeding in the surgical theatre. Additionally, recently launched products such as Floseal aids in controlling bleeding complications within a minimal amount of time.
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Key Industry Developments in the Hemostats Market include:
December 2018 – An additional curved applicator was launched by Baxter International Inc. for a hemostatic agent called Floseal. This agent applies to ENT surgical procedures and is likely to help expand the sale worldwide.
June 2019 – The food and Drug Administration approved the device technology called VISTASEAL manufactured by Ethicon. This product is a next-generation device technology used for addressing moderate bleeding during surgeries.
What does the Report Include?
The market report includes a detailed assessment of the various market drivers and restraints, opportunities, and challenges that the market will face during the projected horizon. Furthermore, the report provides comprehensive research into the regional developments of the market, affecting the market growth during the forecast period. Moreover, the report includes information sourced from the advice of expert professionals from the industry by our research analyst using several research methodologies for the market. The competitive landscape offers further detailed insights into the strategies such as product launches, partnerships, mergers and acquisitions, and collaborations adopted by the companies to maintain a market stronghold between 2019 and 2026.
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