Market Size of Hemostasis Products Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 5.20 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Hemostasis Products Market Analysis
The Hemostasis products market is expected to witness a CAGR of 5.2% during the forecast period (2022-2027).
The impact of the COVID-19 pandemic on the hemostasis product market was considerable. According to the study titled "Pandemic care: The need for hemostasis testing in critically ill COVID-19 patients" published in the Journal of hematology in May 2020, Patients treated in hospitals for COVID-19 tend to have an inflammatory response and, as a result, hypercoagulability, which is a broad term for the risk of developing pathological blood clots, also known as thrombosis or venous thromboembolism (VTE). Additionally, as per a November 2021 published article titled "Meta-analysis of coagulation parameters associated with disease severity and poor prognosis of COVID-19", hemostasis could be considered a risk factor for disease severity and mortality of COVID-19. Thus, such instances are likely to have a positive impact on the market's growth.
Furthermore, factors driving market growth include an increase in the number of trauma and surgical cases, technological advancements in the fields of hemostasis products, and an increase in the prevalence of blood disorders.
An increase in the number of trauma and surgical procedures is one of the key drivers boosting the hemostasis product market's growth. As recognized by the World Health Organization and several other international agencies, surgical care is inevitable to manage several health conditions, which include cardiovascular diseases, injuries, cancer, obstructed labor, birth defects, and other conditions. For instance, according to the study titled "Trauma of major surgery: A global problem that is not going away," published in the International Journal of Surgery in September 2020, each year, 310 million major surgeries are performed worldwide, with 40 to 50 million in the United States and 20 million in Europe. According to estimates, 15% experience serious postoperative morbidity, and 5-15% are readmitted within 30 days. Thus, an increasing number of surgeries performed across the globe is anticipated to boost the demand for hemostasis products, as these products play a vital role in wound healing. Similarly, the United States, Canada, Germany, France, and Italy have been reported to have a significant density of surgical volume. Hence, all these factors are expected to drive market growth across the globe.
Additionally, the increasing prevalence of chronic blood disorders is also driving the market's growth. For instance, as per the Annual Global Survey 2020 by the World Hemophilia Federation, a total number of 347,026 people were affected by bleeding disorders in 2020. Additionally, as per the 2022 update by the International Society on Thrombosis and Haemostasis, every year, there are approximately 10 million cases of venous thromboembolism worldwide. As per the same source, in Europe, there are 544,000 Deep Vein Thrombosis (VTE) related deaths every year. Thus, such an increase in the number of patients suffering from blood disorders is likely to impel the demand for hemostasis products.
Furthermore, rising technological advances in the product to enhance patient outcomes during the surgical process are expected to have a positive impact on the market's growth. For instance, according to the study titled "Avitene Microfibrillar Collagen Hemostat (MCH) for Adjunctive Hemostasis in Surgical Procedures: A Systematic Literature Review," published in the Journal of Medical Devices in July 2021, in a wide range of surgical specialties, including hepatic, orthopedic, splenic, oral, and otolaryngologic surgery, MCH has been shown to produce rapid hemostasis with favorable patient outcomes and few reported complications. Anecdotal evidence suggests that MCH is effective in cardiovascular surgery. Thus, advancements in hemostasis products are expected to bolster the market over the forecast period.
Thus, all the aforementioned factors are expected to drive the market over the forecast period. However, stringent regulatory policies and the use of off-label products are projected to restrain the market's growth over the forecast period.
Hemostasis Products Industry Segmentation
As per the scope of the report, hemostasis is a process that prevents and stops bleeding, meaning keeping blood within a damaged blood vessel (the opposite of hemostasis is hemorrhage). It is the first stage of wound healing. This involves coagulation, blood changing from a liquid to a gel. Hemostasis products are those which improve the hemostasis procedure outcomes and enhance overall patient care. The Hemostasis Products Market is Segmented by Product (Topical Hemostasis Product [Collagen, Oxidized Regenerated Cellulose, Gelatin, Polysaccharides, etc.], Infusible Hemostasis Product [Fresh Frozen Plasma, Platelet Concentrate from Donor Blood, Factor VIII, Prothrombin Complex, etc.], Advanced Hemostasis Product [Flowable Complex, Thrombin Complex, Fibrin Complex, Synthetic Sealants, etc.], Application (Trauma, Surgery, Hemophilia, Myocardial Infarction, Thrombosis, Others), End User (Hospitals, Clinics, Others), and Geography (North America, Europe, Asia-Pacific, Middle East, and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (USD million) for the above segments.
By Product | |
Topical Hemostasis Product (Collagen, Oxidized Regenerated Cellulose, Gelatin, Polysaccharides etc.) | |
Infusible Hemostasis Product (Fresh Frozen Plasma, Platelet Concentrate from Donor Blood, Factor VIII, Prothrombin Complex etc.) | |
Advanced Hemostasis Product (Flowable Complex, Thrombin Complex, Fibrin Complex, Synthetic Sealants etc.) |
By Application | |
Trauma | |
Surgery | |
Hemophilia | |
Myocardial Infarction | |
Thrombosis | |
Others |
By End User | |
Hospitals | |
Clinics | |
Others |
Geography | ||||||||
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Hemostasis Products Market Size Summary
The hemostasis products market is poised for significant growth, driven by an increasing number of trauma and surgical cases, technological advancements, and a rising prevalence of blood disorders. The market's expansion is further bolstered by the impact of the COVID-19 pandemic, which highlighted the importance of hemostasis testing due to the hypercoagulability observed in critically ill patients. This has led to a heightened demand for hemostasis products, as they play a crucial role in managing blood clotting and preventing complications during surgical procedures. The market is characterized by the presence of major players such as Abbott Laboratories, Baxter International, Inc., and Medtronic plc, who are actively involved in developing innovative products to enhance patient outcomes.
In addition to the demand generated by surgical procedures, the market is also experiencing growth due to the increasing prevalence of chronic blood disorders and cardiovascular diseases, particularly in regions like North America. The presence of well-established healthcare infrastructure and leading pharmaceutical companies in these regions further supports market expansion. Technological advancements in hemostasis products, such as the development of high-performance hemostatic gels and absorbable hemostats, are expected to drive market growth over the forecast period. However, the market faces challenges from stringent regulatory policies and the use of off-label products, which may restrain its growth. Overall, the hemostasis products market is anticipated to grow steadily, supported by ongoing innovations and strategic activities such as mergers and acquisitions.
Hemostasis Products Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Number Of Trauma And Surgical Cases
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1.2.2 Technological Advancements
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Policies and Increasing Use of Off-Label Products
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Topical Hemostasis Product (Collagen, Oxidized Regenerated Cellulose, Gelatin, Polysaccharides etc.)
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2.1.2 Infusible Hemostasis Product (Fresh Frozen Plasma, Platelet Concentrate from Donor Blood, Factor VIII, Prothrombin Complex etc.)
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2.1.3 Advanced Hemostasis Product (Flowable Complex, Thrombin Complex, Fibrin Complex, Synthetic Sealants etc.)
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2.2 By Application
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2.2.1 Trauma
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2.2.2 Surgery
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2.2.3 Hemophilia
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2.2.4 Myocardial Infarction
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2.2.5 Thrombosis
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2.2.6 Others
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2.3 By End User
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2.3.1 Hospitals
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2.3.2 Clinics
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2.3.3 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Hemostasis Products Market Size FAQs
What is the current Hemostasis Products Market size?
The Hemostasis Products Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Hemostasis Products Market?
Abbott Laboratories, Baxter International, Inc., Medtronic plc, CSL Behring LLC and C. R. Bard, Inc. (BD) are the major companies operating in the Hemostasis Products Market.