(PharmaNewsWire.Com, August 05, 2020 ) Growth in this market is driven by the increasing number of surgical procedures, growing number of regulatory approvals, increasing incidence of sports-related injuries and spinal ailments, and rising focus on effective blood loss management in patients during surgeries. In addition, the emerging markets and growth in the number of hospitals and surgical centers are expected to offer further growth opportunities for players operating in the hemostats market during the forecast period.
According to the report – “[140 Pages Report] The hemostats market is expected to reach USD 3.03 billion by 2023 from USD 2.14 billion in 2017 at a CAGR of 6.0%.”
Hemostats Market by Product (Thrombin, Oxidised Regenerated Cellulose, Combination, Gelatin, Collagen), Application (Gynecology, Neurology, Cardiovascular, Reconstructive), Formulation (Powder, Matrix & Gel, Sheets & Pads) - Global Forecast to 2023
To define, describe, and forecast the hemostats market by product, application, formulation, and region To forecast the revenue of the market segments with respect to four main regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa To identify micromarkets and the drivers, opportunities, and trends affecting the growth of the market To strategically analyze market segments and subsegments with respect to individual growth trends, prospects, and contributions to the overall market To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players To profile key players and comprehensively analyze their market shares and core competencies in terms of market developments and growth strategies To track and analyze competitive developments such as collaborations, acquisitions, product launches, expansions, and R&D activities in the hemostats market
Based on applications, the hemostats market is segmented into neurological surgery, cardiovascular surgery, general surgery, orthopedic surgery, thoracic surgery, gynecological surgery, urological surgery, and reconstructive surgery. The orthopedic surgery segment is expected to account for the largest share of the hemostats market in 2018. The growing geriatric population, increasing incidence of sports injuries, and the growing prevalence of lifestyle disorders (such as arthritis, osteoporosis, and obesity) are some of the major factors responsible for the growth in the number of orthopedic surgeries performed globally. The growing number of orthopedic surgeries is in turn expected to support the growth of dependent markets, such as the hemostats market for orthopedic applications.
In 2018, North America to command for the largest market share
On the basis of region, the hemostats market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America is expected to account for the largest share of the global hemostats market. The hemostats market in North America is well-established, with the US being a major market in this region. Growth in the North American market is majorly driven by the growing geriatric population and increasing number of surgeries in the region.
The major players in the hemostats market include CR Bard, Inc. (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), Integra LifeSciences (US), Marine Polymer Technologies, Inc. (US), Teleflex (US), Ethicon, Inc. (US), Pfizer, Inc. (US), Z-Medica LLC (US), and Gelita Medical GmbH (Germany).
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