Hemostats market in terms of revenue was estimated to be worth $2.8 billion in 2022 and is poised to reach $3.7 billion by 2027, growing at a CAGR of 6.1% from 2022 to 2027 according to a latest report published by MarketsandMarkets™.

Market is driven by factors such as significant increase in the number of cardiac surgical procedures such as angioplasty and aortic valve replacement and significant capital investments for R&D. Side effects and allergic reactions caused by hemostats is anticipated to restraint the hemostats market growth. Increasing adoption of advanced hemostats in emerging markets will propel market growth opportunities.

The current edition of the report includes pricing analysis, value chain analysis, supply chain analysis, ecosystem analysis, trade analysis, technology analysis, regulatory landscape analysis, patent analysis, and Porter's five forces analysis in the market overview chapter. This edition of the report also covers the product and geographical footprint of key players in the competitive landscape chapter.

Growth in this market is driven by the growing volume of surgical procedures performed, the rising focus on R&D, the increasing incidence of sports-related injuries and spinal ailments, and the rising focus on effective blood loss management in patients during surgeries. However, side effects and allergic reactions associated with hemostats are expected to hamper the adoption of these products. 

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Growth Drivers of Hemostats Market from Macro to Micro:

Macro Level:

  • Aging Population: As the population ages, the prevalence of bleeding-related diseases increases, which is a major driver for the hemostat market.
  • Growing Healthcare Expenditure: Governments are increasing their healthcare expenditure for the betterment of the general population, which is driving the demand for hemostats.

Micro Level:

  • Technological Advancements: The advent of advanced technologies is driving the hemostat market. Technologies like ocular hemostats, laparoscopic hemostats, and endoscopic hemostats are becoming increasingly popular.
  • Increasing Number of Surgeries: The growing number of surgeries is driving the demand for hemostats, as these devices are used to control bleeding during surgeries.

The global hemostats market is driven by the increasing adoption of advanced hemostats in emerging markets. Hemostats are used to stop bleeding during surgical and medical procedures, providing a safe and efficient alternative to conventional methods.

The growing demand for minimally invasive surgical procedures has increased the need for hemostats in these markets, leading to increased market opportunities. Moreover, the increasing number of hospitals and healthcare centers in emerging markets has also been a major factor in driving the hemostats market growth. The major companies are investing heavily in the development of advanced hemostats to meet the growing needs of these markets.

The growing demand for hemostats in emerging markets, coupled with the introduction of innovative products, is expected to drive the growth of the global hemostats market over the forecast period.

Top 3 Use Cases of Hemostats Market:

  • Cardiovascular Surgery: Hemostats are used in cardiovascular surgeries to control and stop bleeding. They are applied directly to the exposed surface of the heart, veins, and arteries during open heart surgery.
  • Orthopedic Surgery: Hemostats are used in orthopedic surgeries to stop bleeding and control the flow of blood. They are used to close incisions, to seal wounds and to check for bleeding.
  • Trauma Surgery: Hemostats are used in trauma surgery to control bleeding and to stop the flow of blood. They are used to repair damaged blood vessels and to close deep wounds.

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Some of the major players operating in the hemostats market are C.R. Bard (US), Baxter (US), Teleflex Incorporated (US), Ethicon (a subsidiary of Johnson & Johnson) (US), Medtronic Plc (Ireland), B. Braun Melsungen AG (Germany), Pfizer (US), etc. In 2020, Ethicon (a subsidiary of Johnson & Johnson) (US) held the leading position in the market. The company has a strong geographic presence across the US, Asia, Europe, the Middle East, Africa, and the Americas. Moreover, the company’s strong brand recognition and comprehensive product portfolio in the Hemostats market are its key strengths. Baxter (US) held the second position in the hemostats market in 2020.