The global hemostats market is growing at a CAGR of 6.1% during and it is expected to reach USD 3.7 billion by 2027 from USD 2.8 billion in 2022, during the forecast period. The expansion of this market is majorly due to increasing geriatric population and simultaneously rising demand for surgeries. 

The hemostats market is witnessing a significant rise in the launch of new and advanced products globally. Vendors across the globe are relying on organic growth strategies to efficiently address end-user requirements and demands.

As a result, a significant share of their capital investments is being diverted to R&D. This is an important trend in this market as new products with high efficacy and success rates gain rapid adoption among end users. As a result, product launches and innovations in products have become key strategies to gain a competitive edge in this market. 

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The top players in this market are large and well-established who enjoy a high degree of brand loyalty.

New entrants in this market must compete with existing players and differentiate themselves with innovative product offerings. The high degree of consolidation acts as a major entry barrier for new entrants and is expected to restrict investments and the growth potential of this market.

The requirement for high-capital investments and the high cost of R&D and manufacturing is also discouraging new entrants from entering this market.

Currently, the lack of skilled surgeons, both in developed and developing economies, is one of the major factors limiting the adoption of these products. For instance, the Association of American Medical Colleges (AAMC) projects a shortage of about 122,000 physicians by 2032 in the US. Of these, a shortage of 12,000 medical specialists and 23,400 surgeons and 39,100 other specialists such as neurologists and radiologists is expected to occur by 2032.