The global market for hemostasis products presently features the rising introduction of innovative and technologically advanced products, increased patent expiries and the resulting surge in biosimilars and cheaper alternatives, and increased demand across developing economies. Factors such as the vast rise in trauma and surgery cases and the increased investment in research and development activities will help in the favorable development of the market in years to come.
Transparency Market Research states that the global hemostasis products market will expand at a healthy 4.2% CAGR over the period between 2016 and 2024. Growing at this pace, the market, which had a valuation of US$5.35 bn in 2015, is expected to rise to US$7.73 bn in 2024.
Infusible Hemostats Presently Lead but Advanced Hemostats to Witness Promising Growth
Infusible hemostats are among the most common and widely used hemostatic products for a number of bleeding management practices performed on patients suffering from blood clotting disorders such as hemophilia, Von Willebrand disease (vWD), and dysfibrinogenemia. The segment thus held the largest share of over 47% in the global hemostasis products market in 2015. However, the segment is expected to lose its attractiveness and a vast share of its present share in the global market to the segment of advanced hemostats over the period between 2016 and 2024. Over this period, the market for advanced hemostats is expected to rise at a 6.9% CAGR, while segment of infusible hemostats will exhibit a meagre 07% CAGR.
Hemostasis Products Used for Treatment of Hemophilia to Remain Key Contributor to Market’s Growth
Of the key application areas for hemostasis products, including trauma, surgery, hemophilia, myocardial infraction, stroke, and thrombosis, the use of hemostasis products for the treatment of hemophilia was the leading contributor to the global market’s overall revenues in 2015. The segment held an opportunity of US$5.35 bn in 2015 and is expected to witness growth at a substantial pace over the forecasting horizon as well. However, the applications of hemostasis products for the management of trauma cases will be the most promising application segment for the global hemostasis products over the period between 2016 and 2024. Over this period, the segment will expand at a 6% CAGR as compared to the comparatively moderate 4% CAGR that the hemophilia application segment is expected to exhibit.
Vast Untapped Opportunities to Stimulate Demand for Hemostasis Products in Asia Pacific
North America is presently the largest market for hemostasis products, accounting for a 36.1% share in the global market’s revenues in 2015. The region is expected to witness expansion at a substantial pace over the next few years as well. High level of receptiveness to technological advancements, strong economies, and a swarming pool of patients with a variety of blood disorders are the chief factors that will keep North America at the forefront of the global hemostasis products market in the near future.
The rising numbers of trauma cases and complex surgeries, rising geriatric population and high investment is research and development are also driving the hemostasis products market in North America. The market for hemostasis products in Europe, which is the second largest contributor to the global hemostasis products market’s revenues, is also chiefly driven by the abovementioned factors.
Over the period between 2016 and 2024, the market for hemostasis products in Asia Pacific is expected to yield the most promising results for the global hemostasis products market. The vast and continuously rising set of under-served population suffering from bleeding disorders such as hemophilia, especially across developing economies such as India, is expected to boost the adoption of hemostasis products in Asia Pacific. It is estimated that India has the largest number of hemophilia patients in the world, 60-70% of which were undiagnosed in 2015. TMR analysts state that the hemostasis products market in Asia Pacific will expand at a strong CAGR of 5.2% across the key regional markets from 2016 through 2024.
Some of the key vendors operating in the global hemostasis products market are Integra LifeSciences Corporation, C. R. Bard, Inc., Abbott Laboratories, Baxter International, Inc., CSL Behring LLC, HemCon Medical Technologies, Inc., Grifols, S.A., Johnson & Johnson, Medtronic plc, and Pfizer, Inc.
This report on the global hemostasis products market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments.
The research is a combination of primary and secondary research. Primary research formed the bulk of our research efforts along with information collected from telephonic interviews and interactions via e-mails. Secondary research involved study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2014 to 2024, considering the macro and micro environmental factors. Growth rates for each segment within the global hemostasis products market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
A detailed qualitative analysis of factors responsible for driving and restraining market growth and future opportunities has been provided in the market overview section. This section of the report also includes market attractiveness analysis that provides a thorough analysis of the overall competitive scenario in the global hemostasis products market.
Market revenue in terms of US$ Mn for the period between 2014 and 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all the segments, considering 2015 as the base year. Market size estimations involved in-depth study of services and product features of different types of services. Additionally, market related factors such as increasing preference for technologically advanced services, product innovation, and growing number of acute and chronic patients in various geographies and historical year-on-year growth have been taken into consideration while estimating the market size.
Based on product type, the global hemostasis products market has been segmented into topical hemostasis products (collagen, oxidized regenerated cellulose, gelatin, and polysacchride), infusible hemostasis products (platelet concentrates from donor blood, FVIII derived from blood, fresh frozen plasma, and prothrombin complex), and advanced hemostasis products (flowable, thrombin, fibrin, and synthetic sealants). The market has been further studied from the point of view of major applications of hemostasis products.
Based on application, the market has been categorized into trauma, surgery, hemophilia, myocardial infarction, stroke, and thrombosis. Based on end-user, the market has been segmented into hospitals and clinics.
Geographically, the global hemostasis products market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Rest of the World. In addition, the regions have been further segmented by major countries from each region. These include the U.S, Canada, the U.K., Germany, Japan, China, Brazil, and Mexico. The report also profiles major players in the hemostasis products market based on various attributes such as company overview, financial overview, key business strategies, product portfolio, and recent developments. Key companies profiled in the report include Abbott Laboratories, Baxter International, Inc., C. R. Bard, Inc., CSL Behring LLC, Grifols, S.A., HemCon Medical Technologies, Inc., Integra LifeSciences Corporation, Johnson & Johnson, Medtronic plc, and Pfizer, Inc.
For this study, the global hemostasis products market has been segmented as follows:
Hemostasis Products Market, by Product type
- Topical Hemostasis
- Oxidized Regenerated Cellulose
- Infusible Hemostasis
- Platelet Concentrates from Donor Blood
- FVIII Derived from Blood
- Fresh Frozen Plasma
- Prothrombin Complex
- Advanced Hemostasis
- Synthetic Sealants
Hemostasis Products Market, by Application
- Myocardial Infarction
Hemostasis Products Market, by End-user
Hemostasis Products Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Rest of the World