Hemostasis and tissue sealing agents market represents advanced hemostat medical devices that are used to control bleeding during surgery. These devices play an important role in facilitating wound healing process during surgical procedures. The market of hemostasis and tissue sealing agents is majorly driven by the introduction of new hemostat products. For instance, in May 2014, Cohera Medical, Inc. introduced Sylys Surgical Sealant that can be used in gastrointestinal surgery to reduce anastomotic leak. In the same year i.e., January 2014, Baxter also received the U.S. FDA approval for TISSEEL fibrin sealant, indicated for the usage in almost all types of surgical procedures. Thus, continuous introduction and adoption of innovative technology based products is driving the market growth. In addition, rising number of cardiovascular, vascular, gastrointestinal and pulmonary surgeries have also increased the uptake of hemostat products. Factors such as rising use of hemostasis and tissue sealing agents in minimally invasive procedures and aging population that is more prone to chronic diseases will augment the growth of hemostasis and tissue sealing agents during the forecast period. However, high cost and growing use of off label hemostat products is anticipated to hamper the growth of hemostasis and tissue sealing agents market.
Hemostasis and tissue sealing agents market is segmented into types of products namely topical hemostats and adhesive and tissue sealing agents. Presently, topical hemostats segment is anticipated as the largest market share holder and is estimated to grow at a CAGR of over 6% during the forecast period from 2014 to 2020. The growth is mainly attributed to the expanding use of topical hemostats (such as mechanical and active hemostats) for wide range of surgical procedures (e.g. vascular, cardiovascular and others). Mechanical hemostat, active hemostat and flowable hemostat are the major subtypes of topical hemostat. Rising preference of surgeons for active hemostat products owing to its high efficacy to control bleeding process is supporting active hemostat market to grow at the highest CAGR. For instance, in July 2010, the Journal of Blood Medicine published an article which stated that active hemostat (thrombin) is proven to be a useful and effective ancillary for surgical hemostasis.
Adhesive and tissue sealing segment accounted for around 40% share of the total hemostasis and tissue sealing agents market in 2013. This segment is further categorized as natural tissue sealant, synthetic tissue sealant and adhesion barrier products. Among these, natural tissue sealant accounted for the largest market share owing to commercial availability of large number of natural tissue sealants, such as (Floseal, Tisseel, TachoSil and others) in the market.
Hemostasis and tissue sealing agents market by geography is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). In 2013, North America accounted for the largest share, i.e. around 36% in the total hemostasis and tissue sealing agents market. Increasing number of inpatient surgical procedures coupled with rising use of hemostat products by end-users (surgeons and physicians) is propelling the market growth in North America. Europe accounted for the second largest share in 2013 due to steady rise in geriatric population which would accentuate the demand of hemostasis and tissue sealing agents. Asia-Pacific is expected to witness fastest growth during the study period owing to liberal regulatory environment and increasing investment by key companies such as CryoLife, Inc., Pfizer, Inc. and others in this region.
Some of the prominent players in the hemostasis and tissue sealing agents market are CryoLife, Inc., Johnson and Johnson, Advance Medical Solution Group plc, Baxter, Pfizer, Inc., Integra LifeSciences Corporation and others.
The hemostasis and tissue sealing agents market involves the study of wide range of hemostat, tissue sealant and adhesion barrier products which helps the surgeons to control bleeding during the surgery. These products play an important role in management of bleeding within the damaged blood vessels in surgical procedures. The market of hemostasis and tissue sealing agents is witnessing positive growth due to the introduction of technology advanced and cost effective hemostat and tissue sealing products by key companies. For example, in June 2013, Advance Medical Solution Group plc received approval for 2-octyl cyanoacrylate synthetic tissue adhesive.
The company also offers wide range of hemostasis and tissue sealant products such as RESORBA, ActivHeal and LiquiBand. Thus, wide range of product offering will boost the uptake of these products hence drive the market growth. Other factors such as aging population and rising number surgical procedures further drive the growth of the hemostasis and tissue sealing agents market globally. For example, according to the World Health Organization (WHO), the number of people aged 65 years and above is expected to increase from 605 million to 2 billion by 2050. Aging population will boost the number of people undergoing surgical intervention which would in turn stimulate the demand of hemostat and tissue sealing agents. In addition, hemostat and tissue sealant products are still at a nascent stage in developing regions such as India and Latin America and expected to witness high growth rate in near future owing to the approval of new hemostat products by regulatory authorities. All these factors collectively fuel the revenues of hemostasis and tissue sealing agents market during the study period, hence boost market growth. However, strict regulatory policies coupled with high cost of the products will restrain the market growth worldwide.
This report encompasses a detailed study of various hemostat and tissue sealing agents. Hemostasis and tissue sealing agents market have been majorly segmented into types of products. This segment is categorized into two major type namely topical hemostats and adhesive and tissue sealant products. Topical hemostat products are further categorized into mechanical hemostat, active hemostat (i.e. thrombin based topical hemostat) and flowable hemostat (i.e. combinational topical hemostat). Hemostat products such as collagen, oxidized regenerated cellulose (ORC), gelatin and polysaccharide based topical hemostat are included under mechanical hemostat.
Adhesive and tissue sealant are classified into natural tissue sealant, synthetic tissue sealant and adhesion barrier products. Natural tissue sealant comprises fibrin sealant and others (albumin and collagen based tissue sealant). Synthetic sealant includes cyanoacrylate based tissue sealant and others (polyethylene glycol and others). The market size and forecast for each type of products has been provided for the period 2012 to 2020, considering 2013 as the base year. The report also provides the compounded annual growth rate (% CAGR) for the forecast period 2014 to 2020 for each segment.
Geographically, the global hemostasis and tissue sealing agents market has been segmented into four major regions namely North America, Europe, Asia Pacific and Rest of the World (RoW). The market size and forecast for each geography has been estimated for the period 2012 to 2020 in terms of revenue (USD million), considering 2013 as the base year. The report also provides the compounded annual growth rate (CAGR %) during the forecast period from 2014 to 2020 for all the geographies mentioned above.
The market overview section of the report discusses the market dynamics with respect to the market drivers, restraints and opportunities. This section also covers market attractiveness analysis and event impact analysis of the global hemostasis and tissue sealing agents market. Market share (%) of major players operating in the market has also been provided for the year 2013, followed by a list of recommendations for existing and new players to enter and enhance market share. The report concludes with company profiles of key players operating in various segments of the market. Each company profile includes business overview, financial overview, product portfolio, business strategies and recent developments of the respective company. Some of the prominent players in the global hemostasis and tissue sealing agents market that have been profiled in the report include Johnson & Johnson Services, Inc., CryoLife, Inc., Baxter, Cohesion Technologies, C.R. Bard, Inc., Advance Medical Solution Group plc, Integra LifeScience, Pfizer, Inc. and others.
The Global Hemostasis and Tissue Sealing Agents market is segmented as follows:
Global Hemostasis and Tissue Sealing Agents Market, by Types of Products
- Collagen based Topical Hemostats
- Oxidized Regenerated Cellulose (ORC) based Topical Hemostats
- Gelatin based Topical Hemostats
- Polysaccharide based Topical Hemostat
- Active Hemostats (Thrombin-Based Topical Hemostats)
- Flowable Hemostats (Combination Topical Hemostats)
Adhesive and Tissue Sealing Agents
Natural Tissue Sealant
- Fibrin Sealant
- Other Natural Sealant (Albumin and Collagen based Tissue Sealant)
Synthetic Tissue Sealant
- Cynoacrylate-Based Tissue Adhesives
- Other Synthetic Tissue Sealant (Polyethylene Glycol and others)
- Adhesion Barrier Products
Global Hemostasis and Tissue Sealing Agents Market, by Geography
- North America
- Rest of the World (RoW)