Hemostasis and Tissue Sealing Agents Market

• According to Transparency Market Research’s latest report on the global hemostasis and tissue sealing agents market for the historical period 2017–2018 and forecast period 2019–2027, rise in demand for minimally invasive procedures and increase in global geriatric population are projected to drive the global hemostasis and tissue sealing agents market during the forecast period
• According to the report, the global hemostasis and tissue sealing agents market was valued at US$ 5.1 Bn in 2018 and is anticipated to expand at a CAGR of 8.3% from 2019 to 2027

Request a sample to get extensive insights into the Automotive Heat Shield Market

Rise in demand for minimally invasive procedures: Key Drivers

• The preference for minimally invasive surgeries has increased significantly in the past few years. Minimally invasive surgeries have advantages such as shorter hospital stay, minimal incision, fewer post-surgical complications and shorter recovery time. Systemic hemostatic agents such as gelatin and collagen-based hemostat powders are widely used in minimally invasive procedures. These agents enable surgeons to perform complex surgeries.
• According to a study conducted by the World Health Organization (WHO), approximately 234.2 million major surgical procedures are undertaken by various hospitals and surgical centers across the world each year. Thus, rising number of surgical procedures and growing preference for minimally invasive procedures boosts the demand of hemostat and tissue sealing agents.

To understand how our report can bring difference to your business strategy, Ask for a brochure

Aging population increases the number of surgeries needing hemostat products boost market growth

• Treatment services have become affordable due to improvement in health care policies in countries such as the U.S., Japan, the U.K. and China. This, in turn, has increased the life expectancy of the population. Consequently, rise in the geriatric population increases the number of surgical procedures that use adhesion barrier and hemostat products. According to the U.S. Department of Health & Human Product estimates, the U.S. will have about 72.1 Mn geriatric population by 2030, which is more than twice the number in 2000.
• The UN Population Division has projected that the number of people aged 60 years and above will increase significantly during 2015–2030. In developed countries, the total proportion of people aged 60 years and above has increased from 12% in 1950 to 22% in 2011 and is expected to reach 32% by 2050. Thus, the aging population drives the uptake of hemostat, tissue sealant and adhesion barrier products and boosts market growth.

High cost and strict regulatory requirement to Hamper Market

• Hemostat and tissue sealant products development is a complex and expensive process. Regulatory approval of hemostat products demands valid scientific evidences, well controlled investigations and documented case studies. Despite high expense incurred for the development of hemostat products by manufacturers, the success rate of the approval of these products by regulatory bodies is low. Low efficacy and safety of the products have been attributed to the low approval rate of hemostat products. Only a small number of companies have entered the market due to setbacks faced in clinical studies by hemostat manufacturers. This hampers the growth of the hemostasis and tissue sealing agents market.

Global Hemostasis and tissue sealing agents Market: Competitive Landscape

• This report profiles major players in the global hemostasis and tissue sealing agents market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
• The global Hemostasis and tissue sealing agents market is highly fragmented, with the presence of a number of international as well as regional players
• Leading players operating in the global Hemostasis and tissue sealing agents market are
  • Advanced Medical Solutions Group plc
  • Baxter
  • Cohera Medical, Inc.
  • CryoLife, Inc.
  • C.R. Bard, Inc.
  • Johnson & Johnson Services, Inc.
  • Integra LifeSciences Corporation
  • Pfizer, Inc.
  • Cohesion Technologies Inc.
  • B Braun Medical Inc
  • other prominent players.

Stuck in a neck-to-neck competition with other brands? Request a custom report on Hemostasis and Tissue Sealing Agents Market

Global Hemostasis and Tissue Sealing Agents Market: Key Developments

Key players in the global hemostasis and tissue sealing agents market are engaged in regulatory approvals, technologically advanced products, launch of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel the growth of the global hemostasis and tissue sealing agents market. A few expansion strategies adopted by players operating in the global Hemostasis and tissue sealing agents market are:

• In July 2020, Sysmex Corporation launched new product in the hemostasis field i.e. Automated Blood Coagulation Analyzers, which is used for chemiluminescence enzyme immunoassay to enhance testing workflow efficiency
• In January 26, 2020, Terumo Corporation launched new surgical sealant product i.e. AQUABRID in EMEA Market. This product helps to stop bleeding during aortic surgical procedures.
• In January 2018, Baxter acquired two hemostat and sealant products i.e. RECOTHROM and PREVELEAK from Mallinckrodt plc for broaden portfolio of innovative surgical products.

The report on the global hemostasis and tissue sealing agents market discussed individual strategies, followed by company profiles of manufacturers of hemostasis and tissue sealing agents. The competitive landscape section has been included in the report to provide readers with a dashboard view and a company market share analysis of key players operating in the global hemostasis and tissue sealing agents market.