Hemostats Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2024-2030)

Hemostats Market Size

Hemostats Market Trends & Drivers

The most-critical driving factor for this market is the surge in the number of surgical procedures globally, which has led to an increase in the number of people suffering from bleeding issues after the surgery. Further, in recent years, the accessibility of a wide range of management tools and the need to achieve hemostasis during surgical procedures have increased dramatically.

For instance, a recent study published by the National Center for Biotechnology Information (NCBI) states that approximately 60–70% of all transfused red blood cells are used in a surgical suite, as bleeding during surgeries is one of the most-feared consequences. Hence, the need to reduce the risk of exsanguination during surgeries has driven the demand for products to achieve hemostasis.

The rising frequency of technological advancements in surgical products is another important market driver, due to the effectiveness of advanced products in achieving hemostasis. The substantial investments in R&D have also imparted additional benefits to these products, including lower prices and a decreased risk of infections. This has also resulted in a greater range of applications for these products, in terms of the surgical procedures. For instance, TISSEEL is an advanced fibrin sealant offered by Baxter to control blood loss.

Moreover, in April 2019, Biom’up announced that the U.S. Food and Drug Administration has approved the Investigational Device Exemption (IDE) application for HEMOSNOW, which is a hemostatic dry powder created from porcine collagen and bovine-derived chondroitin sulfate, for managing low levels of bleeding during surgical procedures.

Hemostats Market Analysis

Orthopedic Surgery Category Dominates Industry

Based on application, orthopedic surgery dominated the market with a share, of more than 34%, in 2022, and it will continue being dominant during the forthcoming period. This can be attributed to the growing geriatric population, increasing incidence of sports injuries, escalating number of laparoscopic surgeries, rising count of road accidents that lead to surgical procedures, and booming prevalence of obesity and age-related problems, including arthritis and osteoporosis. These factors are responsible for the growing number of orthopedic surgeries globally, thus driving the demand for products to minimize the loss of blood.

Furthermore, due to the growth in the older population, the number of patients who undergo joint replacement surgeries, such as complete knee and hip replacements, has been gradually rising. In addition, the demand for orthopedic implants among the senior population is increasing due to the growth in the incidence of musculoskeletal disorders and fractures caused by osteoporosis.

According to the statistics of the Arthritis Foundation, 14 million people in the U.S. were confirmed to have symptomatic knee osteoarthritis in 2019, while an estimated 30.8 million adults were identified to have arthritis. Moreover, according to projections, there would be 78.4 million adults in the U.S. with osteoarthritis by 2050, an increase of 49%.

Cardiovascular Surgery Category To Show Fastest Growth

The cardiovascular surgery category will witness the fastest growth during the prediction period. This can be attributed to the rising prevalence of cardiac disorders, increasing number of vascular surgeries, and the rising instances of mental stress in people. The incidence of cardiac diseases is rising globally due to the sedentary lifestyles, genetic predisposition, and many more factors. According to a report, globally, approximately 190,000 cardiac surgeries are performed every year, thus driving the demand for hemostats.

Furthermore, gynecological surgery will show significant growth in the demand for hemostats. This is owing to the high incidence and awareness of gynecological diseases and the rising government investments for providing advanced women’s healthcare services. Moreover, the increasing volume of surgeries such as female sterilization, ablation, endoscopies, and laparoscopies and the surging use of disposable items are expected to boost the product demand. Moreover, with the rising incidence of PCOD/PCOS, gynecological surgeons are frequently performing surgeries on the female reproductive system and the bladder.

Thrombin-Based Hemostats Accounted for Largest Share

By product type, the thrombin-based category accounted for the largest hemostats market share, of more than 30%, in 2022, a situation that will remain the same during the forthcoming period. As per research studies, thrombin-based hemostatic agents administered prior to wound closure decrease postoperative blood loss and the need for transfusions. Moreover, by using these products, there is no risk of infection, deep vein thrombosis, or other complications.

Thrombin-based variants are widely utilized in knee arthroplasty procedures. Additionally, this product is easily storable at room temperature, which will further increase the demand for it. Furthermore, the addition of a porcine gelatin sponge, which makes it easier to apply with direct pressure, can boost a thrombin hemostat's effectiveness even further.

Further, the collagen-based category is expected to witness considerable growth during the forecast period, owing to the rising number of surgeries and the extensive efforts of medical device and biotech companies for developing these products.

Matrix & Gel Hemostats Category Held Largest Share

By formulation type, the matrix & gel hemostats category held the largest share in 2022, and it is further expected to maintain its dominance in the future. This can be attributed to the growing adoption of these formulations by end users due to their potential advantages, including improved surgical site visibility, less chance of infection, shorter operating times, reduced transfusion needs, improved management of an anticoagulated patient, quicker wound healing, and faster overall patient recovery.

Furthermore, the powder category accounted for a substantial revenue share. This can be attributed to the increase in the prevalence of cardiovascular illnesses and the adoption of novel surgical products in hospitals. Powder variants get right to the source of the bleeding, which they can stop rapidly, in just 30 seconds. Moreover, to stop continuous bleeding from large incisions, powder hemostats are used as they can be spread over large surgical areas. Moreover, SURGICEL powder offers bactericidal activity in vitro, against five of the most-common hospital-acquired pathogens, and it is fully absorbable within 7 to 14 days. For instance, in March 2020, Ethicon, a subsidiary of Johnson & Johnson, unveiled SURGICEL, a powder-based absorbable hemostat, in New Zealand, Australia, and Thailand.

Geographical Outlook

Geographically, North America held the largest share, of around 32%, in 2022, and it will witness strong growth due to the substantial research and development activities, itself due to the robust support for the setup of new R&D facilities; rising prevalence of cardiac and orthopedic diseases and volume of associated surgeries, and existence of reputable healthcare businesses in the region. Additionally, the region's rapid adoption of new technologies and the rising prevalence of chronic diseases both support the expansion of the market.

Hence, their advantageous healthcare infrastructure, growing consumer awareness, robust support of the government, and technological advancements in the healthcare sector have made both the U.S. and Canada attractive target markets for the players.

Moreover, Europe is showing significant growth in the market due to the presence of prominent research institutions and key players operating in this domain. Both these factors lead to an easy availability of advanced technologies, thus enhancing patient outcomes. Moreover, the launch of advanced products in the region, such as FLOSEAL, TISEEL, and HEMOPATCH, is expected to propel the demand for them in European countries. Essentially, the regional market is expected to be driven by the rising geriatric population, which is leading to a higher number of surgeries.

Furthermore, Germany is a key market in the region. This is owing to the rise in the healthcare spending in the country and the rising awareness about the use of hemostatic agents, adhesives, and tissue sealants to avoid the risk of postoperative bleeding. Moreover, the increasing demand for more-effective and quicker healing post the surgery propels the market.

Additionally, the market in France is expected to witness notable growth during the forecast period. This can be attributed to the improving healthcare infrastructure, presence of major market players, increasing prevalence of chronic diseases, rising use of these products in surgical procedures, and surging count of initiatives by healthcare organizations to incorporate these solutions in their everyday practice.

Report Breakdown

Based on Application

• Orthopedic Surgery
• General Surgery
• Neurological Surgery
• Cardiovascular Surgery
• Reconstructive Surgery
• Gynecological Surgery

Based on Product Type

• Combination Based Hemostats
• Thrombin based hemostats
• Oxidized Regenerated Cellulose-Based Hemostats
• Gelatin Based Hemostats
• Collagen Based Hemostats

Based on Formulation

• Matrix & Gel Hemostats
• Sheet & Pad Hemostats
• Sponge Hemostats
• Powder Hemostats

Based on End user

• Ambulatory Centers
• Hospitals
• Clinics
• Community Healthcare

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
• Asia-Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa
  • U.A.E.

Top Hemostats Producers