Hemostat Market Size, Share, Growth, Analysis, Trend, and Forecast Research Report by 2028 – EIN News

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Reports And Data
The global hemostat market is a fast-growing sector and is widely driven by the increasing number of surgeries acquainted with chronic disorders
NEW YORK, NY, UNITED STATES, November 5, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the hemostats market was valued at USD 2,409.4 Million in 2020 and is expected to reach USD 3,862.9 Million by the year 2028, at a CAGR of 6.2%. It is a surgical instrument that is used to control the flow of blood during surgical procedures. These surgical hemostats are used in the initial steps of surgery when an incision is performed. It can be used in various forms like sealants, topical hemostats, and mechanical instruments, which are meant for surgical use only. The major goal of a hemostat is the adhesion of wounds, to cease blood flow, and ensure rapid healing of the wound. The hemostat market is widely driven by the free fall in lifestyle due to which lifestyle-oriented diseases occur in many people. Various diseases, especially cardiovascular and orthopedic diseases, are treated through surgical procedures, which is extensively driving the market.
The number of reconstructive procedures, significantly tumor removal, has constantly been increasing. According to the American Society of Plastic Surgeons (ASPS), approximately 4.5 million tumor removal procedures were performed in 2020 in the US. The obesity epidemic is also increasing in the US, fueling the market. An annual report from the United Health Foundation stated that there had been a significant increase in the obesity rate of the U.S. by 5%. The obesity rate was recorded to be 29.9% in 2017, which increased to 31.3% in 2020. The geriatric population require critical care and are quite acquainted with surgical procedures. This population is widely affected by orthopedic surgeries due to a decrease in bone density. Therefore, the elderly population is widely driving the market.
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The new technological advancements have led the market to grow. Many companies such as Baxter, Ethicon (J&J), and others have invested in research and development for new innovative products of hemostats, making it effortless to use for the end users. These devices are economical and cost efficient, therefore anticipating market growth.
Some of the market restraints include low awareness about hemostats and their use. Also, stringent rules are devised by the regulating bodies to use hemostats to avoid any kind of infections or allergies after use.
A comprehensive analysis of the value chain and downstream raw materials and upstream essentials is offered in the report. The market report also covers technical data, manufacturing and production costs, research and development activities, regulatory framework, macro and micro-economic factors, and globalization. The report further segments the Hemostat market on the basis of key companies, product types, applications, and key regions to impart better understanding of the Hemostat market.
Leading Companies Profiled in the Report are:
Johnson and Johnson, Baxter International, Pfizer, Integra Life Sciences, Z-Medica LLC, Abbott Laboratories, B. Braun Melsungen AG, CR Bard, Gelita Medical GmbH and Hemostasis LLC.

Further key findings from the report suggest
• North America is the leading consumer of the hemostats, further followed by the Asia-Pacific and Europe. Asia-Pacific is the fastest growing region with a CAGR of 7.0%. The increasing number of surgeries and changes in regulatory policies encourages the market in the region.
• A wide range of applications, continuous advancement in the product portfolio of companies such as Ethicon and Baxter international have widely driven the market. The products from these key players have received approval from the U.S. FDA as well as by other international organizations.
• Recently, in December 2020, Baxter introduced a surgical innovation, which, a disposable curved applicator which enhances the activity of Floseal. Floseal is a hemostat product by Baxter used for ENT procedures. This advancement has improved the efficacy of Floseal and made it the leading hemostat in the US.
• Recently, in May 2019, the FDA might loosen up the premarket expectations of certain collagen-based hemostats and shift them to class-II devices rather than class III devices. The recommendation was given by the general and plastic surgery devices panel. Ethicon (J&J) is against this recommendation stating that collagen-based hemostats are complex products and need strict controls to ensure safety.
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For the purpose of this report, Reports and Data has segmented the Hemostat market on the basis of product, application, formulation and region:
Product Outlook (Revenue in Million USD; 2018–2028)
• Thrombin-based hemostats
• Gelatin-based hemostats
• Collagen-based hemostats
• Combination hemostats
• Oxidized regenerated cellulose-based hemostats
Application Outlook (Revenue in Million USD; 2018–2028)
• General surgery
• Orthopedic surgery
• Cardiovascular surgery
• Reconstructive surgery
• Gynecological surgery
• Neurological surgery
• Other surgeries
Formulation Outlook (Revenue in Million USD; 2018–2028)
• Sheet & pad hemostat
• Sponge hemostats
• Matrix & gel hemostats
• Powder hemostat
End Use Outlook (Revenue in Million USD; 2018–2028)
• Hospitals
• Clinics
• Ambulatory centers
• Community healthcare
• Others
Key Regions Covered in the Report:
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
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Market Overview:
The pharma and healthcare industry, over the recent past, has undergone a paradigm shift with regards to the adoption of advanced technologies. Integration of AI, ML, 3D printing, and AR/VR have accelerated the R&D process, develop innovative and personalized medicines and therapies, and have improved efficiency and effectiveness of overall healthcare processing thereby improving patient outcomes. In addition, growing popularity and acceptance of wearable tech that enables patients to manage their health and make fruitful decisions and increasing integration of patient monitoring systems have further contributed to the revenue growth of the market. Progress in genomics and proteomics, focus on personalized medicine, and increasing number of clinical trials for pipeline therapeutics are further expected to create lucrative opportunities for key players in the market.
Key Benefits of the Global Hemostat Market Report:
• In-depth analysis of the market potential, threats, limitations, growth prospects and opportunities, drivers, restraints, challenges, and risks
• Analysis of the market opportunities and key trends to help stakeholders capitalize on the emerging prospects
• Analysis and accurate forecast estimation of the Global Hemostat Market
• Study of the key players including SWOT analysis and Porter’s Five Forces
• Analysis of each segment and sub-segment of the market to determine the growth trends and their market contribution
• Study of the developments in the competitive landscape such as agreements, partnerships, expansions, new product launches and brand promotions, and other market features
Highlights of the TOC of the report:
• Chapter 1: Market overview
• Chapter 2: Global Hemostat market analysis
• Chapter 3: Regional analysis of the Hemostat industry
• Chapter 4: Market segmentation based on types and applications
• Chapter 5: Revenue analysis based on types and applications
• Chapter 6: Market share
• Chapter 7: Competitive Landscape
• Chapter 8: Drivers, Restraints, Challenges, and Opportunities
• Chapter 9: Gross Margin and Price Analysis
• So on
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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