Combination Hemostats Are Dominant In The Global Hemostats Market
The global Hemostats market is expected to witness a CAGR of 6.2% to reach revenue of $3.4 billion by 2025
Bangalore, India, May 30, 2019: With its recently published study “Global Hemostats Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for Hemostats is expected to witness single-digit growth during 2019–2025. The market for Hemostats is highly fragmented due to the presence of numerous players with the best technology and evolving product pipeline. The technical developments in the surgical area are perhaps the key drivers for the evolution of existing Hemostats, and the advancement of new-generation products for invasive and non-invasive procedures where the formulation and design of accessible Hemostats primarily confine their application.
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Among the products, the higher efficacy has made thrombin-based Hemostats the major shareholder in the market. Combination agents are profiting from the highest growth rate as medical practitioner take on more complex and risky procedures that necessitate efficient, fast-acting products for successful control of bleeding. Currently, Loma Linda University is conducting a clinical trial to study the effectiveness of BoneSeal on bone Hemostats in patients undergoing cardiothoracic surgery.
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North America has a significant share in the Hemostats market with the US being the major contributor to revenue. In 2018, Mayo Clinic (US) in collaboration with CSL Behring completed a phase III randomized controlled clinical trial directly comparing Prothrombin Complex Concentrate (PCC) to Fresh Frozen Plasma (FFP) for post cardiopulmonary bypass microvascular bleeding and factor-mediated coagulopathy. The market in the coming years is expected to grow at a faster pace in countries such as India and China due to the presence of a large pool of patients that offers tremendous opportunities for vendors to target product sales and increase global shares by penetrating these markets. Ethicon (J&J) is currently conducting a clinical trial in Prospective, RCT evaluating the safety and haemostatic effectiveness of SURGICEL powder in controlling mild or moderate parenchymal or soft tissue intraoperative bleeding during surgery in Chinese adult subjects.
“Mergers & acquisitions have been the primary strategy followed by major players to maintain their leadership in the market. In January 2019, Advanced Medical Solutions Group plc. acquired Sealantis. In March 2018, Baxter acquired RECOTHROM and PREVELEAK from Mallinckrodt plc to broaden surgical haemostat and sealant portfolio. New products launched are posing a threat to the previously available products in the market. In January 2018, Z-MEDICA officially launched QUIKCLOT CONTROL” – Rikitha K Murthy, Research Analyst, Infoholic Research
Key Insights of the Report Include:
- Thrombin-based Hemostats
- Gelatin-based Hemostats
- Collagen-based Hemostats
- Oxidized Regenerated Cellulose-based Hemostats
- Combination Hemostats
- Active Hemostats
- Passive Hemostats
- Combination Hemostats
- Industry outlook: Market trends, drivers, restraints, and opportunities