Global Hemostats Market to reach $2.9 billion by 2021
According to the research, the global Hemostats Market is expected to reach $2.9 billion by 2021, at a developing CAGR of 6.2 % from 2016 to 2021.
Global Hemostats market growth is attributed to the rise in the surgery procedures and increasing the number of insurance providers of the hemostats products in the market. Despite this, high cost of Hemostats devices hindering the market. In 2015, about 62.8 % of this market was dominated by America. Over the years, these products have been used during surgeries to stop bleeding within a short span of time. These products are biodegradable, absorbable, and cost-effective. They have tenure of maximum 2 years with no adverse effects.
By type, the global hemostats market is divided into thrombin-based, oxidized regenerated cellulose based hemostats, combination hemostats, gelatin based hemostats, and collagen based hemostats. The Thrombin based hemostats segment accounted for the largest share of 34.2% of the global hemostats market in 2015.
The administration and monitoring of hemostats during surgical procedures is a complex task for clinicians, as it depends upon the blood flow from the particular area of surgery. The usage of hemostats has no adverse effects and is an important procedure to prevent blood loss in patients, especially among the aging population. The market for hemostats is rapidly increasing with technological advancements and increasing number of surgeries. Also, hospitals and healthcare facilities are gradually increasing, supported by government which in turn is driving the growth of the hemostats market.
Technological advancements in wound closure market and increasing number of Insurance providers for medical equipment like hemostats products are also contributing towards the growth of the market.
The major companies in this market include Johnson & Johnson Services, Inc. (U.S.). C. R. Bard, Inc. (U.S.), Baxter (U.S.), B Braun Melsungen AG (Germany), Pfizer Inc. (U.S.), Vascular Solutions, Inc. (U.S.), Gelita Medical GmbH (Germany), Equimedical (Netherlands), Integra Lifesciences Holdings Corporation (U.S.), Z-Medica, LLC (U.S.), and Marine Polymer Technologies, Inc. (U.S.). These companies adopted various strategies, such as mergers & acquisitions and partnerships, to achieve growth in the global anesthesia monitoring devices market.
The statistics are given by the report “Global Hemostats Market, By Type (Thrombin-Based, Oxidized Regenerated Cellulose Based Hemostats, Combination Hemostats, Gelatin Based Hemostats, And Collagen Based Hemostats), – Global Forecast To 2021”. Objective of this revenue forecast is to analyze the market trends, share, growth & restraining factors and projection supported by market estimates and forecasts of global market.
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