HEMOSTATIC SPRAY MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Report Description

Hemostatic sprays are a vital medical innovation that aids in the control of bleeding during surgical procedures or in emergency situations. These sprays are designed to quickly and efficiently stop bleeding by promoting clot formation and thus creating a protective barrier over the wound. Hemostatic sprays have gained immense popularity in the healthcare industry due to their ease of use, effectiveness, and ability to minimize blood loss, thereby reducing the need for blood transfusions. Hemostatic spray is a medical product used to stop bleeding during surgical procedures or in emergency situations. It works by forming a layer over the bleeding area, which helps to clot the blood and stop the bleeding. The spray typically contains a substance that promotes clotting, such as thrombin or fibrinogen, and may also contain a substance to help adhere to the tissue, such as collagen or gelatin. The spray is applied directly to the bleeding area, either through a spray canister or a specialized device. Hemostatic sprays are used in a variety of medical settings, including surgery, emergency medicine, and trauma care. They are particularly useful in situations where traditional methods of controlling bleeding, such as sutures or staples, are not effective or practical. The global market for hemostatic sprays is increasing, which is driven by factors such as the increasing number of surgical procedures, the rising prevalence of chronic diseases that require surgery, and advancements in hemostatic spray technology. Key market players in the global hemostatic spray market include companies that manufacture and distribute these products, such as Baxter International, C.R. Bard, and Johnson & Johnson. These companies are investing in research and development (R&D) to improve the efficacy and safety of hemostatic sprays and to expand their applications.

Market Dynamics:

Increasing product approval by the regulatory bodies is expected to drive the growth of the market over the forecast period. For instance, in September 2022, Shilpa Medicare Limited, a medical device company, announced the Central Drugs Standard Control Organisation (CDSCO) approval of its hemostatic spray.

Despite these challenges, the market presents numerous opportunities for growth. Advancements in hemostatic spray formulations and the development of innovative delivery systems have the potential to expand the market. Moreover, the introduction of government initiatives to improve healthcare infrastructure, particularly in emerging economies, will likely boost the demand for hemostatic sprays.

Key features of the study:

• This report provides in-depth analysis of the global hemostatic spray market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023–2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global hemostatic spray market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include Olympus Corporation, Medtronic plc., Shilpa Medicare Limited, Baxter, BC3 Technologies, Ethicon, Pfizer Inc., HemCon Medical Technologies, Z-Medica, Teleflex Incorporated, Tricol Biomedical, Arch Therapeutics, and Cook
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global hemostatic spray market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global hemostatic spray market

Global Hemostatic Spray Market Detailed Segmentation:

• By Product Type
  • Gelatin Based
  • Collagen Based
  • Cellulose Based
  • Chitosan Based
  • Combination Hemostats
  • Others
• By Application
  • Trauma Care
  • General Surgery
  • Vascular Surgery
  • Cardiac Surgery
  • Plastic Surgery
  • Orthopedic Surgery
  • Neurosurgery
• By End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Tactical Combat Casualty Care Centers
  • Others
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
• Top Companies in the Global Hemostatic Spray Market:
  • Olympus Corporation
  • Medtronic plc.
  • Shilpa Medicare Limited
  • Baxter
  • BC3 Technologies
  • Ethicon
  • Pfizer Inc.
  • HemCon Medical Technologies
  • Z-Medica
  • Teleflex Incorporated
  • Tricol Biomedical
  • Arch Therapeutics
  • Cook