Global Hemostasis & Tissue Sealing Agents Market – Save Blood, Save Life
Hemostasis is a physiological processes, which maintains fluidity of blood by preventing blood loss from body. Hemostasis is characterized by clot formation by activating the natural coagulation cascade. However, in cases of major surgeries and trauma, the blood loss is excessive and cannot be stopped through natural healing process. Thus, hemostats and tissue sealing agents aid in such situations by minimizing the blood loss and helps in healing the injury. Hemostats and tissue sealing agents are increasingly being used, as excessive bleeding during surgical procedures can lead to high risk. Moreover, excessive bleeding can also result in postoperative complications that include prolonged surgical procedures and insufficient blood in the body. According to In-Patient Epidemiology, a statistical survey conducted by Department of Surgery, Division of Acute Care and Trauma Surgery, New York University 2012, blood loss accounts for up to 31% of deaths in victims of trauma and catastrophic accident patients in the U.S. Therefore, prevention of such occurrences is important for positive patient outcomes and success of surgical procedures. Thus, topical hemostats in terms of mechanical hemostats, active hemostats, and Flowable hemostats, that are solutions topically applied directly on the bleeding site as well as natural and synthetic tissue sealants act as adjunct to natural hemostasis procedure and are applied locally to control blood loss.
The global hemostasis & tissue sealing agents market was valued at US$ 3,236.2 million in 2017 and is expected to witness a robust CAGR of 8.1% over the forecast period (2017–2025).
Figure 1. Global Hemostasis & Tissue Sealing Agents Market Value (US$ Mn), by Region, 2017
Source: Coherent Market Insights (2018)
Rising number of surgical procedures coupled with increasing trauma cases to foster global hemostasis & tissue sealing agents market
Factors such as increasing number of surgical procedures as well as rising number of road accidents are expected to significantly contribute to growth of the hemostasis and tissue sealing agents market. For instance, according to Health and Social Care Information Centre (HSCIC), surgery is one of the most important treatments offered by NHS care in the U.K., and accounted for 4.7 million admissions across multiple sectors in 2013-14. The data also suggests that the number of surgical procedures has increased by 27% between 2004 and 2014. According to Centers of Disease Control and Prevention (CDC), around 200,000 deaths were encountered in 2014, due to trauma injuries in the U.S. Increasing incidence of road accidents has led to traumatic sport injuries is a major factor fueling demand for hemostats, thereby driving the market growth. According to the World Health Organization 2016, over 50% affected in road traffic accidents were admitted in the hospitals and underwent trauma surgeries. Hemostats are used in trauma surgeries and also in various conventional surgeries such as hernia repair surgery, orthopedic, open heart and cardiovascular surgeries, and neurosurgery that involve significant blood loss, due to larger size incisions made on the body of the patient. According to the annual report of American Joint Replacement Registry (AJRR), 2016, a total of 427,181 procedures were reported for joint replacement surgeries. However, lack of favorable reimbursement policies for failure of hemostats in blood loss control as well as increasing cost of surgical procedures is expected to hinder the market growth.
North America to dominate global hemostasis & tissue sealing agents owing to incorporation of newer technologies in new products and extensive research & development for the same
In terms of region, North America is the dominant in the global hemostasis & tissue sealing agents market. This is attributed to rapid development and launch of novel tissue sealing compounds and products by key players in the market in the region. For instance, in March 2018, BodeVet, Inc., a blood-related products company, introduced StablePlate RX Canine as the world’s first injectable freeze dried platelet derived product used for the treatment of acute uncontrolled hemorrhage in bleeding patients. In December 2012, Ethicon, Inc., a company offering hemostasis and sealing solutions, received U.S. FDA approval for EVARREST Fibrin Sealant patch that rapidly and reliably aids in stopping problematic bleeding during surgery.
On the other hand, Asia Pacific is expected to exhibit high growth over the forecast period, owing to rising number of surgical procedures as a result of increasing medical tourism in emerging economies such as China, Singapore, and India. For instance, according to an article published by OrthoStreams, a privately held orthopedic devices company, orthopedic surgeries in China and other emerging economies are 75% cost effective as compared procedures performed in the U.S. Additionally, rising number of road accidents in Asia Pacific region leading to trauma admissions in emergency departments also contributes to the growth of the market in the region over the forecast period. According to the Ministry of Road Transport and Highways, Government of India, the total number of persons injured in road accidents in 2015 are 500,279. These are expected to aid in growth of the market.
Market players are launching innovative products to sustain their position in the global hemostasis & tissue sealing agents market
Key players in the market are focused on expansion of their presence through launch of new product lines in emerging economies. For instance, in March 2018, Baxter International, Inc. completed acquisition of two hemostat products from Mallinckrodt Plc and announced to widen its customer base through launch of RECOTHORM and PREVELEAK hemostat sealant in Japan. Moreover, players are also focusing on offering innovative products, in order to enhance their market share. For instance, in January 2018, Ethicon LLC, a part of Johnson & Johnson Medical Devices Companies, introduced SURGICEL powdered absorbable hemostat that assists to combat disruptive bleeding on broad and oozing surfaces.
Key players operating the global hemostasis & tissue sealing agents market include Cryolife, Inc. Baxter International, Inc., Ethicon LLC, Integra Lifesciences Corporation, Becton, Dickinson & Company, Cohera Medical, Inc., Pfizer, Inc., Medtronic plc, B. Braun Melsungen AG, MIL Laboratories Pvt. Ltd, Advanced Medical Solutions Group Plc, and others.
Hemostasis is a natural process that stops blood loss in case of an injury or incision on the body. The process of hemostasis involves three major steps that includes vascular spasm, platelet plug formation, and coagulation. Maintaining hemostasis is one of the crucial step for clinicians working on surgical procedures and trauma management. Thus, commercially available hemostats and tissue sealing agents play an important role in preventing blood loss in cases of uncontrolled bleeding. These hemostats and tissue sealants are available in the market in the form of patches, powders, gels, sponges, and other formulations that are intended to perform the same function of controlling excessive blood flow.
Hemostats and tissue sealants are used in a wide range of medical applications that include hernia fixation surgery, orthopedic surgery, spinal injury, trauma or accident wound closure, ophthalmic injuries or replacements, burns, neurosurgeries, urological disorders, and other chronic conditions to control excessive bleeding. Thus, increasing number of surgical procedures is expected to be a major factor augmenting growth of the global hemostasis and tissue sealing agents market. For instance, according to the Wound Management Innovation Center, 2015, wounds are estimated to affect over 433,000 people in Australia and the economic burden is estimated to be around US$ 2.85 billion per year. Moreover, according to The World Bank in 2012, the number of surgical procedures performed per 100,000 population were accounted to be 4,511 globally. However, lack of reimbursement for these agents and products could hinder the market growth.
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