Impact Analysis of Covid-19

The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

India Hemostat Market – Insights

Hemostat an instrument for preventing the flow of blood from an open blood vessel by compression of the vessel. It is available in various sizes, materials, and compositions and used in surgeries and trauma cases, where there is excessive blood flow and loss. Absorbable hemostat powder, hemostat sponge, hemostat strips, hemostat films, and hemostat gauzes are some of the hemostat products.

India hemostat market is estimated to account for US$ 63.1 Mn in terms of value in 2018 and is expected to reach US$ 105.1 Mn by the end of 2027.

India Hemostat Market: Drivers

High prevalence of blood disorders is expected to propel growth of India hemostat market over the forecast period. For instance, according to the World Health Organization, India recorded 42055 new cases and 32,471 deaths due to leukemia in 2018.  

Moreover, increase geriatric population is also expected to aid in growth of the market. For instance, according to the United Nations April 2019 data, the share of geriatric population in India is expected to increase to nearly 20% in 2050

Mechanical hemostat held dominant position in India hemostat market in 2018, accounting for 88.8% share in terms of value, followed by 2027.

India Hemostat  | Coherent Market Insights

India Hemostat Market: Restraints

No or low awareness among medical faculty regarding latest hemostat products is expected to hinder growth of India hemostat market. Medical faculty at majority of government-run and private hospitals in India have no or low awareness of the latest hemostat products. Use of conventional practices during surgeries are still followed in a majority of the hospitals across the country. Furthermore, reluctance to shift to newer and more advanced hemostat products is attributed to low availability and visibility of such products in the country. 

High cost of hemostat products is also expected to hamper growth of the market. Majority of hemostat products manufacturers offer products at prices that may be seen as steep by some customers. In addition, international products are mainly available in tier 1 cities and are priced relatively higher that those manufactured by domestic players.  

India Hemostat Market: Opportunities

Increasing preference for out-patient surgeries is expected to offer lucrative growth opportunities for players in India hemostat market. Out-patient surgeries result in lower healthcare expenditure. Therefore, out-patient surgeries are more preferred for cover by insurance payers offering medical reimbursement services. Moreover, out-patient surgeries do not require overnight or prolonged stays in hospitals.

Moreover, low cost of surgeries is also expected to aid in growth of the market. The average hospital charge for a total knee replacement (TKR) in the U.S. is US$ 49,500, whereas in India the surgery costs around US$ 2,800.

India Hemostat  | Coherent Market Insights

Surgeries segment in India hemostat market was valued at US$ 39.8 Mn in 2018 and is expected to reach US$ 64.4 Mn by 2027 at a CAGR of 5.4% during the forecast period.

Market Trends/Key Takeaways

Mechanical hemostat products are widely utilized more by surgeons and other medical practitioners due to high efficiency in controlling blood loss. Doctors and surgeons in metro cities such as Bangalore and Delhi prefer sponges, gauzes, strips, film, and others during various surgeries.

Surgeons in Tier 1 cities are gradually shifting preference towards hemostat products. This is owing to benefits of hemostats such as superior absorption capability and positive outcomes of patients.

India Hemostat  | Coherent Market Insights

India Hemostat Market: Competitive Landscape

Major players operating in India hemostat market include, Ethicon Inc., Aegis Lifesciences. Eucare Pharmaceuticals (P) Ltd., Baxter International, Axio Biosolutions Private Limited, and Mil Laboratories.

India Hemostat Market: Key Developments

Players in the market are focused on raising funding to expand their geographical presence. For instance, in January 2020, Axio Biosolutions Private Limited raised US$ 5.2 Mn in Series B-1 round. The company plans to use the latest funding to expand its footprint in the U.S. and Western Europe.

Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in December 2019, Baxter International launched its disposable curved applicator that is designed to enhance the delivery of its Floseal Hemostatic Matrix product line.

Hemostats, also referred to as hemostatic clamp, arterial forceps or pean are surgical tools used in surgical procedures to control bleeding. The hemostats were designed to clamp blood vessels of small size to manage blood flow in hemorrhagic cases. These devices are also used to grasp and secure superficial fascia during wound closure surgical procedures. The hemostats, with hinges and rings, are visibly similar to scissors. These instruments have a locking mechanism known as rachet that is used for clamping wherein the jaws of locking forceps come together, which helps in sealing the opening of the blood vessels. In many cases, the hemostats can be used to hold the subcutaneous tissues on the edges of the wound, while the tissue forceps are applied to the other edge to retract and gain better exposure to the wound site.

Restraints of the India Hemostat Market

Lack of awareness among healthcare practitioners regarding latest hemostat products is expected to hinder growth of India hemostat market.  

Key features of the study:

  • This report provides in-depth analysis of the India hemostat market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2019–2027), considering 2018, as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the India hemostat market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, strategies, and future plans
  • Key companies covered as a part of this study include Ethicon Inc., Aegis Lifesciences. Eucare Pharmaceuticals (P) Ltd., Baxter International, Axio Biosolutions Private Limited, and Mil Laboratories.
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding future product launches, technology up-gradation, market expansion, and marketing tactics
  • The India hemostat 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 market.

Detailed Segmentation

  • India Hemostat Market, By Product Form:
    • Mechanical
    • Flowable
  • India Hemostat Market, By Product Base:
    • Gelatin
    • Cellulose
  • India Hemostat Market, By Application:
    • Surgeries
    • Trauma Cases
  • India Hemostat Market, By End User:
    • Hospitals
    • Ambulatory Surgical Centers
    • Clinics
  • Company Profiles
    • Ethicon Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
    • Aegis Lifesciences
    • Eucare Pharmaceuticals (P) Ltd.
    • Baxter International
    • Axio BioSolutions Private Limited
    •  Mil Laboratories

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product Form
      • Market Snippet, By Product Base
      • Market Snippet, By Application
      • Market Snippet, By End User
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Key Developments
    • Technological Advancement
    • Regulatory Scenario
  4. India Hemostat Market, By Product Form, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Mechanical
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
    • Flowable
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
      • Segment Trends
  5. India Hemostat Market, By Product Base, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Gelatin
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Cellulose
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  6. India Hemostat Market, By Application, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Surgeries
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Trauma Cases
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  7. India Hemostat Market, By End User, 2019 – 2027 (US$ Mn)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2017–2027
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Ambulatory Surgical Centers
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
    • Cardiac Catheterization Laboratories
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
  8. Competitive Landscape
    • Company Profiles
      • Ethicon Inc.
        • Company Overview
        • Product Form Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Aegis Lifesciences
        • Company Overview
        • Product Form Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Eucare Pharmaceuticals (P) Ltd.
        • Company Overview
        • Product Form Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Baxter International
        • Company Overview
        • Product Form Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Axio BioSolutions Private Limited
        • Company Overview
        • Product Form Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
      • Mil Laboratories
        • Company Overview
        • Product Form Portfolio
        • Key Developments
        • Financial Performance
        • Strategies
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 22 market data tables and 20 figures on “Hemostat Market – India forecast to 2027.

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