The global Hemostasis & Tissue Sealing Agents Market, by Product Type (Topical Hemostats & Adhesives & Tissue Sealing Agents), by End User (Hospitals, Ambulatory Surgical Centers & Home Care Settings), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 3,236.2 million in 2016 and is projected to exhibit a CAGR of 8.1% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. Hemostasis & tissue sealing agents market is expected to gain significant traction over the forecast period, owing to rising number of surgeries coupled with increasing number of trauma cases. According to the Centers of Disease Control and Prevention, in 2010, 51.4 million surgical inpatient procedures were performed in the U.S.
Increasing number of trauma cases and emergency department admissions is expected to foster growth of the hemostasis & tissue sealing agents market
Trauma injury is one of the leading factors for hospital admissions and disability globally. According to a statistical survey conducted by Department of Population Health, New York University School of Medicine 2011, the inpatient database represented 20,659,684 traumatic injury discharges from the U.S.-based hospitals between 2000 and 2011. Trauma injury management involves critical operations, which requires controlling blood loss by application of topical hemostats or tissue sealing agents. Moreover, according to the Healthcare Cost and Utilization Project 2014, there were 138.7 million emergency department (ED) visits in the U.S., which accounts for up to 432 patients per 1,000 population. Rising number of trauma patients is expected to augment demand for hemostats and tissue sealing agents. On the other hand, introduction of novel and innovative products by key players in the market is also expected to support the market growth. For instance, an Indian medical device maker, Axio Biosolutions became the first manufacturer from India to market a hemostat product in the U.S. post FDA approval. The US FDA granted a 510(k) clearance to Axiostat chitosan hemostatic dressing in March 2018, to stop excessive external bleeding.
Browse 34 Market Data Tables and 38 Figures spread through 150 Pages and in-depth TOC on “Hemostasis & Tissue Sealing Agents Market”- by Product Type (Topical Hemostats & Adhesives & Tissue Sealing Agents), by End User (Hospitals, Ambulatory Surgical Centers & Home Care Settings) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2025
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Hemostasis and tissue sealing agents market is expected to exhibit high growth, owing to increasing new product launches by key players. For instance, in June 2017, Ethicon LLC—a subsidiary of Johnson & Johnson—received FDA approval for Surgicel powder absorbable hemostat comprising oxidized regenerated cellulose. In 2016, Cohera Medical, Inc. launched a product for surgical adhesive TissuGlu, and it comprises tissue layers, where subcutaneous dead space exists between the tissue planes in abdominoplasty. Moreover, market players are also focusing on strategic merger and acquisitions to retain their dominance in the global market by expanding their product portfolio. For instance, Baxter International, Inc. completed acquisition of two hemostat and sealant products from Mallinckrodt Plc, to widen its surgical portfolio of hemostats and tissue sealing agents.
Key Takeaways of the Global Hemostasis & Tissue Sealing Agents Market:
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