Global Hemostasis Products Market to Gain Impetus from Increasing Complex Surgeries Conducted Worldwide

Hemostasis Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024


Albany, NY -- (SBWIRE) -- 11/14/2016 -- Market Research Reports Search Engine has recently announced the addition of a new market study on the global hemostasis products market to its repository. The report is titled "Hemostasis Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024" and is available for sale on the company website.

According to the report, the global hemostasis products market is projected to exhibit a CAGR of 4.2% between 2016 and 2024. Expanding at this rate, the market is forecast to reach US$7.73 bn by the end of 2024. The overall valuation of the market stood at US$5.35 bn in 2015. The global hemostasis products market is significantly benefiting from the vast research and development activities conducted in the field of the hemostasis technology. This has also resulted in the innovation of several novel products. With these products getting positively received by international and national approval agencies, the global hemostasis products market is poised to exhibit robust growth during the forecast period.

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The increases cases of trauma and complex surgeries around the world is another factor driving the market. According to the WHO, approximately 1.25 million people around the world are killed in road accidents every year. Additionally, hemorrhage or excessive bleeding is a common cause of over one-third of pre-hospital deaths. The alarming rise of geriatric population, a demographic that is highly vulnerable to chronic ailments, has also resulted in the rising demand for various complex surgeries, subsequently accelerating demand for hemostasis products across the healthcare sector.

On the flip side, stringent process that companies have to comply with for regulatory approval has created an apprehensive environment among the hemostasis product manufacturers. The long-drawn and complex approval process and several dissimilarities between regulatory policies across nations are discouraging manufacturers from introducing novel products. Factors such as these are likely to hamper the market's development in the near future. Furthermore, the market will have to deal with patent expiries of some of the blockbuster hemostasis products in the global market, which could have a negative impact on its profitability.

Nevertheless, the presence of vast untapped growth opportunities, especially across the emerging economies of Latin America and Asia Pacific. The rising base of the middle-class population, the increasing geriatric population, and the demand for effective healthcare facilities in developing nations will bolster growth of the global hemostasis products market in the near future.

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The report also profiles some of the leading companies operating in the market to provide an overview of the vendor landscape. The companies profiled in the report are HemCon Medical Technologies, Inc., Abbott Laboratories, Integra LifeSciences Corporation, Baxter International, Inc., Grifols, S.A., C. R. Bard, Inc., Johnson & Johnson, Pfizer, Inc., Medtronic plc, and CSL Behring LLC.

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