Pune, India -- (SBWIRE) -- 02/02/2018 -- The report Hemostats and Tissue Sealants Market by product type (hemostats [Flowable hemostats, Mechanical hemostats, Active hemostats] and tissue sealants [synthetic sealants, fibrin sealants and other natural sealants]) - Global Industry Analysis, Trends analysis and Forecast up to 2023 studies the world as well as regional markets including North America, Europe, Asia Pacific and RoW (Including Latin America, Middle East and Africa), The Hemostats and Tissue Sealants market is expected to grow at a CAGR of 8.71% over the period of 2018 to 2024. Factors driving the growth of this market include rising number of surgeries, focus on fast recovery of the patients and increased availability of the medical professionals worldwide, however regulatory hurdles and low effectiveness of hemostats and tissue sealing in some cases are key restraining factors affecting the growth of the global hemostats and tissue sealing market over the forecast period.

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Development of new hemostats and tissues sealants to be a key trend in the hemostats and tissue sealants market

The companies operating in the global hemostats and tissues sealants market have been engaged in developing new hemostats and tissue sealants. The development of new tissue sealants is aimed at minimizing the cases of contamination and side effects associated with the tissue sealing. Companies such as Novartis and Baxter are engaged in developing the new tissue sealants to be more competitive.

Fibrin sealants to account for largest share of revenue generated in tissue sealants market

Tissue sealant segment covers sub segments such as synthetic sealants, fibrin sealants, and other natural sealants. The fibrin sealants segment accounted for over 80% of the revenue generated from the tissue sealants market worldwide. Fibrin sealants help in reducing clotting time and blood loss during the surgical procedures. Moreover these prevent risk of infections and aid in would healing process. The US FDA has approved fibrin sealants as broad level hemostats for surgical procedures.

Hemostats and Tissue Sealants Market by product type (hemostats [Flowable hemostats, Mechanical hemostats, Active hemostats] and tissue sealants [synthetic sealants, fibrin sealants and other natural sealants]) - Global Industry Analysis, Trends analysis and Forecast up to 2023

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Americas followed by Europe region is estimated to command the largest share of the market

Based on region, the Hemostats and Tissue Sealants market is segmented into Americas, Europe, Asia, and the Rest of the World (RoW). Americas region accounted for the largest share of market both in terms of revenue due to significant growth from the markets of the U.S. and South America such as Brazil and Mexico. Furthermore, the Asia Pacific Hemostats and Tissue Sealants market projected to grow at higher CAGR than other regional markets owing to rising consumer awareness as well as rapidly aging population in the economies such as Japan and China.

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Companies Profiled:

The global hemostats and tissue sealants market is highly fragmented and features presence of several large and small companies operating internationally and domestically. The report profiles some of the key companies in the Hemostats and Tissue Sealants market including Abbott Laboratories, Advanced Medical Solutions Group, Plc., 3M, ADCO Global, Inc., Dymax Corporation, Johnson & Johnson (Ethicon) and  Baxter.

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