Global hemostasis products market is expected to reach USD 6.70 billion by 2021, growing at a CAGR of around 4.0% between 2016 and 2021.
Sarasota, FL -- (SBWIRE) -- 03/14/2017 -- Zion Market Research has published a new report titled "Hemostasis Products Market (Topical Hemostasis, Infusible Hemostasis, and Advanced Hemostasis) for Trauma, Surgery, Hemophilia, Myocardial Infarction, Stroke, and Thrombosis Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 - 2021". According to the report, the global hemostasis products market was valued at approximately USD 5.30 billion in 2015 and is expected to reach approximately USD 6.70 billion by 2021, growing at a CAGR of around 4.0% between 2016 and 2021.
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Hemostasis is a process which helps to cease the bleeding and keep blood within a damaged blood vessel. Hemostasis products are medical products used to stop bleeding and hemorrhage caused by injuries and surgical procedures. These products vary based on their mechanism of action, ease of application, composition, immunogenicity, adherence to tissue, and cost.
The hemostasis product market is anticipated to witness noticeable growth over the next six years on account of growing demand supported by rising surgery volumes. Moreover, rapid growth in geriatric population base and rising prevalence of chronic conditions are other impacts rendering drivers of hemostasis product market. According to the CDC statistics, more than 45% of the American population suffers from at least one chronic condition requiring important care. However, slow adoption of advanced hemostasis instruments in emerging economies and the high cost of devices may curb the market growth in the near future.
Nonetheless, emerging market in developing countries is expected to open up new growth avenues within the forecast period. Some of the key product in this market includes topical hemostasis, infusible hemostasis, and advanced hemostasis. The topical hemostats are further classified into collagen, oxidized regenerated cellulose, gelatin, and polysaccharide. Infusible hemostasis includes platelet concentrates from donor blood, FVIII derived from blood, fresh frozen plasma, and prothrombin complex. Topical hemostats were the leading segment and it accounted for significant share of total revenue generated in 2015. Topical hemostats are generally used in adjunction with conventional treatment to provide minimal tissue reactivity, quick and easy absorbability of the hemostatic agent, non-antigenicity, and cost-efficiency. Infusible hemostasis and advanced hemostasis are expected to witness exponential growth over the forecast period.
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Based on application, the market can be segmented into trauma, surgery, hemophilia, myocardial infarction, stroke, and thrombosis. Bleeding control is an important aim in surgery. Surgery and trauma are expected to be the fastest-growing segment. More than 80% of trauma deaths that occur in the operating room do so as a result of hemorrhage. Traumatic injury is a major global health problem, accounting for approximately 1 in 10 deaths worldwide.
North America dominated hemostasis products market and accounted for over 35% share in the global market's revenues in 2015. The region is expected to witness expansion at a substantial pace over forecast period. The rising numbers of trauma cases and complex surgeries, the growth of geriatric population and high investment is research and development is also driving the hemostasis products market in North America.
Some of the key players in the market such as Pfizer, Inc., Medtronic plc, Abbott Laboratories, Johnson & Johnson, Integra LifeSciences Corporation, HemCon Medical Technologies, Inc., Grifols, S.A., CSL Behring LLC, C. R. Bard, Inc. and Baxter International, Inc.
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This report segments the global hemostasis products market as follows:
Global Hemostasis Products Market: Product Segment Analysis
Oxidized Regenerated Cellulose
Platelet Concentrates from Donor Blood
FVIII Derived from Blood
Fresh Frozen Plasma
Global Hemostasis Products Market: Application Segment Analysis
Global Hemostasis Products Market: Regional Segment Analysis
The Middle East & Africa
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