Hemostats Market is Expected to Reach USD 3.03 Billion by 2023
The hemostats market is expected to reach USD 3.03 billion by 2023 from USD 2.27 billion in 2018, at a CAGR of 6.0%.
The Research report provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the Hemostats Market, along with revenue estimates & forecasts and market share analysis.
Growth in this market is driven by the increasing number of surgical procedures, growing number of regulatory approvals, increasing incidence of sports-related injuries and spinal ailments, and rising focus on effective blood loss management in patients during surgeries. In addition, the emerging markets and growth in the number of hospitals and surgical centers are expected to offer further growth opportunities for players operating in the hemostats market during the forecast period.
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Hemostats Market segmentation:
· Based on products
· Based on Applicaton
· Based on Formulation
· Based on regions
The Major Players Opearting in the Hemostats Market:
Key players in the Hemostats Market include CR Bard, Inc. (US), B. Braun Melsungen AG (Germany), Baxter International, Inc. (US), Integra LifeSciences (US), Marine Polymer Technologies, Inc. (US), Teleflex (US), Ethicon, Inc. (US), Pfizer, Inc. (US), Z-Medica LLC (US), and Gelita Medical GmbH (Germany).
Johnson & Johnson was the leading player in the global Hemostats Market. The company has a strong presence in North America, Europe, Asia, and Latin America.
Ethicon, a subsidiary of Johnson & Johnson develops, manufactures, and markets technologically innovative hemostats. The company’s broad product portfolio includes surgical snow absorbable hemostats, surgicel fibrillar absorbable hemostats, surgicel nu-knit absorbable hemostats, and surgicel powder absorbable hemostats, among other products. The company has a strong presence across the globe with direct distribution channels in key markets. A good brand image for hemostats in the market has helped the company to maintain its leading position in the market. Ethicon focuses on expanding its presence in the hemostats market through the product launches. In June 2017, the company launched SURGICEL powder, a new absorbable adjunctive hemostat.
Geographical Detailed Analysis for Hemostats Market:
North America is the largest regional segment in the Hemostats Market followed by Europe, Asia, and the Rest of the World (Row).
The hemostats market in North America is well-established, with the US being a major market in this region. Growth in the North American market is majorly driven by the growing geriatric population and increasing number of surgeries in the region.
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