The Hemostats Market was valued at $2.6 Bn in 2022 and is expected to reach $4.11 Bn by 2030 and grow at a CAGR of 5.9% during the forecast period of 2023-2030.

The hemostats market is witnessing significant growth due to the rising prevalence of chronic diseases and increasing surgical procedures worldwide. Hemostats are medical devices used to control bleeding during surgeries or in cases of traumatic injuries. They play a crucial role in preventing excessive blood loss, reducing the risk of complications, and improving patient outcomes.

One of the key factors driving the growth of the hemostats market is the increasing number of surgeries performed globally. With advancements in healthcare infrastructure and growing awareness about early disease diagnosis, there has been a surge in surgical interventions across various specialties such as cardiovascular, orthopedic, general surgery, and neurosurgery. This has created a substantial demand for hemostatic agents that can effectively control bleeding and minimize post-operative complications.

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Moreover, the rising geriatric population is also contributing to the expansion of the hemostats market. Elderly individuals are more prone to chronic diseases and require surgical interventions for their management. As this demographic group continues to grow globally, there will be an increased need for hemostatic agents to address their specific needs and minimize the risks associated with surgical procedures. Additionally, advancements in medical technology have led to the development of innovative hemostatic agents that offer improved efficacy and safety profiles. Furthermore, the increasing prevalence of complex surgeries, such as cardiovascular and orthopedic procedures, has further fueled the demand for effective hemostatic agents. These procedures often involve extensive tissue manipulation and carry a higher risk of bleeding complications. Hemostatic agents play a crucial role in ensuring successful surgical outcomes by providing rapid and reliable hemostasis. Moreover, the growing awareness among healthcare professionals about the benefits of using hemostatic agents has also contributed to the market expansion. The ability of these agents to reduce surgical time, minimize blood loss, and enhance patient recovery has made them an integral part of modern surgical practices. In conclusion, the combination of factors such as the rising geriatric population, advancements in medical technology, and the increasing prevalence of complex surgeries has created a significant demand for hemostatic agents. The market is expected to continue its growth trajectory as healthcare providers prioritize patient safety and strive for better surgical outcomes.

KEY MARKET SEGMENTS

By Type

·         Thrombin- based hemostats

·         Gelatin-Based hemostats

·         Collagen-Based hemostats

·         Combination hemostats

·         Other

By Formulation

·         Matrix & Gel Hemostats

·         Sheet & Pad hemostats

·         Powder Hemostats

·         Sponge Hemostats

By Application

·         Orthopedic Surgery

·         General surgery

·         Neurological surgery

·         Cardiovascular Surgery

·         Others

Major Players Listed in the Report are as Follows:

C.R Bard, Baxter, Teleflex Incorporated, Ethicon, Medtronic Plc, Pfizer, B Braun Melsungen AG, and others.

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