The growth of this market is majorly driven by the launch of new products and favorable reimbursement scenario. However, the shift toward minimally invasive surgeries and adverse effect of hemostats are the major factors restraining the growth of this market.
The report "European Hemostats & Sealants Market by Brand (Hemopatch [Baxter], Tachosil [Takeda], Veriset [Medtronic], Avitene [C.R Bard], Sangustop [B Braun], Lyostypt [B Braun]), Country (Germany, Uk, France, Italy & Spain) - Forecast to 2027", The hemostats and sealants (focused products) market is projected to reach USD 109 million by 2027 from USD 63 million in 2019, at a CAGR of 7.0%.
The study involved four major activities to estimate the current size of the hemostats and sealants (focused brands) market. Exhaustive secondary research was conducted to collect information on the market and its different subsegments.
The next step was to validate these findings, assumptions, and sizing estimates with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Based on focused products, Tachosil is projected to register the highest growth during the forecast period
Based on focused products, the market is segmented into Tachosil, Lyostypt, Sangustop, Veriset, Avitene, and Hemopatch. Tachosil is expected to grow at the highest CAGR during the forecast period, mainly due to the increasing demand for this product among end users.
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Key questions addressed in the report:
# What are the growth opportunities in the hemostats and sealants market across major countries in Europe in the future?
# What are the key drivers and restraints in the hemostats and sealants market?
# What are the key brands in the hemostats and sealants market?
# Which are the key countries in the hemostats and sealants market?
# What are the most preferred brands amongst end users?
Hemostats help in controlling bleeding at the site of wound or performing various open surgeries. The different types of products used include thrombin-based hemostats, combination hemostats, oxidized regenerated cellulose-based hemostats, gelatin-based hemostats, and collagen-based hemostats. Of these, combination hemostats are anticipated to grow at the highest rate in Europe, as they reduce the risk of side-effects post-application
Germany commands the largest share of the market
Based on region, the hemostats and sealants (focused products) market is segmented into Germany, the UK, France, Italy, and Spain. Germany dominates the hemostats and sealants market due to its large patient population and the favorable reimbursement scenario for the usage of hemostats.
Report Objectives:
# To define, describe, and forecast the European hemostats and sealants market (by value) on the basis of focused brand and country
# To identify micromarkets and the drivers, restraints, industry-specific challenges, opportunities, and trends affecting the growth of the focused brands market.
# To profile focused brands and comprehensively analyze their market shares in focused European countries.
Key players operating in the hemostats and sealants (focused products) market include B. Braun (Germany), Medtronic (Ireland), C. R. Bard (US), Takeda (Japan), and Baxter (US).
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The market for hemostats and sealants is anticipated to grow mainly due to the launch of the new products, M&A’s, and favorable reimbursement scenario in Europe. However, the increasing preference for minimally invasive surgeries and the reducing preference for the usage of hemostats while performing surgeries are expected to hinder the growth of this market during the forecast year. Leading players operating in this market are Ethicon (J&J), Baxter, Pfizer, Baxter, C. R. Bard, and B. Braun.
European Hemostats & Sealants Market is Expecting Huge Revenue Growth in Near Future
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The advent of batteries has facilitated the portability of several devices and limited the usage of wired connections.
Lithium-ion battery was first invented by John Goodenough in 1980, and since its emergence, it has become an integral part of technological developments in various fields.
Rechargeable lithium-ion batteries have brought a technological revolution in various applications starting from high-powered energy storage devices and electric buses to handheld electronic devices.
Since the last 40 years of this innovation, lithium-ion batteries have been used in a varied range of products such as electric vehicles, mobile phones, laptops, and power tools.The staggering adoption of lithium-ion batteries portrays that it may continue being a prominent source of clean energy, at least till the next decade, especially in the electro mobility field.
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