Growth in this market is driven by the growing volume of surgical procedures performed, rising focus on R&D, increasing incidence of sports-related injuries and spinal ailments, and rising focus on effective blood loss management in patients during surgeries. However, side effects and allergic reactions associated with hemostats are expected to hamper the adoption of these products.
The COVID-19 outbreak has significantly impacted the availability of hospital resources worldwide. This has been primarily managed by dramatically reducing inpatient and outpatient services for other diseases and implementing infection prevention and control measures. the number of surgical procedures declined precipitously, with countries worldwide being affected by the pandemic.
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Adhesion formation is a major post-surgical complication, which results in healthcare complications and generally requires repeat surgeries for the treatment of affected patients. Post-surgical adhesion formation leads to different complications in different surgeries, such as severe abdominal pain in the case of abdominal surgeries, infertility in women after gynecological surgeries, and physical impairment of patients after neurological surgeries.
According to WHO estimations (2019), approximately 235 million major surgical procedures are undertaken worldwide every year. This is attributed to the growing prevalence of obesity and other lifestyle diseases, the rising geriatric population, the increasing prevalence of orthopedic conditions, and the increasing incidence of spinal and sports-related injuries.
According to the Heart and Circulatory Disease Statistics 2019 from the British Heart Foundation (UK), there has been a significant increase in the number of cardiac surgical procedures such as angioplasty and aortic valve replacement in the UK over the last decade, and this trend is expected to continue in the coming years.
The major players in the Hemostats market are C.R. Bard (US), Baxter (US), Teleflex Incorporated (US), Ethicon (Subsidiary of Johnson & Johnson) ( US), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Pfizer (US), etc.
Growth in this market is driven by the growing volume of surgical procedures performed, rising focus on R, increasing incidence of sports-related injuries and spinal ailments, and rising focus on effective blood loss management in patients during surgeries.
COVID -19 Impact on the Hemostats MarketWith the WHO officially declaring the outbreak of COVID-19 a pandemic, a mix of established pharmaceutical and biopharmaceutical companies and small startups has stepped forward to develop treatments and vaccines that target the infection caused by the novel coronavirus.
This has been primarily managed by dramatically reducing inpatient and outpatient services for other diseases and implementing infection prevention and control measures.
the number of surgical procedures declined precipitously, with countries worldwide being affected by the pandemic.
Post-surgical adhesion formation leads to different complications in different surgeries, such as severe abdominal pain in the case of abdominal surgeries, infertility in women after gynecological surgeries, and physical impairment of patients after neurological surgeries.
This is attributed to the growing prevalence of obesity and other lifestyle diseases, the rising geriatric population, the increasing prevalence of orthopedic conditions, and the increasing incidence of spinal and sports-related injuries.According to the Heart and Circulatory Disease Statistics 2019 from the British Heart Foundation (UK), there has been a significant increase in the number of cardiac surgical procedures such as angioplasty and aortic valve replacement in the UK over the last decade, and this trend is expected to continue in the coming years.
The global hemostats market size is anticipated to USD 5.44 billion by the end of 2025.
The growth of this region is accountable for the increasing incidences of sports-related injuries worldwide.
A hemostat is a surgical tool used for controlling the flow of blood at the time of performing operations.
According to a recent report by Fortune Business Insights titled, “Hemostats Market Size, Share & Industry Analysis, By Product Type (Active Hemostats, Passive Hemostats, Combination Hemostats, Others), By Application (Trauma, Cardiovascular Surgery, General Surgery, Plastic Surgery, Orthopedic Surgery, Neurosurgery, Others), By End, User (Hospitals, Ambulatory Surgical Centers, Tactical Combat Casualty Care Centers, Others) and Regional Forecast, 2018-2025,” the value of this market was USD 3.33 billion in 2017 and is expected to exhibit a CAGR of 6.4% between 2018 and 2025.For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/hemostatic-agents-market-100084Fortune Business Insights™ lists out the names of market manufacturers.
We understand that this health crisis has brought an unprecedented impact on businesses across industries.
Rising support from governments and several companies can help in the fight against this highly contagious disease.
The report "Hemostats Market by Product (Thrombin, Oxidised Regenerated Cellulose, Combination, Gelatin, Collagen), Application (Gynecology, Neurology, Cardiovascular, Reconstructive), Formulation (Powder, Matrix & Gel, Sheets & Pads) - Global Forecast to 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%.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.On the other hand, high cost of hemostats and dearth of skilled professionals are expected to hinder the growth of this market.Download a PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9571619The thrombin-based hemostats segment is expected to account for the largest share of the market in 2018.
Based on product, the hemostats market is segmented into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, combination hemostats, gelatin-based hemostats, and collagen-based hemostats.
Of all these product segments, the thrombin-based hemostats segment is expected to account for the largest share of the global hemostats market in 2018.In 2018, the orthopedic surgery segment is expected to dominate the hemostats market On the basis of application, the hemostats market is segmented neurological surgery, cardiovascular surgery, general surgery, orthopedic surgery, gynecological surgery, reconstructive surgery, and other surgeries.
The orthopedic surgery segment is expected to account for the largest share of the hemostats market in 2018.In 2018, North America to command for the largest market share On the basis of region, the hemostats market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
In 2018, North America is expected to account for the largest share of the global hemostats market.
