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.
COVID -19 Impact on the Hemostats Market
With 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. 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.
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. Considering the severe effects of post-surgery adhesion formation in patients, the importance of products such as adhesion barriers is increasing in the market.
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.
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The demand for surgical equipment (including medical devices such as hemostats) is high in these newly established surgical centers and hospitals, owing to the increasing patient population base. For instance, in October 2020, the Prime Minister of the UK announced plans of investing USD 4.3 billion for 40 hospitals and certain schemes for future funding for 48 hospitals by 2030. In addition, in March 2021, Steward Health Care announced plans to construct a new hospital in Washington County.
Over the last decade, developing countries such as India and China have witnessed significant improvements in their respective healthcare infrastructure. According to an article published in January 2020, China announced to invest USD 4.6 billion for the construction of hospitals in Wuhan.
According to the Commonwealth Fund in 2018, China has approximately 12,000 public hospitals and 21,000 private hospitals. Similarly, in June 2019, the Indian Ministry of Health and Family Welfare announced the opening of 22 new AIIMS across the country. The significant growth in the number of hospitals and surgical centers is expected to support the growth of the hemostats market, as these are key end-users of the hemostats market.
Recent Developments:
- In 2020, Teleflex acquired Z-Medica, LLC (US), a privately held medical device company that manufactures and sells hemostatic (hemorrhage control) products marketed under the QuikClot Combat Gauze and QuikClot Control+ brand names to enhance its product portfolio.
- In 2020, Baxter announced 510(k) clearance from the US FDA for Peri-Strips Dry with Veritas Collagen Matrix product with Secure Grip. The product helps in mitigating bleeding during bariatric surgeries and other surgical procedures.
Some of the major players operating 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. In 2020, Ethicon (Subsidiary of Johnson & Johnson) ( US) held the leading position in the market.
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.
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.
For More Information, Request To Get PDF Brochure Here @ https://tinyurl.com/7mwk58ds Adhesion formation is a major post-surgical complication, which results in healthcare complications and generally requires repeat surgeries for the treatment of affected patients.
Bác sĩ chuyên về cơ xương khớp ngành chiropractic đến từ Mỹ hội tụ tại USA Chiropractic từng điều trị cho hơn 10.000 bệnh nhân thành công.
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.
