Hemostats And Tissue Sealants Market By Product Type (Hemostat And Tissue Sealants), By End User (Hospitals, Ambulatory Surgical Centers, And Others), And By Region – Global Forecast To 2026
26th March 2018
The global hemostats and tissue sealants market is expected to value at over US$ 3 Bn in 2019 and is expected to register a CAGR of 8.7% over the forecast period. The global hemostats and tissue sealants market report has been segmented on the basis of product type, end user, and region.
Global Hemostats and Tissue Sealants Market: Overview
Hemostat is a surgical tool used in surgical procedures to control bleeding. Hemostats belong to group of instruments that are similar to scissors with needle holders, tissue holders, and various clamps. Hemostats consist of locking mechanism that allow user to adjust the clamping force of the pliers. Tissue sealants is a substance used to bind and close defects in tissue. Tissue sealants are used during surgeries for various purpose such as to control bleeding in the area where the surgeon is operating, to speed-up wound healing, to provide slow-release delivery of medications to tissues exposed during surgery, and to seal-off hollow body organs or cover holes made by standard sutures.
Global Hemostats and Tissue Sealants Market: Dynamics
Increasing number of surgeries such as pulmonary, cardiac, neurosurgery, orthopaedic, etc., and continuous technological advancements of hemostats products and tissue sealants are major factors driving demand for hemostats and tissue sealants. This in turn is driving growth of the global hemostats and tissue sealants market. In addition, use of hemostats products and tissue sealants minimize the chances of infections and other possible risks during surgeries and also ensure rapid recovery of wound. These are some of the other major factors projected to propel growth of the global market over the forecast period.
However, high costs associated with research and development of hemostats and tissue sealants is a major factor hampering growth of the global market. Additionally, availability of substitute products such as surgical staplers and surgical zips is another factor expected to limit growth of the global hemostats and tissue sealants market over the forecast period to a certain extent.
A major and rising trend observed in the global market is increasing use of fibrin sealants particularly in myocardial infarction (MI) surgical procedures. This trend is expected to gain traction in the years to come and support growth of the global hemostats and tissue sealants market over the forecast period.
Global Hemostats and Tissue Sealants Market Segment Analysis:
Analysis by Product Type:
Among the product type segments, the hemostats segment is estimated to account for major revenue share in the global market and is projected to register the highest CAGR of over 8.6% in the global market over the forecast period. This can be attributed to increasing use of hemostats as they minimize post-operative infections.
Moreover, the active hemostats sub-segment is anticipated to register highest CAGR as compared to the other sub-segments. This can be attributed to growing awareness about benefits of active hemostats such as reduced time of surgeries.
Analysis by End User:
Among the end user segments, the hospitals segment accounted for highest revenue share in the global hemostats and tissue sealants market in 2016, and is expected to register the highest CAGR of around 8.5% over the forecast period. It is further projected to maintain major revenue contribution over the forecast period, owing to hospitals being the first-line solutions for surgeries, especially in developing economies, and increasing number of hospitals across the globe.
The ambulatory surgical centers (ASCs) segment is projected to account for second-highest revenue share contribution in the global market, and register considerable CAGR the forecast period. This can be attributed to increasing number of ASCs in developing economies, coupled with presence of professionals that are capable of handling open surgery procedures.
Revenue from the others segment is anticipated to grow at a moderate rate over the forecast period, and the segment is projected to register moderate CAGR over the forecast period.
Analysis by Region:
The market in North America dominated in the global hemostats and tissue sealants market with major revenue share in 2017, and is projected to continue with its dominance over the next 10 years. North America market is expected to register second-highest CAGR in the global hemostats and tissue sealants market over the forecast period. This can be attributed to presence of advanced healthcare facilities, growing demand for minimally invasive surgeries, and increasing number of outpatient surgical facilities in countries in the region.
Moreover, increasing number of product approvals by the USFDA for use of products in open surgeries is another factor anticipated to propel adoption of hemostats and tissue sealants in countries in North America. The market in the US is anticipated to benefit the most from these approvals as penetration of advanced products is highest in the country and there is significant presence of major healthcare facilities in the country.
The Europe market for hemostats and tissue sealants is expected to account for second-highest revenue share in the global market. This is attributed to increasing adoption of hemostats and tissue sealants for surgical procedures and presence of prominent players in countries in the region.
The market in Asia Pacific is projected to register highest CAGR of around 8.7% over the forecast period. Increasing number of government initiatives for development of healthcare facilities in emerging economies such as China, Japan, and India, and increasing adoption of hemostats and tissue sealants for wound closure are key factors expected to propel growth of the Asia Pacific market over the forecast period.
Moreover, markets in Latin America and Middle East & Africa are projected to register moderate growth over the forecast period, due to increasing number of advanced healthcare facilities in the region, increasing medical tourism, and prevalence of various chronic diseases and disorders leading to rising number of surgeries.
Global Hemostats and Tissue Sealants Market Segmentation:
Market Segmentation, by Product Type:
- Active hemostats
- Mechanical hemostats
- Flowable hemostats
- Tissue Sealants
- Fibrin Sealants
- Synthetic Sealants
Market Segmentation, by End User:
- Ambulatory Surgical Centers
Market Segmentation, by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Advanced Medical Solutions Group plc
- Baxter International Inc.
- R. Bard, Inc.
- CryoLife, Inc.
- Integra LifeSciences Holdings Corporation
- Johnson & Johnson
- Stryker Corporation
- Braun Melsungen AG
- Vivostat A/S
- HyperBranch Medical Technology, Inc
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.0 Chapter 2
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.1.2 Opportunity Map Analysis
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Product Type
- 2.2.2 Market Snapshot, By End User
- 2.2.3 Market Snapshot, By Region
- 2.1 Report Description
- 3.0 Chapter 3
- 1.0 Chapter 1
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