Hemostasis Products Market to Reach USD 4.5 Billion by 2034, Driven by a 5.7% CAGR | States Transparency Market Research, Inc.

With the growing number of accidental cases, the number of surgeries required is proliferating. Due to this rising number, the demand for hemostasis products is expected to increase, which will likely drive the global landscape. The rising number of chronic diseases is expected to fuel the demand for surgical interventions.

This will fuel the demand for hemostasis products to reduce blood loss during surgeries. Orthopedic disorders are expected to drive the momentum toward the global hemostasis products realm. With the rising demand in new and emerging sectors, such products will cover a wider spectrum, creating prospects for key players.

The elevation of safety features and rising precision in drug delivery systems will likely augment products in the industry. The growing field of biotechnology will also help the proliferation of the products portfolio, driving the demand for the sector. The growing research and development activities in the competitive landscape will help leading manufacturers augment products. Innovations will elevate the overall efficiency of drug delivery, increasing the demand for products.

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Hemostasis is the body's natural response to an injury that results in bleeding. This response halts the bleeding and enables the body to begin healing the wound. It is a multi-step process that causes a bleeding artery to form a plug that seals off the damaged area and stops the blood flow.  In order to achieve hemostasis, different types of inorganic materials, metal-containing compounds, synthetic polymers, and natural polymers are used. Examples of natural polymers used in the medical industry for hemostasis include chitosan, cellulose, hyaluronic acid, alginate, collagen, and fibrin.

Further, materials such as peptides, polyurethane, polyvinyl alcohol, polyethylene glycol are used to manufacture synthetic hemostatic materials. It is interesting to note that the type of hemostatic material to be used is strongly dependent on its mechanism of action. For instance, hemostatic materials in the form of hydrogels encourage clotting through thickening the blood and raising the concentration of platelets and clotting factors. These substances absorb water and then swell, creating a local compression effect.

An astounding 310 million major surgical procedures are carried out annually across the globe, with 20 million occurring in Europe and 40–50 million in the U.S. Estimations suggest that 1-4% of these patients encounter mortality, while 15-25% experience significant postoperative morbidity. Additionally, 15-25% of these patients are readmitted within 30 days of the procedure. At 15% of all trauma deaths, post-traumatic hemorrhage ranks as the second most common cause of trauma-related mortality in humans. The rising number of surgical procedures worldwide, coupled with the expanding geriatric population of the globe is poised to bolster the hemostasis products market. The recent years has witnessed the advent of a number of external hemostasis products, examples of which include QuikClot powder, advanced coagulation sponge, and combat gauze. These hemostats are developed based on materials such as kaolin and zeolite, chitosan, gelatin, alginate, collagen, and others and are known to function by promoting hemostasis through physical compression or by triggering the coagulation cascade. In this context, in November 2023, Ethicon announced that it received the CE mark for ETHIZIATM, an adjunctive hemostat solution, clinically validated to achieve sustained hemostasis in case of severe bleeding complications.

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Technological development is another crucial factor that governs the growth of the ecosystem. As mentioned before, the development of biotechnology will aid elevated features for drug delivery systems. This factor will drive the demand for hemostasis products. Government initiatives to bolster the healthcare infrastructure will benefit key players. More prospects will be generated in the industry, which can be used to expand in the industry, benefiting the market.

Key Findings from the Market Report

Regional Profile

Hemostasis Products Market Report Scope:

Competitive Landscape

With several organizations cluttering the competitive landscape, innovation is a key mode of expansion adopted in the industry.

Key Developments in the Hemostasis Products Market

Key Players

Market Segmentation

Products

Application

End User

Region

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