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PORTLAND, ID, UNITED STATES, January 6, 2025 /EINPresswire / -- Control of excessive bleeding during surgery is a difficult but important task. Products called hemostats can be placed on a bleeding sites during surgery to help the body's own processes for clotting. It is used during early phases of surgery for an initial incision that closes blood vessels until ligation. Hemostats are look like rings scissors. Frequently hemostatic forceps have a locking mechanism called a ratchet, which is used for clamping. Hemostats such as absorbable gelatin sponge, collagen hemostat, and oxidized cellulose are commercially available.
According to the report published by Allied Market Research, the global hemostats market generated $2.8 billion in 2021, and is projected to reach $4.7 billion by 2031, witnessing a CAGR of 5.3% from 2022 to 2031.
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Increase in number of product approvals notably contribute toward the growth of the global market. For instance, in July 2021, Baxter acquired PerClot Polysaccharide hemostatic system from CryoLife. This acquisition marks Baxter's entry into the attractive global hemostatic powder segment, broadening its portfolio offering to include a wide range of active and passive hemostatic solutions. In addition, in December 2020, Teleflex completed the acquisition of Z-Medica, LLC, an industry leading manufacturer of hemostatic products. Thus, rise in number of acquisitions boosts the growth of the hemostats market. In addition, surge in incidence of sports-related injuries spinal aliments is a key factor that fuels growth of the global market.
The report offers detailed segmentation of the global hemostats market based on type, formulation, application, and region.
Based on type, the thrombin based hemostats segment was the largest in 2021, holding nearly one-fourth of the total market. However, the combination hemostats segment is estimated to register the highest CAGR of 6.6% from 2022 to 2031.
Based on formulation, the matrix and gel hemostats segment was the largest in 2021, grabbing more than one-fourth of the global market. However, the sheet and pad hemostats segment is projected to register the highest CAGR of 6.4% in 2031.
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Based on region, North America contributed to more than two-fifths of the total market share in 2021 and is estimated to continue its dominancy through 2031. However, Asia-Pacific is projected to manifest the fastest CAGR of 7.1% during the forecast period. The other regions analyzed in the report are Europe and LAMEA.
Leading players of the global hemostats market analyzed in the research include Baxter International Inc., B.Braun Melsungen AG, Becton Dickinson and Company, Hemostatis LLC, Integra Life Sciences Holding Corporation, Johnson and Johnson, Medtronic Plc, Pfizer Inc., Stryker Corporation, and Teleflex Incorporated.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.