Global demand for hemostasis and tissue sealing agents is expected to surge ahead at a CAGR of 8.5% from 2022 to 2027 and reach a market valuation of US$ 7.6 billion by 2027, says Fact.MR, a market research and competitive intelligence provider.
The success of a patient's recovery after a urologic surgery heavily depends on blood loss management. During surgical repair, hemostatic agents and tissue sealants are widely employed in reconstruction to stop excessive blood loss. Thrombin sealants, bovine serum/albumin/glutaraldehyde, fibrin glue, and gelatin matrix are a few of the solutions that are available, with each of these agents having a unique mechanism, price, and use.
The possibilities of developing thrombosis or allergic reactions, as well as hepatitis or bovine spongiform encephalitis, are all the possible complications. Numerous new hemostatic medications are being created and approved. Surgeon need to weigh the advantages and disadvantages of using these agents in comparison to standard treatment on a case-by-case basis.
Globally, rising accident and trauma cases will fuel market expansion for hemostasis products. Demand for hemostasis and tissue sealing agents is expected to rise as more operations are conducted around the world because these products are essential for wound healing. Heart disease, stroke, cancer, and injuries are the main reasons for surgery. Also, any surgical procedure has a chance of experiencing serious problems that could lead to excessive bleeding, which would increase the need for hemostasis products.
Other prominent factors that would drive the market for hemostasis and tissue sealing agents over the coming years are high-level technological developments, robust economies, and a swarming pool of patients with a variety of blood illnesses.
Key Takeaways from Market Study
The global market for hemostasis and tissue sealing agents is currently valued at US$ 5 billion.
Global sales of topical hemostats are predicted to rise at an impressive CAGR of 9.5% from 2022 to 2027.
The China market is expected to expand at a giant CAGR of 13% and reach US$ 1.6 billion by 2027.
Due to their effectiveness in reducing bleeding during surgery, tissue sealants and tissue adhesive solutions are seeing an increase in sales.
Hemostasis and tissue sealing agents are simple to apply, very effective, and highly affordable.
“The market for hemostasis and tissue sealing agents is being driven by technological developments in healthcare and significant investments in research & development”, says a Fact.MR analyst.
Partnerships with hospitals and care facilities, R&D in formulation development, inclusion of bacteriostatic qualities, and aggressive marketing strategies for natural adhesives, particularly fibrin sealants, are some of the strategic tactics that market players are anticipated to adopt.
Additionally, businesses are engaging in mergers and acquisitions aimed at enhancing their regional presence and assuring sustainability.
Recently, in July 2021:-
Baxter International Inc. stated that its Baxter Healthcare Corporation subsidiary has finished buying some assets connected to the PerClot Polysaccharide Hemostatic System from CryoLife, Inc. The acquisition supports Baxter's acquisition strategy, which entails purchasing goods and innovations that enhance and add to the company's premier portfolio throughout the hospital, particularly in the operating/surgical theatre. With sales in more than 35 nations, PerClot has a global commercial footprint.
