Hemostatic Agents Market to Exhibit 6.4% CAGR, Increasing Geriatric Population to Enable Growth

The global hemostatic agents market to gain from increasing number of surgical procedures conducted worldwide. As per the report, in 2017 the global hemostatic agents market was worth US$ 3339.4 Mn. The global market is anticipated to expand at a CAGR of 6.4% and reach US$ 5441.5 Mn by the end of 2025.

The report classifies the global hemostatic agents market in terms of various segments and offers a comprehensive overview. According to the report the hemostatic agents market in North America was valued at US$ 1173 Mn in 2017. The North America market was leading at a global sphere in the same year.

According to the report, the trend is unlikely to change during the forecast period 2018-2025. Growth the market witnessed in North America is attributable to the increasing demand for surgical procedure in the region. Besides this, as per a research conducted by the American College of Obstetricians and Gynecologist, in the U.S. the rate of postpartum hemorrhage increased by 25.9% approximately during the last decade. This is likely to fuel the demand for hemostatic agents for surgery and other purposes.

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Combination Hemostats to Dominate the Global Market

In terms of product type, the combination hemostats segment accounted for 14% of the global market in 2017. Combination hemostats are proven to be very effective and offer faster healing. Combination hemostats are capable of offering efficient hemostasis in shorter time owing to rapid action of thrombin and gelatin. Rising adoption of combination hemostats is anticipated to drive the global hemostatic agents market during the forecast period 2018-2025.

The factors expected to drive the global hemostatic agents market are increasing incidence of hemorrhage during surgery and rising emphasis on blood management. Moreover, innovations in surgical procedure such as robot assisted surgery and rising geriatric population are anticipated to fuel the demand in global hemostatic agents market.

Baxter Widening its Distribution Network Across Regions

Baxter emerged dominant in the global hemostatic agents market in 2017. The growth witnessed is attributable to its diversification strategy implemented to improve the accessibility of its brands. The trend is unlikely to change and Baxter may continue to dominate the global market during forecast period.

Strong brand presence, diversified product portfolio, and intense R&D conducted on hemostatic agents are a few factor contributing to Baster’s expansion. Some of the other companies operating in the global hemostatic agents market are Stryker, CryoLife Inc., Integra Life Sciences, BD, Ethicon LLC., Pfizer Inc., Medtronic, and Biom’up.

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RESEARCH METHODOLOGY:

Fortune Business Insights follows a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.

Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

SECONDARY DATA SOURCES THAT WE REFER TO:

Annual reports, investor presentation, SEC filings, and press releases of companies operating in the market
Studies published by relevant associations MedTech Europe; American College of Radiology; Cancer Council Australia; Japan Hospital Association, etc.), government sources (Centers for Disease Control & Prevention, Ministry of Health, Labour & Welfare, Japan; National Health Service, England, etc.), international organizations (World Health Organization, The Organization for Economic Co-operation and Development, Eurostat, etc.), and articles published by Research Gate, NCBI, etc.

Website, reports, and press releases of end user facilities – Hospitals, Ambulatory Surgery Centres, Clinics
Industry journals and paid databases

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