Hemostasis & Tissue Sealing Agents Market Analysis | CMI

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HEMOSTASIS TISSUE SEALING AGENTS MARKET ANALYSIS

• Hemostasis Tissue Sealing Agents Market, by
  Product Type (Topical Hemostats Adhesives
  Tissue Sealing Agents), by End User (Hospitals,
  Ambulatory Surgical Centers Home Care Settings)
  and by Region - Global Industry Insights and
  Forecast to 2025
• The global hemostasis tissue sealing agents
  market was valued at US 3,236.2 million in 2017
  and is expected to witness a robust CAGR of 8.1
  over the forecast period (20172025).

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Figure 1. Global Hemostasis Tissue Sealing
Agents Market Value (US Mn), by Region, 2017
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Market Drivers

• Rising number of surgical procedures coupled with
  increasing trauma cases to foster global
  Hemostasis Tissue Sealing Agents Market
• Factors such as increasing number of surgical
  procedures as well as rising number of road
  accidents are expected to significantly
  contribute to growth of the hemostasis and tissue
  sealing agents market. For instance, according to
  Health and Social Care Information Centre
  (HSCIC), surgery is one of the most important
  treatments offered by NHS care in the U.K., and
  accounted for 4.7 million admissions across
  multiple sectors in 2013-14. The data also
  suggests that the number of surgical procedures
  has increased by 27 between 2004 and 2014.
  According to Centers of Disease Control and
  Prevention (CDC), around 200,000 deaths were
  encountered in 2014, due to trauma injuries in
  the U.S. Increasing incidence of road accidents
  has led to traumatic sport injuries is a major
  factor fueling demand for hemostats, thereby
  driving the market growth. According to the World
  Health Organization 2016, over 50 affected in
  road traffic accidents were admitted in the
  hospitals and underwent trauma surgeries.
  Hemostats are used in trauma surgeries and also
  in various conventional surgeries such as hernia
  repair surgery, orthopedic, open heart and
  cardiovascular surgeries, and neurosurgery that
  involve significant blood loss, due to larger
  size incisions made on the body of the patient.
  According to the annual report of American Joint
  Replacement Registry (AJRR), 2016, a total of
  427,181 procedures were reported for joint
  replacement surgeries. However, lack of favorable
  reimbursement policies for failure of hemostats
  in blood loss control as well as increasing cost
  of surgical procedures is expected to hinder the
  market growth.

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• North America to dominate global hemostasis
  tissue sealing agents owing to incorporation of
  newer technologies in new products and extensive
  research development for the same
• In terms of region, North America is the dominant
  in the global hemostasis tissue sealing agents
  market. This is attributed to rapid development
  and launch of novel tissue sealing compounds and
  products by key players in the market in the
  region. For instance, in March 2018, BodeVet,
  Inc., a blood-related products company,
  introduced StablePlate RX Canine as the worlds
  first injectable freeze dried platelet derived
  product used for the treatment of acute
  uncontrolled hemorrhage in bleeding patients. In
  December 2012, Ethicon, Inc., a company offering
  hemostasis and sealing solutions, received U.S.
  FDA approval for EVARREST Fibrin Sealant patch
  that rapidly and reliably aids in stopping
  problematic bleeding during surgery.
• On the other hand, Asia Pacific is expected to
  exhibit high growth over the forecast period,
  owing to rising number of surgical procedures as
  a result of increasing medical tourism in
  emerging economies such as China, Singapore, and
  India. For instance, according to an article
  published by OrthoStreams, a privately held
  orthopedic devices company, orthopedic surgeries
  in China and other emerging economies are 75
  cost effective as compared procedures performed
  in the U.S. Additionally, rising number of road
  accidents in Asia Pacific region leading to
  trauma admissions in emergency departments also
  contributes to the growth of the market in the
  region over the forecast period. According to the
  Ministry of Road Transport and Highways,
  Government of India, the total number of persons
  injured in road accidents in 2015 are 500,279.
  These are expected to aid in growth of the
  market.

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• Market players are launching innovative products
  to sustain their position in the global
  hemostasis tissue sealing agents market
• Key players in the market are focused on
  expansion of their presence through launch of new
  product lines in emerging economies. For
  instance, in March 2018, Baxter International,
  Inc. completed acquisition of two hemostat
  products from Mallinckrodt Plc and announced to
  widen its customer base through launch of
  RECOTHORM and PREVELEAK hemostat sealant in
  Japan. Moreover, players are also focusing on
  offering innovative products, in order to enhance
  their market share. For instance, in January
  2018, Ethicon LLC, a part of Johnson Johnson
  Medical Devices Companies, introduced SURGICEL
  powdered absorbable hemostat that assists to
  combat disruptive bleeding on broad and oozing
  surfaces.

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Key Players

• Key players operating the global hemostasis
  tissue sealing agents market include Cryolife,
  Inc. Baxter International, Inc., Ethicon LLC,
  Integra Lifesciences Corporation, Becton,
  Dickinson Company, Cohera Medical, Inc.,
  Pfizer, Inc., Medtronic plc, B. Braun Melsungen
  AG, MIL Laboratories Pvt. Ltd, Advanced Medical
  Solutions Group Plc, and others.

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