Hemostats Market Size To Reach $4.24 Billion By 2030

Hemostats Market Growth & Trends

The global hemostats market size is anticipated to reach USD 4.24 billion by 2030, expanding at a CAGR of 6.76% from 2024 to 2030, based on a new report by Grand View Research, Inc. This growth can be attributed to the increasing competition among market players and rising approvals for hemostats from various regulatory authorities, such as the Food and Drug Administration (FDA). Moreover, increasing adoption of minimally invasive procedures and significant improvements in healthcare infrastructure are propelling the demand for hemostatic agents. A rising number of surgeries is a significant driving factor of market growth.

For instance, according to the American Society of Plastic Surgeons (ASPS), there were 26.2 million surgical and minimally invasive cosmetic and reconstructive procedures performed in the United States in 2022. Furthermore, an increasing volume of orthopedic, cardiovascular, and hernia repair surgeries drives the demand for hemostats. Moreover, the market is witnessing a significant boost due to the rising prevalence of chronic diseases like arthritis and osteoporosis. These conditions often necessitate surgical procedures, and patients with these diseases may have a substantial risk of bleeding during surgeries.

Hemostatic agents play a pivotal role in managing this bleeding effectively, preventing complications like hematoma formation and extended surgery times. The rising aging population contributes to market growth. The geriatric population is more prone to specific health issues, often requiring surgical procedures for effective management. As per the data from the CDC, in the U.S. the population aged 65 years & older is projected to reach 98 million by 2060. This demographic shift implies a greater need for effective hemostatic agents to control post-surgical bleeding.

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Hemostats Market Report Highlights

• In 2023, the oxidized regenerated cellulose-based hemostats segment accounted for the largest market share. This can be attributed to the superior biocompatibility of these agents, which makes them well-tolerated by the body and reduces the likelihood of causing adverse reactions or tissue irritation

• The matrix & gel hemostats segment dominated the market in 2023. Matrix & gel hemostats offer ease of use, efficient clotting & wound-sealing capabilities, and versatility, which make them a preferred choice in various medical applications

• The orthopedic surgery segment led the market in 2023 due to the high frequency of orthopedic surgeries, such as knee and hip replacements, which often involve significant bleeding requiring effective hemostatic agents

• The hospitals & clinics end-use segment dominated the market in 2023 due to the high volume of surgical procedures performed in these settings. Hospitals and clinics often require a wide variety of hemostatic agents to manage bleeding in various surgical procedures

• North America held the largest revenue share in 2023 due to the presence of advanced healthcare infrastructure, major industry players, and high volume of surgical procedures performed in the U.S., especially in areas like orthopedics and cardiovascular surgeries

Hemostats Market Segmentation

Grand View Research has segmented the global hemostats market on the basis of type, formulation, application, end-use, and region:

Hemostats Type Outlook (Revenue, USD Million, 2018 - 2030)

• Thrombin Based Hemostats

• Oxidized Regenerated Cellulose Based Hemostats

• Combination Hemostats

• Others

Hemostats Formulation Outlook (Revenue, USD Million, 2018 - 2030)

• Matrix & Gel Hemostats

• Sponge Hemostats

• Powder Hemostats

• Others

Hemostats Application Outlook (Revenue, USD Million, 2018 - 2030)

• Orthopedic Surgery

• General Surgery

• Neurological Surgery

• Cardiovascular Surgery

• Others

Hemostats End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals & Clinics

• Ambulatory Surgical Centers (ASCs)

• Casualty Care Centers

• Others

Hemostats Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in Hemostats Market

• Johnson & Johnson

• CryoLife, Inc (Artivion)

• Integra LifeSciences Corporation

• Pfizer

• B. Braun Melsungen AG

• Becton, Dickinson, and Company

• Medtronic

• Baxter

• Stryker Corporation