The market for hemostasis and tissue sealing agents is being driven by technological developments in healthcare and significant investments in research & development
Seoul, Sept. 29, 2022 (GLOBE NEWSWIRE) -- 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, 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. The surgeon need to weigh the advantages and disadvantages of using these agents in comparison to standard treatment on a case-by-case basis.
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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.
Increasing Incidence of Chronic Disorders Needing Surgery
Patients who are elderly need immediate attention and are more likely to get wounds and injuries that take a long time to recover. The market is predicted to develop as a result of an increase in the number of common injuries and wounds due to a demographic trend toward an active lifestyle.
Most chronic conditions ultimately necessitate surgical procedures, which subsequently promote market growth. A few chronic illnesses that call for these goods are hernia fixation, diabetes, spinal injuries, urological disorders, ocular injuries and replacements, and burns.
These solutions were chosen over alternative wound closure techniques, which resulted in an expansion of their applications, particularly in endoscopic treatments. Endoscopic hemostatic therapy is effective for the treatment of peptic ulcers.
The market for hemostasis and tissue sealing products serves patients with everything from minor wounds to burns and neurosurgical treatment.
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.
Competitive Landscape
The leading companies in the global hemostasis and tissue sealing agents market are involved in product launches, manufacturing technologically cutting-edge solutions, acquisitions, and joint ventures with other businesses.
These tactics are probably going to help the market for tissue sealing and hemostasis agents increase around the globe.
The Terumo Corporation introduced AQUABRID, a novel surgical sealant product, to the EMEA market on January 26, 2020. Using this product during aortic surgery helps to halt bleeding.
Johnson & Johnson (Ethicon, Inc.) (U.S) dominates the market for tissue sealants and tissue glue. The company enjoys a strong regional presence and a well-known brand. It also offers a wide variety of surgical sealants and adhesives, including some of the most recognizable brands.
Segmentation of Hemostasis and Tissue Sealing Agents Industry Research
By Product :
Topical Hemostats
Adhesive & Tissue Sealants
By End User :
Hospitals
Ambulatory Surgery Centers
Home Care Settings
Others
By Region :
North America
Latin America
Europe
East Asia
South Asia & Oceania
ME
More Valuable Insightson Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global hemostasis and tissue sealing agents market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2027.
The study divulges essential insights on the market on the basis of product (topical hemostats, adhesive & tissue sealants) and end user (hospitals, ambulatory surgery centers, home care settings, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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