The Hemostats Market 2023 Size Forecast to 2030 research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state of the industry, as well as predicted future growth, technological advancements, investment prospects, market economics, and financial data.
The global hemostats market size was valued at USD 3.72 billion in 2019 and is projected to reach USD 5.54 billion by 2027, exhibiting a CAGR of 6.3% during the forecast period. According to a report by the India Brand Equity Foundation (IBEF), in 2015, the number of hospitals increased to 196,312 in India, and this trend of rapid expansion is expected to persist during the forecast period. In another instance documenting the rise of surgical procedures, the American College of Cardiology (ACC), in 2014, estimated 371,000 procedures of coronary artery bypass grafting (CABG), which was undertaken in the United States. All these trends are expected to lead a surge in the demand for hemostatic agents during the forecast period. Hemostats Market Size, Share & Covid-19 Impact Analysis, By Product (Active Hemostats, Passive Hemostats, Combination Hemostats, and Others), By Application (Trauma, Cardiovascular Surgery, General Surgery, Plastic Surgery, Orthopedic Surgery, Neurosurgery and Others), By End User (Hospitals & ASCs, Tactical Combat Casualty Care Centers, and Others), and Regional Forecast, 2020-2027
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Market Growth Drivers:
The most critical driving factor of the global market is the surge in the number of surgical procedures conducted worldwide, which has provided impetus to give a strong boost to the rising incidence of bleeding complications during surgeries. In the current scenario, there is an availability of a wide range of medical instruments for the management and significant improvement in terms of the achievement of hemostasis in surgical procedures. For instance, recent estimates published by the National Center for Biotechnology Information (NCBI), states that about 60-70% of all transfused red blood cells are utilized in a surgical setting, as bleeding during surgeries is one of the most feared complications to occur in these procedures. This has led to a substantial demand for the product offerings in the global market, as many surgeons opt for the administration of these products in surgical procedures with minimal risk of bleeding complications.
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Who are the Major Hemostats Market Vendors?
- Baxter
- Integra LifeSciences Corporation
- Stryker
- CryoLife, Inc.
- Biom’up
- BD (Becton, Dickinson and Company)
- Medtronic
- Johnson & Johnson Services, Inc.
- Pfizer Inc.
- Others
Market Share Analysis:
The Market Share Analysis offers the analysis of vendors considering their contribution to the overall market. It provides the idea of its revenue generation into the overall market compared to other vendors in the space. It provides insights into how vendors are performing in terms of revenue generation and customer base compared to others. Knowing market share offers an idea of the size and competitiveness of the vendors for the base year. It reveals the market characteristics in terms of accumulation, fragmentation, dominance, and amalgamation traits.
Competitive Strategic Window:
The Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. It describes the optimal or favourable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth during a forecast period [2022 – 2029].
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