Hemostasis Products Market to Reach a Value of US$7.73 bn by 2024

The global hemostasis products market is fairly consolidated with top four companies, namely Ethicon, Baxter International Inc., Pfizer Inc., amd CR Bard Inc. holding close to 41% share in the overall market in 2015, as per a recent report by Transparency Market Research (TMR). In a seemingly fragmented vendor landscape, small and medium-sized vendors held over 59% of the overall market in 2015, wherein a number of companies offered non-commercial variants of several hemostasis products.

Substantial investments in research and development are some key growth strategies of leading players to expand their outreach in untapped regional markets, says the lead analyst of the study.Some other prominent companies in the global hemostasis products market include HemCon Medical Technologies Inc., Grifols S.A., Johnson & Johnson, Medtronic plc, Abbott Laboratories, CSL Behring LLC, and Integra LifeSciences Corporation.

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As per estimates of the TMR report, the global hemostasis products market will display a healthy CAGR of 4.2% between 2016 and 2024. Expanding at this rate, the market’s valuation of US$5.35 bn in 2015 will become US$7.73 bn by 2024. Among key product segments, infusible hemostats hold prominence because of its importance for bleeding management for patients suffering from blood clotting disorders such as hemophilia, dysfibrinogenemia, and Von Willebrand disease. In the coming years, however, the segment is poised to lose its attractiveness and vast share to advanced hemostats segment. Over the forecast period between 2016 and 2024, the advanced hemostats product segment is poised to expand at an impressive 6.9% CAGR.

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