Hemostatic Agents Market – Snapshot
The global hemostatic agents market is expanding due to increasing number of surgical procedures across the globe. The global hemostatic agents market was valued at more than US$ 2.8 Bn in 2015. It is expected to expand at a compound annual growth rate (CAGR) of over 6.0% from 2018 to 2022 to reach the value of US$ 4.1 Bn by 2022. The global market is expanding at a relatively higher growth rate owing to an increase in the geriatric population, adoption of hemostatic products to curb bleeding, and rise in research and development in both developed and developing markets.
Hemostasis is a process that involves stoppage of bleeding or blood flow through a blood vessel, or hemorrhage. In hemostasis, a clot is formed at the injured area, thereby repairing the blood vessel. Hemostasis consists of primary hemostasis, secondary hemostasis, and fibrinolysis. In case of a blood vessel injury, platelets combine together to form a plug. An interaction of proteins occurs, known as clotting factors, for the formation of a fibrin mesh to hold the platelets in place. This results in the healing of the injury, while preventing blood from escaping the blood vessel. Hemostatic agents are utilized to stem blood flow via the increased promotion of clotting, thereby improving the hemostasis by accelerating the coagulation process. These agents enhance hemostasis by progressing primary hemostasis, increasing fibrin formation, or inhibiting fibrinolysis. Hemostatic agents play a vital role in the treatment or prevention of bleeding, thereby indicating their usage in various therapeutic areas. According to a study by U.S. Army Institute of Surgical Research (USAISR), the survivability rate drops to just 14% if blood loss continues and the patient goes into Stage II shock or greater.
The global hemostatic agents market has been broadly segmented based on product type, specialty / therapeutic area, size of hospitals, and region. In terms of product type, the market has been classified into active, passive, and combination products. Active agents are expected to hold a significant share of the market and are differentiated from passive hemostats by their thrombin content and due to their improved efficacy, thrombin-based hemostats, i.e. active agents, is projected to expand at a significant CAGR during the forecast period. Passive agents, also called mechanical agents, are not often used in procedures, such as spinal surgeries, in which active agents and combinations are preferred. In certain cases, passive hemostat’s “stickiness” to both instruments and tissues is an additional hindrance to its use. Therefore, the passive segment of the market is estimated to expand at a CAGR 3.43% during the forecast period. However, since they are the oldest hemostatic agents they, currently, hold a considerable market share.
Request a Sample of the Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=52779
In terms of specialty / therapeutic area, the global hemostatic agents market has been segregated into cardiology, cath lab, trauma, general surgery, OB/GYN, transplant, oncology, neurology, orthopedic, plastic surgery, dental, and others (urological surgeries, pulmonary surgeries). General surgery, cardiology, and trauma segments are expected to hold a major share of the market during the forecast period due to the increase in number of cases in these therapeutic areas. In 2015, according to CDC, in the U.S., approximately 610,000 people die due to heart disease, every year, accounting 1 in every 4 deaths, and coronary heart disease (CHD) is considered to be the most common type of heart disease, causing the death of 370,000 people per year.
In terms of size of hospitals, the global hemostatic agents market has been divided into large hospitals (500+ bed size), medium hospital (250-499 beds), and small hospitals (less than 250 beds). Large hospitals and medium hospitals segments are expected to maintain their dominance and gain market share by the end of the forecast period. Availability of well-equipped infrastructure, facilities, resources, high surgery volume, and medical professionals & care has led to their prominent share in the global market. Partnerships and network by prominent hospitals with key players in the hemostatic agents market, is also the reason for their increased market share.
In terms of region, the global hemostatic agents market has been segmented into North America, Europe, Asia Pacific, South Africa, and RoW. North America dominated the global market and is expected to maintain its dominance by the end of 2022. The market in North America is predominantly driven by rapid increase in geriatric population, rise in number of surgical procedures, and increase in patient population. Moreover, increasing number of players and products, coupled with sturdy focus on research and development, is a key factor driving the market in the U.S. The market in Asia Pacific is projected to expand at a prominent CAGR during the forecast period. Increasing population, initiatives taken by governments in healthcare, and rise in research and development activities are key factors driving the market in Asia Pacific.