Global hemostasis and tissue sealing agents market is expected to grow significantly and is projected to grow at a CAGR of 8.6% over the forecast period. Hemostats, adhesives and sealants are useful aides to modern surgical procedures. Topical hemostats are utilized intraoperatively first and postoperatively to a reduce extent. These products can be utilized to diffuse raw surface bleeding, bone bleeding, oozing venous type bleeds, and needle-opening bleeding. There has been increasing demand for such products as it reduces complication during surgical procedures. Moreover, large number of surgical procedures across the globe are impacting the growth of the market positively. Surgical procedures are medical interventions involving an incision with instruments usually performed in an operating theatre and normally involving various medical devices such as catheters and tubes. For instance, according to the Center for Diseases Control and Prevention, approximately 46.5 million surgical procedures are performed every year in the U.S. Additionally, according to the NHS, surgery is the most important treatment offered by the NHS in secondary care within the UK.
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Furthermore, in 2015, NHS estimated that there were around 4.7 million surgical admissions in England, out of which 1.3 million procedures were for general surgery and around 1.2 million procedures were for trauma and orthopedics. These high surgical procedure numbers lead to rising need for hemostasis and tissue sealing agents which reduces the risk during surgical procedures. However, factors such as increasing advancement minimally invasive procedures, lack of reimbursement for these products is hampering the growth of the market.
Geographically, the Americas is anticipated to dominate the global hemostasis and tissue sealing agents market owing to the high clinical R&D budgets by both government as well as public and private organizations, presence of major manufacturers for the products, high number of surgical procedures and various others. For instance, according to the Center for Diseases Control and Prevention, approximately 46.5 million surgical procedures are performed every year in the U.S.
Europe is expected to hold the second largest position in the global hemostasis and tissue sealing agents market share. The Hemostasis and tissue sealing agents market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to increased medical tourism for surgical procedures, increasing healthcare expenditure in developing countries and various others. The Middle East & Africa has the lowest share of the global hemostasis and tissue sealing agents market. Majority of the market of the region is anticipated to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.
The global hemostasis and tissue sealing agents market has been segmented into product, and end user.
By product, the market has been segmented into topical hemostats, and adhesive & tissue sealant. Furthermore, topical hemostats is divided into Active, mechanical (collagen based hemostats, cellulose based hemostats, gelatin based hemostats, polysaccharide based hemostats) Flowable. Adhesive & tissue sealant is further segmented into synthetic, natural, and adhesion barrier.
Further on the basis of end user the market is bifurcated into hospitals, ambulatory centers and others
Some of the prominent players in the global hemostasis and tissue sealing agents market are Johnson & Johnson, Cryolife, Inc., Baxter International, Inc, Ethicon LLC, Integra Lifesciences Corporation, Becton, Dickinson & Company, Cohera Medical, Inc., Pfizer, Inc, Medtronic plc, B. Braun Melsungen AG, MIL Laboratories Pvt. Ltd, Advanced Medical Solutions Group Plc and others.
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