According to Future Market Insights' most recent analysis, the global Hemostatic Gels Market will be worth US$ 1 billion in 2022, with sales expected to grow at a 6.8% CAGR during the forecast period. Against this backdrop, the market will exceed US$ 1.9 billion by 2032.
The growing use of hemostatic gels during surgical procedures to manage blood loss is driving up demand for effective hemostatic gels. Furthermore, the increasing prevalence of chronic diseases necessitates the use of these gels. According to the Centers for Disease Control and Prevention (CDC), more than 45% of Americans have at least one chronic disease that necessitates surgical intervention.
Every year, approximately 2,000,000 people die from haemorrhage, with approximately 1,500,000 deaths due to trauma injuries. Similarly, nearly 60,000 people die in the United States each year as a result of haemorrhaging and blood loss. These figures demonstrate the importance of using hemostatic gels during surgical procedures in order to improve clinical outcomes.
Key Takeaways:
- Sales of porcine-based hemostatic gels are expected to grow at a 5.7% CAGR through 2032, according to product type.
- The cardiovascular surgery segment is expected to account for 33.1% of the total market share during the assessment period.
- Demand for hemostatic gels in hospitals will rise at a 5.4% CAGR during the forecast period.
- In 2021, the United States dominated the North American hemostatic gels market, accounting for 82% of the total market share.
- Over the assessment period, demand for hemostatic gels is expected to grow at a 7.4% CAGR in India.
- The hemostatic gels market in the United Kingdom is expected to grow at a 7.1% CAGR through 2032.
- China will emerge as a profitable market, with demand increasing at an 8% CAGR during the forecast period.
“Rising adoption of effective hemostatic gels for worker protection across various industries is expected to drive market demand. Furthermore, rising awareness about the use of hemostatic gels for blood loss management in emerging economies will fuel market growth,” says an FMI analyst
Competition Landscape
To increase their global presence, key players in the hemostatic gels market are implementing strategies such as product launches, mergers and acquisitions, joint ventures, and R&D activities. For instance:
- Floseal Hemostatic Matrix, a new hemostatic agent from Baxter International, Inc., was introduced in 2019. The FDA-approved Floseal Hemostatic Matrix is used to stop bleeding during surgical procedures.
- Rapid-Seal, a new class of antibacterial hemostatic gel, was launched in 2021 by Medcura, Inc. and ASO LLC. This product meets the market demand for a clear gel that can be easily applied during surgical procedures.
Read More@ https://www.futuremarketinsights.com/reports/hemostatic-gels-market
What Does the Report Cover?
In its latest study, Future Market Insights provides a unique perspective and actionable insights on the hemostatic gels market, presenting a historical demand assessment from 2017 to 2021 and projections from 2022 to 2032.
Key Market Segments Covered in Hemostatic Gels Industry Research
By Material:
- Bovine-Based
- Porcine-Based
- Polymer-Based
By Indication:
- General Surgery
- Dental Surgery
- Veterinary Surgery
- Cardiovascular Surgery
- Orthopaedic Surgery
- Others
By End-User:
- Hospitals
- Speciality Clinics
- Veterinary Settings
- Ambulatory Surgical Centers
- Online Sales
The global hemostatic agents market displays a highly competitive vendor landscape with the presence of numerous prominent players that offer extensive product lines, reports Transparency Market Research.
These companies hold a lion’s share in the market and are focused on building a stron network with hospitals and distributors to expand their footprints in the market.
Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=52779As per expert analysts, the global hemostatic agents market is expected to rise at a promising CAGR of 6.5% during the forecast period which is 2018 to 2022.
On the basis of geography, the hemostatic agents market spreads across Asia Pacific, Europe, North America, South Africa, and Rest of the World.
Additionally, surging geriatric population has strengthened the market’s growth ground in North America.
This is mainly because it takes long time for the wounds of geriatric patients to heal.
