European Hemostats & Sealants Market worth $89 Million by 2024

PUNE, India, 2020-Dec-08 — /EPR Network/ —

Major Growth Boosters:

The growth of this market is majorly driven by the launch of new products and favorable reimbursement scenario. However, the shift toward minimally invasive surgeries and adverse effect of hemostats are the major factors restraining the growth of this market.

Expected Revenue Surge:

The hemostats and sealants (focused products) market is projected to reach USD 109 million by 2027 from USD 63 million in 2019, at a CAGR of 7.0%.

What This Report Will Provide:

The study involved four major activities to estimate the current size of the hemostats and sealants (focused brands) market. Exhaustive secondary research was conducted to collect information on the market and its different subsegments.

The next step was to validate these findings, assumptions, and sizing estimates with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.

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Key questions addressed in the report:

# What are the growth opportunities in the hemostats and sealants market across major countries in Europe in the future?
# What are the key drivers and restraints in the hemostats and sealants market?
# What are the key brands in the hemostats and sealants market?
# Which are the key countries in the hemostats and sealants market?
# What are the most preferred brands amongst end users?

Based on focused products, Tachosil is projected to register the highest growth during the forecast period

Based on focused products, the market is segmented into Tachosil, Lyostypt, Sangustop, Veriset, Avitene, and Hemopatch. Tachosil is expected to grow at the highest CAGR during the forecast period, mainly due to the increasing demand for this product among end users.

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the European hemostats and sealants (focused products) market. The research methodology used to estimate the market size includes the following:

# The key players in the industry and markets have been identified through extensive secondary research
# The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research

Germany commands the largest share of the market

Based on region, the hemostats and sealants (focused products) market is segmented into Germany, the UK, France, Italy, and Spain. Germany dominates the hemostats and sealants market due to its large patient population and the favorable reimbursement scenario for the usage of hemostats.

Report Objectives;

# To define, describe, and forecast the European hemostats and sealants market (by value) on the basis of focused brand and country.
# To identify micromarkets and the drivers, restraints, industry-specific challenges, opportunities, and trends affecting the growth of the focused brands market.
# To profile focused brands and comprehensively analyze their market shares in focused European countries.

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Global Leaders:

The market for hemostats and sealants is anticipated to grow mainly due to the launch of the new products, M&A’s, and favorable reimbursement scenario in Europe. However, the increasing preference for minimally invasive surgeries and the reducing preference for the usage of hemostats while performing surgeries are expected to hinder the growth of this market during the forecast year. Leading players operating in this market are Ethicon (J&J), Baxter, Pfizer, Baxter, C. R. Bard, and B. Braun.

Focused brands for this study are Hemopatch (Baxter), Tachosil (Takeda), Veriset (Medtronic), Avitene (C. R. Bard), and Sangustop & Lyostypt (B Braun).

About MarketsandMarkets™

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