Hemostasis & Tissue Sealing Agents Market Analysis by Political, Legal, Economic and Technological Factor

San Francisco, Calif., USA, June 06 2023 — /EPR Network/ —

Hemostasis & Tissue Sealing Agents Industry Overview

The global hemostasis & tissue sealing agents market size was valued at USD 6.13 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 8.8% during the forecast period. Hemostats and sealants are medical devices used to cease bleeding and hemorrhage caused by injuries and surgical procedures. The market is expected to witness lucrative growth over the next seven years owing to an increase in demand supported by the rising surgery volumes. Growth in the geriatric population and the high prevalence of chronic conditions are among the key drivers of the market. As per the Centers for Disease Control and Prevention (CDC) statistics, over 45% of the American population suffers from at least one chronic condition requiring critical care.

Geriatric patients require critical care and are prone to injuries and wounds that take a lot of time to heal. With increasing demographic tilt toward an active lifestyle, the cases of routine injuries and wounds are on a rise, which is expected to drive market growth. Chronic diseases ultimately lead to surgical procedures to be performed on the patient, which, in turn, boosts growth. Hernia fixation, diabetes, spinal injuries, ophthalmic injuries and replacements, urological disorders, and burns are a few chronic conditions requiring these products. The spread of the COVID-19 virus had a significant effect on the market.

Gather more insights about the market drivers, restraints, and growth of the Global Hemostasis & Tissue Sealing Agents Market

The coronavirus causes thrombotic bleeding and complications, a major cause of fatality among patients that are infected by the virus. The market grew with the increasing importance of unbalanced hemostasis in COVID-19 patients in favor of a prothrombotic state. The rising instances of hemostatic anomalies in the impacted people and their effect on prognosis likewise positively affected the market growth. Critical illness, bleeding, death, and thrombosis among patients affected by COVID-19 were predicted during hospital admission by D-dimer elevation. Therefore, the market witnessed positive growth during and post-COVID-19 period.

In March 2020, the International Society for Thrombosis and Hemostasis launched interim guidelines for the management and recognition of coagulopathy among COVID-19 patients on the basis of ISTH DIC score. Hemostasis devices and sealants are used to prevent blood loss in various conditions. Preference for these products over other wound closure methods led to their increasing use in multiple conditions, especially in endoscopic procedures. The hemostasis and tissue sealing agents market cater to conditions ranging from mild injuries to burns and neurosurgical management. Since 2006, post a study conducted and published by the National Centre for Biotechnology Information, hemostatic products have found a wide range of applicability in urological treatments.

Browse through Grand View Research’s Medical Devices Industry Related Reports

Vaccine Delivery Devices Market – The global vaccine delivery devices market size was valued at USD 6.03 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030.

Vessel Sealing Devices Market – The global vessel sealing devices market size was estimated at USD 1,510.0 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.04% from 2023 to 2030.

Hemostasis & Tissue Sealing Agents Industry Segmentation

Grand View Research has segmented the global hemostasis & tissue sealing agents market on the basis of product and region:

Hemostasis & Tissue Sealing Agents Product Outlook (Revenue, USD Million, 2017 – 2030)

• Topical Hemostat
• Adhesive & Tissue Sealant

Hemostasis & Tissue Sealing Agents Regional Outlook (Revenue, USD Million, 2017 – 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• MEA (Middle East & Africa)

Market Share Insights:

July 2021: Medcura, Inc., a medical devices company, announced the launch of Rapid-Seal, an antibacterial, high-performance hemostatic gel, in partnership with ASO, LLC, a supplier, and manufacturer of first-aid products.

Key Companies profiled:

Some prominent players in the global Hemostasis & Tissue Sealing Agents Industry include

• Johnson & Johnson
• CryoLife, Inc.
• Pfizer
• C R Bard
• B Braun
• Covidien
• Advance Medical Solutions Group
• Smith & Nephew

Order a free sample PDF of the Hemostasis & Tissue Sealing Agents Market Intelligence Study, published by Grand View Research.