Global Hemostatic Gels Market Expected to Reach USD 1.9 Billion by 2032, Growing at a CAGR of 6.8%

Hemostatic Gels Market

Hemostatic Gels Market

The global hemostatic gels market is on a growth trajectory, with a valuation of USD 957.1 million in 2021. According to recent insights from Future Market Insights, the market is projected to expand at a compound annual growth rate (CAGR) of 6.8%, reaching approximately USD 1.9 billion by 2032.

A key driver of this growth is the increasing demand for advanced hemostatic solutions in surgical and trauma care settings. The market is notably led by porcine-based hemostatic gels, which captured a substantial market share of about 45% in 2021 among various material types. These gels are favored for their effectiveness in controlling bleeding and promoting faster wound healing.

The anticipated expansion of the hemostatic gels market underscores the growing emphasis on improving patient outcomes and surgical efficiency. Advances in gel formulations and expanding applications are expected to further fuel market growth.

According to the Centers for Condition Control and Prevention (CDC), more than 45% of Americans have at least one chronic condition that necessitates surgical intervention.

Globally, around 2,000,000 people die from hemorrhage each year, out of which approximately 1,500,000 deaths are due to trauma injuries. Similarly, every year almost 60,000 people die in the U.S. due to hemorrhaging and blood loss. These figures indicate the need for hemostatic gels during surgical procedures to improve clinical outcomes.

Hemostatic Gels Market Key Takeaways:

  • Based on product type, sales of porcine-based hemostatic gels are expected to grow at a 5.7% CAGR through 2032.
  • In terms of indication, the cardiovascular surgery segment is expected to account for 33.1% of the total market share over the assessment period.
  • By end users, demand for hemostatic gels across hospitals will increase at a 5.4% CAGR during the forecast period.
  • The U.S. dominated the North American hemostatic gels market in 2021, holding 82% of the total market share.
  • Demand for hemostatic gels in India is forecast to grow at a 7.4% CAGR over the assessment period.
  • Sales in the U.K. hemostatic gels market are expected to increase at a 7.1% CAGR through 2032.
  • China will emerge as a lucrative pocket, with demand growing at an 8% CAGR over the forecast period.

“Rising adoption of effective hemostatic gels across various industries for the protection of the workforce is expected to fuel demand in the market. In addition to this, rising awareness regarding the usage of hemostatic gels for blood loss management across emerging economies will augment the growth in the market,” says an FMI analyst

Clotting agents are medical devices used to stop bleeding in a variety of clinical settings, including surgical procedures, emergency situations, and trauma care. These gels work by promoting the clotting process, which is essential to prevent excessive blood loss.

Hemostatic Gels Market Competition Landscape:

Key players operating in the hemostatic gels market are adopting strategies such as product launches, mergers & acquisitions, joint ventures, and R&D activities to improve their global presence. For instance:

  • In 2019, Baxter International, Inc. introduced Floseal Hemostatic Matrix, its new hemostatic agent. Floseal Hemostatic Matrix U.S.FDA approved and is used to stop bleeding during surgical procedures.
  • In 2021, Medcura, Inc. together with ASO LLC launched Rapid-Seal, a new class of antibacterial hemostatic gel. This product meets the market demand for a transparent gel that will be easily applied during surgeries.

Key Companies Profiled:

  • Baxter
  • Bio-Chem LLC
  • Clinician’s Choice Dental Products Inc.
  • Cresilon, Inc.
  • DSI Ltd.
  • ENDOVISION CO., LTD
  • Ethicon US, LLC
  • F&A Medical
  • PrevestDenPro
  • Septodont
  • Teleflex Incorporated
  • Ultradent Products Inc. All
  • VladMiVa
  • Medcura, Inc.,

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Key Segments Covered In Hemostatic Gels Market 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

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges clients face and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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