What Has Been The Evolution of the Flowable Hemostats Market in Recent Years?
The flowable hemostats market has seen considerable growth due to a variety of factors.
• The size of the market for flowable hemostats has significantly increased over the past few years. It is predicted to rise from $0.95 billion in 2024 to $1.02 billion in 2025, with a compound annual growth rate (CAGR) of 8.0%.
Factors like the surge in elective surgeries, the growing adoption of personalized medicine, amplified healthcare expenditure, and the development of healthcare infrastructure in emerging markets have largely contributed to the past period's growth.
What Is the Forecasted Market Size and Growth Rate for The Flowable Hemostats Market Size In The Coming Years?
The flowable hemostats market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for flowable hemostats is projected to experience robust expansion in the upcoming years, ballooning to $1.37 billion by 2029 with a CAGR of 7.6%.
This forecasted growth can be associated with the surge in surgical procedures, a higher incidence of chronic illnesses, the increasing demand for less invasive surgeries, and the growth of an aging population that needs surgical care. Noteworthy trends expected during this period include the adoption of advanced bioengineered materials, the innovation of intelligent hemostatic products, the use of robotic-assisted and less invasive surgical methods, the preference for patient-specific and personalized hemostatic alternatives, and the advanced fine-tuning of hemostats.
What Factors Are Driving Growth In The Flowable Hemostats Market?
The growth of the flowable hemostats market is set to be propelled by the escalating number of surgical procedures. The rise in surgical procedures can be attributed to the aging populace, necessitating the demand for age-related surgeries and the technological innovations that have optimized the safety and accessibility of these operations. Highly efficacious in surgical procedures, flowable hemostats provide significant help in restraining bleeding in hard-to-reach areas or where conventional methods fall short. Drawing reference to a report disseminated by the International Society of Aesthetic Plastic Surgery (ISAPS), a non-governmental organization based in the US, there was a 3.4% surge in the overall number of surgical and non-surgical procedures in 2023, hitting a high of 34.9 million as compared to the prior year. It is, therefore, surmised that the surge in surgical procedures is fueling the expansion of the flowable hemostats market.
What Are The Main Segments Of The Global Flowable Hemostats Market?
The flowable hemostats market covered in this report is segmented –
1) By Product: Active Hemostats, Passive Hemostats, Combination Hemostats
2) By Material: Porcine Gelatin, Bovine Gelatin
3) By Application: General Surgery, Cardiac Surgery, Vascular Surgery, Neuro And Spine Surgery, Orthopedic Surgery, Other Applications
4) By End User: Hospital And Clinics, Ambulatory Surgery Centers
Subsegments:
1) By Active Hemostats: Fibrin Sealants, Thrombin-Based Hemostats, Collagen-Based Hemostats, Biodegradable Polymer Hemostats
2) By Passive Hemostats: Gauze-Based Hemostats, Sponges and Pads, Cellulose-Based Hemostats, Granule-Based Hemostats
3) By Combination Hemostats: Fibrinogen and Thrombin Combination Products, Collagen and Fibrin Combination Products, Synthetic Combination Hemostats, Bioresorbable Combination Hemostats
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What Emerging Trends Are Influencing The Growth Of The Flowable Hemostats Market?
Key players in the flowable hemostats market are concentrating their efforts on fabricating technologically advanced hemostatic solutions, such as no-swell technology, to cater for the changing demands of surgical operations. The term no-swell technology refers to a particular characteristic of a hemostatic agent, preventing it from expanding and absorbing fluids, hence making it suitable for surgeries where swelling may incite complications. For example, in January 2023, Medcura Inc., an American surgical technology platform, was granted a breakthrough device designation by the Food and Drug Administration (FDA) for its LifeGel flowable product that helps stop bleeding during surgery, basically in procedures where swelling cannot be risked. Medcura’s LifeGel stands as the first and only flowable hemostatic gel tailored to tackle issues related to hemostatic swelling. This absorbable agent doesn't swell because it is fully hydrated and ready for use, possibly reducing risks that come hand-in-hand with swelling, such as nerve damage and paralysis. It is economical, maintains antimicrobial attributes, is relatively clear, and adheres well with tissues, presenting a safer and more efficient method for controlling bleeding during complex surgical operations.
Who Are the Key Players In The Flowable Hemostats Market?
Major companies operating in the flowable hemostats market are:
• Pfizer Inc.
• Johnson & Johnson Services Inc.
• Medtronic plc
• Medline Industries Inc.
• Stryker Corporation
• Baxter International Inc.
• B Braun Melsungen AG
• Becton Dickinson and Company
• Cook Medical Inc.
• Teleflex Incorporated
• Mallinckrodt Pharmaceuticals
• Integra LifeSciences Holdings Corporation
• Gelita Medical GmbH
• Ferrosan Medical Devices A/S
• Marine Polymer Technologies Inc
• Axio Biosolutions Private Limited
• Hemostasis LLC
• Aegis Lifesciences Private Limited
• Medcura Health Inc
• Arch Therapeutics Inc.
• Starch Medical Inc.
What Is The Most Dominant Region In The Flowable Hemostats Market?
North America was the largest region in the flowable hemostats market in 2024. The regions covered in the flowable hemostats market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
