The global Hemostasis and Tissue Sealing Agents market size is expected to be worth USD 6,632.9 million by 2026 growing at a CAGR of 7.8% from 2019 to 2026, as per new research report published by Polaris Market Research. The report on Global Hemostasis and Tissue Sealing Agents Market Size, Share, Trends & Industry Analysis, [By Product Type (Topical Hemostats, Adhesives & Tissue Sealing Agents); By End User; By Region]: Segment Forecast, 2019 – 2026, provides in depth analysis of the current and upcoming market trends.
During 2017, among product types, Topical hemostats segment was observed to capture the largest market shares in terms of revenue. Among the regional markets, North America region accounted for a dominating share and the regional market in Asia Pacific is anticipated to witness fastest growth during the forecast period.
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Increase in demand across the world for minimal invasive surgeries along with continual rise in geriatric patients with chronic conditions are factors responsible for the estimated growth in this market. Also, as new hemostats and tissue sealants are being introduced in the market, they are witnessing increased preference as these products eliminate any issues and risks associated with tissue contamination.
Moreover, injuries caused by sports activities, spinal conditions coupled with growing emphasis on effective measures for blood loss management during surgeries are expected to have further positive influence on adoption of these products. The significant rate of growth in amount of hospitals and surgical centers in markets of emerging economies present encouraging opportunities for manufacturers of hemostats and tissue sealant agents.
The regional analysis section in this report covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa regional markets. North America Hemostasis and Tissue Sealing Agents market held the leading position among all regional markets and is expected to maintain its dominating position throughout the forecast period. However, market in Asia Pacific region is expected to grow at the highest rate; the growth in this region is majorly expected due to rapidly improving healthcare infrastructure, rising medical tourism, and growing aging population in countries such as China and India.
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The FDA has approved fibrin sealants as broad level hemostats for use in surgical procedures. These are popular and conveniently used in Myocardial Infarction (MI) surgeries and specifically in cases of patients having clotting disorders. Major companies in the global hemostasis and tissue sealing agents market include Advanced Medical Solutions Group plc, B. Braun Melsungen AG, Baxter International Inc., BD Bard, CryoLife, Inc., Ethicon, GELITA MEDICAL GmbH, Medtronic, Pfizer Inc., Smith & Nephew plc, and Stryker Corporation.