Global hemostatis and tissue sealing agents market is anticipated to register substantial market growth over the coming seven years owing to the introduction of cost effective and technically advanced hemostatis and tissue sealing devices coupled with new product development. In addition, increasing geriatric population base, liberal government policies and rising adoption of minimally invasive surgeries is expected to provide hemostatis and tissue sealing market with lucrative growth opportunities. However, limited applicability and high costs associated with devices may pose hindrance to the growth of hemostatis and tissue sealing agents market in near future.
The global hemostatis and tissue sealing agents market is segmented on the basis of product. It includes topical hemostats and adhesive & tissue sealant products. Topical hemostat products are further divided into active hemostat (thrombin based topical hemostat), mechanical hemostat and flowable hemostat (combinational topical hemostat). Hemostat products such as oxidized regenerated cellulose (ORC), collagen, polysaccharide based topical hemostat and gelatin are included under mechanical hemostat.Topical hemostatic agents are used when surgical hemostasis is inadequate. The majority of routine and elective operations are performed to patients with normal hemostasis resulting in minimal blood loss. On the contrary, adhesive and tissue sealant products are divided into synthetic tissue sealant, natural tissue sealant and adhesion barrier products. Natural tissue sealant includes fibrin sealant and others (collagen and albumin based tissue sealant). Synthetic sealant comprises cyanoacrylate tissue sealant and others (polyethylene glycol and others).The adhesive and tissue sealing agents are expected to register lucrative growth over the forecast period owing to increasing R&D expenditure pertaining to development of adhesion barrier product and new tissue sealant.
Geographically, the hemostatis and tissue sealing agents market is segmented into North America, Europe, Asia pacific, Latin America and MEA. As of 2014, North America held the highest market share owing to increasing number of pulmonary, vascular and cardiovascular surgeries in this region. Also, availability of technically advanced products, increasing healthcare expenditure and favourable government policies is further expected to fuel the market growth in near future. Rising geriatric population base and growing usage of innovative technology based hemostat products such as TISEEL (baxter), FLOSEAL and HEMOPATCH and others is expected to boost market growth in European countries. Asia pacific region is expected to register fastest growth over the coming seven years due to liberal regulatory policies, rising personal disposable income, awareness level of patients & healthcare professionals availability of cost effective products and increasing investments by market players in this region. Also, Latin American countries such as Brazil and Mexico are expected to witness speedy market growth due to rising healthcare awareness and infrastructure facilities.
Some prominent players operating in hemostatis and tissue sealing agents market are Advanced Medical Solutions Group, Cohera Medical Inc., Integra Life Sciences Corporation, Johnson & Johnson, Pfizer Inc., Baxter International, CryoLife Inc., Cohesion Technologies and C.R. Bard Inc. The companies are adopting strategically innovative methods such as R&D operations to gain competitive market share over the coming seven years. For example, CryoLife Inc.received approval for a new hemostat namely PerClot, from the Food and Drug Administration (FDA) to begin its pivotal clinical trial and gain approval to manufacture PerClot in the U.S. PerClot is a new and unique hemostat consisting of absorbable polysaccharide granules and is used in surgical processes as an adjunctive hemostatic device when control of venular, capillary and arteriolar bleeding by ligature, pressure or other conventional means is impractical or ineffective. There exists tremendous market growth opportunities for the companies investing in emerging economies owing to larger untapped opportunities, lower cost of production and increasing disposable income of people in these regions.
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