Hemostasis And Tissue Sealing Agents Market Size, Share & Trends Report

Hemostasis And Tissue Sealing Agents Market Size, Share & Trends Analysis Report By Product (Topical Hemostat, Adhesives & Tissue Sealant), By Region, And Segment Forecasts, 2019 - 2026

  • Published Date: Feb, 2019
  • Base Year for Estimate: 2018
  • Report ID: 978-1-68038-597-7
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 150

Industry Insights

The global hemostasis and tissue sealing agents market size was valued at USD 5.35 billion in 2018 and is anticipated to expand at a CAGR of 8.7% 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 increase in demand supported by rising surgery volumes. Growth in geriatric population and prevalence of chronic conditions is one of the impact rendering drivers. As per the Centers for Disease Control and Prevention (CDC) statistics, over 45% of 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 towards 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 the growth. Hernia fixation, diabetes, spinal injuries, ophthalmic injuries and replacements, urological disorders, and burns are a few chronic conditions requiring these products.

U.S. Hemostasis and tissue sealing agents market

Hemostasis devices and sealants are used to prevent blood loss in various conditions. Preference for these products over other wound closure methods led to its increasing use in multiple conditions, especially in endoscopic procedures. The hemostasis and tissue sealing agents market caters 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 the urological treatments. Minimally invasive surgeries in the field of urology are particularly making use of hemostatic solutions, thereby promoting the market growth.

The highest demand is witnessed in cardiovascular conditions followed by general surgeries. Higher application in cardiovascular disorders is attributed to better clinical results obtained by the use of sealants and hemostats compared to other wound closure techniques. However, lack of reimbursements for these products may restrain the growth to a certain extent. Increasing cost of surgical procedures and high price of surgical products is also expected to challenge the growth to an extent.

Product Insights

Key product segments analyzed in this study include topical hemostats and tissue sealants. The topical hemostats are further classified into mechanical, active, and flow-able hemostats. Topical hemostats are generally used with conventional treatment to provide cost-efficiency, quick and easy absorbability of the hemostatic agent, minimal tissue reactivity, and non-antigenicity.

Hemostasis involves the completion of coagulation, fibrinolysis, and platelet aggregation pathways by the activation of these factors. Hemostats consist of hemostatic agents and their delivering systems, which maybe a prefilled syringe or ready-to-use applicators.

Adhesive and sealants play a prominent role in controlling blood loss during surgeries. They function by binding with and sealing the damaged tissues. Binding leads to the development of a barrier over the injuries and surgical wound and helps promote coagulation. The factors promoting their demand over sutures are faster procedure rate, minimal invasion, reduced post-surgical infections, and prevention of exudation of other body fluids. These are further sub-segmented on the basis of sealants used into synthetic, natural, and adhesion barrier products.

Regional Insights

North America held the largest market share owing to growing prevalence of cardiovascular disorders, diabetes, and cancer within the region. Adhesives and sealants account for a large share of the North American market. Europe held the second largest market in 2018 and is expected to expand at a CAGR of about 8.0% over the forecast period. Launch of advanced and innovative products such as FLOSEAL, TISEEL and HEMOPATCH is expected to propel the demand from European countries. The regional market is expected to be driven by the rising geriatric population, which ultimately leads to higher number of surgeries.

The major factor responsible for the large share is aggressive marketing of such devices in the region. Other factors fostering growth are the regular launch of new products, increasing applications of such devices in surgeries and other medical applications along with demand for sealing agents that minimize post-operative complications and boost the speed of healing.

Global Hemostasis & tissue sealing agents market

Asia Pacific is expected to witness lucrative growth over the forecast period due to increased medical tourism and surgical procedures. Liberal policies coupled with cost effective environment are the major drivers for the regional growth. India, China and Japan are the leading countries with presence of relatively more developed healthcare infrastructure, advanced treatments, and large pool of patients. Market in Malaysia, Singapore and other Asian countries is expanding at a rapid pace with booming medical tourism industry and improving healthcare services due to government support.

Hemostasis and Tissue Sealing Agents Market Share Insights

Key players include CryoLife, C. R. Bard, B. Braun, and Advance Medical Solutions Group. Pfizer is expected to gain share on the pretext of its acquisition of King Pharmaceuticals, which has been a major contributor to the market. Strategic trends expected to be followed by the players include tie-ups with hospitals and care centers, R&D in the field of formulation development, incorporation of bacteriostatic properties, and aggressive marketing plans for natural adhesives, especially fibrin sealants.

Companies are also involved in mergers and acquisitions aimed at ensuring sustainability and expanding regional presence. For instance, in January 2015; B. Braun signed an agreement with Cohera Medical Inc. for the distribution of TissuGlu in Germany, Portugal, and Spain. B. Braun is expected to promote the product through its various commercial channels in all the three regions of Europe.

Companies such as Advanced Medical Solutions Group plc own direct sales force team in Germany, U.K., and Russia to effectively market the products in Europe. Companies are now introducing cost effective hemostasis and tissue sealing agents to expand their customer base and this expected to contribute to the rising demand from emerging countries.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2026

Market representation

Revenue in USD Million & CAGR from 2019 to 2026

Regional scope

North America, Europe, Asia Pacific, Latin America, MEA

Report coverage

Revenue forecast, company share, competitive landscape, growth factors and trends

Country Scope

U.S., Canada, U.K., Germany, France, Italy, Spain, Japan, China, India, Brazil, Mexico, Argentina, Columbia, South Africa, Saudi Arabia, and UAE

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2026. For the purpose of this study, Grand View Research has segmented the global hemostasis and tissue sealing agents market report on the basis of product and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2026)

    • Topical Hemostat

    • Adhesive & Tissue Sealant

  • Regional Outlook (Revenue, USD Million, 2015 - 2026)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • China

      • Japan

      • India

      • Thailand

      • South Korea

    • Latin America

      • Mexico

      • Brazil

      • Argentina

      • Colombia

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

Key questions answered by the report
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