- Healthcare companies harness hemostat technologies to improve surgical outcomes in orthopedics and cardiology, thrombin-gelatin hemostatic matrix gathers traction due to remarkable safety and efficacy
- Tranexamic acid-loaded starch microspheres and novel hemostatic agents such as flowable procoagulants attract R&D interest, stringent regulations in key economies shape the contours of growth in flowable hemostats markets
ALBANY, N.Y., Jan. 21, 2021 /PRNewswire/ -- Flowable hemostats are gaining popularity in clinical practice to meet the need of advanced hemostatis. They reduce time to hemostatis, stop preoperative bleeding, and reduce the rate of postoperative bleeding.
The sales in the flowable hemostats market has risen due the widespread application of these in general surgeries. In particular, a variety of novel hemostatic agents such as hemostats and sealants find use in cardiovascular surgeries, endoscopic sinus surgeries, and hepatic surgeries. These agents may contain either bovine or porcine gelatin as one of the passive elements. Some of the product categories in the flowable hemostats market that exhibit vast clinical promise are tranexamic acid-loaded starch microspheres and thrombin-gelatin hemostatic matrix.
The valuation in the global flowable hemostats market was pegged at US$ 700 Mn in 2018, and is anticipated to reach worth of US$1 bn by 2027-end.
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Analysts at TMR concur that in recent months, medical technology companies in the flowable hemostats market are consolidating their production capabilities to develop hemostats used in vascular surgeries.
Key Findings of Flowable Hemostats Market
Demand during Covid-19 Pandemic Nudge Companies toward Robust Supply Chain
The Covid-19 pandemic that engulfed the healthcare systems worldwide has put marked pressure on manufacturers and healthcare providers to ensure adequate supply of advanced hemostatic agents. This has motivated healthcare and medical technology companies to strengthen their production and supply chains. Surgeons in recent months have benefitted from stocked inventory to cater to surge in demand for advanced hemostatic devices and agents. To this end, companies are keenly consolidating their supply chain with the aid of strategic partnerships and distribution agreements in various geographies. Meanwhile, medtech companies are relentlessly researching on novel techniques of applying hemostatic agents.
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Difficult-to-access Bleeding Sites See Advent of Novel Agents
The demand for hemostatic agents to achieve hemostatis in preoperative settings is crucial, especially in general surgeries. In this regard, the use of thrombin-gelatin hemostatic matrix in devices has gained traction in the flowable hemostats market. New agents with remarkable safety and efficacy profiles are actively being pursued by healthcare industries, especially to meet the needs of cardiology and orthopedics. Drug-loaded materials have gained clinical acceptance due to their higher performance. In recent years, drug-loaded materials are attracting the interest of medical technology companies who are keen on unveiling next-gen hemostats, such as for use at vascular access sites and percutaneous sites. Further, the opportunities in the flowable hemostats market benefit on back of growing awareness about the adverse effects of hemostatis, thus warranting use of these in only clinically proven conditions.
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Stringent Regulations in Key Markets Spur Use of Clinically Proven
North America has been one of the remarkably lucrative regions in the global flowable hemostats market. A promising demographics and presence of large target population, such as those with traumatic injuries, drive the appetite for next-gen devices. In this regard, federal regulations have nudged manufacturers and healthcare companies to market only those hemostatic devices that are clinically proven to meet the objective.
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Flowable Hemostats Market: Key Driving Factors and Promising Avenues
- Rise in geriatric population a promising demographic trend in the flowable hemostats market.
- Rise in hospitalization for surgeries due to traumatic injuries is propelling the demand for advanced hemostatis.
- Rise in cardiac and orthopedic procedures and general surgeries is a key trend boosting the growth of the flowable hemostat market. A part of this has to do with high prevalence of cardiovascular diseases.
- Research on novel hemostat agents to expand the revenue potential of key industry stakeholders.
Flowable Hemostats Market: Competitive Dynamics
- The presence of small number of players make the global flowable hemostats market increasingly consolidated.
- Well-entrenched players include Teleflex Incorporated, Baxter International, Inc., and Johnson & Johnson.
- New entrants and incumbent players set their sights on Asia Pacific to tap into large revenue stream
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Vascular Closure Devices Market: https://www.transparencymarketresearch.com/vascular-closure-devices-market.html
Gastrointestinal Bleeding Treatment Market: https://www.transparencymarketresearch.com/gastrointestinal-bleeding-treatment-market.html
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