Flowable Hemostats Market

Flowable Hemostats Market Outlook (2022-2032)

The global flowable hemostats market is expected to be worth US$ 1,124 Million in fiscal year 2022, up from US$ 912.2 Million in fiscal year 2021. From 2022 to 2032, the market is expected to grow at a 7.1% CAGR, reaching a value of US$ 1,654.25 Million by the end of 2032.

The flowable hemostat has the ability to flow, making it useful for moist or challenging-to-reach areas. It is a medical instrument mostly used during minimally invasive surgical procedures to control and stop bleeding during surgery.

In essence, it's utilized in the first few minutes of operation to make a small incision that stops blood arteries temporarily before being tied. In this challenging economic climate, the demand for flowable hemostats is increasing. The need for flowable hemostat is increasing as a result of the demand for medical supplies and medications that has increased over the previous year.

Flowable hemostats are frequently utilized for operations on the spine, heart, abdomen, and other significant surgical sites with substantial bleeding. The goal of market participants has been to develop a prominent footprint in the nation.

For instance, the US-based business Medcura, Inc. has created a line of cutting-edge hemostatic and wound care solutions. Life Foam, an expanding injectable hemostat, was created by the business. The device quickly offers temporary management of bleeding from non-compressible abdomen wounds, which are challenging to treat in situations like trauma and combat.

Accident-related trauma, behind heart diseases and cancer, is the third most common cause of mortality in the US, according to data from the Centers for Disease Control and Prevention (CDC). Life Foam detects non-compressible internal injuries in about 85% of hemorrhage-related fatalities.

The device was given a Breakthrough Device Designation by the Food and Drug Administration (FDA) in 2018, which sped up its research and clinical use, particularly for severe injuries.

Attributes	Details
Anticipated Base Year Value (2021)	US$ 912.2 Million
Expected Market Value (2022)	US$ 1124 Million
Projected Forecast Value (2032)	US$ 1654.25 Million
Global Growth Rate (2022-2032)	7.1%
CAGR of North America (2022)	6.9%
CAGR of APAC (2022-2032)	6.7%
Prominent Players in the Global Market	Johnson & Johnson Baxter International Teleflex Incorporate CR Bard, Inc. Ethicon, Inc. Axio Biosolutions Braun Melsungen AG Integra LifeSciences Marine Polymer Technologies, Inc. Pfizer, Inc. Z-Medica LLC Gelita Medical GmbH

2017-2021 Flowable Hemostats Market Demand Analysis Vs. Forecast 2022-2032

The global flowable hemostats market grew at a CAGR of 5.2% from 2017 to 2021, as per Fact.MR, a provider of market research and competitive intelligence. Following the devastating times of the coronavirus (COVID-19) pandemic, healthcare firms in the flowable hemostats market are expanding the provision of life-sustaining medications and medical devices, such as flowable hemostats.

To assist satisfy the rising demand for their products, they are increasing the number of jobs available to people. One of the main areas of attention for businesses in the flowable hemostats market is expanding the product supply chain because COVID-19 also presents a danger to societies and healthcare systems all over the world. By making hemostats as well as other medical equipment accessible around-the-clock, manufacturers are maximizing their production efforts.

Governments, doctors, and healthcare systems are actively collaborating with internal medical teams of various med-tech businesses to grasp the particular issues brought on by COVID-19. Leading medical technology firms are supporting communities and frontline healthcare workers financially as a form of philanthropy. To enhance clinical results, they are providing region-specific support. Such steps will boost the demand of the flowable hemostats globally during the forecast period.

Prominent Growth Drivers Influencing Flowable Hemostats Market

Increasing number of trauma as well as surgical cases to boost the growth

The rise in trauma as well as accident cases throughout the world is a key factor driving the market for flowable hemostats. The World Health Organization (WHO) estimates that 1.25 million people worldwide die in traffic-related incidents each year.

Over 40% of fatalities during the first 24 hours including over one third of pre-hospital deaths worldwide are a result of hemorrhage or severe bleeding. Furthermore, according to research by the US Armed Forces, 25% of fatalities on battlefields may be avoided with medical intervention. Unchecked blood loss is the cause of about 90% of these fatalities. Such factors can be predicted to boost the demand in the global market for flowable hemostats.

Governments have been prompted to create and supply better bleeding control measures by the high number of fatalities. Around the world, the number of patients with chronic illnesses and trauma is steadily expanding. The incidence of surgical operations is projected to rise as a result, driving the market for flowable hemostats worldwide.

Rising Geriatric Population to boost the demand

During the projection period, an increase in the world's geriatric population is anticipated to drive demand for hemostats, notably flowable hemostats. The increase in the elderly population has a direct impact on the need for hemostats, partly because older people are more susceptible to various illnesses and require more procedures as a result.

The number of elderly people worldwide is rising quickly. The WHO predicts that by 2050, there will be 1.5 billion more people worldwide who are elderly than there were in 2010. The demand for healthcare grows as people age because they become more susceptible to orthopedic problems like osteoporosis, respiratory illnesses like TB and pneumonia, tooth decay and oral cancer, as well as cardiovascular ailments like coronary heart disease. Most industrialized nations have large populations of elderly people. The WHO predicts that the elderly population will grow quickly in affluent nations including the United States, the United Kingdom, and Japan.

Due to benevolent healthcare policies and improvements in healthcare infrastructure in nations like the U.S., the U.K., Japan, and other countries in Western Europe, access to numerous diagnostic and treatment services has increased. As a result, the population's life expectancy has grown. During the projection period, it is predicted that the global market for flowable hemostats would grow.

What Could Possibly Hinder Flowable Hemostats Market Demand?

Market can be hampered by a lack of Knowledge in Developing Nations

In underdeveloped nations, a sizable portion of diseases are caused by bleeding problems. The most prevalent bleeding illness in the world is Von Willebrand disease (VWD). Every year, 3 million individuals with VWD go untreated worldwide, according to Health Grades, Inc.

Developing nations like India and China have a high prevalence of Von Willebrand disease. During the projected period, the worldwide market for flowable hemostats is anticipated to face challenges due to a lack of knowledge regarding bleeding diseases in underdeveloped nations.

Category-wise Insights

Which Material is expected to gain traction during 2022-2032?

Bovine Gelatin-based Flowable Hemostats will gain the dominant Market Share

In 2021, the bovine gelatin market category had a bigger market share, and in 2022, it is anticipated to take 45.5% of the market. Additionally, it is predicted that throughout the projection period, the same category would see a higher CAGR of 7.2%.

Bovine gelatin is a collagen-based food ingredient that is white, transparent, flavorless, and crumbly. It is generated from various animal body parts. In the creation of cosmetics, vitamin capsules, and medicinal medications, gelatin is typically utilized as a gelling agent.

The amino acids in this gelatin serve as an internal "glue" that keeps the body together by producing connective tissues including cartilage, ligaments, and joints. Such factors are expected to boost the segmental growth during the forecast period.

Which end-user segment will be used for these products more often?

The hospitals and clinics segment of flowable hemostats will become dominant

The hospitals and clinics segment will be the fastest growing segment during the forecast period with a 7.4% CAGR. In the year 2022, this segment is predicted to acquire almost 34% of the market share.

Hemostats are often used in hospitals and clinics to constrict tiny blood arteries in order to reduce hemorrhages. To grip and hold onto superficial fascia while eroding and debriding wounds is another usage. The deeper regions of a wound may be explored, exposed, and seen with this equipment, which is a great tool. Such factors are expected to push the demand to new heights in the next ten years.

Region-wise Analysis

What is the outlook of the North American Flowable Hemostats Market?

Advanced healthcare systems with constant developments to propel the regional demand

With a CAGR of 6.9% from 2022 to 2032, the North American region is anticipated to considerably contribute to the market growth during the research period. Due to a variety of variables, including an increase in surgical operations, improvements to the area's healthcare infrastructure, and technological breakthroughs, North America held the biggest market share in 2021.

Due to the rising surgical procedures, the introduction of novel products by market participants, and the presence of top-notch healthcare facilities in the US, the flowable hemostats market is predicted to expand significantly over the course of the projected period.

What can be expected from the APAC market for Flowable Hemostats?

Rising incidences of Hemophilia will boost demand during the Forecast Period

Throughout the anticipated period, Asia Pacific exhibits a significant market potential for flowable hemostats. According to the Fact.MR projections, the market will grow with a steady CAGR of 6.7% from 2022-2032. The Asia Pacific market for flowable hemostats is dominated by China.

During the projected years, it is anticipated that factors such as the rising number of hospitals, increasing focus on delivering superior surgical treatment, and rising demand for contemporary medical equipment would drive the expansion of the China flowable hemostats market.

The creation, advancement, and testing of flowable hemostats have been made possible by the growth in the occurrence of bleeding diseases. A research by the Hemophilia Treatment Center Collaboration Network of China (HTCCNC) found that from 2007 to 2019, HTCCNC identified 17,779 individuals with hemophilia A.

The majority of patients (99.99%) were men, and 28.3% had a documented family history of hemophilia. 6,519 individuals had acute HA (49.7%), 4,788 had medium HA (36.5%), and 1,809 had light HA (13.8%), according to patients with lab-measured illness severity (N = 13,116). As a result, the need for flowable hemostats will rise throughout the predicted time frame due to an increase in hemophilia incidence.

Start-up Scenario

Various new companies in this market are focussed at enhancing their existing products or developing new products in the global market.

• Kenyon USA is a manufacturer of single-use disposable medical instruments and devices for gynecology, dental, and surgical applications. Their line of products includes needle holders, stainless steel scissors, clamps, skin staple removers, forceps, biopsy punches, dental examination kits, hemostats, dental mirrors and probes. At the same time, they also deal with various home care medical devices.
• World Monopler Enterprises is a manufacturer of surgical, dental, ophthalmic, orthopedic, gynecology, and diagnostic instruments. Their line of products includes blade breakers, articulators, hemostats, calipers, cannulas, carvers, chisels, clamps and tongue depressors.

Competitive Landscape

Some of the prominent players in the global flowable hemostats market are: Johnson & Johnson, Teleflex Incorporated, Axio Biosolutions, Baxter International, CR Bard, Inc., Braun Melsungen AG, Marine Polymer Technologies, IncZ-Medica LLC, Ethicon, Inc., Integra LifeSciences, Gelita Medical GmbH and Pfizer, Inc.

• Axio Biosolutions, a leading MedTech business, announced a $6 million Series B2 equity investment in 2021 that will be led by TrueScale Capital and include existing shareholders Omidyar Network India, University of California-Ratan Tata Fund, and Accel. Axio Biosolutions Private Limited, located in India, is an entirely owned subsidiary of Advamedica Inc., a Boston-based company that specializes in developing innovative wound care as well as hemostatic products.
• At the 2019 session of Association of periOperative Registered Nurses (AORN) Global Surgical Symposium and Expo, Baxter International Inc., a global leader in progressing surgical innovation, declared that the U.S. Food and Drug Administration (FDA) had approved it for faster preparation of its own renowned hemostatic product, Floseal Hemostatic Matrix. In order to assist surgeons control bleeding during procedures, this new version of Floseal requires 20 percent fewer components and preparation steps1, making it simpler and quicker for operating room (OR) nurses to administer Floseal.
• Baxter International Inc. stated in July 2021 that its Baxter Healthcare Corporation subsidiary has finished buying off CryoLife, Inc. of some assets connected to the PerClot Polysaccharide Hemostatic System. The deal strengthens Baxter's goal of acquiring goods and innovations that enhance and add to its market-leading portfolio in hospitals, especially those used in operating rooms.

Key Segments Covered in The Flowable Hemostats Market Report

• By Material :

  • Bovine Gelatin
  • Porcine Gelatin

• By Product :

  • Active Hemostats
  • Passive Hemostats
  • Combination Hemostats

• By Application :

  • General Surgery
  • Cardiac Surgery
  • Orthopedic Surgery
  • Neuro and Spine Surgery

• By End-User :

  • Hospitals and Clinics
  • Ambulatory Surgery Centers

• By Region :

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa