Hemostasis & Tissue Sealing Agents Market Is Predicted To Grow Swiftly Due To Its Ability In Preventing Blood Loss Till 2022: Grand View Research, Inc.
The global hemostasis and tissue sealing agents market is
expected to reach USD 7.4 billion by 2022, according to a new report by Grand
View Research Inc. The global hemostasis and tissue sealing agents market has
gained popularity over time due to its ability in preventing blood loss. Rapid
growth of minimal invasive technology and rising demand for faster recovery by
patients is expected to promote market growth over the forecast period.
According to the CDC, approximately 150 million of American
population is currently suffering with at least one chronic condition, which
leads to surgeries and even mortality at times. An estimate over the rising
incidence was made by the CDC, which concluded that over 48% of the entire
American population is expected to suffer by chronic condition.
The demand for wound management is expected to rise with
increasing chronic disease incidence over the next seven years. The Public
Health Agency of Canada in its report stated that the chronic disease
occurrence rate is anticipated to increase by 14% annually and four out of five
cases are of high risk requiring immediate treatment and surgeries.
Browse full research report on Hemostasis
And Tissue Sealing Agents Market
Further key findings from the report suggest:
- The hemostats market is expected to grow
at a CAGR of over9.0% over the forecast period owing to, the rise in
global volume of surgeries and increased applicability across a variety of
surgeries. The products avoid occurrence of hypovolemic shock,
thrombocytopenia, blood transfusions, and increase in post-operative
complications.
- Flowable hemostats are a combination of
active and mechanical agents. They function by blocking blood flow and
also convert fibrinogen into fibrin for the coagulation process to
commence. This segment is expected to grow at a lucrative CAGR of over
10.0% from 2015 to 2022.
- North America is estimated to be the
largest market for the hemostasis and tissue sealing agents over the
forecast period and is expected to account for over 30.0% share by 2022.
- Asia Pacific is identified as a
lucrative market due to a rapid growth in the surgery volume brought about
by the introduction of medical tourism. It is anticipated to account for
over 27.0% of the overall market share by 2022. The Europe hemostasis and
tissue sealing agents market is expected to be driven by the rise in
geriatric population base, which is expected to ultimately lead to a surge
in procedure volume.
- Some key players of this market include
Johnson & Johnson, CryoLife Inc, Pfizer, C R Bard, B Braun, Covidien,
and Smith & Nephew.
- Market participants are involved in
technological advancements in order to ensure sustainability and improve
regional presence.
- For instance, in March 2015, Ethicon
announced higher efficiency of EVARREST fibrin sealant patch as compared
to its substitute, TachoSil patch (Baxter). Further study would be
conducted at the St. Vincent Heart Centre of Indiana to understand added
advantages that the product can offer.
- In August 2015, Integra Life Sciences
announced a new application of the Integra Dermal Regeneration Template in
chronic diabetes-based foot ulcers. The product is expected to be used for
treating these ulcers post its approval by the FDA in 2016.
For more information: http://www.grandviewresearch.com
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