Flowable Hemostats Market Research Report and Outlook by 2028

The global market for flowable hemostats is anticipated to grow significantly, reaching an estimated US$ 1,422.78 million by 2028, up from US$ 899.51 million in 2021. This growth represents a compound annual growth rate (CAGR) of 6.9% from 2022 to 2028.

Several factors contribute to this market expansion, including the rising incidence of injuries and surgical interventions, alongside an increasing elderly population. However, challenges such as a lack of skilled healthcare professionals and inadequate reimbursement policies may hinder market progress.

Flowable hemostats are characterized by their liquid consistency and typically consist of a gelatin matrix derived from either porcine or bovine sources. These products may also incorporate topical thrombin to enhance their hemostatic properties. They are particularly useful in surgical applications where access to the bleeding site is challenging, and they can be utilized across various surgical disciplines, with the exception of ophthalmic procedures.

In 2021, North America held the largest share of the flowable hemostats market, driven by factors such as an increase in surgical operations, improvements in healthcare infrastructure, and advancements in technology. The US market for flowable hemostats is expected to experience robust growth during the forecast period, fueled by a surge in surgical procedures, the introduction of innovative products by industry players, and the presence of advanced healthcare facilities. Flowable hemostats are widely employed in surgeries involving the spine, abdomen, cardiovascular system, and other critical areas prone to significant bleeding.

Companies are actively working to strengthen their market presence in the US. For example, Medcura, Inc., a US-based firm, has developed a range of advanced hemostatic and wound care products, including an injectable hemostat known as Life Foam. This product is designed to quickly control bleeding from non-compressible abdominal wounds, particularly in trauma and battlefield scenarios. According to the Centers for Disease Control and Prevention (CDC), trauma from accidents ranks as the third leading cause of death in the US, following heart disease and cancer, with approximately 85% of hemorrhage-related fatalities resulting from non-compressible internal bleeding, which Life Foam addresses. In 2018, the FDA granted Life Foam a Breakthrough Device Designation, expediting its development and clinical use, especially for traumatic injuries.

The global flowable hemostats market is categorized by material into bovine gelatin and porcine gelatin, with the bovine gelatin segment commanding a larger market share in 2021. This segment is also projected to achieve a higher CAGR of 7.1% during the forecast period.

From a product perspective, the market is divided into combination hemostats, active hemostats, and passive hemostats. The combination hemostats segment led the market in 2021 and is expected to grow at the highest CAGR of 7.3% in the coming years.

In terms of application, the market is segmented into general surgery, cardiac surgery, vascular surgery, orthopedic surgery, neuro & spine surgery, and others. The general surgery segment held the largest market share in 2021 and is projected to grow at the highest CAGR of 7.9% during the forecast period.

Regarding end users, the market is divided into hospitals and clinics, ambulatory surgery centers, and others. The hospitals and clinics segment dominated the market in 2021, while the ambulatory surgery centers segment is expected to exhibit the highest CAGR of 7.8% in the forecast period.

Impact of COVID-19 on the Global Flowable Hemostats Market

The COVID-19 pandemic prompted many healthcare systems to delay or cancel non-essential surgical procedures, including elective surgeries that do not directly address COVID-19 or are not life-saving. This situation led to a significant decline in surgical procedures, adversely affecting the flowable hemostats market. For instance, Ethicon (a subsidiary of Johnson & Johnson) projected a substantial revenue decline due to a 65% to 85% drop in surgical procedures during the second quarter of 2020. Research published in "The Journal of Plastic, Reconstructive & Aesthetic Surgery" indicated a 65% reduction in emergency surgical productivity during the lockdown in Mexico, with plastic surgery cases dropping from 1,114 in 2019 to just 393 in 2020. Consequently, the demand for flowable hemostats decreased in 2020 due to fewer surgical interventions.

To navigate these challenges, companies in the flowable hemostats market have adopted various organic and inorganic growth strategies. Organic strategies primarily involve product launches and approvals, while inorganic strategies include acquisitions, collaborations, and partnerships. These approaches enable market players to expand their operations and enhance their geographical reach, contributing to overall market growth. Notable developments in the flowable hemostats market include:

• In October 2020, Teleflex Incorporated announced its acquisition of Z-Medica, a leading manufacturer of hemostatic products, for an upfront payment of US$ 500 million, with potential additional payments based on commercial milestones.


• In October 2019, Biom'up SA received approval from the Australian TGA for its flagship product, HEMOBLAST Bellows, for use in both open and laparoscopic surgeries, targeting the expanding Australian market.

Key sources consulted for this report include the World Health Organization (WHO), the Centers for Disease Control (CDC), and the Food and Drug Administration (FDA), among others.