Hemostats Market Size, Trends and Growth Analysis by 2027

The global hemostats market is projected to grow significantly, reaching an estimated US$ 3,557.41 million by 2027, up from US$ 2,206.00 million in 2019. This growth represents a compound annual growth rate (CAGR) of 6.3% from 2020 to 2027.

The expansion of the hemostats market can be largely attributed to several key factors. These include the rising number of surgical procedures, an increase in sports-related injuries, and ongoing technological advancements that facilitate the introduction of innovative products into the market. However, the lack of reimbursement options for hemostatic agents may hinder market growth. Conversely, emerging markets present significant growth opportunities that could positively influence the global hemostats market during the forecast period.

The increase in sports injuries is particularly notable among weekend athletes, professional sports players, and children engaged in various activities. Most sports injuries are orthopedic in nature, leading to conditions such as swelling, pain, strains, sprains, fractures, and ligament tears. These injuries can be categorized into acute and chronic types, often resulting from participation in sports like soccer, cricket, basketball, rugby, and athletics. For example, data from the F?d?ration Internationale de Football Association (FIFA) indicates that soccer is a leading cause of sports injuries. In cricket, bowlers frequently sustain injuries due to the repetitive motions involved in their sport, affecting their legs, elbows, and shoulders. Common injuries include impingement syndromes, rotator cuff tears, ankle sprains, and medial ligament injuries of the elbow. Statistics suggest that approximately 10% of cricketers may experience injuries at any given time, with fast bowlers accounting for around 15% of these incidents. Given these insights, it is anticipated that the hemostats market will witness favorable growth in the coming years.

In terms of product segmentation, the global hemostats market is divided into Standalone Systems and Integrated Systems. As of 2019, Standalone Systems dominated the market share. However, the Integrated Systems segment is expected to experience the fastest growth rate in the near future, driven by the increasing adoption of these systems worldwide.

Further categorizing the market by product type, the hemostats are segmented into thrombin-based hemostats, combination hemostats, gelatin-based hemostats, collagen-based hemostats, and oxidized regenerated cellulose-based hemostats. In 2019, thrombin-based hemostats held the largest market share. The ability to produce thrombin as a recombinant product minimizes the risk of antibody development and offers various advantages, contributing to the segment's leading position.

Key sources of information for this report on hemostats include reputable organizations such as the Centers for Disease Control and Prevention (CDC), the U.S. Food and Drug Administration (USFDA), the Central Intelligence Agency (CIA), and the National Clinical Database, among others.

In summary, the hemostats market is on a growth trajectory fueled by an increase in surgical procedures and sports injuries, alongside technological innovations. While challenges such as reimbursement issues exist, the potential for growth in emerging markets and the ongoing development of new products present a promising outlook for the industry.