Bovine Gelatin Segment to Lead Flowable Hemostats Market

According to our new research study on "Flowable Hemostats Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Material, Product, Application, and End User," the market is expected to grow from US$ 899.51 million in 2021 to US$ 1,422.78 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2022 to 2028. The increasing incidence of injuries and surgical procedures and the rising geriatric population drive the market.

Increasing Number of Injuries and Surgical Procedures Achieving hemostasis is a critical focus of clinicians working in the surgical setting, given that uncontrolled surgical bleeding is associated with increased mortality rates and higher costs of care. According to the World Health Organization (WHO), approximately 1.3 million deaths are registered every year as a result of road accidents. Further, 20-50 million people suffer nonfatal injuries, with many incurring a disability as a result of their injuries. According to the National Library of Medicine, hemorrhage or excessive bleeding is responsible for over one-third of prehospital deaths and over 40% of deaths within the first 24 hours. Moreover, a study titled "25% Of the War Deaths Medically Preventable," conducted in February 2022 by the US Armed Forces, suggested that 90% of battlefield deaths are preventable with the aid of correct treatment for "bleed-outs," whereas 25% of battlefield fatalities are medically preventable, As a result, the number of surgical procedures has increased.

The number of surgeries is also growing owing to the increasing number of musculoskeletal disorders related to sports, occupational injuries, and age-related dysfunction. According to the BMJ Publishing Group Ltd. report, ~4.5 million people aged 15 years and older are treated annually in hospitals in European Union (EU) for sports-associated injuries. Furthermore, ball sports account for ~40% of hospital-treated sports injuries. Concussions are a major cause of mortality and morbidity and are considered the most diffuse brain injuries accountable for inducing mental status alterations. In England and Wales, ?1.4 million patients annually visit the hospital due to head injury, which is the most common reason for death under the age of 40, according to the same report.

The National Library of Medicine report states that China has a large base of patients with agonizing traumatic brain injury (TBI) compared to other countries, making this condition a major public health concern. Thus, an increasing number of injuries and surgical procedures are responsible for the high adoption of flowable hemostats, driving the global market.

Baxter International Inc, Teleflex Incorporated, Ethicon (Johnson & Johnson), Biom'up, Pfizer Inc., Aegis Lifesciences, and 3-D Matrix Medical Technology are among the leading companies operating in the global flowable hemostats market.

The report segments the global flowable hemostats market as follows:

Based on material, the global flowable hemostats market is bifurcated into bovine gelatin and porcine gelatin. The bovine gelatin segment held a larger market share in 2021. Moreover, the same segment is anticipated to register a higher CAGR of 7.1% during the forecast period. Based on product, the global flowable hemostats market is segmented into combination hemostats, active hemostats, and passive hemostats. The combination hemostats segment held the largest market share in 2021. Moreover, the same segment is anticipated to register the highest CAGR of 7.3% during the forecast period. Based on application, the global flowable hemostats market is segmented into general surgery, cardiac surgery, vascular surgery, orthopaedic surgery, neuro & spine surgery, and others. The general surgery segment held the largest market share in 2021. Moreover, the same segment is anticipated to register the highest CAGR of 7.9% during the forecast period. Based on end user, the global flowable hemostats market is segmented into hospitals & clinics, ambulatory surgery centers, and others. The hospitals & clinics segment held the largest market share in 2021. However, the ambulatory surgery centers segment is anticipated to register the highest CAGR of 7.8% during the forecast period.

Based on geography, the global flowable hemostats market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. The North America flowable hemostats market is further segmented into the US, Canada, and Mexico. The flowable hemostats market in Europe is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe. The APAC flowable hemostats market is segmented into China, India, Japan, South Korea, Australia, and the Rest of APAC. The flowable hemostats market in the MEA is further segmented into Saudi Arabia, South Africa, the UAE, and the Rest of the MEA. The South & Central America flowable hemostats market is segmented into Brazil, Argentina, and the Rest of South & Central America.

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