Hyderabad, India -- (SBWire) -- 02/27/2018 --Hemostat is a surgical tool used to control hemorrhage during surgery. Hemostats are applied by the means of tissue sealants and tissue adhesion agents. Tissue sealants and adhesives are primarily classified into two types particularly, physical agents and biological substrates. Tissue sealants, tissue adhesives and adhesion prevention products are quickly replacing standard sutures for wound and incision closure. benefits of tissue sealants, tissue adhesives and adhesion prevention products over standard suture involve minimal invasive application, improve visualization, reduced operational time, prevention of leakage of non-blood fluids and reduced post-operative infection risks and thereby reduction in hospital stays and overall medical prices.
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The global Hemostats market is estimated to have a value of USD 3 billion in 2017. With a CAGR of 6.2%, the market size is expected to grow rapidly to cross USD 4.05 billion by 2022. The market growth apart from the variety of applications can be attributed to the product portfolio continuous advancements and favorable insurance policies made by governments to promote the market.
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The thrombin-based hemostats segment due to its effectiveness and reasonable cost have led to its highest occupancy of the global market share. The demand for Gelatin based topical hemostats is rapidly increasing due to its low cost compared to others and its ease of use as they are available in powder form.
The hemostats segment presently dominates this market and accounts for an impressive market share of around 60%. The recent increase in aging population and also the high prevalence of blood disorders among the general population are major important factors which will fuel the demand for the hemostats products during the next few years.
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As of now, North America with its advanced cutting-edge healthcare technologies, sophisticated health care and the increased number of surgical procedures accounts for the largest share of global hemostats market, followed by Europe and the Asia Pacific with Asia – Pacific as the fastest growing.
The major market contributors for the global atrial fibrillation market are 3M, ADCO Global, Inc., Abbott Laboratories. Other players in the market include Advanced Medical Solutions Group, Plc. and Dymax Corporation.
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