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Hemostasis & Tissue Sealing Agents Market Analysis | CMI

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Hemostasis & Tissue Sealing Agents Market Analysis | CMI

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. HEMOSTASIS & TISSUE SEALING AGENTS MARKET ANALYSIS • Hemostasis & Tissue Sealing Agents Market, by Product Type (Topical Hemostats & Adhesives & Tissue Sealing Agents), by End User (Hospitals, Ambulatory Surgical Centers & Home Care Settings) and by Region - Global Industry Insights and Forecast to 2025 • The global hemostasis & tissue sealing agents market was valued at US$ 3,236.2 million in 2017 and is expected to witness a robust CAGR of 8.1% over the forecast period (2017–2025).

  3. Figure 1. Global Hemostasis & Tissue Sealing Agents Market Value (US$ Mn), by Region, 2017

  4. Market Drivers • Rising number of surgical procedures coupled with increasing trauma cases to foster global Hemostasis & Tissue Sealing Agents Market • Factors such as increasing number of surgical procedures as well as rising number of road accidents are expected to significantly contribute to growth of the hemostasis and tissue sealing agents market. For instance, according to Health and Social Care Information Centre (HSCIC), surgery is one of the most important treatments offered by NHS care in the U.K., and accounted for 4.7 million admissions across multiple sectors in 2013-14. The data also suggests that the number of surgical procedures has increased by 27% between 2004 and 2014. According to Centers of Disease Control and Prevention (CDC), around 200,000 deaths were encountered in 2014, due to trauma injuries in the U.S. Increasing incidence of road accidents has led to traumatic sport injuries is a major factor fueling demand for hemostats, thereby driving the market growth. According to the World Health Organization 2016, over 50% affected in road traffic accidents were admitted in the hospitals and underwent trauma surgeries. Hemostats are used in trauma surgeries and also in various conventional surgeries such as hernia repair surgery, orthopedic, open heart and cardiovascular surgeries, and neurosurgery that involve significant blood loss, due to larger size incisions made on the body of the patient. According to the annual report of American Joint Replacement Registry (AJRR), 2016, a total of 427,181 procedures were reported for joint replacement surgeries. However, lack of favorable reimbursement policies for failure of hemostats in blood loss control as well as increasing cost of surgical procedures is expected to hinder the market growth.

  5. North America to dominate global hemostasis & tissue sealing agents owing to incorporation of newer technologies in new products and extensive research & development for the same • In terms of region, North America is the dominant in the global hemostasis & tissue sealing agents market. This is attributed to rapid development and launch of novel tissue sealing compounds and products by key players in the market in the region. For instance, in March 2018, BodeVet, Inc., a blood-related products company, introduced StablePlate RX Canine as the world’s first injectable freeze dried platelet derived product used for the treatment of acute uncontrolled hemorrhage in bleeding patients. In December 2012, Ethicon, Inc., a company offering hemostasis and sealing solutions, received U.S. FDA approval for EVARREST Fibrin Sealant patch that rapidly and reliably aids in stopping problematic bleeding during surgery. • On the other hand, Asia Pacific is expected to exhibit high growth over the forecast period, owing to rising number of surgical procedures as a result of increasing medical tourism in emerging economies such as China, Singapore, and India. For instance, according to an article published by OrthoStreams, a privately held orthopedic devices company, orthopedic surgeries in China and other emerging economies are 75% cost effective as compared procedures performed in the U.S. Additionally, rising number of road accidents in Asia Pacific region leading to trauma admissions in emergency departments also contributes to the growth of the market in the region over the forecast period. According to the Ministry of Road Transport and Highways, Government of India, the total number of persons injured in road accidents in 2015 are 500,279. These are expected to aid in growth of the market.

  6. Market players are launching innovative products to sustain their position in the global hemostasis & tissue sealing agents market • Key players in the market are focused on expansion of their presence through launch of new product lines in emerging economies. For instance, in March 2018, Baxter International, Inc. completed acquisition of two hemostat products from Mallinckrodt Plc and announced to widen its customer base through launch of RECOTHORM and PREVELEAK hemostat sealant in Japan. Moreover, players are also focusing on offering innovative products, in order to enhance their market share. For instance, in January 2018, Ethicon LLC, a part of Johnson & Johnson Medical Devices Companies, introduced SURGICEL powdered absorbable hemostat that assists to combat disruptive bleeding on broad and oozing surfaces.

  7. Key Players • Key players operating the global hemostasis & tissue sealing agents market include Cryolife, Inc. Baxter International, Inc., Ethicon LLC, Integra Lifesciences Corporation, Becton, Dickinson & Company, Cohera Medical, Inc., Pfizer, Inc., Medtronic plc, B. Braun Melsungen AG, MIL Laboratories Pvt. Ltd, Advanced Medical Solutions Group Plc, and others.

  8. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Reference : https://www.coherentmarketinsights.com/market-insight/hemostasis-and-tissue-sealing-agents-market-1567

  9. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  10. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

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