The Hemostatic Gels Market was valued at US$ 957.1 million in 2021, and by 2032, it is projected to grow at a CAGR of 6.8% to reach US$ 1.9 billion. A recent analysis by Future Market Insights indicates that porcine-based hemostatic gels would dominate the market in 2021 with a market share of about 45%.
The growing use of hemostatic gels during surgical operations to control blood loss is driving up demand for efficient hemostatic gels. Furthermore, the increasing frequency of chronic disorders necessitates the use of these gels.
According to the Centers for condition Control and Prevention (CDC), more than 45% of Americans have at least one chronic condition that necessitates surgical intervention.
Globally, around 2,000,000 people die from hemorrhage each year, out of which approximately 1,500,000 deaths are due to trauma injuries. Similarly, every year almost 60,000 people die in the U.S. due to hemorrhaging and blood loss. These figures indicate the need for hemostatic gels during surgical procedures to improve clinical outcomes.
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Key Takeaways:
- Based on product type, sales of porcine-based hemostatic gels are expected to grow at a 5.7% CAGR through 2032.
- In terms of indication, the cardiovascular surgery segment is expected to account for 33.1% of the total market share over the assessment period.
- By end user, demand for hemostatic gels across hospitals will increase at a 5.4% CAGR during the forecast period.
- The U.S. dominated the North America hemostatic gels market in 2021, holding 82% of the total market share.
- Demand for hemostatic gels in India is forecast to grow at a 7.4% CAGR over the assessment period.
- Sales in the U.K. hemostatic gels market are expected to increase at a 7.1% CAGR through 2032.
- China will emerge as a lucrative pocket, with demand growing at an 8% CAGR over the forecast period.
“Rising adoption of effective hemostatic gels across various industries for the protection of the workforce is expected to fuel demand in the market. In addition to this, rising awareness regarding the usage of hemostatic gels for blood loss management across emerging economies will augment the growth in the market,” says an FMI analyst
Clotting agents are medical devices used to stop bleeding in a variety of clinical settings, including surgical procedures, emergency situations, and trauma care. These gels work by promoting the clotting process, which is essential to prevent excessive blood loss.
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Competition Landscape
Key players operating in the hemostatic gels market are adopting strategies such as product launches, mergers & acquisitions, joint ventures, and R&D activities to improve their global presence. For instance:
- In 2019, Baxter International, Inc. introduced Floseal Hemostatic Matrix, its new hemostatic agent. Floseal Hemostatic Matrix U.S.FDA approved and is used to stop bleeding during surgical procedures.
- In 2021, Medcura, Inc. together with ASO LLC launched Rapid-Seal, a new class of antibacterial hemostatic gel. This product meets the market demand for a transparent gel that will be easily applied during surgeries.
Key Companies Profiled:
- Baxter
- Bio-Chem LLC
- Clinician’s Choice Dental Products Inc.
- Cresilon, Inc.
- DSI Ltd.
- ENDOVISION CO., LTD
- Ethicon US, LLC
- F&A Medical
- PrevestDenPro
- Septodont
- Teleflex Incorporated
- Ultradent Products Inc. All
- VladMiVa
- Medcura, Inc.,
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Key Market Segments Covered In Hemostatic Gels Industry Research
By Material:
- Bovine-Based
- Porcine-Based
- Polymer-Based
By Indication:
- General Surgery
- Dental Surgery
- Veterinary Surgery
- Cardiovascular Surgery
- Orthopaedic Surgery
- Others
By End-User:
- Hospitals
- Speciality Clinics
- Veterinary Settings
- Ambulatory Surgical Centers
- Online Sales
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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