Flowable Hemostats Market Analysis

Flowable Hemostats Market Analysis

Based on origin, the market is segmented into bovine and porcine. The bovine segment dominated the market is 2023 and accounted for USD 419.2 million.
 

• Bovine origin products have been widely used in surgical procedures due to their effectiveness in promoting hemostasis. These products are known for their rapid action and ability to control bleeding in various surgical settings, including cardiovascular, orthopedic, and general surgeries.
   
• Additionally, these products are often preferred for their biocompatibility and safety profile, making them suitable for use in a wide range of patients.
   
• Thus, the established efficacy and safety of bovine origin products, along with their availability and cost-effectiveness, contribute to their dominant position in the market.
   

Based on application, the flowable hemostats market is segmented into general surgery, cardiovascular surgery, orthopedic surgery, gynecological surgery, neurosurgery, reconstructive surgery, and other applications. The orthopedic surgery segment dominated the market with 18.6% of market share in 2023.
 

• The increasing number of orthopedic surgeries, fueled by factors such as the rising prevalence of orthopedic disorders, sports injuries, and the aging population, is driving the demand for flowable hemostats.
   
• For instance, statistics show that in 2022, around 18,577,953 orthopedic procedures were performed in the U.S.
   
• Additionally, advancements in hemostatic agents, such as improved efficacy and reduced risk of adverse effects, are further contributing to their growing adoption in orthopedic surgeries, solidifying their prominent market position.
   

Based on end-use, the flowable hemostats market is categorized into hospitals & clinics, Ambulatory Surgical Centers (ASC’s), and other end-users. The hospitals & clinics segment dominated the market in 2023 and is predicted to grow at CAGR of 5.8% over the forecast period.
 

• Hospitals & clinics serve as the primary settings for surgical procedures, where hemostats are commonly used to control bleeding. The high volume of surgical procedures performed in hospitals and clinics, ranging from routine surgeries to complex interventions, contributes to the substantial demand for flowable hemostats.
   
• Additionally, the increasing prevalence of chronic diseases and the rising number of surgical interventions globally are driving the adoption of these hemostats in hospitals and clinics, thereby contributing the segment growth.

North America flowable hemostats market is anticipated to grow at a CAGR of 5.4% over the forecast years to reach USD 404.8 million by 2032.
 

• The region boasts a well-established healthcare infrastructure and a high adoption rate of advanced medical technologies, contributing to the increased use of flowable hemostats in various medical procedures.
   
• Additionally, the presence of leading market players and their focus on research and development activities for innovative product launches further propels market growth in North America.
   
• Moreover, favorable reimbursement policies and a growing number of surgical procedures in the region also contribute to the high market share of North America in the market.
   

U.S. flowable hemostats market was valued at USD 232.7 million in 2023.
 

• The U.S. holds a significant market share in the market, largely due to its advanced healthcare infrastructure, high adoption rates of advanced medical technologies, and robust research and development activities in the medical field.
   
• Further, the country's large population, coupled with a high prevalence of chronic diseases and a growing number of surgical procedures, drives the demand for flowable hemostat.
   

Germany has emerged as a key player in the global market for flowable hemostats, showcasing high growth potential.
 

• Factors such as the rising prevalence of chronic diseases, increasing number of surgeries, and advancements in healthcare infrastructure are driving the demand for flowable hemostats in the country.
   
• Additionally, Germany's strong healthcare system, with a focus on quality care and technological innovation, is further propelling market growth.
   
• Moreover, the growing adoption of minimally invasive surgical procedures, which often require flowable hemostats for effective hemostasis, is contributing to the expanding market size.
   

India flowable hemostats market is anticipated to witness lucrative growth between 2024 – 2032.
 

• India has emerged as a promising market for flowable hemostats, showing significant growth potential. Several factors contribute to this trend, including the increasing prevalence of chronic diseases which often require surgical interventions.
   
• Moreover, the rising geriatric population in India is driving the demand for surgical procedures, further fueling the need for flowable hemostats.
   
• Furthermore, the rise in disposable incomes and the expanding middle class are expected to boost the demand for quality healthcare services, including surgical interventions, thereby creating a conducive environment for the growth of the market in India.