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Hemostasis Products Market Size

Report ID: GMI5287
Published Date: Aug 2023
Report Format: PDF

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Hemostasis Products Market Size

Hemostasis Products Market size was worth USD 1.6 billion in 2022 and is poised to record substantial growth at 5.8% CAGR from 2023-2032, driven by the escalating prevalence of cardiac disorders across the globe.

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The growing popularity of hemostasis products to ensure patient safety and positive outcomes during surgeries, interventions, and other medical procedures related to heart conditions will drive the industry gains. The increasing prevalence of cardiovascular diseases has spurred the rising demand for effective solutions to manage bleeding during cardiac procedures. Moreover, the aging population and unhealthy lifestyle trends are contributing to the expanding cardiac patient pool, driving the demand for hemostasis products. According to the American Heart Association statistics, cardiovascular disease globally accounts for more than 17.6 million deaths per year and is estimated to reach over 23.6 million by 2030. The rising number of R&D investments to enhance product efficacy, safety, and ease of use.

Hemostasis Products Market Report Attributes
Report Attribute	Details
Base Year:	2022
Hemostasis Products Market Size in 2022:	USD 1.6 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.8%
2032 Value Projection:	USD 2.8 Billion
Historical Data for:	2018 to 2022
No. of Pages:	190
Tables, Charts & Figures:	495
Segments covered:	Product, Application, End-use, and Region
Growth Drivers:	Rising prevalence of cardiac disorders worldwide Growing incidence of accidents and trauma cases across the globe Technological advancements in hemostasis products
Pitfalls & Challenges:	High expense needed for hemostasis products due to the usage of advanced technology for hemostat Lack of skilled professionals for carrying out surgical procedures

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The growing technological advancements and the rising application areas of hemostat products will contribute to the industry expansion. However, the development and incorporation of cutting-edge technologies are increasing production costs, subsequently impacting the pricing of hemostasis solutions. Nevertheless, the focus of manufacturers and stakeholders towards balancing technological advancements and affordability to ensure wider market penetration and sustained progression.

Authors: Mariam Faizullabhoy , Pratiksha Kamthe

Frequently Asked Questions (FAQ) :

Hemostasis products industry size was worth USD 1.6 billion in 2022 and is poised to record 5.8% CAGR from 2023-2032, driven by the escalating global prevalence of cardiac disorders.

Topical market accounted for USD 1.2 billion in 2022 and is estimated to record high demand through 2032 attributed to the advantages, such as ease of application, quick action, and reduced risk of complications.

North America market is expected to expand at 5.9% CAGR from 2023-2032 attributed to the presence of large geriatric population coupled with lifestyle-related factors such as obesity and sedentary habits

Some of the prominent hemostasis product companies are Johnson & Johnson, Pfizer, Baxter International, Medtronic, B. Braun Melsungen AG, Becton, Dickinson, and Company (BD), Tricol Biomedical, Hemostasis LLC, CuraMedical BV, and Teleflex Incorporated.