Surgical Hemostats and Internal Tissue Sealants Market to Register 8% CAGR Growth

(Newswire.net — July 26, 2017) New York City, New York — Growing need for minimally invasive surgical procedures has led to an upsurge in demand for surgical hemostats, internal tissue sealants, and adhesion barriers in healthcare institutions globally. Moreover, increasing focus on strategic collaborations among market players is likely to contribute towards growth of the global market of surgical hemostats, internal tissue sealants, and adhesion barriers. 

Factors Propelling Growth of the Global Market

Growing need for gelatin-based, and oxidized regenerated cellulose based hemostatic products has led to an upsurge in demand for surgical hemostats, internal tissue sealants, and adhesion barriers. Furthermore, manufacturers are integrating developed technologies to offer enhanced surgical sealants and adhesion barriers.

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Market players are increasingly focusing on strategic collaborations in order to narrow their distribution channels, and extend their product reach. This is likely to impact growth of the global surgical hemostats, internal tissue sealants, and adhesion barriers market positively during the predicted period.

Hemostats to Remain a Leading Segment

Hemostats among other products is likely to remain dominant in the global surgical hemostats, internal tissue sealants, and adhesion barriers market during the projected period. This segment will reach a value of US$ 2.2 billion in the global surgical hemostats, internal sealants, and adhesion barriers market by 2024–end. Moreover, this segment will witness an increase by 1.9X by 2024, however will register a relatively low CAGR by the end of 2024.

Hospitals among other end users are likely to represent a leading segment in the global surgical hemostats, internal tissue sealants, and adhesion barriers market during the projected period. This segment will register a CAGR growth of 9% in the global market throughout 2024. Further, attributed to relatively low cost procedures related to the application of hemostats, growth of the global market for surgical hemostats, internal tissue sealants, and adhesion barriers market will witness a significant growth by the end of 2024.

North America to Represent a Dominant Market

North America among other regions will represent a major market share in the global market of surgical hemostats, internal tissue sealants, and adhesion barriers by the end of 2024. The market of surgical hemostats, internal tissue sealants, and adhesion barriers market in North America will create an incremental opportunity of nearly US$ 1,642 million through 2024. In terms of revenue, the Europe market of surgical hemostats, internal tissue sealants, and adhesion barriers is likely to reach US$ 1.2 billion by the end of 2024. France, Germany, and U.K., among other countries will represent the leading markets in Europe during the predicted period. Surge in the number of cardiovascular surgeries in countries such as Japan, Australia, and China is likely to underscore beneficial opportunities for the market in Europe, and APAC by 2024 end.

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Market Players

Major market players operating in the global surgical hemostats, internal tissue sealants, and adhesion barriers market include Tissuemed Ltd., Baxter international Inc., B. Braun Melsungen AG (Asculap), C.R. Bard Inc. (Davol Inc.), Cryolife Inc., Ethicon Inc. (Johnson & Johnson), Integra LifeSciences Holdings Corporation, Cohera Medical, Inc., CSL Behring (CSL Ltd.), and Pfizer Inc., Sanofi. Key market players operating in the global market of surgical hemostats, internal tissue sealants, and adhesion barriers are mainly focusing on entering into strategic mergers and acquisitions in order to get a competitive edge over other market players.