Insights on the Flowable Hemostats Global Market to 2028 - Featuring Baxter International, Teleflex and Pfizer Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--Sep 26, 2022--

The "Flowable Hemostats Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Material, Product, Application, and End-user" report has been added to ResearchAndMarkets.com's offering.

The flowable hemostats market is projected to reach US$ 458.9 million by 2028 from US$ 304.9 million in 2022.

Increasing number of injuries and surgical procedures drives the overall market growth. Research and development (R&D) activities coupled with product innovations act as a future trend in the flowable hemostats market. The flowable hemostats market is segmented into Europe, China, and Japan.

Injuries are a significant concern to public health in Europe. The BioMed Central Ltd. report states that across all European countries in 2019, 109.7 million people sustained injuries that required healthcare services, and around 458,669 people died from injuries. As a result, the number of surgical procedures is rising in Europe. The National Library of Medicine report states that about 10% of patients undergoing surgery in the UK have a high risk of complications accounting for 80% of postoperative deaths.

The number of surgeries is increasing owing to rising musculoskeletal disorders associated with sports, age-related dysfunction, and occupational injuries. However, a sizeable proportion of health gains are lost owing to sports-related injuries. According to the BMJ Publishing Group Ltd. report, about 4.5 million people aged 15 years and above are treated annually for sports-associated injuries in the EU hospitals.

Moreover, the report also states that team ball sports account for almost 40% of hospital-treated sports injuries. Concussions are a major cause of mortality and morbidity. Concussions are considered the most diffuse brain injuries responsible for inducing mental status alterations.

The National Library of Medicine report states that China has a large base of patients suffering from traumatic brain injury (TBI) compared to other countries, making this condition a major public health concern. Such factors are responsible for the high adoption of flowable hemostats, ultimately driving the market growth.

The flowable hemostats market is segmented on the basis of material, product, application, and end user. Based on material, the flowable hemostats market is bifurcated into porcine gelatin and bovine gelatin. The bovine gelatin segment is estimated to hold a larger market share during 2022-2028.

Also, the same segment is likely to register a higher CAGR during the forecast period. Bovine gelatin is a protein-based product produced by partial hydrolysis of collagen. The collagen material is extracted from bovine tissue, such as bone and skin. The product has hemostatic properties and is used in admixture with thrombin to provide an excellent hemostat result. The increasing number of cardiovascular surgeries along with the geriatric population drives the flowable hemostat market growth for the bovine gelatin segment. Also, manufacturers are focusing on the manufacturing of innovative products.

For example, FloSeal, a product manufactured by Baxter Fremont, is composed of bovine gelatin matrix, calcium chloride, and human plasma thrombin. When this product is applied to superficial wounds or surgical sites, gelatin granules absorb blood and swell and produce a hemostat effect. Thus, aforementioned factors are driving the market for the bovine gelatin segment.

Market Dynamics

Drivers

• Increasing Injuries and Surgical Procedures
• Rising Geriatric Population

Restraints

• Poor Reimbursement Policies and Shortage of Skilled Professionals

Opportunities

• Increasing Hospitals and Surgical Centres

Future Trends

• Research and Development (R&D) Activities Coupled With Product Innovation

Companies Mentioned

• Ethicon (Johnson and Johnson Services, Inc.)
• Baxter International
• Teleflex Incorporated
• Pfizer Inc.
• Symatese
• BD
• B. BRAUN

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