According to the current analysis of Reports and Data, the Hemostatic Forceps Market was valued at USD 2,409.4 Million in 2020 and is expected to reach USD 3,862.9 Million by the year 2028, at a CAGR of 6.2%. It is a surgical instrument that is used to control the flow of blood during surgical procedures. These surgical Hemostatic Forceps are used in the initial steps of surgery when an incision is performed. It can be used in various forms like sealants, topical Hemostatic Forceps, and mechanical instruments, which are meant for surgical use only. The major goal of a hemostat is the adhesion of wounds, to cease blood flow, and ensure rapid healing of the wound. The hemostat market is widely driven by the free fall in lifestyle due to which lifestyle-oriented diseases occur in many people. Various diseases, especially cardiovascular and orthopedic diseases, are treated through surgical procedures, which is extensively driving the market.
The number of reconstructive procedures, significantly tumor removal, has constantly been increasing. According to the American Society of Plastic Surgeons (ASPS), approximately 4.5 million tumor removal procedures were performed in 2020 in the US. The obesity epidemic is also increasing in the US, fueling the market. An annual report from the United Health Foundation stated that there had been a significant increase in the obesity rate of the U.S. by 5%. The obesity rate was recorded to be 29.9% in 2017, which increased to 31.3% in 2020. The geriatric population require critical care and are quite acquainted with surgical procedures. This population is widely affected by orthopedic surgeries due to a decrease in bone density. Therefore, the elderly population is widely driving the market.
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Further key findings from the report suggest
- North America is the leading consumer of the Hemostatic Forceps, further followed by the Asia-Pacific and Europe. Asia-Pacific is the fastest growing region with a CAGR of 7.0%. The increasing number of surgeries and changes in regulatory policies encourages the market in the region.
- A wide range of applications, continuous advancement in the product portfolio of companies such as Ethicon and Baxter international have widely driven the market. The products from these key players have received approval from the U.S. FDA as well as by other international organizations.
- Recently, in December 2020, Baxter introduced a surgical innovation, which, a disposable curved applicator which enhances the activity of Floseal. Floseal is a hemostat product by Baxter used for ENT procedures. This advancement has improved the efficacy of Floseal and made it the leading hemostat in the US.
- Recently, in May 2019, the FDA might loosen up the premarket expectations of certain collagen-based Hemostatic Forceps and shift them to class-II devices rather than class III devices. The recommendation was given by the general and plastic surgery devices panel. Ethicon (J&J) is against this recommendation stating that collagen-based Hemostatic Forceps are complex products and need strict controls to ensure safety.
Key Players covered in this report are
Johnson and Johnson, Baxter International, Pfizer, Integra Life Sciences, Z-Medica LLC, Abbott Laboratories, B. Braun Melsungen AG, CR Bard, Gelita Medical GmbH and Hemostasis LLC.
Product Outlook (Revenue in Million USD; 2018–2028)
- Thrombin-based Hemostatic Forceps
- Gelatin-based Hemostatic Forceps
- Collagen-based Hemostatic Forceps
- Combination Hemostatic Forceps
- Oxidized regenerated cellulose-based Hemostatic Forceps
Application Outlook (Revenue in Million USD; 2018–2028)
- General surgery
- Orthopedic surgery
- Cardiovascular surgery
- Reconstructive surgery
- Gynecological surgery
- Neurological surgery
- Other surgeries
Formulation Outlook (Revenue in Million USD; 2018–2028)
- Sheet & pad hemostat
- Sponge Hemostatic Forceps
- Matrix & gel Hemostatic Forceps
- Powder hemostat
End Use Outlook (Revenue in Million USD; 2018–2028)
- Hospitals
- Clinics
- Ambulatory centers
- Community healthcare
- Others
Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Major Points covered in this report are as below:
- An analysis of Hemostat industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.
- In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.
- In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.
- This report provides information on the market status of Hemostat manufacturers and provides valuable insight into the market for companies and individuals.
We can also provide the customized data for separate regions like North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
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