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Flowable Hemostats Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material, Product, Application, and End User

ReportLinker
·5-min read
ReportLinker
ReportLinker

The flowable hemostats market is projected to reach US$ 458. 9 million by 2028 from US$ 304. 9 million in 2022; it is expected to grow at a CAGR of 7. 1% from 2022 to 2028. Increasing number of injuries and surgical procedures drives the overall market growth.

New York, July 20, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Flowable Hemostats Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material, Product, Application, and End User" - https://www.reportlinker.com/p06295672/?utm_source=GNW
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. In England and Wales, ?1.4 million patients per year visit hospital following head injury, which is the most common reason for death under the age of 40 according to the statistics revealed by the BMJ Publishing Group Ltd. report. The prevalence of road accidents is increasing in Spain. In the country, there are around 200 cases of traumatic brain injury (TBI) per 100,000 population; ~ 10% are serious, 10% are moderate, and 80% are mild.

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 Opportunities of Flowable Hemostats Market
There is an increase in the number of hospitals and surgical centers across the world.The hospitals & clinics segment accounts a considerable market share.

Thus, there is a rising demand for surgical equipment, including medical devices and hemostat products, from newly established surgical centers and hospitals. In October 2020, the Prime Minister of the UK announced plans to invest around US$ 4.3 billion in setting of 40 hospitals and a scheme for future funding for 48 hospitals by 2030. Also, in the past decade, India and China have witnessed significant improvements in healthcare infrastructure. The Commonwealth Fund report published in 2018 states that China has ~12,000 public and 21,000 private hospitals. Moreover, according to the Statistics Bureau and Ministry of Internal Affairs and Communications report, as of October 2019, the number of hospitals in Japan accounted for 8,300, and the number of hospital beds was about 1,529,215 (1,212.1 per 100,000 people). In the fiscal year 2018, national medical care expenditure totaled US$ 0.32 trillion, 10.73% of Japan’s national income. Therefore, the rising number of hospitals and clinics is expected to offer lucrative growth opportunities for the flowable hemostats market during the forecast period.
The healthcare industry has been experiencing a rapid transformation in recent years.Various countries across the world have favored advanced technologies in healthcare.

With the need for better healthcare facilities, Technology-Enabled Care (TEC) solutions are being referred to the healthcare systems, especially in the emerging economies.A few primary factors, such as rising incidence of chronic illnesses and increasing aging population and pediatric care, boost the growth of the healthcare industry.

With rising technical procedures, the utility of topical hemostats may help improve clinical outcomes.Thus, the ideal topical hemostats would offer reliable and prompt bleeding control.

Therefore, the growth in the number of hospitals and surgical centers demands high adoption of flowable hemostat products, ultimately driving the overall flowable hemostats market growth.

American Surgery of Trauma, Association for the Advancement of Medical Instrumentation, European Union Public Health Association, and Hemophilia Treatment Center Collaboration Network of China are a few primary and secondary sources referred to while preparing the report on the flowable hemostats market.
Read the full report: https://www.reportlinker.com/p06295672/?utm_source=GNW

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