At 2.1% CAGR, the Middle East & Africa Flowable Hemostats Market is Projected to be Worth US$ 28.45 Million by 2028, says Business Market Insights
According to Business Market Insights research, the Middle East & Africa flowable hemostats market was valued at US$ 25.10 million in 2022 and is expected to reach US$ 28.45 million by 2028, registering a CAGR of 2.1% from 2022 to 2028. Research and development (R&D) activities leading to product innovations and rising geriatric population attributed to the Middle East & Africa flowable hemostats market expansion.
Hemostat products are high in demand in the healthcare industry. Over the past several years, many hemostat products have been developed and utilized in several surgical procedures. Researchers are carrying out intensive research and development activities resulting in product innovations. For Instance, In December 2019, Ethicon's (Johnson & Johnson Medical Device Companies) new product, "SURGIFLO Hemostatic Matrix." SURGIFLOW flowable hemostatic product stops bleeding while performing surgery and is faster than FLOSEAL (manufactured by Baxter). Furthermore, In January 2018, Z-Medica, LLC, a leading developer and marketer of hemostatic devices introduced QuikClot Control+ which can help save lives and fill the unmet need of hospitals across the country. QuikClot Control+ is indicated for temporary control of internal organ space bleeding for patients displaying class III or class IV bleeding. It may even be used to control severe bleeding wounds such as surgical wounds and traumatic injuries. Thus, research and development activities leading to product innovations are predicted to deliver an impetus for the growth of the overall flowable hemostats market during the forecast period.
On the contrary, shortage of skilled professionals and poor reimbursement policies hamper the Middle East & Africa flowable hemostats market.
Based on material, the Middle East & Africa flowable hemostats market is bifurcated into bovine gelatin & porcine gelatin. The bovine gelatin segment held 62.1% share of Middle East & Africa flowable hemostats market in 2022, amassing US$ 15.58 million. It is projected to garner US$ 17.89 million by 2028 to expand at 2.3% CAGR during 2022-2028.
In terms product, the Middle East & Africa flowable hemostats market is segmented into combination hemostats, passive hemostats, and active hemostats. The combination hemostats segment held 57.7% share of Middle East & Africa flowable hemostats market in 2022, amassing US$ 14.47 million. It is projected to garner US$ 16.72 million by 2028 to expand at 2.4% CAGR during 2022-2028.
Based on application, the Middle East & Africa flowable hemostats market is categorized into general surgery, cardiac surgery, vascular surgery, orthopedic surgery, neuro and spine surgery, and others. The general surgery segment held 33.3% share of Middle East & Africa flowable hemostats market in 2022, amassing US$ 8.37 million. It is projected to garner US$ 9.96 million by 2028 to expand at 2.9% CAGR during 2022-2028.
Based on end user, the Middle East & Africa flowable hemostats market is segmented into hospitals and clinics, ambulatory surgery centers, and others. The hospitals and clinics segment held 66.9% share of Middle East & Africa flowable hemostats market in 2022, amassing US$ 16.79 million. It is projected to garner US$ 18.93 million by 2028 to expand at 2.0% CAGR during 2022-2028.
By country, the Middle East & Africa flowable hemostats market has been categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 36.3% share of Middle East & Africa flowable hemostats market in 2022. It was assessed at US$ 9.11 million in 2022 and is likely to hit US$ 10.68 million by 2028, exhibiting a CAGR of 2.7% during 2022-2028.
Key players operating in the Middle East & Africa flowable hemostats market Baxter International Inc, Ethicon (Johnson & Johnson), Pfizer Inc, Teleflex Incorporated, 3-D Matrix Medical Technology, and Aegis Lifesciences, among others.
Apr-19: Baxter International announced that it has received US Food and Drug Administration (FDA) approval for faster preparation of its leading hemostatic, Floseal Hemostatic Matrix, at the 2019 Association of periOperative Registered Nurses (AORN) Global Surgical Conference and Expo. This next generation of Floseal has 20 percent fewer components and steps to prepare, 1 making it easier and faster for operating room (OR) nurses to get Floseal in the hands of surgeons to help stop bleeding during procedures.
Apr-19: Baxter International received FDA approval for its newly developed hemostat, Floseal.
Dec-19: Johnson & Johnson's Ethicon unit has launched its blood-stopping protein spray, designed to quickly seal off and control excessive bleeding during open surgeries or minimally invasive procedures. According to Ethicon, it is the first fibrin sealant designed to be used without a gas propellant. Delivered in a pre-filled syringe, the spray is designed to rapidly adhere and form a clot over the bleed and has shown clinical success in high-risk patients-such as those with multiple factors including bleeding disorders, diabetes or organ failure, or patients taking blood thinners or antiplatelet therapies.
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