At 7.0% CAGR, the North America Flowable Hemostats Market is Projected to be Worth US$ 742.49 Million by 2028, says Business Market Insights
According to Business Market Insights research, the North America flowable hemostats market was valued at US$ 494.74 million in 2022 and is expected to reach US$ 742.49 million by 2028, registering a CAGR of 7.0% from 2022 to 2028. Increasing number of injuries and surgical procedures and rising geriatric population attributed to the North America flowable hemostats market expansion is among the critical factors attributed to the Asia Pacific consent management market expansion.
Injuries are still a significant concern to public health. An increase in global trauma and accident cases is a major driver of the North America Flowable hemostats market. According to World Health Organization (WHO), annually approximately 1.3 million people cut short their lives because of a road traffic crash. Between 20 to 50 million people suffer non-fatal injuries, with many incurring a disability because of their injury. Globally, hemorrhage or excessive bleeding is responsible for over one-third of pre-hospital deaths and over 40% of deaths within the first 24 hours. Furthermore, a study conducted by the U.S. Armed Forces suggested that 25% of battlefield fatalities are medically preventable. Nearly 90% of these deaths are due to uncontrolled blood loss. This resulted in a rising number of surgical procedures. The number of surgeries is rising owing to the increasing musculoskeletal disorders related with sports, occupational injuries, and age-related dysfunction. However, a substantial proportion of health gains are lost owing to sports-related injuries. Moreover, team ball sports account for almost 40% of hospital-treated sports injuries BMJ Publishing Group Ltd. report. Concussions are a major cause of mortality and morbidity and are considered the most diffuse brain injuries accountable for inducing mental status alterations. Thus, increasing number of injuries and surgical procedures are responsible for the high adoption of flowable hemostats, thereby driving the market's growth during the forecast period.
On the contrary, shortage of skilled professionals and poor reimbursement policies hamper the North America flowable hemostats market.
Based on material, the North America flowable hemostats market is bifurcated into bovine gelatin & porcine gelatin. The bovine gelatin segment held 61.9% share of North America flowable hemostats market in 2022, amassing US$ 306.30 million. It is projected to garner US$ 465.52 million by 2028 to expand at 7.2% CAGR during 2022-2028.
In terms product, the North America flowable hemostats market is segmented into combination hemostats, passive hemostats, and active hemostats. The combination hemostats segment held 55.9% share of North America flowable hemostats market in 2022, amassing US$ 276.67 million. It is projected to garner US$ 423.29 million by 2028 to expand at 7.3% CAGR during 2022-2028.
Based on application, the North America 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 34.6% share of North America flowable hemostats market in 2022, amassing US$ 171.32 million. It is projected to garner US$ 271.55 million by 2028 to expand at 8.0% CAGR during 2022-2028.
Based on end user, the North America flowable hemostats market is segmented into hospitals and clinics, ambulatory surgery centers, and others. The hospitals and clinics segment held 67.7% share of North America flowable hemostats market in 2022, amassing US$ 335.10 million. It is projected to garner US$ 499.63 million by 2028 to expand at 6.9% CAGR during 2022-2028.
By country, the North America flowable hemostats market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.8% share of North America flowable hemostats market in 2022. It was assessed at US$ 419.40 million in 2022 and is likely to hit US$ 638.27 million by 2028, exhibiting a CAGR of 7.2% during 2022-2028.
Key players operating in the North America flowable hemostats market Baxter International Inc, Ethicon (Johnson & Johnson), Pfizer Inc, Teleflex Incorporated, 3-D Matrix Medical Technology, Biom'up, and Aegis Lifesciences, among others.
In April 2019, The 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.
In Dec-19, Johnson and 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's 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.
Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com
