29 October 2020
Visiongain has published a new report on Hemostats and Sealants Market Report : Forecasts by Product (Topical Haemostat, Adhesives & Tissue Sealant). PLUS Profiles of Leading Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Hemostats and Sealants market was valued at US$ xx billion in 2020 and is projected to reach at a market value of US$ xx billion by 2031. Growth in elderly population and occurrence of chronic conditions is one of the factors rendering drivers. Rise in the demand supported by growing number of surgical processes, is also driving the market growth during the forecast period.
COVID-19 Impact on Hemostats and Sealants Market
The COViD-19 has many industries globally. Some of the industries are growing which includes healthcare, pharmaceuticals, and emergency medical services. All these industries are positively impacted towards the growth owing to the spread of uncontrollable pandemic of COViD-19. The Hemostats and Sealants market is directly allied to the medical services which is in-turn is paved towards the growth due to the requirement of haemostatic and sealant tools for the geriatric population.
Rise in the occurrences of chronic conditions of elderly population has boosted the growth of the Hemostats and Sealants market, globally. According to the Centres for Disease Control and Prevention (CDC) statistics, over 45% of American population suffers from at least one chronic condition needing critical care. Thus, these factors are impacting the market towards a positive growth.
Increase in the number of surgical procedures, nowadays have in-turn boosted the demand for Hemostats and Sealants products, globally during the forecast period.
Global Hemostats and Sealants market has given rise to a convenience of more treatment options for medical professionals. The modernized medical & surgical tools and developed technologies in the healthcare segment is enabling numerous opportunities for the Hemostats and Sealants Market towards growth.
Major players in the Hemostats and Sealants marketinclude CryoLife, C. R. Bard, B. Braun, and Advance Medical Solutions Group, Pfizer among others.
Pfizer is expected to gain share on the owing to its acquisition of King Pharmaceuticals, which has been a major contributor to the market. Calculated trends expected to be followed by the players include collaborations with hospitals and care centres, R&D in the field of formulation development, incorporation of bacteriostatic properties, and aggressive marketing plans for natural adhesives, especially fibrin sealants.
Companies are also involved in mergers and acquisitions intended at ensuring sustainability and expanding geographicalexistence. For instance, in January 2015; B. Braun signed a contract with Cohera Medical Inc. for the distribution of TissuGlu in Germany, Portugal, and Spain. B. Braun is anticipated to endorse the product through its various commercial channels in all the three regions of Europe.
Companies such as Advanced Medical Solutions Group plc own direct sales force team in Germany, U.K., and Russia to effectively market the products in Europe. Companies are now introducing cost effective Hemostasis and tissue sealing agents to expand their customer base and this expected to contribute to the rising demand from emerging countries.
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