In a recent study, Transparency Market Research presents insights into the factors driving and restraining the global hemostasis and tissue sealing agents market. As per the in-depth research conducted for the study, the global market for hemostasis and tissue sealing agents, which stood at US$3 bn in 2013, is expected to reach US$5.2 bn by the end of 2020, exhibiting a positive CAGR of 8.0% between 2014 and 2020. The report is titled “Hemostasis and Tissue Sealing Agents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”.
The hemostasis and tissue sealing agents market mainly comprises advanced medical devices used for wound care or to cease hemorrhages that may occur during surgeries. Due to the recent launch of technologically advanced hemostat products, experts predict positive growth for the global hemostasis and tissue sealing agents market in the near future. The market, according to the report, will also benefit from the aggressive marketing strategies adopted by the most prominent companies to accelerate their market penetration.
Leading companies such as Advanced Medical Solutions Group, for instance, commercialize their products through a significantly widespread network of regional and overseas partners across more than sixty countries worldwide. Plus, the company owns direct sales force teams stationed in major economies such as Germany, the Czech Republic, Russia, and the U.K., which helps the company target the most lucrative markets in this niche category. Likewise, the rising geriatric population, which is more vulnerable to chronic illnesses, also fuels demand from the global hemostasis and tissue sealing agents market. While this may be a snapshot of the most crucial information relating to the market, the report illustrates every factor impacting the market’s growth trajectory in detail.
For the purpose of the study, the report segments the global hemostasis and tissue sealing agents market into adhesives and tissue sealing agents and hemostats, on the basis of product type. According to the survey conducted in making this report, the adhesives and tissue sealing segment is anticipated to witness a robust CAGR over the report’s forecast period. The segment comprising adhesives and tissue sealing agents is further classified into synthetic tissue sealants, adhesion barrier products, and natural tissue sealants.
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Regionally, the global market for hemostasis and tissue sealing agents is segmented into Asia Pacific, Europe, North America, and Rest of the World. Of these regions, North America accounted for the largest share in the market in 2013 and is most likely to continue its dominance through the report’s forecast period. According to a lead TMR analyst, “Growing prevalence of cardiovascular diseases in the region, coupled with increasing incidence of pulmonary surgeries, is the primary factor fuelling demand from the global hemostasis and tissue sealing agents market”.
Likewise, the Europe market, according to the report, held the second largest share in the market and will exhibit a positive CAGR of 7.0% during the forecast period. Apart from the growing geriatric population in the region, the launch of innovative and advanced hemostat products such as TISEEL, FLOSEAL, and HEMOPATCH and others is anticipated to fuel demand from the Europe hemostasis and tissue sealing agents market. Asia Pacific, according to the report, will also emerge as a lucrative market for hemostasis and tissue sealing agents due to the prevalence of cost-effective measures and liberal regulatory policies in the region.
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