HEMOSTASIS AND TISSUE SEALING AGENTS MARKET ANALYSIS

Market Challenges And Opportunities

• High cost of hemostasis and tissue sealing devices
• Availability of Alternative Wound Closure Materials
• Risks associated with hemostasis and tissue sealing products

Hemostasis and Tissue Sealing Agents Market Opportunities:

• Expansion into Emerging Economies: Emerging markets like Asia Pacific, Latin America, and Africa could present a great opportunity for growth in the hemostasis and tissue sealing agents market in the coming years. These regions are witnessing rapid economic development and a rise in disposable incomes. As a result, healthcare Infrastructure and facilities in these nations are strengthening significantly. This provides better access to advanced medical technologies and surgical procedures that utilize hemostasis and tissue sealing products. Furthermore, governments of many developing nations have implemented reforms to expand health insurance coverage and make healthcare more affordable to citizens. For instance, the Ayushman Bharat scheme launched by the Indian government in 2018 aims to cover over 500 million poor and vulnerable individuals with health insurance.
•  Development of Bio-Absorbable Hemostatic and Tissue Sealing Agents: The development of bio-absorbable hemostatic and tissue sealing agents can provide a great opportunity in the hemostasis and tissue sealing agents market. Bio-absorbable agents offer significant advantages over traditional agents as they get absorbed in the body over time and do not require removal. This reduces the procedural time and complications associated with product removal. As such, bio-absorbable agents improve patient outcomes and experiences. Several clinical studies indicate bio-absorbable agents are as effective as traditional agents in controlling bleeding and sealing tissues during surgeries. Additionally, they pose a minimal risk of post-procedure infections since the body safely absorbs these agents within days or weeks.
• Combination product offerings: Combination product offerings in hemostasis and tissue sealing agents could unlock significant opportunities in the market. With modern surgery becoming more complex, there is an increasing need for products that can efficiently and effectively achieve hemostasis as well as tissue sealing. Combination offerings that integrate these complementary capabilities into a single product will appeal greatly to surgeons and providers. By providing a more straightforward and streamlined surgical workflow, combination products allow for shorter procedure times and reduced costs. Surgeons can focus on the nuances of the surgery itself rather than toggling between separate hemostatic and sealing steps. This leads to better patient outcomes.

Hemostasis and Tissue Sealing Agents Market Trends:

• Adoption of non-invasive procedures: The healthcare industry has witnessed a significant rise in the adoption of minimally invasive and non-invasive surgical procedures over the past decade. Procedures like laparoscopy and endoscopy allow for smaller incisions and faster recovery times for patients compared to traditional open surgeries. This shift towards non-invasive options is positively impacting the hemostasis and tissue sealing agents market. As complex surgeries are increasingly performed using minimally invasive techniques, the need for effective hemostasis and tissue sealing agents to control bleeding through narrow access ports becomes even more important. Agents that can quickly seal tissues and blood vessels during such procedures help surgeons perform safer surgeries in less time.
• Shift towards Single-Use Hemostats and Glues: The shift towards single-use hemostats and glues is having a significant impact on the hemostasis and tissue sealing agents market. Hemostats and glues that are meant for single use are more convenient and help reduce the risk of infection by eliminating the need for reprocessing instruments. Many newer products entering the market are designed specifically for single use, which is becoming the preferred option, especially in minimal access surgeries. The shift has incentivized companies to innovate novel hemostats made from advanced materials as well as adopt sophisticated glues capable of rapid sealing within minutes. For instance, Ethicon (Johnson and Johnson), a medical technology company launched a new Surgicel Ultra hemostatic device in 2022 specifically formulated to aid bleed control during laparoscopic and robotic operations.
• Strategic collaborations: Strategic collaborations between companies in the hemostasis and tissue sealing agents market has become a major trend in recent years that is positively influencing market growth and dynamics. Through collaborations, companies are able to leverage each other\'s strengths and core competencies to develop innovative new products. This allows them to stay competitive and address the increasing complexity in medical needs. For instance, in March 2023, Siemens Healthineers, a multinational technology corporation signed a global Original equipment manufacturer (OEM) agreement on hemostasis products with Sysmex Corporation, a Japan based healthcare company under which each company will supply the other with their products in the diagnostic field of hemostasis on an OEM basis.
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