Hemostasis and Tissue Sealing Agents Market, By Product Type (Topical Hemostats & Adhesives and Tissue Sealing Agents), By Application (Cardiovascular Surgery, Orthopedic Surgery, General Surgery, Neurosurgery, and Others), By End User (Hospitals, Ambulatory Surgical Centers, and Home Care Settings), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Dec 2023

Code : CMI1567

Pages :180

Formats :

Excel and PDF

Industry : Medical Devices

Hemostasis And Tissue Sealing Agents MarketSize and Trends

The global hemostasis and tissue sealing agents market size is valued at US$ 3.39 Billion in 2023 and is expected to reach US$ 4.95 Billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 5.6% from 2023 to 2030.

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.