We have an updated report [Version - 2024] available. Kindly sign up to get the sample of the report.
all report title image

INDIA HEMOSTAT MARKET ANALYSIS

India Hemostat Market, By Product Form (Mechanical, Flowable), By Product Base (Gelatin, Cellulose), By Application (Surgeries, Trauma Cases), By End User (Hospitals, Ambulatory Surgical Centers, Clinics)-

  • Published In : Jun 2023
  • Code : CMI3524
  • Pages :140
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

The India hemostat market is estimated to be valued at US$ 81.5 Mn in 2023 and is expected to exhibit a CAGR of  5.4 % during the forecast period (2023-2030).

Analysts’ Views on India hemostat market:

For the introduction of additional therapies, the key market players are focusing on adoption of growth strategies such as acquisitions. It is expected to drive the India hemostat market over the forecast period. For instance, on April 22, 2022, Healthium Medtech, a company focused on products used in surgical, post-surgical and chronic care, launched AbGel-is a surgical  that can be absorbed. It is frequently used as a hemostatic in surgeries for abdominal, dental, ENT, gynecological, neuro, and oncological conditions.

Figure 1. India Hemostat Market Share (%), by Product Form 2023

INDIA HEMOSTAT MARKET

To learn more about this report, Request sample copy

India hemostat market– Driver

Government initiatives to perform free surgeries

The burden of treatment of poor , urban-poor and the needy people, the rise in surgical demand and the trend towards hemostats are all driving the market expansion under study. For instance, in November 2020, the Odisha government signed a memorandum of understanding (MoU) with the Prasanti Medical Services and Research Foundation (PMSRF), which is based in Gujarat, India, to provide free pediatric cardiac treatment to needy children and adults in the state. Following the signing of the MOU, the healthcare facility successfully treated 1,200 pediatric cardiac patients and adult cardiac patients from 2018 to 2022. Free therapy will incorporate all pre and post clinical analysis and examinations at medical clinic, cost of a medical procedure, all pre and post-employable consideration at medical clinic required drugs during hospitalization ICU charges, consumables and inserts, surgicals, stents, etc.

Figure 2. India Hemostat Market Share (%), by Product Base 2023

INDIA HEMOSTAT MARKET

To learn more about this report, Request sample copy

 Rise in strategic activities will drive market growth

The lucrative market growth will result from strategic activities including product launches, mergers & acquisitions, collaborations, and others. For instance, in July 2021 Baxter., a worldwide clinical items organization, reported its Baxter Medical services Company auxiliary has completed the acquisition of PerClot Polysaccharide Hemostatic Framework from CryoLife, Inc (A subsidiary of Artivion Inc.)- a distributor of cryogenically preserved human tissues for cardiac and vascular transplant applications. By addressing a wide range of intraoperative bleeding with both active and passive hemostatic solutions, PerClot further enhances their capacity to optimize patient care and assists surgeons in selecting the appropriate product for the appropriate bleed. This culture of takeovers and acquisition will lead to competition in India hemostat market, draw more patients and propel the market to significant growth.

India hemostat market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with the transportation of drugs from one place to another.

However, the COVID-19 pandemic had a negative impact on the India hemostat market. For instance, according to an article in PubMed--a free search engine for biomedical and life science data bases, from May 2022, a survey was conducted in tertiary care hospitals across India. It was mentioned in this survey, that 41.7% performed both laparoscopic and open procedures equally, with 41.1% practicing primarily laparoscopically. Prior to the lockdown, surgeons across India reported a mean of 26 outpatient consultations per day and 42 elective surgeries per month. Post lockdown, 36.5% answered to have totally halted short term administrations, 63.5% specialists had a decrease in their administrations, and half answered to have begun web-based counsels. Among those proceeding with meetings, normal everyday counsels decreased to 4 patients each day. Thus, the COVID-19 era had a significant impact on Hemostat market and its expansion during the pandemic.

India hemostat market Report Coverage

Report Coverage Details
Base Year: 2022 Market Size in 2023: US$ 81.5 Mn
Historical Data for: 2018 to 2021 Forecast Period: 2023 to 2030
Forecast Period 2023 to 2030 CAGR: 5.4 % 2030 Value Projection: US$ 117.5 Mn
Geographies covered:  
Segments covered:
  • By Product Form: (Mechanical, Flowable)
  • By Product Base: (Gelatin, Cellulose)
  • By Application: (Surgeries, Trauma Cases)
  • By End User: (Hospitals, Ambulatory Surgical Centers, Clinics)
Companies covered:

Ethicon Inc.(a subsidiary of Johnson & Johnson Services,Inc.), Aegis Lifesciences. Eucare Pharmaceuticals (P) Ltd., Baxter , Axio Biosolutions Pvt Ltd, and Mil Laboratories Pvt Ltd.

Growth Drivers:
  • Insurance reimbursements by Government of India.
  • Continuous product launches by key players.
Restraints & Challenges:
  • Expensive technology for advanced surgereries.
  • Lack of awareness of bleeding disorders.

Uncover macros and micros vetted on 75+ parameters: Get instant access to report

India hemostat market Segmentation:

The India hemostat market report is segmented into, product form, product base, and end user.

Based on Product form, the market is segmented into mechanical and flowable. Out of which, the mechanical segment is expected to dominate the India hemostat market over the forecast period, and this is attributed to the ease of use of product form.

Based on Product base, the market is segmented into gelatin, celllulose. Out of which, cellulose segment is expected to dominate the market over the forecast period and this is attributed to rapid wound healing of .

Based on End User, the market is segmented into Hospitals, Ambulatory Surgical Services and clinics. Out of which, the hospital segment is expected to dominate the market over the forecast period, and this is attributed to the increase in surgeries, developments in medical accessories and instruments, and doctors' control over the selection of such facilities.

India hemostat market Cross Sectional Analysis:

In product base segment , one of the most significant advancements made recently in the management of trauma-related bleeding is the use of cellulose hemostatic agents. Hemostatic properties of cellulose-put together hemostatics specialists are based with respect to their capacity to locally enact the coagulation overflow. Zeolite works by absorbing water from the injury site, which increases the concentration of coagulation factors and platelets. Oxidized cellulose is intended to be used in conjunction with gauze packing. Poly-N-acetyl glucosamine, a structural component of crustacean exoskeleton, produces chitosan, a novel local hemostatic agent.

 India hemostat market: Key Developments

  • , a startup based in Bengaluru, India, received US$ 5.2 Mn in funding in January 2020 to expand into international markets, led by Omidyar Network India-a philanthropic investment firm. Using cutting-edge biomaterial-based technology, the startup creates exclusive medical products for the Indian and global hemostatic and advanced wound care market. The business has raised US$ 6 Mn in funding in 2023, led by TrueScale Capital. Accel, Omidyar Network India, and the University of California – Ratan Tata Fund, three of the company's previous investors, also participated in this funding round. This initiative will fuel the market growth.
  • In March 2020, , a subsidiary of Johnson & Johnson Medical Devices Companies, announced the regional launch of SURGICEL POWDER ABSORBABLE HEMOSTAT in India. This new product is a powdered adjunctive hemostat made to make it easier for surgeons to control disruptive bleeding. SURGICEL Powder is made to stop bleeding quickly and address continuous, broad-surface oozing. It is well-suited for use in a wide range of surgeries, including certain gynecologic, oncologic, cardiovascular, and general procedures, because it is easy to apply to large surfaces.

India hemostat market: Key Trends

Purchase of ownership and management

The research institutions across India are instrumental in carrying out R&D on hemostats For instance, on June 02, 2023, Scientists at Pune's Agharkar Research Institute (ARI), an independent grant-in-aid research institute of the Department of Science and Technology, Government of India, created special hemostatic gauze known as "Hemohalt" that contains chitosa. The material is absorptive, durable, and simple to tear off. The India hemostat market is therefore anticipated to experience profitable growth over the forecast period due to the the rising prevalence of chronic diseases, frequent product launches, and rising R&D initiatives by key market players and research organizations across the nation.

India hemostat market: Restraint

Lack of awareness of bleeding disorders

One of the key factors expected to hamper the growth of the India hemostat market is lack of awareness of bleeding disorders. Multiple bleeding symptoms are experienced by women with bleeding disorders, such as epistaxis, easy bruising, bleeding from minor wounds and the oral cavity, and bleeding after dental work or surgery. Gynecologic and obstetrical bleeding, on the other hand, are particularly common in women with bleeding disorders. These side effects frequently are not perceived as unusual, and numerous ladies are left undiscovered and without admittance to suitable clinical consideration. Lack of access to appropriate laboratory testing and issues with disease classification and nomenclature also make it difficult to diagnose bleeding disorders in women. Furthermore, there is also a lack of information detailing the clinical range of coagulation and platelet capability problems in Indian kids.

India hemostat market- Key Players

Major players operating in the India hemostat market are Ethicon Inc. (a subsidiary of Johnson & Johnson Services,Inc.), Aegis Lifesciences. Eucare Pharmaceuticals (P) Ltd., Baxter, Axio Biosolutions Pvt Ltd, and Mil Laboratories Pvt Ltd.

Definition: A hemostat is a tool for controlling bleeding during numerous surgical procedures. Because of this, hemostats, which seal blood vessels awaiting ligation, are frequently used in the initial stages of surgery to line the incision. Hemostats are part of a group of pivoting instruments that have different functions determined by the structure of the tip, much such as scissors, needle holders, tissue holders, and other clamps.

 

Share

About Author

Manisha Vibhute is a consultant with over 5 years of experience in market research and consulting. With a strong understanding of market dynamics, Manisha assists clients in developing effective market access strategies. She helps medical device companies navigate pricing, reimbursement, and regulatory pathways to ensure successful product launches.

Missing comfort of reading report in your local language? Find your preferred language :

Frequently Asked Questions

The global India Hemostat Market size was valued at USD 81.5 million in 2023 and is expected to reach USD 117.5 million in 2030.

The India hemostat market is estimated to be valued at US$ 81.5 Mn in 2023 and is expected to exhibit a CAGR of 5.4% between 2023 and 2030.

Insurance reimbursements by Government of India and product launches by key players is expected to drive the India hemostat market growth.

Lack of awareness of bleeding disorders ,expensive technologies for advanced surgeries and lack of practicing surgeons in tier 2 and 3 cities is expected to hinder the India hemostat market over the forecast period.

Major players operating in the India hemostat market include Ethicon Inc.(a subsidiary of Johnson & Johnson Services,Inc.), Aegis Lifesciences. Eucare Pharmaceuticals (P) Ltd., Baxter , Axio Biosolutions Pvt Ltd, and Mil Laboratories Pvt Ltd.
Logo

Credibility and Certifications

DUNS Registered

860519526

ESOMAR
Credibility and Certification

9001:2015

Credibility and Certification

27001:2022

Clutch
Credibility and Certification
Logo

Credibility and Certifications

DUNS Registered

860519526

ESOMAR
Credibility and Certification

9001:2015

Credibility and Certification

27001:2022

Clutch
Credibility and Certification

Need a Custom Report?

We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports

Customize Now

Select a License Type





Logo

Credibility and Certifications

DUNS Registered

860519526

ESOMAR
Credibility and Certification

9001:2015

Credibility and Certification

27001:2022

Clutch
Credibility and Certification

EXISTING CLIENTELE

Joining thousands of companies around the world committed to making the Excellent Business Solutions.

View All Our Clients
trusted clients logo
© 2024 Coherent Market Insights Pvt Ltd. All Rights Reserved.