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) - Size, Share, Outlook, and Opportunity Analysis, 2023– 2030 is estimated to account for US$ 81.5 Mn in terms of value in 2023 and is expected to exhibit a CAGR of 5.4% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Hemostats are useful in many surgical procedures. They are usually used in the original incision where the doctor can control the bleeding. This instrument belongs to a family of rotary instruments that also includes needle holders and tissue clamps. The hemostat has a locking mechanism consisting of interlocking teeth to ensure the safety of the device. A hemostat is a versatile tool, so it should always be at hand in case of need.
India Hemostat Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of drugs from one place to another.
COVID-19 had a negative impact on the Indian Hemostat market. The lack of surgical proceures due to the COVID-19 surges likely had decelerated the expansion of India hemostat market. Moreover, prior to the pandemic, surgeon practitioners and hospitals typically obtained supplies from a number of vendors in India and maintained minimal excess supplies for emergencies.
India Hemostat Market: Key Developments
In February, 2022,Wortham Laboratories, a company manufacturing hemostatic wound healing and coagulation products launched SeraSeal, a new hemostatic agent that is designed to stop bleeding on contact, and within seconds for arterial hemorrhages in India.
Browse 13 Market Data Tables and 19 Figures spread through 167 Pages and in-depth TOC on “India Hemostat Market”- Forecast to 2030, 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) - Size, Share, Outlook, and Opportunity Analysis, 2023- 2030
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/india-hemostat-market-3524
Key Takeaways of the India Hemostat Market:
- The India hemostat market is expected to exhibit a CAGR of 4% during the forecast period. This growth can be attributed to prevalence of blood disorders, an increase in geriatric population and Government initiatives to perform free surgeries. However there still is a lack of awareness of bleeding disorders in underdeveloped areas of the country. Literacy and social development programs in these regions is shifting the attention of physicians to opening of clinics and primary healthcare centres which in turn, will help in the growth and expansion of the Indian hemostats market.
- Among product base, cellulose segment is estimated to fastest growing in the India hemostat market over the forecast period. For instance, according to an article in June 2021, published by PubMed-a free search engine for biomedical and life science data bases, gelatin significantly slowed wound healing compared to cellulose. Therefore, when hemostats are needed, cellulose is recommended instead of gelatin, due to its effect on wound healing, increasing its market demand.
- Among end user,hospital segment is estimated to be dominant in India as road traffic accidents (RTAs) and the factors that influence them are on the rise as a result of India's rapid economic and automobile growth. The most common type of injury is abrasions and bruises in the extremities. For instance, according to an article published by PubMed-a free search engine for biomedical and life science data bases, in November 2021, over 20% of the world's trauma deaths occur in India, where injuries have been identified as a major public health problem.
- Major players operating in 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.
