Absorbable Hemostats Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Absorbable Hemostats Market Size - Analysis

Absorbable Hemostats Market Trends

There has been significant rise in various types of spinal ailments over the past couple of decades. Spinal issues could range from minor backache caused due to posture or obesity to more critical conditions like slipped disc, damages discs or vertebrae fractures. Aging population across developed nations has also contributed to higher cases of degenerative spine diseases. Prolonged lifestyle associated diseases and lack of physical activity has made populations more prone to spinal disorders. Studies show nearly 80% of Americans will experience back pain at some point which could last from few days to sometimes months.

Further, as spinal surgeries involving delicate nerves become more advanced, need for minimal blood loss and improved visibility becomes critical for success of such high-stake operations. This drives significant demand for technologically advanced hemostats in spine segment.

Market Driver - Increasing Technological Innovation in Hemostats Product Development

For instance, combination of oxidized regenerated cellulose with thrombin or gelatin is gaining favor as they provide dual action hemostasis and sealant effect reducing time in operating room. Similarly, hemostats integrating antibacterial properties are new entrants helping cut down postoperative infections especially important in spinal and brain surgeries.

Advances in material sciences and polymer engineering have enabled design of tailor-made synthetics perfectly suited for specialized surgery requirements. For example, 3D printed hemostats customized as per anatomical areas are new developments. Nanotechnology and drug loading capabilities in hemostats are other innovations unlocking new therapeutic possibilities.

One of the major challenges currently being faced by the absorbable hemostats market is the high cost of these products. Absorbable hemostats are manufactured using advanced technologies and materials like oxidized cellulose, polysaccharides, and gelatin to allow for quick clotting and absorption within the body.

The high costs also limit the penetration of these products in price-sensitive developing markets. To address this challenge, manufacturers will need to focus on innovation that allows for cost reduction without compromising on effectiveness. This could include exploring alternative raw materials, streamlining production workflows, and standardizing designs. Overcoming the barrier of high costs will be crucial to realizing the full growth potential of the absorbable hemostats market.

Market Opportunity - Growth in Sports-related Injuries and Rising Need for Advanced Wound Care Solutions

Sports medicine has emerged as a specialized clinical discipline focused on addressing sports-related wounds and injuries. The demand for advanced wound care solutions is witnessing significant growth in this field to aid faster recovery of athletes. Absorbable hemostats that promote quick clotting and healing without leaving any residues in the body have a clear advantage over conventional gauze and cloth wound dressings for sports medicine applications. Their effectiveness in minimally invasive surgeries is also boosting uptake.

Key winning strategies adopted by key players of Absorbable Hemostats Market

Product Innovation: Developing new and innovative absorbable hemostats products is a key strategy adopted by market players. For example, in 2018, Baxter launched GAVEL Surgical Sealant, an absorbable hemostatic agent designed to control mild to moderate bleeding during surgery. It was the first absorbable hemostat approved for use in a broad range of general, vascular and cardiovascular procedures. This innovative product helped Baxter gain market share.

Partnerships: Establishing partnerships with other players complements product offerings and strengths. For example, in 2017, Baxter partnered with Apollo Endosurgery to offer a comprehensive portfolio of surgical products including absorbable hemostats to customers. In 2020, C.R. Bard partnered with Ethicon to leverage their expertise and expand access to absorbable hemostats like SPONGOSTAN.

Segmental Analysis of Absorbable Hemostats Market

In terms of type, thrombin-based hemostats contribute the highest share of the market owning to its versatility and wide range of applications. Thrombin-based hemostats work by activating platelets and aiding in the conversion of fibrinogen to fibrin to form blood clots. This mechanism of action makes them effective hemostatic agents for a variety of procedures across surgery types. They are compatible with most tissue types and do not require complex preparation steps prior to application. Moreover, being protein-based, they degrade and absorb quickly in the body post-surgery with minimal inflammatory response.

In trauma cases, thrombin-based hemostatic pads and powders provide rapid hemostasis for bleeding wounds and lacerations. The versatility of thrombin-based hemostats in terms of applications across surgical specialties as well as compatibility with different tissue types has made it the leading type in the absorbable hemostats market.

In terms of formulant, Matrix & Gel Hemostats contributes the highest share of the market owing to their superior performance characteristics over other formulations. Matrix and gel hemostats form an interconnected network upon application that mechanically fills wound cavities to establish hemostasis. Being pliable gels or matrices, they conform well to irregular tissue surfaces and anatomic defects.

The uniformly distributing properties of matrix and gel hemostats allow for more reliable hemostasis compared to sponges which rely on internal compression forces. They are also less disruptive to the surgical site than loose powders and granules. Due to their user-friendly formulations, matrix and gel hemostats have increased uptake in minimally invasive endoscopic procedures where tight gel formulations achieve adequate compression in confined spaces. Overall, superior performance attributes have made Matrix & Gel Hemostats the leading formulant type in the absorbable hemostats market.

Insights, By Application: Higher Complexity and Volume of Neurosurgery Cases Boosts its Share

At the same time, excessive swelling and scar formation must be avoided in the brain post-surgery. Absorbable hemostatic agents are thus indispensable adjuncts that minimize blood loss without increasing tissue inflammation. Furthermore, as neurological disorders and life expectancies rise globally, the case volume and complexity of brain and spine surgeries are increasing rapidly.

Given these advantages, absorbable hemostats have become essential components of advanced hemorrhage management techniques in neuro-oncology, neurovascular, endovascular neurosurgery and trauma procedures. The growing sophistication and volume of the neurosurgical specialty compared to other application areas drives its high market share.

Additional Insights of Absorbable Hemostats Market

• Rising number of musculoskeletal conditions, especially lower back pain, which affects 1.71 billion people globally (2021).
• Increasing number of spinal cord injuries caused by road crashes and falls, with an annual incidence of 250,000 to 500,000 cases globally.
• Gelatin-based hemostats are effective due to their ability to absorb 40 times their weight in blood and fluids, expanding by 200% in vivo, making them a superior option in surgical hemostasis.

Competitive overview of Absorbable Hemostats Market

The major players operating in the Absorbable Hemostats Market include B. Braun, Baxter, Johnson & Johnson, BD, Cura Medical, GELITA MEDICAL, Curasan AG, Meril Life Sciences, Zhonghui Shengxi, Beijing Datsing Bio-tech, Guizhou Jin Jiu Biotech, Beijing Taikesiman, Foryou Medical, Saikesaisi Holdings Group, Biotemed, Hangzhou Singclean Medical Products, Teleflex Incorporated, Hemostasis, LLC, Stryker, and Samyang Holdings Corporation.

Recent Developments in Absorbable Hemostats Market

Absorbable Hemostats Market Segmentation

• By Type
  • Thrombin-Based Hemostats
  • Oxidized Regenerated Cellulose-Based Hemostats
  • Gelatin-Based Hemostats
  • Collagen-Based Hemostats
  • Others
• By Formulant
  • Matrix & Gel Hemostats
  • Sponge Hemostats
  • Powder Hemostats
  • Others
• By Application
  • Neurosurgery
  • Orthopedic Surgery
  • General Surgery
  • Reconstructive Surgery
  • Others
• By End-User
  • Hospitals and Clinics
  • Ambulatory Surgical Centers
  • Others