Market Analysis:

The Absorbable Hemostats Market had an estimated market size worth US$ 2.1 billion in 2023, and it is predicted to reach a global market valuation of US$ 3.9 billion by 2031, growing at a CAGR of 8.2% from 2024 to 2031.

Absorbable hemostats are medical devices used to control bleeding during surgical procedures. They are designed to be absorbed by the body over time, eliminating the need for removal after use. These hemostats provide a matrix or surface that attracts and activates clotting factors, enabling the formation of a stable blood clot and stopping the bleeding. The main advantages of absorbable hemostats include improved patient comfort, reduced risk of infection, and faster recovery times.

The major drivers of the market include the increasing prevalence of chronic diseases requiring surgical interventions and the rising number of surgical procedures globally.

The Absorbable Hemostats Market is segmented by product type, application, end-user, and region. By product type, the market is segmented into thrombin-based hemostats, oxidized regenerated cellulose-based hemostats, gelatin-based hemostats, collagen-based hemostats, combination hemostats, and others. The thrombin-based hemostats segment is expected to grow significantly due to its high efficacy and compatibility with minimally invasive surgeries.

A recent example of a product launch in this segment is Ethicon's SURGICEL PREMIUM, an enhanced absorbable hemostat made from plant-based materials, which was introduced in 2021.

Epidemiology Insights:

• The disease burden related to conditions requiring surgical interventions is significant across all major regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
• Key epidemiological trends driving the demand for absorbable hemostats include the increasing prevalence of chronic diseases such as cardiovascular disorders, cancer, and musculoskeletal conditions, as well as the growing aging population, which is more susceptible to these conditions.
• In the United States, it is estimated that over 48 million inpatient surgical procedures were performed in 2018, while in the European Union, over 27 million surgical procedures were conducted in 2019.
• The increasing patient population, particularly in emerging markets like China and India, presents significant growth opportunities for the absorbable hemostats market.
• While most conditions requiring surgical interventions are not classified as rare diseases, certain conditions like hereditary hemorrhagic telangiectasia (HHT) or von Willebrand disease may benefit from the use of absorbable hemostats during surgical procedures.

Market Landscape:

• Unmet needs in the absorbable hemostats market include the development of hemostats with faster absorption rates, improved efficacy, and compatibility with minimally invasive surgical techniques.
• Current treatment options for controlling bleeding during surgical procedures include traditional methods such as suturing, cauterization, and the use of non-absorbable hemostats like surgical gauze or sponges.
• Approved absorbable hemostats currently available in the market include Ethicon's SURGICEL and Pfizer's GELFOAM, among others.
• Upcoming therapies and technologies in the market include the development of plant-based and synthetic absorbable hemostats, as well as combination products with antimicrobial properties.
• Breakthrough treatment options currently in development include biodegradable hemostats and hemostats integrated with advanced wound healing properties.
• The market composition is relatively consolidated, with a few major players like Ethicon, Baxter, and Pfizer dominating the branded product segment, while smaller companies focus on generic or niche product offerings.

Market Report Scope:

Market Drivers:

Increasing Prevalence of Chronic Diseases

The rising prevalence of chronic diseases, such as cardiovascular disorders, cancer, and musculoskeletal conditions, is a significant driver for the absorbable hemostats market. As the global population ages and lifestyle factors contribute to the development of these diseases, the demand for surgical interventions is increasing. Absorbable hemostats play a crucial role in controlling bleeding during these surgical procedures, ensuring effective hemostasis and improving patient outcomes. The growing need for surgical treatments to manage chronic diseases is fueling the demand for advanced and reliable hemostatic products, driving the growth of the absorbable hemostats market.

Adoption of Minimally Invasive Surgical Techniques

The growing trend towards minimally invasive surgical techniques, such as laparoscopic and robotic-assisted surgeries, has created a demand for hemostats that are compatible with these advanced procedures. Absorbable hemostats offer advantages in minimally invasive surgeries, as they can be easily applied through small incisions and provide effective bleeding control. As these surgical techniques continue to gain popularity due to their benefits, including reduced recovery time, minimal scarring, and lower risk of complications, the demand for absorbable hemostats is expected to rise accordingly.

Technological Advancements in Hemostatic Products

Continuous research and development efforts in the field of hemostatic products have led to the introduction of advanced absorbable hemostats with improved efficacy, faster absorption rates, and enhanced compatibility with surgical techniques. These technological advancements have driven the adoption of absorbable hemostats by healthcare professionals and patients alike. For instance, the development of plant-based and synthetic hemostats has provided alternatives to traditional animal-derived products, addressing concerns related to allergic reactions and religious or ethical considerations.

Increasing Adoption of Advanced Medical Treatments

The growing awareness and acceptance of advanced medical treatments, coupled with rising healthcare expenditure, have contributed to the demand for absorbable hemostats. As patients seek better healthcare solutions and are willing to invest in advanced treatments, the adoption of absorbable hemostats in surgical procedures has increased. Additionally, the availability of favorable reimbursement policies and improved access to healthcare facilities in both developed and emerging markets have further driven the growth of the absorbable hemostats market.

Market Opportunities:

Expansion into Emerging Markets

The absorbable hemostats market presents significant growth opportunities in emerging economies, particularly in regions such as Asia-Pacific, Latin America, and the Middle East. These regions are witnessing rapid economic growth, increasing healthcare expenditure, and improving healthcare infrastructure. As the demand for surgical procedures rises in these markets, the need for effective hemostatic products will also increase. By expanding their presence and offering affordable and innovative absorbable hemostats, manufacturers can tap into these emerging markets and drive substantial growth.

Development of Biodegradable and Biocompatible Hemostats

The development of biodegradable and biocompatible absorbable hemostats represents a promising opportunity in the market. These advanced hemostats are designed to be fully absorbed by the body without the need for removal, reducing the risk of complications and improving patient comfort. Additionally, the use of natural and biocompatible materials in the production of these hemostats can address concerns related to adverse reactions and improve acceptance among healthcare professionals and patients.

Integration with Antimicrobial Properties

The integration of antimicrobial properties into absorbable hemostats is an emerging opportunity in the market. Surgical site infections (SSIs) are a significant concern in healthcare settings, and the development of hemostats with antimicrobial properties can help reduce the risk of SSIs and improve patient outcomes. By incorporating antimicrobial agents or materials with intrinsic antimicrobial properties, manufacturers can develop innovative absorbable hemostats that provide effective hemostasis while preventing the growth of harmful microorganisms.

Expansion into Wound Care Applications

While absorbable hemostats are primarily used in surgical settings, there is an opportunity to expand their applications into the wound care market. Chronic wounds, such as diabetic ulcers and pressure sores, can benefit from the hemostatic properties of absorbable hemostats. These products can help control bleeding, promote clotting, and facilitate wound healing. By exploring this application, manufacturers can diversify their product portfolios and tap into a new market segment, potentially contributing to the overall growth of the absorbable hemostats industry.

Market Trends:

Development of Plant-Based Hemostats

The trend towards the development of plant-based absorbable hemostats is gaining traction in the market. These hemostats are derived from natural sources, such as polysaccharides or plant-based fibers, and offer several advantages over traditional animal-derived products. Plant-based hemostats are often more environmentally sustainable, address concerns related to religious or ethical considerations, and may have a lower risk of adverse reactions. Several manufacturers are investing in research and development to introduce innovative plant-based hemostats to meet the growing demand for natural and sustainable products.

Focus on Faster Absorption Rates

One of the key trends in the absorbable hemostats market is the focus on developing products with faster absorption rates. Rapid absorption of the hemostat can contribute to quicker wound healing and reduced risk of complications, such as infection or excessive scarring. Manufacturers are exploring various strategies, including the use of advanced materials and formulations, to enhance the absorption rates of their absorbable hemostats. This trend is driven by the demand for improved patient outcomes and the need for efficient surgical procedures.

Integration with Advanced Surgical Techniques

As surgical techniques continue to evolve, the absorbable hemostats market is witnessing a trend towards the integration of these products with advanced surgical methods. Manufacturers are developing hemostats that are specifically designed for use in minimally invasive surgeries, robotic-assisted procedures, and other advanced surgical techniques. This trend is driven by the increasing adoption of these techniques due to their potential benefits, such as reduced recovery time, minimal scarring, and lower risk of complications.

Combination Products for Enhanced Functionality

Another emerging trend in the absorbable hemostats market is the development of combination products that offer enhanced functionality. These products may combine hemostatic properties with additional features, such as antimicrobial agents, wound healing promoters, or tissue adhesives. By integrating multiple functionalities into a single product, manufacturers aim to provide comprehensive solutions that address various surgical needs and improve patient outcomes. This trend is driven by the demand for innovative and multifunctional products in the healthcare industry.

Market Restraints:

Risk of Adverse Reactions

While absorbable hemostats offer several advantages, there is a risk of adverse reactions associated with their use. Certain materials used in the production of these hemostats may trigger allergic reactions or immune responses in some patients. Additionally, the absorption process itself can potentially lead to complications if the hemostat is not fully absorbed or if it causes inflammation or tissue damage. These potential risks can act as a restraint on the market, as healthcare professionals may be cautious in using absorbable hemostats, especially in high-risk patients or those with compromised immune systems.

Stringent Regulatory Approvals

The absorbable hemostats market is subject to stringent regulatory approvals and guidelines set by governing bodies such as the Food and Drug Administration (FDA) and the European Medicines Agency (EMA). These regulations are in place to ensure the safety and efficacy of medical devices before they are introduced to the market. However, the regulatory approval process can be time-consuming and costly, posing a restraint for manufacturers seeking to launch new or innovative absorbable hemostats. Compliance with evolving regulations and the need for extensive clinical trials can delay product launches and hinder market growth.

High Cost of Advanced Hemostats

While technological advancements in absorbable hemostats have led to improved efficacy and functionality, these advanced products often come with a higher cost compared to traditional hemostatic agents. The high cost of advanced absorbable hemostats can act as a restraint, particularly in markets with limited healthcare budgets or regions where access to healthcare resources is limited. Patients and healthcare providers may be hesitant to adopt these more expensive products, opting for more affordable alternatives, which can hinder the growth of the absorbable hemostats market.

Recent Developments:

Market Regional Insights:

The Absorbable Hemostats Market is segmented by major regions, including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is expected to be the largest market for Absorbable Hemostats during the forecast period, accounting for over 35% of the market share in 2024. The growth of the market in North America is attributed to the presence of major market players, well-established healthcare infrastructure, and the high adoption rate of advanced medical technologies.

The European market is expected to be the second-largest market for Absorbable Hemostats, accounting for over 28% of the market share in 2024. The growth of the market in Europe is driven by the increasing prevalence of chronic diseases, aging population, and favorable reimbursement policies for surgical procedures.

The Asia-Pacific market is expected to be the fastest-growing market for Absorbable Hemostats, with a CAGR of over 9% during the forecast period by 2024. The growth of the market in the Asia-Pacific region is attributed to the rising healthcare expenditure, improving healthcare infrastructure, and the growing medical tourism industry, particularly in countries like India and China. The Latin American and Middle Eastern & African markets hold the third-largest share, accounting for over 13% of the global Absorbable Hemostats Market in 2024.

Market Segmentation:

• By Product Type
  • Thrombin-based Hemostats
  • Oxidized Regenerated Cellulose-based Hemostats
  • Gelatin-based Hemostats
  • Collagen-based Hemostats
  • Combination Hemostats
• By Application
  • Cardiovascular Surgery
  • General Surgery
  • Orthopedic Surgery
  • Neurosurgery
  • Gynecological Surgery
  • Plastic Surgery
  • Others (Dental Surgery, Trauma Surgery)
• By End-User
  • Hospitals
  • Ambulatory Surgical Centers
  • Clinics
  • Others (Home Healthcare, Research Institutes)
• By Regions
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa

Market Segmentation Analysis:

• The thrombin-based hemostats segment is projected to grow significantly in the North American and European regions, with a CAGR of around 9-10% during the forecast period. This segment is expected to have a market size of around $1.2 billion by 2024 in these regions, driven by the increasing adoption of minimally invasive surgical procedures and the need for effective hemostatic agents.
• The general surgery application segment is likely to be the largest segment in 2024, with a market size of approximately $1.5 billion globally. This segment is expected to witness steady growth due to the rising number of general surgical procedures, including open and minimally invasive surgeries, performed worldwide.
• The hospitals end-user segment is projected to be the second-largest segment in 2024, with a market size of around $1.3 billion. This segment is anticipated to grow at a CAGR of 8-9% during the forecast period, driven by the increasing number of surgical procedures performed in hospital settings and the preference for advanced healthcare facilities.

Top companies in the Absorbable Hemostats Market

• Ethicon (Johnson & Johnson)
• Baxter International Inc.
• Pfizer Inc.
• C. R. Bard, Inc. (Becton, Dickinson and Company)
• B. Braun Melsungen AG
• Integra LifeSciences Holdings Corporation
• Gelita Medical GmbH
• Equimedical
• Biocer Entwicklungs GmbH
• Meril Life Sciences Pvt. Ltd.
• Aegis Lifesciences
• Hemostasis LLC
• Sanofi
• Marine Polymer Technologies, Inc.
• Medtronic
• Biom'up
• Teleflex Incorporated
• Betatech Medical
• Aroa Biosurgery Limited
• Resorba Medical GmbH