The latest market report published by Credence Research, Inc. “Hemostasis and Tissue Sealing Agents Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global hemostasis and tissue sealing agents market was valued at US$ 3,321.9 Mn in 2017 and expected to reach US$ 6,837.6 Mn by 2026, expanding at a CAGR of 8.2% from 2018 to 2026.
The global hemostasis and tissue sealing agents market will witness the CAGR of 8.2% during the forecast period from 2018 to 2026. Technological innovation in the properties of tissue sealing agents and multitude of surgical procedures performed every year are the key factors driving the growth of this market. Joint ventures among research organizations and market players, and collaborations with hospitals are the key developments currently witnessed in the global hemostasis and tissue sealing agents market. Market players are also observed to increase their R&D initiatives towards developing natural products such as fibrin sealants and increasing the bioavailability of the products. Mergers and acquisitions is also a key development observed in this market.
Browse the full report Hemostasis and Tissue Sealing Agents Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/hemostasis-and-tissue-sealing-agents-market
Currently, the market players are intensively finding ways to expand the applications of topical hemostats of mechanical and active variants. There is also a potential scope for investment in innovation in the field of natural tissue sealants. This segment will witness the fastest market growth during the forecast period from 2018 to 2026. As the awareness about the benefits of tissue sealants is increasing, the preference for these products has grown in surgeons. Some of the prime advantages associated with tissue sealants are, ease of use, better visualization, reduced need for transfusion, better application in patients with coagulation disorders, reduced exudates and so on. The demand for tissue sealants is therefore high in surgeries performed on geriatric patients where the risk of surgical site complications is considerably high. The application of tissue sealing agents in neurological, gynecological, pulmonary, colorectal, cardiovascular and urological surgeries will further boost the market position of this segment. The tissue sealants segment in this report is further categorized into fibrin sealant (natural) and synthetic sealant types. Between these, the market growth of fibrin sealant type is anticipated to be the fastest during the forecast period.
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Considering the competitive landscape, the global hemostasis and tissue sealing agents market will witness tight competition in the coming years. Consolidation is a key advancement observed in this market on the grounds of widespread mergers, collaboration, acquisitions and joint agreements being undertaken by the market players. Swift commercialization of novel products is also a key characteristic of this industry. Some of the key players engaged in the global hemostasis and tissue sealing agents market are Baxter, Johnson & Johnson, CryoLife, Inc., Advanced Medical Solutions Group plc, Cohera Medical, Inc., Integra LifeSciences Corporation, Pfizer, Inc., C R Bard Inc., Cohesion Technologies, Inc., Zimmer Biomet, and B Braun Medical Inc.
Key Market Movements:
- Growing prevalence of chronic diseases and demand for corrective surgeries increasing preference for hemostats and sealants in surgical procedures
- The rapid development of the Asia Pacific healthcare infrastructure and burgeoning medical tourism industry
- Growing preference of technologically advanced sealing agents in Europe as against surgical sutures, unless imperative
- Intensive marketing strategies in North America and Europe
- Rapid penetration of major players in the emerging Asia Pacific, and Latin America markets