Surgical Hemostats and Adhesion Barriers Market Worth US$ 5 Billion by 2024

Posted by Ritu Parey on September 18th, 2017

 Persistence Market Research (PMR) indicates that the global market will witness a steady growth owing to factors such as challenges before adhesive prevention, changing nature of clinical needs and higher caseload across the globe. In addition, key players operating in the global market are actively focusing on strategic collaborations in order to extend their product reach across narrower distribution channels. This, in turn, is anticipated to support the growth of market over the next couple of years.

As per PMR’s report, the existence of handful established brands that are running globally and uneven structure of the market is expected to present lucrative market opportunities for local players over the forecast period.

On the basis of product type, the hemostats product segment is estimated to reach a market valuation of US$ 2.2 Billion by the closing end of the assessment period. In terms of value, the segment is estimated to increase 1.9x over 2024 despite recording a relatively low CAGR.

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Based on regional prospects, North America will retain the major share of the global market over 2024 followed by Europe. In addition, the market in North America is expected to create an incremental opportunity of closely to US$ 1,642 Million during 2016 to 2026. Europe being the second largest market is set to rake in US$ 1.2 Billion in revenues over 2024, with the UK, Germany and France occupying the top three spots of the market in the region.

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Key player operating in the global market for surgical hemostats, internal tissue sealants and adhesion barriers market include Baxter international Inc., Tissuemed Ltd., C.R. Bard Inc. (Davol Inc.), B. Braun Melsungen AG (Asculap), Ethicon Inc. (Johnson & Johnson), Cryolife Inc., Cohera Medical, Inc., Integra LifeSciences Holdings Corporation, Pfizer Inc., Sanofi, and CSL Behring (CSL Ltd.). Most of these companies are actively focusing on completing strategic mergers and acquisitions to achieve higher product penetration.