The global market for hemostasis and tissue sealing agents has been studied at depth in this new market research study that has been recently published by Transparency Market Research. A per the study, this market is predicted to witness a high level of competition in the next few years, thanks to the rising number of players that are projected to enter the market in the next few years. The leading players in the market are emphasizing on innovations and advancements in technology so as to maintain their position and attract a large number of customers throughout the forecast period. In addition to this, the growing research and development activities and the increasing number of mergers and acquisitions are expected to enhance the overall growth of the market in the next few years. Some of the key players that are operating in the hemostasis and tissue sealing agents market across the globe are Integra LifeSciences Corporation, Baxter, Advance Medical Solution Group plc, Johnson and Johnson, Pfizer, Inc., and CryoLife, Inc.
According to the market research study by Transparency Market Research, the global hemostasis and tissue sealing agents market is projected to reach a value of US$5.2 bn by the end of 2020. The market is predicted to register a promising 8.0% CAGR between 2014 and 2020.
Rising Preference of Physicians and Surgeons to Drive North America Market
From a regional perspective, North America is projected to maintain its leading position throughout the forecast period and is likely to hold a major share in the coming years. The high growth of this region can be attributed to the rising number of inpatient surgical procedures along with the increasing use of hemostat products by physicians and surgeons. Furthermore, Europe is projected to remain in the second position, owing to the significant rise in the geriatric population, thus accelerating the growth of the market in the next few years. Asia Pacific is predicted to experience a healthy growth rate throughout the forecast period. The strong growth of this region can be attributed to the rising investment by the leading companies and the liberal regulatory environment.
The global market for hemostasis and tissue sealing agents has been classified on the basis of product type into adhesive and tissue sealing agents and topical hemostats. At present, the topical hemostats segment is holding a major share of the market and is projected to lead the market in the next few years. As per the research study, this segment is predicted to register a healthy 6.0% CAGR between 2014 and 2020. The strong growth of this segment can be attributed to the rising use of topical hemostats for the wide range of the surgical procedures.
Rising Investments to Drive Hemostat and Tissue Sealing Agents Market
The rising adoption of advanced technologies and the increasing investments are considered as the key factors that are projected to encourage the growth of the global hemostasis and tissue sealing agents in the next few years. The rising number of cases of cardiovascular, gastrointestinal, pulmonary, vascular surgeries have resulted in a high demand for hemostat products, thus encouraging the growth of the overall market in the near future. On the flip side, the use of off label hemostat products and the rising prices of these products are projected to restrict the growth of the market in the next few years. Nonetheless, the rising geriatric population and the advancements are projected to enhance the growth of the market in the next few years.
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This information is based on the findings of a research report published by Transparency Market Research (TMR), titled “Hemostasis and Tissue Sealing Agents Market (Topical Hemostats – Mechanical Hemostats, Active Hemostats & Flowable Hemostats and Adhesive and Tissue Sealing Agents – Natural Tissue Sealants, Synthetic Tissue Sealants & Adhesion Barrier Products) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.”
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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