Growing Prevalence of Chronic Diseases to Fuel Demand for Hemostasis and Tissue Sealing Agents

Hemostasis and tissue sealing agents are highly in demand as they are advanced medical devices which are used for preventing hemorrhages that may occur due to surgeries or accidents, and in cases of trauma. Hemostasis and tissue sealing agents are also used for wound care. The growing geriatric population worldwide and increasing number of surgeries performed are some of the factors boosting the growth of the hemostasis and tissue sealing agents market globally. The market is also benefitting from the growing number incidences of chronic illnesses, especially among the old age groups. 

As per a report by Transparency Market Research (TMR), the global hemostasis and tissue sealing agents market will reach US$5.2 bn by the end of 2020, expanding at a healthy CAGR of 8.0% from 2014 to 2020. Given below are three important questions answered by TMR regarding the global hemostasis and tissue sealing agents market. 

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Q. What are the strategies adopted by key players operating in the global hemostasis and tissue sealing agents market?

Manufacturers of the hemostasis and tissue sealing agents are aggressively marketing their products and pushing their market penetration. Players are striving to launch technologically advanced products, so as to sustain in the competitive environment.  This is also driving the growth of the market. Leading global players are commercializing their products through powerful network involving both regional and overseas partners, spread across countries. A case in point would be Advanced Medical Solutions Group. The company owns direct sales force teams, which are stationed across key economies such as , the Czech Republic, the U.K., Russia, and Germany. The company has commercialized their products across 60 countries in  total. 

Q.  Which regions are anticipated to be attractive markets for hemostasis and tissue sealing agents market?

North America not only led in the past but is expected to retain its dominant hold over the hemostasis and tissue sealing agents market. The region’s success in the market is attributed to the rising number of cases relating to cardiovascular diseases. The number of pulmonary surgeries performed is also a key factor fueling the hemostasis and tissue sealing agents market in North America. Europe is expected to be the second leading regional segment in this market on account of the growing population of the elderly and the launch of advanced hemostasis products such as HEMOPATCH, TISEEL, and FLOSEAL. Asia Pacific is also expected to emerge as a highly lucrative regional segment in the coming years.

Q. What are the recent developments by key players in the market?

Ethicon has announced recently that the U.S. (FDA) has approved the expanded indication for EVARREST® Fibrin Sealant Patch. The product can leverage biologics to quickly and efficiently stop the problematic bleeding during surgical procedures. This expanded indication supports the use of EVARREST® and epresents a noteworthy achievement in controlling and managing problematic bleeding situations, with high confidence, motivating patient care.

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