Hemostasis and Tissue Sealing Agents Market to Experience Significant Growth Due to Aggressive Marketing Strategies

Hemostasis and Tissue Sealing Agents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Hemostasis and tissue sealing agents market represents advanced hemostat medical devices that are used to control bleeding during surgery. These devices play an important role in facilitating wound healing process during surgical procedures. The market of hemostasis and tissue sealing agents is majorly driven by the introduction of new hemostat products. For instance, in May 2014, Cohera Medical, Inc. introduced Sylys Surgical Sealant that can be used in gastrointestinal surgery to reduce anastomotic leak. In the same year i.e., January 2014, Baxter also received the U.S. FDA approval for TISSEEL fibrin sealant, indicated for the usage in almost all types of surgical procedures. Thus, continuous introduction and adoption of innovative technology based products is driving the market growth.

In addition, rising number of cardiovascular, vascular, gastrointestinal and pulmonary surgeries have also increased the uptake of hemostat products. Factors such as rising use of hemostasis and tissue sealing agents in minimally invasive procedures and aging population that is more prone to chronic diseases will augment the growth of hemostasis and tissue sealing agents during the forecast period. However, high cost and growing use of off label hemostat products is anticipated to hamper the growth of hemostasis and tissue sealing agents market.

Hemostasis and tissue sealing agents market is segmented into types of products namely topical hemostats and adhesive and tissue sealing agents. Presently, topical hemostats segment is anticipated as the largest market share holder and is estimated to grow at a CAGR of over 6% during the forecast period from 2014 to 2020. The growth is mainly attributed to the expanding use of topical hemostats (such as mechanical and active hemostats) for wide range of surgical procedures (e.g. vascular, cardiovascular and others).

Mechanical hemostat, active hemostat and flowable hemostat are the major subtypes of topical hemostat. Rising preference of surgeons for active hemostat products owing to its high efficacy to control bleeding process is supporting active hemostat market to grow at the highest CAGR. For instance, in July 2010, the Journal of Blood Medicine published an article which stated that active hemostat (thrombin) is proven to be a useful and effective ancillary for surgical hemostasis.

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Adhesive and tissue sealing segment accounted for around 40% share of the total hemostasis and tissue sealing agents market in 2013. This segment is further categorized as natural tissue sealant, synthetic tissue sealant and adhesion barrier products. Among these, natural tissue sealant accounted for the largest market share owing to commercial availability of large number of natural tissue sealants, such as (Floseal, Tisseel, TachoSil and others) in the market.

Hemostasis and tissue sealing agents market by geography is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). In 2013, North America accounted for the largest share, i.e. around 36% in the total hemostasis and tissue sealing agents market. Increasing number of inpatient surgical procedures coupled with rising use of hemostat products by end-users (surgeons and physicians) is propelling the market growth in North America. Europe accounted for the second largest share in 2013 due to steady rise in geriatric population which would accentuate the demand of hemostasis and tissue sealing agents. Asia-Pacific is expected to witness fastest growth during the study period owing to liberal regulatory environment and increasing investment by key companies such as CryoLife, Inc., Pfizer, Inc. and others in this region.

Some of the prominent players in the hemostasis and tissue sealing agents market are CryoLife, Inc., Johnson and Johnson, Advance Medical Solution Group plc, Baxter, Pfizer, Inc., Integra LifeSciences Corporation and others.

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by Pooja M (few years ago!)

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