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.
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Innovative Technologies and High Investments Driving Market
“Rapid introduction and adoption of advanced technologies is driving the market. Moreover, growing number of gastrointestinal, cardiovascular, vascular, and pulmonary surgeries have also increased the demand of hemostat products.” states a TMR expert. Due to prominent usage of hemostasis and tissue sealing agents in many of the critical and otherwise hardly penetrating procedures is one of the key contributing factors in boosting the demand of these products in the global market. Other factors, such as the mounting aging population across the globe, which is more susceptible to chronic diseases, will support the advancement of hemostasis and tissue sealing agents market during the predicted time period. However, the usage of off label hemostat products and high price are expected to be the reason to slow down the growth of hemostasis and tissue sealing agents market to a certain extent.
High Scope of Profit in Topical Hemostats Owing to Surgical Usage
Companies are finding a great scope of expansion in the employment of topical hemostats such as active hemostats and mechanical hemostats as they can be used in a wide range of surgical procedures, including cardiovascular and vascular. According to an article published by the Journal Blood Medicine, active hemostat, known as thrombin, is proved to be effective and supplemental for surgical hemostasis. Moreover, a good scope for companies looking for investment lies in the natural tissue sealant segment, which is projected to gain the dominant market share through the forecast period owing to the commercial presence of various natural tissue sealants in the market such as Tisseel, Floseal, and TachoSil.