The global hemostats market is expected to reach US$ 3,557.41 Mn in 2027 from US$ 2,206.00 Mn in 2019. The market is estimated to grow with a CAGR of 6.3% from 2020-2027.

The growth of the hemostats market is primarily attributed to the factors such as increasing number of surgical procedures, increasing cases of sports injuries and technological advancements leading to launch of new products in the market. However, lack of reimbursement for hemostatic agents is likely to pose a negative impact on the market growth. On the other hand, growth opportunities in emerging regions are likely to have a positive impact on the growth of the global hemostats market during the forecast period.

The rise in the incidences of sports injuries is contributed by weekend sports players, professional athletes, youngsters, children playing in the societies, and sometimes adults. Most of the sports injuries are orthopedic injuries that include swelling, pain, strain, sprain, fractures, ligament breaks, and others. These injuries are broadly classified as acute and chronic types. The injuries or lesions are caused by sports such as water sports, water soccer (football), cricket, basketball, rugby, athletic games, and others. For instance, according to the Federation Internationale de Football Association (FIFA), the data has revealed that sports injuries are majorly caused by soccer. Similarly, in cricket, the bowlers are more prone to get injured from the repetitive motion of their legs, elbow, and shoulders. The typical hams and injuries that are being observed are impingement syndromes, rotator cuff tears, ankle sprains, as well as medial ligament injuries to the elbow. Therefore, averagely 10% of the cricketers may suffer from lesions at any point in time in the field and approx. 15% of the incidences are contributed by the fast bowlers. After analyzing the facts and figures provided by the different organizations, it is expected that the market for the hemostats is likely to experience favorable growth in the forecast period.

Global hemostats market, based on the product, is segmented into Standalone Systems and Integrated Systems. In 2019, the Standalone Systems held the largest share of the market, by product. Also, integrated systems segment is expected to grow at the fastest rate during the coming years owing to increasing adoption of integrated systems across the globe.

Global hemostats market, based on the product, is segmented into thrombin-based hemostats, combination hemostats, gelatin based hemostats, collagen based hemostats and oxidized regenerated cellulose based hemostats. In 2019, the thrombin-based hemostats segment held the largest share of the market, by product. Thrombin can be manufactured as recombinant thrombin that eliminates the risk of antibody development and offer various other advantages which attributes to the dominance of the segment.

Some of the major primary and secondary sources for Hemostats included in the report are Centers for Disease Control and Prevention (CDC), USFDA, Central Intelligence Agency (CIA), National Clinical Database, and others.