Europe Hemostats Market

Europe Hemostats Market Size (2023 to 2028)

The size of the European Hemostats market is forecasted to be worth USD 956.86 million in 2023. It is expected to grow at a CAGR of 6.1% from 2023 to 2028. It captures 25% of the global market.

The expansion of the European hemostats market is likely to be fuelled by an increase in surgical procedures. In addition, the wide range of applications, continual advances in the product portfolio, technological advancements that benefit end-users, and assurance assistance to manufacturers to promote tissue sealants are the primary drivers of the European hemostatic market. 

Furthermore, chronic illnesses and an aging population leading to an increase in the number of treatments. An increase in minimally invasive surgeries and improved healthcare spending fuel the hemostats market’s growth rate. Additionally, the unmet medical needs and emerging healthcare industry conditions offer profitable growth potential. The hemostatic agent is essential for establishing hemostasis in prehospital situations and preventing death from hemorrhage. As a result, they are in high demand at surgery centers, hospitals, and nursing jobs.

The use of certain sealants and hemostatic adhesives, which contribute to the growth of the hemostats market, is increasing as public awareness of minimally invasive surgical methods grows. The market growth rate is further expected to be accelerating due to an increase in chronic diseases and more government support. Furthermore, increased government and private-sector research and development activities to develop effective hemostatic drugs and enhanced technical developments in significant economic benefits throughout the forecast period.

The growth of the European hemostats market is expected to be hampered by surgeon aversion to novel treatments and insufficient reimbursement. Furthermore, most of the market has been consolidated, a major stumbling block for the hemostats market. As a result, the use of hemostats is predicted to be restrained by the adverse effects and allergic reactions they cause. In addition, the high cost of hemostatic devices hampers the market.

This research report on the European hemostats market has been segmented and sub-segmented into the following categories:

By Product Type: 

• Topical Hemostats
• Tissue Sealants
• Cyanoacrylate-based Tissue Adhesives
• Adhesion Prevention Products

By Application: 

• Wound Closure
• Surgical Hemostats

By Distribution Channel: 

• Direct Tenders
• Retail

By Country: 

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

The market for hemostats in Europe was the second-largest in the world in 2020. Due to its constantly increasing economy, the European hemostats market is expected to share the global market throughout the forecast period significantly. In addition, the regional growth is contributed by the high healthcare spending, which has resulted in increased demand for advanced technical items and a significant increase in the number of surgeries conducted. According to the Surgical Operations and Procedure Statistics, 1.4 million cesarean sections were conducted in Europe. Furthermore, increased public awareness of the need to promote excellence in healthcare is expected to boost demand for European hemostats. The countries such as the United Kingdom, Germany, France, Italy, Spain, and the rest of Europe significantly contribute to the European hemostats market.

The UK hemostats market is predicted to dominate the European market during the forecast period. The increase in surgical operations and the number of hemostatic products and insurance providers contribute to expanding the European hemostats market. Hemostats and tissue sealants have a sizable market in Germany. The country has been a considerable increase in older people and the systematic introduction of new equipment. If these products could be utilized for various ailments, their market share would rise, and the market would grow.

KEY MARKET PLAYERS:

A few prominent companies in the European hemostats market profiled in this report are 3M, ADCO Europe, Inc., Abbott Laboratories. Other players in the market include Advanced Medical Solutions Group, Plc. and Dymax Corporation.