MEA Hemostats Market

MEA Hemostats Market Size (2023 to 2028)

As per the research report, the Middle East and Africa Hemostats market size will be valued at around USD 301.99 million in 2023. It is expected to grow at a CAGR of 5.89% and be worth USD 402.04 million by 2028. Thus, it captures 8% of the global market.

To stop bleeding during an operation on a patient, hemostats are used. Tissue adhesion agents and tissue sealants are used alongside it. These adhesives and sealants can be physical or biological, and these products are predicted to soon replace the traditional sutures used for incision closures. They are minimally invasive, reduce surgery time, and prevent post-operation fluid leaks or infections.

The rising population giving rise to the prevalence of chronic conditions such as orthopedic conditions, heart-related diseases, and an increase in surgical procedures are majorly driving the hemostats market. In addition, technological advancements in the healthcare sector, innovations, developments in this field, products, and applications are fuelling market growth. 

Moreover, the presence of various types of hemostats, such as tropical hemostats, thrombin-based hemostats, and other types in the market increases the demand for market growth. Furthermore, the initiatives and investments by the government and non-government in research activities, the rising focus on product development, and the increase in the number of surgical and trauma cases are significantly boosting the hemostats market growth.  

However, a lack of awareness among individuals about the usage and importance of hemostats products and a stringent regulatory framework are restricting the growth of the hemostats market in the MEA region. Also, the lack of skilled surgeons and professionals is a major restraint limiting the market's growth. In addition, the approval processes for introducing the product in the market limit the development of the market. As well as an increase in the availability of substitute products in the market, the rise in the usage of off-labeled products hinders the market growth of the products.

This research report on the Middle East and Africa 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: 

• KSA
• UAE
• Israel
• rest
• GCC countries
• South Africa
• Ethiopia
• Kenya
• Egypt
• Sudan
• rest of MEA

The Middle East, Asia, and Africa hemostats market is expected to have a moderate growth rate in the coming years due to the rapid technological advancements in the healthcare industry. Countries in the region are spending more on research and development. Therefore, newer and innovative products are regularly introduced to the market, which maintains a significant market share. Some other factors responsible for the market growth are incorporating the hemostats in more and more medical procedures and favorable reimbursement policies. UAE, Saudi Arabia, and South Africa are also expecting growth in upcoming years due to the rapid technological innovations in the hemostats market; with the increase in the competition between the market players to hold a substantial share in the market will increase in the market growth of the hemostats market.

The South African hemostats market held a significant share of the MEA market during the forecast period. Increasing government research and development activities and the presence of key market players are fuelling market growth. In addition, the rapid growth of the economy is also helping the market to grow parallel to the economy.

KEY MARKET PLAYERS:

Companies playing a notable role in the Middle East and Africa Hemostats Market profiled in the report are 3M, ADCO Latin America, Inc., Abbott Laboratories. Other players in the market include Advanced Medical Solutions Group, Plc., and Dymax Corporation.