Albany, NY, Nov. 24, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Hemostasis and Tissue Sealing Agents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020" the global hemostasis and tissue sealing agents market was valued at USD 3.0 billion in 2013 and is estimated to reach a market worth of USD 5.2 billion in 2020 growing at a CAGR of 8.0% from 2014 to 2020.
Browse the full Hemostasis and Tissue Sealing Agents Market (Topical Hemostats - Mechanical Hemostats, Active Hemostats &Flowable Hemostats and Adhesive and Tissue Sealing Agents - Natural Tissue Sealants, Synthetic Tissue Sealants & Adhesion Barrier Products) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/hemostasis-tissue-sealing-agents-market.html
Hemostasis and tissue sealing agents market comprises advanced wound care medical devices that are used to cease hemorrhage during surgeries. The hemostasis and tissue sealing agents market is witnessing steady growth due to introduction of technologically sound hemostat products which are multi-usage and ready-to-use by key companies such as Ethicon, Inc., CryoLife, Inc. and others. In addition, aggressive marketing strategies being adopted by the key companies to expand their product penetration rate is also considered as one of the prominent driver of this market. For example, Advanced Medical Solutions Group plc commercializes its products through large distribution network of regional and multinational partners in more than 60 countries worldwide. The company also owns direct sales force team in the U.K., Germany, Russia and the Czech Republic to distribute its products effectively in these regions. Likewise, aging population which is susceptible to disease would further drive the market growth globally. However, high cost, stringent regulatory requirements and rising off-label use of hemostat products restrains the market growth globally.
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The global hemostasis and tissue sealing agents market, by types of products is categorized as topical hemostats and adhesive and tissue sealing agents. The adhesive and tissue sealing agents market is expected to witness highest CAGR during the forecast period 2014 to 2020. Increasing research and development activities coupled with growing R&D expenditure of manufacturers for developing new tissue sealant and adhesion barrier products is anticipated to drive the growth of this market segment. Adhesive and tissue sealing agents segment is further categorized as natural tissue sealant, synthetic tissue sealant and adhesion barrier products. The market of adhesion barrier products is expected to witness slow growth rate in the near future due to limited application areas and low awareness of this product as compared to other adhesive and tissue sealing agent products.
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Geographically, hemostasis and tissue sealing agents market is segmented as North America, Europe, Asia-Pacific and Rest of the World (RoW). North America accounted for the largest market share in 2013 and is even expected to dominate the market during the forecast period from 2014 to 2020. The dominance of this region is majorly due to increasing number of cardiovascular, vascular and pulmonary surgeries in North America. Europe held the second largest share of the total market in 2013 and is expected to grow at the CAGR of over 7% from 2014 to 2020. Introduction of innovative technology based hemostat products such as FLOSEAL, HEMOPATCH and TISEEL (Baxter) and others coupled with aging European population will increase the uptake of hemostasis and tissue sealing agents in Europe. However, cost-effective environment, liberal regulatory policies and rising investment by key players are assisting Asia-Pacific hemostasis and tissue sealing agents market to grow consistently during the study period.
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Manufacturers are introducing cost-effective and innovative hemostasis and tissue sealing agents to increase their customer base. The hemostasis and tissue sealing agents market includes major companies namely Johnson & Johnson, CryoLife, Inc., Advance Medical Solution Group plc, Baxter, Cohera Medical, Inc. among others.
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The Global Hemostasis and Tissue Sealing Agents market is segmented as follows:
Global Hemostasis and Tissue Sealing Agents Market, by Types of Products
- Topical Hemostats
o Mechanical Hemostats
§ Collagen based Topical Hemostats
§ Oxidized Regenerated Cellulose (ORC) based Topical Hemostats
§ Gelatin based Topical Hemostats
§ Polysaccharide based Topical Hemostat
o Active Hemostats (Thrombin-Based Topical Hemostats)
o Flowable Hemostats (Combination Topical Hemostats)
- Adhesive and Tissue Sealing Agents
o Natural Tissue Sealant
§ Fibrin Sealant
§ Other Natural Sealant (Albumin and Collagen based Tissue Sealant)
o Synthetic Tissue Sealant
§ Cynoacrylate-Based Tissue Adhesives
§ Other Synthetic Tissue Sealant (Polyethylene Glycol and others)
o Adhesion Barrier Products
Global Hemostasis and Tissue Sealing Agents Market, by Geography
- North America
- Rest of the World (RoW)
Browse All Other Medical Devices Market Research Reports: http://www.transparencymarketresearch.com/medical-devices-market-reports-6.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research