LONDON--(BUSINESS WIRE)--Technavio’s latest global hemostats and tissue sealants market report highlights three key emerging trends predicted to impact market growth through 2020. Technavio defines an emerging trend as something that has potential for significant impact on the market and contributes to its growth or decline.
To calculate the market size, Technavio uses revenue generated from the following products:
- Topical hemostats (active hemostats, mechanical hemostats, and flowable hemostats)
- Tissue sealants (fibrin and synthetic sealants)
The report segments the market by region into:
- Americas: The US, Canada, Mexico, and Brazil
- EMEA: The UK, Germany, Italy, France, Spain, Israel, South Africa, Egypt, Sudan, Kuwait, Saudi Arabia, Qatar, and the UAE
- APAC: Australia, Japan, India, China, Singapore, and South Korea
“Surgical wounds are a source of concern for healthcare practitioners, patients, and healthcare organizations, as they can lead to sepsis, pain, and also psychological problems. According to the CDC, each year close to 30 million patients in the US are affected by surgical site infections, and the number is increasing at the rate of 2%-5% year-over-year. A similar trend is observed in other leading countries as well,” said Barath Palada, one of Technavio’s lead industry analysts for cardiovascular and metabolic disorders.
“These factors are creating a demand for hemostats and tissue sealant-based wound closure treatments, as they ensure patient safety and render rapid recovery. Hence, the need to ensure patient safety and quick recovery will continue to drive the demand for hemostats and tissue sealants during the forecast period,” added Barath.
Technavio’s market research study identifies the following three emerging trends expected to propel the growth of the global hemostats and tissue sealants market:
- Approval of fibrin sealants as broad level hemostats
- Increasing popularity of MI procedures
- Development of novel tissue sealants and hemostats
Approval of fibrin sealants as broad level hemostats
Fibrin sealants aid in the rapid formation of stable clots. They can be applied to small blood vessels and to areas that cannot be addressed with conventional sutures. Also, fibrin sealants reduce the amount of blood loss during surgical procedures and lower the risk of postoperative infection or inflammation. Moreover, fibrin sealants are conveniently absorbed by the body during the wound healing process. Fibrin sealants are particularly useful in MI surgical procedures, especially in treating patients with clotting disorders. Currently, fibrin sealants are approved by the FDA as broad label hemostats for surgical procedures.
Increasing popularity of MI procedures
MI techniques are increasingly being used for managing diseases such as cancerous tumors, cardiac arrhythmias, and dermatological conditions. They are also used to treat patients that are critical or inoperable. These surgeries reduce the risk of infection and cause minimal complications, thus, resulting in shorter hospital stays, reduced pain, and faster recovery when compared to traditional open surgeries. The number of MI surgeries performed in urban hospitals in the US has increased four-fold between 2010 and 2014. The increase in MI surgical procedures is expected to increase the demand for wound closure devices and drive market growth until 2020.
Development of novel tissue sealants and hemostats
Many novel hemostats and tissue sealants are being developed to address trauma-associated hemorrhages and contaminations associated with sealants. For example, Novartis's Recombumin is a recombinant albumin derived from humans, which has the potential to seal leakages of fluids or gases from surgical incision sites. It is non-toxic and is highly cost-effective compared to animal-derived sealants. The launch of such products will have a significant impact on the market, and propel the demand for innovative products during the forecast period.
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