The report forecasts the global hemostats and tissue sealants market to grow at a CAGR of 8.72% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend that will boost market growth is the approval of fibrin sealants as broad level hemostats. Fibrin sealants aid in the rapid formation of a stable clot. They can be applied to small blood vessels and to areas that cannot be addressed with conventional sutures. Fibrin sealants are particularly useful in MI surgical procedures, especially in treating patients with clotting disorders.
According to the report, a key growth driver is the focus on patient safety and quicker recovery. 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. For instance, according to the CDC, each year 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.
Further, the report states that one challenge that could restrict market growth is the paucity of ready-to-use products.