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(Health-NewsWire.Net, December 08, 2021 ) According to the new market research report, "European Hemostats & Sealants Market by Brand (Hemopatch [Baxter], Tachosil [Takeda], Veriset [Medtronic], Avitene [C.R Bard], Sangustop [B Braun], Lyostypt [B Braun]), Country (Germany, Uk, France, Italy & Spain) - Forecast to 2024", The European hemostats and sealants market is projected to reach USD 89 million by 2024 from USD 63 million in 2019, at a CAGR of 7.0%.
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Growth Boosting Factors:
The growth of this market is majorly driven by the launch of new products and favorable reimbursement scenario. However, the shift toward minimally invasive surgeries and adverse effect of hemostats are the major factors restraining the growth of this market.
Hemostats help in controlling bleeding at the site of wound or performing various open surgeries. The different types of products used include thrombin-based hemostats, combination hemostats, oxidized regenerated cellulose-based hemostats, gelatin-based hemostats, and collagen-based hemostats. Of these, combination hemostats are anticipated to grow at the highest rate in Europe, as they reduce the risk of side-effects post-application
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The market for hemostats and sealants is anticipated to grow mainly due to the launch of the new products, M&A’s, and favorable reimbursement scenario in Europe. However, the increasing preference for minimally invasive surgeries and the reducing preference for the usage of hemostats while performing surgeries are expected to hinder the growth of this market during the forecast year. Leading players operating in this market are Ethicon (J&J), Baxter, Pfizer, Baxter, C. R. Bard, and B. Braun.
Focused brands for this study are Hemopatch (Baxter), Tachosil (Takeda), Veriset (Medtronic), Avitene (C. R. Bard), and Sangustop & Lyostypt (B Braun).
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