PUBLISHER: Grand View Research | PRODUCT CODE: 1375983
PUBLISHER: Grand View Research | PRODUCT CODE: 1375983
The global hemostasis and tissue sealing agents market size is expected to reach USD 14.47 billion by 2030, registering a CAGR of 8.9% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The agents have gained popularity over time due to their ability to prevent blood loss. The rapid growth of minimally invasive technology and the demand for faster recovery by patients are expected to promote market growth over the forecast period. According to the Centers for Disease Control and Prevention (CDC), approximately 150 million of the American population are currently suffering from at least one chronic condition, which leads to surgeries and even mortality at times.
An estimate over the rising incidence was made by the CDC, which concluded that over 48% of the entire American population is expected to suffer from chronic conditions. The market is expected to witness lucrative growth over the next seven years owing to an increase in product demand supported by the rising surgery volumes. Growth in the geriatric population and the prevalence of chronic conditions are also among the key factors driving the market. In December 2019, the Ethicon, a unit of Johnson & Johnson, launched its protein spray for blood-stopping, designed to quickly & efficiently control and seal off excessive bleeding during minimally invasive procedures and open surgeries.
During the COVID-19 pandemic, severe cases among patients infected by the virus have shown the tendency to develop septic shock and Acute Respiratory Distress Syndrome (ARDS), demanding special care in ICU, with residual chronic disability and poor long-term results. Among these patients in the ICU, Coagulopathy has been commonly noticed indicating underlying diseases and organ dysfunction. This has been one of the major contributing factors to the increasing demand for hemostasis & tissue sealing products.