Hemostasis and Tissue Sealing Agents Market Size, Share, Growth Analysis, By Application(General surgery, minimally invasive surgery, and others), By End user(Hospitals, ambulatory surgical centres, home care settings, and others), By Region - Industry Forecast 2024-2031

Hemostasis and Tissue Sealing Agents Market size was valued at USD 5.98 Billion in 2021 and is poised to grow from USD 6.4 Billion in 2022 to USD 11.08 Billion by 2030, at a CAGR of 7.1% during the forecast period (2023-2030).

The competitive landscape of the hemostasis and tissue sealing agents market is characterised by a diverse range of companies offering a variety of products to address the growing demand for effective hemostatic and tissue sealing solutions. These companies compete based on product innovation, efficacy, safety, regulatory approvals, and pricing. The market includes both established multinational corporations and smaller regional players, each striving to gain a competitive edge. Innovation plays a vital role in shaping the competitive landscape, with companies investing heavily in research and development to introduce new and advanced hemostasis and tissue sealing agents. These innovations often focus on improving product performance, reducing adverse reactions, and catering to specific surgical procedures or techniques, such as minimally invasive surgeries. 'Ethicon, Inc. - USA', 'Baxter International Inc. - USA', 'C.R. Bard, Inc. (acquired by BD/Becton Dickinson) - USA', 'Integra LifeSciences Holdings Corporation - USA', 'B. Braun Melsungen AG - Germany', 'Teleflex Incorporated -USA', 'Medtronic plc - Ireland', 'CryoLife, Inc. - USA', 'Smith & Nephew plc - United Kingdom', 'Pfizer Inc. (formerly Ethicon Biosurgery, a division of Ethicon, Inc.) - USA', 'Johnson & Johnson (Lifecell Corporation, a subsidiary) - USA', 'Cohera Medical, Inc. - USA', 'Pfizer Inc. (formerly King Pharmaceuticals, Inc.) - USA', 'Biom'Up - France', 'Hemostasis, LLC - USA', 'Tissuemed Ltd. - United Kingdom', 'The Medicines Company (acquired by Novartis) - USA', 'HyperBranch Medical Technology, Inc. (acquired by Stryker Corporation) - USA', 'Equimedical B.V. -: Netherlands', 'Ocular Therapeutix, Inc. -USA'

The growing preference for minimally invasive surgical techniques has boosted the demand for specialised hemostatic and tissue sealing agents suitable for use in laparoscopic, endoscopic, or robotic-assisted procedures. These agents play a vital role in ensuring effective hemostasis and tissue closure during less invasive surgeries.

Shift Towards Minimally Invasive Procedures: There has been a notable shift towards minimally invasive surgical techniques, which require specialised hemostasis and tissue sealing agents to ensure effective wound closure and tissue adhesion. As these procedures offer advantages such as smaller incisions, reduced scarring, and shorter recovery times, the demand for appropriate sealing agents has grown significantly.

The North American region, comprising the United States and Canada, holds a significant share of the Hemostasis and Tissue Sealing Agents market. The dominance of this region can be attributed to several factors, including a well-established healthcare infrastructure, high healthcare expenditure, and a large patient pool requiring surgical interventions. Moreover, the presence of key market players and their focus on research and development activities have contributed to the widespread adoption of advanced hemostatic and tissue sealing products. Additionally, the increasing prevalence of chronic diseases and the aging population have boosted the demand for surgical procedures, further driving the market's growth in North America.