Hemostats are used in surgical procedures to control the flow of blood. Increasing investments in the healthcare infrastructure along with the rise in the number of surgeries are augmenting the hemostatic agents market growth. Growing awareness of the clinical benefits associated with the use of hemostats such as wound closing, prevention of scarring and so on after the surgical procedure are propelling the market growth in developing region. Other factor impacting the market growth in the developing regions include the emergence of new products such as thrombin products which reduces the risk of disease transmission. Increasing private investments such as expansion of private hospital chains and rising demand for medical devices in the surgical procedures has been heightening the utilization of hemostats thus adding to growth of the market.
Usage of hemostatic agents is comparatively low in APAC region due to the lack of awareness, lower adoption rate and high prices. However, APAC region with emerging markets like India, China, Indonesia provides huge investment opportunities owing to improving emphasis on holistic surgical procedures in the healthcare systems, increasing popularity of topical hemostatic agents. APAC countries such as India, China and Japan are forecast to witness a decline in the average selling prices of hemostatic agents. This will open opportunities for the manufacturers to tap the potential market as the region remains price sensitive throughout the forecast period. Privatization and FDIs in the healthcare space also drives adoption of surgical consumables and their purchase in bulk. Asia-Pacific hemostatic agents market is projected to reach revenue of $1,527.7m by 2022 at a fastest CAGR of 11.4% during the forecast period 2017-2022. Asia-Pacific region accounted for around 14.5% of the global hemostatic agents market share in 2016.
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