The hemostat market in India is growing steadily owing to rising healthcare expenditure and increased infrastructure in healthcare facilities. Hemostats are medical devices or agents used to control bleeding by accelerating the clotting process of blood. They help surgeons stop blood loss during complex surgical procedures. Common types of hemostats available are mechanical hemostats, active hemostats, flowable hemostats, and combinations. Mechanical hemostats include devices like surgical staplers and clips that physically restrict blood flow at the site of injury. Active hemostats contain substances like collagen, oxidized regenerated cellulose, and gelatin-based matrices that trigger platelet aggregation to accelerate clotting.Flowable hemostats allow surgeons to easily apply agents at bleeding sites.



The India hemostat market is estimated to be valued at US$ 81.5 million in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030.



Key Takeaways



Key players operating in the India Hemostat are Ethicon (J&J), Baxter International Inc., C. R. Bard, B Braun Melsungen AG, Integra LifeSciences, Marine Polymer Technologies, Gelita Medical GmbH, and Pfizer.



India Hemostat Market Demand is increasing adoption of minimally invasive surgeries and rapid infrastructure development of hospitals provides ample growth opportunities in the Indian hemostat market.



Technological advancements in hemostatic agents like combination matrix plus thrombin-based products and locally activatable matrices that aid quicker and more effective hemostasis are driving market growth.



Market drivers



Rising healthcare expenditure in India is a key factor fueling the hemostat market growth. Total healthcare spending increased from 3.6% of GDP in 2016 to 3.8% of GDP in 2018 according to government data. This increased funding is enabling hospitals to incorporate advanced hemostats in complex surgeries. Additionally, a favorable regulatory environment and frequent product approvals are encouraging foreign players to expand in India, thereby propelling market competition and development.



Current Challenges in India Hemostat Market

The India hemostat market is currently facing several challenges. One major challenge is the increasing prevalence of chronic diseases like cancer that require surgical procedures. This is leading to higher demand for hemostat products in the country. However, supply constraints and limited local manufacturing are restricting overall market growth. There is also lack of awareness about advanced hemostat products among surgeons and healthcare professionals in India. This acts as a barrier for newer product adoption. High costs of imported hemostat devices is another important issue as it makes these products unaffordable for many patients. Overall, India's underdeveloped healthcare infrastructure and lower healthcare spending continue to hamper faster growth of the hemostat market.



SWOT Analysis



Strength: India has a large patient population that requires surgical procedures. This ensures strong demand potential for hemostat products. Weakness: Limited local manufacturing leads to high dependency on imports. Opportunity: Growing medical tourism and investments in healthcare present an opportunity to increase production and marketing of advanced hemostat devices. Threats: Price control policies and stringent regulatory norms can threaten profit margins of market players.



Geographical Regions



North America accounts for the largest share in the global hemostat market in terms of value. This is mainly due to high adoption of technologically advanced hemostat products and growing number of surgical procedures in countries like the US and Canada. India is currently the fastest growing regional market for hemostats. This can be attributed to factors like rising healthcare expenditure, increasing medical tourism and government initiatives to strengthen the overall healthcare infrastructure.

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