The India hemostat market consists of products used to control bleeding during surgical procedures or trauma cases. Hemostats aid in coagulation by accelerating the clotting process of blood and sealing tissues. Some of the commonly used hemostats are thrombin-based hemostats, combination hemostats, oxidized regenerated cellulose-based hemostats and gelatin-based hemostats. They provide a mechanical and chemical means to obtain hemostasis and help surgeons maintain a clear field of view during operation. The growing volume of surgical procedures and increasing road accidents and trauma injuries in India have propelled the demand for hemostats over the past few years.
India Hemostat Market is estimated to be valued at US$ 90.54 Mn in 2024 and is expected to exhibit a CAGR of 5.4% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the India hemostat market are Ethicon Inc.(a subsidiary of Johnson Johnson Services,Inc.), Aegis Lifesciences. Eucare Pharmaceuticals (P) Ltd., Baxter , Axio Biosolutions Pvt Ltd, and Mil Laboratories Pvt Ltd. The market players are focusing on new product launches and business expansion strategies to strengthen their market position.
The India hemostat market growth is witnessing significant opportunities due to the rising prevalence of target diseases and increasing awareness regarding effective blood loss management. The market players should focus on developing advanced hemostats such as combination hemostats and fibrin sealants to leverage future opportunities.
Globally, the manufacturers are expanding their businesses in high potential markets such as India and China on account of an increasing aging population, developing healthcare infrastructure and rising medical tourism. They are investing in R&D activities, partnerships and acquisitions for long term growth.
Market drivers
The India hemostat market is primarily driven by the rising incidence of trauma injuries, accidents and surgical procedures in the country. As per the Ministry of Road Transport and Highways, India witnessed over 449,000 road accidents in 2020 causing loss of 146,000 lives. Moreover, the number of surgeries performed annually in India is estimated to increase from 26 million currently to 40 million by 2025. This is expected topropel the demand for hemostats for blood loss management during such procedures and trauma care.
PEST Analysis
Political: Stringent regulations regarding quality standards and approval processes for new hemostat products. Government support for advancement in healthcare infrastructure.
Economic: Rising healthcare expenditure per capita and rapid economic growth boosting the market size. Fluctuations in raw material prices impact manufacturing cost.
Social: Growing incidence of injuries and surgical procedures driving demand. Awareness about advanced hemostats for effective blood clotting.
Technological: Development of absorbable, reinforced and topical hemostats enabling rapid and reliable hemorrhage management. Adoption of robot-assisted surgical technologies improving precision and outcomes.
The India Hemostat Market Regions Analysis reveals that the India hemostat market is concentrated majorly in urban centers located in southern and western parts of the country in terms of value. States like Tamil Nadu, Andhra Pradesh, Kerala, Maharashtra, and Gujarat account for over 60% share due to the availability of advanced healthcare facilities and a higher burden of injuries or chronic illnesses necessitating surgical interventions.
The northeastern region spanning states of Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura is anticipated to emerge as the fastest growing regional market during the forecast period on account of ongoing government efforts to strengthen basic healthcare infrastructure and raise accessibility in remote rural areas through several initiatives. This would correspondingly upscale the demand for effective hemostats to manage bleeding episodes optimally.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile