Hemostasis and coagulation products play an important role in the operating room whether in a hospital or an ambulatory surgery center. These products help prevent uncontrolled bleeding during surgery reducing the occurrence of complications, including death in extreme cases.
“Bleeding during surgical procedures puts extra stress on the patient’s organs, which can lead to other problems,” says Dr. Terry Norchi, the CEO of Arch Therapeutics. “Also, when patients bleed significantly during surgical procedures, the visual field can become compromised for surgeons, which can increase the risk of error.”
Transparency Market Research, a next-generation provider of research and consulting services, recently issued a report on the hemostasis market with a forecast period ending in 2019.
“In the hemostats and sealants market, several formulations of fibrinogen and thrombin have been developed, the most popular and commonly used product being the liquid fibrin sealant product in which the fibrinogen and thrombin are stored separately as lyophilized powder or frozen liquid. The other popular product which has captured large share of market is recothrom by the Medicines Company,” according to Transparency Market Research. “Recrothrom is the human recombinant thrombin used as an aid for hemostasis. The market for this segment is increasing rapidly as these products act quickly and are safe in comparison to the topical agents. Topical agents sometimes cause infection leading to fatal consequences.”
Innovation and new products are among reasons Transparency Market Research predicts growth in this market.
“The hemostasis market is growing at a faster pace with Johnson & Johnson (JNJ) being the major market player,” the Transparency Market Research report adds. “Johnson & Johnson offers distinguished products in hemostasis market under its wholly owned subsidiary Ethicon 360. Ethicon 360’s products which are under hemostasis product portfolio are approved by the Food and Drug Administration (FDA). Recently, in October 2013, JNJ received clearance from FDA for Harmonic Ace +7, the first ultrasonic surgical devices indicated to seal vessels up to 7 mm. Extensive research and the new innovative products are the major reasons which are helping the market to grow. As recently, Arch Therapeutics Inc. has developed a revolutionary product to stop bleeding faster than any other product available in market by the name AC5. AC5 is currently in preclinical testing and takes an average time of 15 seconds to stop bleeding in comparison to 80 seconds to 300 seconds taken by other treatments methods.”
Grand View Research, a U.S. based market research and consulting company, expects the hemostasis and tissue sealing agents market to expand through 2022.
“Global hemostasis and tissue sealing agents market size was valued at $3.3 billion in 2014. Hemostats and sealants are medical devices used to cease bleeding and hemorrhage caused by injuries and surgical procedures,” according to the Grand View Research report. “The industry is expected to witness lucrative growth over the next seven years owing to an increase in demand supported by rising surgery volumes.”