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Hemostats Market Estimated to Flourish by 2024

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Hemostat is a surgical tool used to control bleeding during surgery. Hemostats are applied by the means of tissue sealants and tissue adhesion agents. Tissue sealants and adhesives are mainly classified into two types namely, physical agents and biological substrates. Tissue sealants, tissue adhesives and adhesion prevention products are rapidly replacing conventional sutures for wound and incision closure. Advantages of tissue sealants, tissue adhesives and adhesion prevention products over conventional suture involve minimal invasive application, improve visualization, reduced operating time, prevention of leakage of non-blood fluids and reduced post-operative infection risks and thereby reduction in hospital stays and overall medical costs.

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Wide rangeof applications, continuous advancement in product portfolio, technological advancement facilitating the end users and insurance support to manufacturers in promoting tissue sealants are the major driving forces of the global hemostatsmarket. On the other hand, low awareness about the products and stringent regulatory rules to control and regulate the tissue adhesives and tissue sealantsindustry are restraining the potential growth of this market.

Currently, North America dominates the global hemostats market and is followed by Europe due early adoption of highly developed technologies in general healthcare and swift adoption of innovative products in these regions.Asia-Pacific is a promising market for hemostatsand is expected to undergo rapid market growth due to phenomenal growth in the medical tourism industry, increase in purchasing power, rapidly improving healthcare infrastructure and increased awareness. Some of the major companies contributing to this market include 3M, ADCO Global, Inc., Abbott Laboratories, Advanced Medical Solutions Group, Plc. and Dymax Corporation.

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This research report analyzes this market depending on its market segments, major geographies, and current market trends.

This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.

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