The India hemostat market comprises devices that control bleeding during surgeries through direct physical compression or surgical sealants. Hemostats help control bleeding through either mechanical or natural means such as acceleration of the clotting process. The market has witnessed significant growth owing to the rising number of surgeries across the country. The Government of India has undertaken various initiatives to boost healthcare infrastructure and increase healthcare access. This has led to a proliferating number of hospitals, clinics, and other medical facilities conducting complex surgeries. As per the Indian Brand Equity Foundation, the country performs over 25 million surgeries annually. The National Health Policy 2017 aims to increase public healthcare spending to 2.5% of GDP by 2025. Such initiatives are favoring market growth in India.
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 market are Ethicon US LLC, Baxter, B. Braun Melsungen AG, Pfizer Inc. HemCon Medical Technologies Inc.
India Hemostat Market Demand is rising number of surgical procedures across both public and private healthcare facilities in India is a key factor driving the market. According to the National Health Profile 2019 report by the Central Bureau of Health Intelligence, over 11.6 million surgeries were performed in government hospitals in 2018. In addition, India accounted for over 25 million total surgeries performed in 2018 as per data from the National Health Agency. Major players are focusing on launching advanced hemostats to leverage the growth opportunities. For instance, in January 2020, Baxter launched TissuGlu surgical sealant designed to control bleeding during vascular reconstruction procedures.
Technological advancements are also helping boost the adoption of advanced hemostats. Major players are focusing on developing hemostats that help achieve faster wound closure, involve minimal procedural steps, and enable reduced post-surgical hospitalization times. For example, in September 2019, Cryolife launched the OnControl system – a cryo-hemostat designed to control bleeding during cardiac and vascular procedures. The device involves a single-step application and enables faster hemostasis compared to traditional compression methods.
Market Trends
Growing demand for topical hemostats – Topical hemostats help control bleeding externally through direct physical compression over surgical wounds. Their adoption is growing owing to ease of use and minimal procedural steps involved. Manufacturers are focusing on developing advanced topical hemostats that aid faster would healing.
Increasing adoption of advanced surgical sealants – Surgical sealants help control bleeding through activation of the body’s natural clotting cascade. They provide reliable and rapid hemostasis. With the increasing number of complex surgeries, the adoption of advanced sealants that offer one-step application and long-lasting effects is rising.
Market Opportunities
Rising medical tourism – India is emerging as a major destination for medical tourism owing to availability of quality affordable healthcare. This is expected to increase the number of surgeries conducted in the country, driving hemostat demand.
Growing demand in tier 2/3 cities – With the expansion of healthcare infrastructure to tier 2/3 cities through various government initiatives, the number of surgeries being performed is increasing in rural and semi-urban areas as well. This offers lucrative growth opportunities.
India Hemostat Market Impact of COVID-19
The COVID-19 pandemic has significantly impacted India’s hemostats market growth. During the initial lockdown phases in 2020, the market witnessed a steep decline as elective surgeries were postponed to avoid strain on the healthcare infrastructure and prioritize COVID-19 treatment. However, demand for hemostats was witnessed from COVID-19-related surgeries. As the lockdowns eased, the market started recovering with resumption of non-COVID healthcare services under proper protocols. Yet, supply chain disruptions and staffing shortages at healthcare facilities affected the market growth. With rising vaccination rates, the hemostats market is anticipated to pick up pace from 2022 onward. However, risks of subsequent infection waves continue to pose challenges for market players.
South India has traditionally been one of the most lucrative regions for the India hemostats market in terms of value. States like Tamil Nadu, Karnataka and Andhra Pradesh contribute over 35% to the country’s overall healthcare expenditure. These states have witnessed tremendous growth in healthcare infrastructure and medical tourism in recent years. However, due to the severity of the second wave in 2021, South India bore a major brunt, which stalled the growth momentum of the hemostats market temporarily. With infections decreasing, the demand is recovering steadily in this region.
The North Indian region, consisting of Delhi NCR, Uttar Pradesh, Haryana, Punjab etc. has emerged as the fastest growing region for India hemostats market since 2021. Aggressive vaccination drives aided North India to recover quicker than other regions from the pandemic’s impact. States like Haryana and Punjab have invested heavily in upgrading public and private medical facilities. This has boosted surgical volumes and correspondingly, the uptake of hemostats in North India outpaced other regions in the past year. If vaccination coverage widens and subsequent outbreaks are contained, North India is expected to lead the market growth over the forecast period.
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