Global Hemostatic Matrix Market - 2024-2031

Market Overview

The Global Hemostatic Matrix Market reached US$ 2.92 billion in 2023 and is expected to reach US$ 4.70 billion by 2031, growing at a CAGR of 6.2% during the forecast period 2024-2031.

A hemostatic matrix is a specialized medical product designed to control bleeding during surgical procedures. It typically consists of a flowable gelatin matrix combined with a thrombin component. This combination is particularly useful in situations where traditional surgical techniques, such as cautery, ligature, or sutures, are either, impractical or ineffective.

The rising number of surgical are expected to drive the demand for the hemostatic matrix market. For instance, according to the World Health Organization (WHO) data in December  2023, over, 1,19 million people die in road accidents annually, many suffering from severe bleeding that requires surgical intervention. A need for effective hemostatic matrix agents in trauma surgeries.

Market Dynamics: Drivers

Growing number of surgical procedures 

The demand for the global hemostatic matrix market is driven by multiple factors. The rise in surgical procedures worldwide is a primary driver for the hemostatic matrix market. As the global population ages, there is a higher incidence of age-related health issues that require surgical procedures. As per University of Virginia news in July 2024, by 2030, it is projected that 20% of the U.S. population will be over 65 years old, leading to increased demand for surgeries such as joint replacements and cardiovascular procedures. The rising demand for surgical procedures contributes to the hemostatic matrix market's expansion. 

Furthermore, key players in the industry product launches and approvals that would drive this hemostatic matrix market growth. For instance, in April 2023, Olympus launched the EndoClot portfolio, which includes hemostatic agents and a submucosal injection solution, specifically designed for gastrointestinal procedures. This innovative product line aims to enhance hemostasis and facilitate lifting during endoscopic submucosal dissection (ESD) or endoscopic mucosal resection (EMR). This solution is intended to provide a long-lasting mucosal lift during endoscopic procedures. 

Thus, the growing number of surgical procedures is expected to drive the hemostatic matrix market growth.

Restraints

Product recalls

Product recalls represent a significant restraint in the global hemostatic matrix market, impacting manufacturers, healthcare providers, and patients. Recalls often arise due to safety concerns that could compromise patient health. For instance, if a hemostatic agent is found to be ineffective or contaminated, it could lead to adverse surgical outcomes. 

For instance, in September 2024, Baxter Healthcare issued a voluntary recall for certain batches of its Tisseel Lyo Fibrin Sealant Kits due to issues identified during stability studies. This recall is significant as it highlights the importance of product quality and safety in medical devices, particularly those used in surgical settings. Thus, the above factors could hinder the hemostatic matrix market.

Market Segment Analysis

The global hemostatic matrix market is segmented based on product type, form, application, end-user, distribution channel, and region.

The thrombin-based hemostatic matrix segment accounted for approximately XX% of the global hemostatic matrix market  share

The thrombin-based hemostatic matrix segment is expected to hold the largest market share over the forecast period. A thrombin-based hemostatic matrix is a medical device utilized primarily to control bleeding during surgical procedures. It combines a gelatin matrix with thrombin, creating a product that enhances hemostasis when traditional methods, such as ligatures, are ineffective or impractical. The thrombin-based hemostatic matrix operates through two primary mechanisms: mechanical action and biochemical action. These mechanisms work synergistically to control bleeding during surgical procedures, making these matrices effective in a variety of clinical settings.

Furthermore, key players in the industry more focus on the research activities and product developments that would drive this segment's growth in the hemostatic matrix market. According to NCBI research study data in October 2023, the effectiveness of Floseal, a thrombin-based hemostatic matrix, in minimizing blood loss and reducing transfusion requirements during total knee arthroplasty (TKA) remains a contentious issue within the medical community. This meta-analysis aims to synthesize the findings from recent randomized controlled trials (RCTs) to evaluate the efficacy and safety of Floseal specifically in the context of TKA. These factors have solidified the segment's position in the hemostatic matrix market.

Market Geographical Share

North America accounted for approximately XX% of the global hemostatic matrix market  share

North America region is expected to hold the largest market share over the forecast period owing to the rising prevalence of chronic diseases such as cardiovascular disease (CVD), diabetes, and obesity. These conditions often required surgical treatments, contributing to the growing volume of surgeries performed. 

As the prevalence of CVD rises, there will be a corresponding increase in surgical interventions related to cardiovascular conditions, such as coronary artery bypass grafting (CABG), valve replacements, and other cardiac surgeries. The rising number of surgeries is a primary driver for the hemostatic matrix market. As per the American Heart Association news in July 2024, with more than 184 million people expected to be affected by some form of CVD by 2050, and total CVD-related costs anticipated to triple to approximately $1.8 trillion, the demand for effective hemostatic matrix solutions.

Furthermore, in this region, a major number of key players' presence, well-advanced healthcare infrastructure, government initiatives & regulatory support,  investments, and product launches & approvals would propel the hemostatic matrix market growth. For instance, in November 2023, in New Jersey, Ethicon, a Johnson & Johnson MedTech company, announced the approval of ETHIZIA, an innovative hemostatic sealing patch designed to address challenging bleeding situations during surgical procedures. This product is notable for its unique synthetic polymer technology, which allows it to be effective on both sides, making it the first of its kind in the market. The patch is engineered for maximum adaptability; it can be stuffed, rolled, pulled apart, trimmed, and tailored, facilitating its use in both open and minimally invasive surgeries. 

In clinical trials, ETHIZIA demonstrated the ability to stop bleeding in 80% of patients within just 30 seconds, significantly faster than traditional fibrin sealant patches. Thus, the above factors are consolidating the region's position as a dominant force in the hemostatic matrix market.

Market Segmentation

By Product Type

• Gelatin-based Hemostatic Matrix
• Collagen-based Hemostatic Matrix
• Thrombin-based Hemostatic Matrix
• Combination Hemostatic Matrix 

By Form

• Gel
• Foam
• Powder
• Paste

By Application

• Surgical Procedures
  • Cardiovascular Surgery
  • Orthopedic Surgery
  • Neurosurgery
  • General Surgery
  • Gynecological Surgery
  • Urology Surgery
  • Others
• Trauma Care
• Wound Care

By End-User

• Hospitals
• Ambulatory Surgical Centers
• Trauma Centers
• Specialty Clinics

By Distribution Channel

• Direct Sales
• Medical Supply Distributors
• Online Sales

By Region

• North America
  • U.S.