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Hemostasis Diagnostic Devices And Equipment Global Market Report 2022

Hemostasis Diagnostic Devices And Equipment Global Market Report 2022

  • May 2022
  • ID: 6277239
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the hemostasis diagnostic devices and equipment market are C.R. Bard, Baxter International Inc, Pfizer Inc, Johnson & Johnson, Abbott Laboratories, Beckman Coulter Inc, Becton, Dickinson and Company, Chrono-Log Corporation, CSL Behring LLC, and F. Hoffmann-La Roche Ltd.

The global hemostasis diagnostic devices and equipment market is expected to grow from $4.1 billion in 2021 to $4.81 billion in 2022 at a compound annual growth rate (CAGR) of 17.4%. The market is expected to grow to $8.57 billion in 2026 at a compound annual growth rate (CAGR) of 15.5%.

The hemostasis diagnostic devices and equipment market consists of sales of hemostasis diagnostic devices.Hemostasis is a process of slowing and stopping the blood flow to initiate wound healing after a vascular injury.

Hemostasis is the first step of healing a wound, it happens in three main stages, blood coagulation, platelet plug formation, and lastly vasoconstriction.Three types of devices help speed up the hemostasis process, vascular closure devices (VCD), compression devices, and there are bandages coated with agents which will speed the clotting process.

With the help of hemostasis diagnostic devices, we can predict the cause of bleeding during surgery by identifying any hemostatic defects which patients may have.

The main products of hemostasis diagnostic devices and equipment are analyzers, coagulation instruments, other hemostasis instruments, and reagents and kits.A hemostasis diagnostic analyzer is a tool utilized to predict the cause of bleeding during surgery by identifying any hemostatic defects.

The hemostasis diagnostic devices and equipment are automated, semi-automated, and manual that is used by hospitals, clinics, independent diagnostic, laboratories, and others.

North America was the largest region in the hemostasis diagnostic devices and equipment market in 2021.Asia Pacific was the second-largest region in the hemostasis diagnostic devices and equipment market.

The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The increased likelihood of older people being diagnosed with a disease is driving the number of surgeries such as cardiovascular diseases (CVD), using hemostasis devices.Due to the higher incidence of diseases with advancing age, there is an increase in the number of surgeries in elderly patients nowadays.

These hemostasis devices are very efficient in speeding up the natural process of clotting in the blood and can monitor anticoagulation and transfusion therapy guidance in any surgery.

According to the American Heart Association report, Americans older than 80 have a high risk of devolving a cardiovascular disease (CVD), around 83% of men and 87.1% of females will be suffering from any form of CVD, therefore, to improve the comfort of the patient and the success rate of surgeries as a result hemostasis device has been implemented widely.

The use of hemostasis devices in hospitals or clinics requires a very lengthy approval procedure which is restraining the market.Before hemostasis devices can enter the market for commercial use they have to clear the regulations set by the Code of Federal Regulations (title 21).

The process of approval consists firstly identification of the device, secondly classification of the device and finally, the date of the pre-market approval (PMA) or the notice of completion of prescription drug plan (PDP) is required.It is a very long and time-consuming approval process that discourages new entrants from entering this market.

For example, Cardiva medical Inc. had to wait for a processing period of four months before they received approval to change the existing equipment with a newer and modern one.

The emergence of new and improved technology in the hemostasis diagnostic device and equipment market.To improve the quality and success rate of operations, new and improved technology such as the collagen vascular hemostasis devices have been implemented.

Collagen is the main structural protein found in skin and other connective tissues.It is widely used in purified form for cosmetic surgical treatments and has now emerged in the hemostasis diagnostic devices market.

A patient can face immobility right after a femoral surgery leading to increased discomfort, as a result, collagen-based closure devices have been implemented.According to a study conducted by the American Journal of Neuroradiology which they surveyed 698 Angio-Seal closures, using the Angio seal reduced the average time before mobilization by close to 15 minutes with no major complications.

Angio seal is a type of collagen hemostasis device which reduces the average time of hemostasis and betters the mobilization of the patient.

In 2021, Baxter International Inc., a leading global medical products company, has announced its Baxter Healthcare Corporation subsidiary has completed the acquisition of certain assets related to PerClot Polysaccharide Hemostatic System from CryoLife, Inc for up to $60.8 million, as well as $25 million paid upfront. This acquisition helps the transaction reinforces Baxter’s strategy of acquiring products and technologies that both complement and augment the company’s leading portfolio. CryoLife, Inc. is one of the world’s leading contemporary medical device companies.

The countries covered in the hemostasis diagnostic devices and equipment market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.

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