What is the Current Valuation of the India Hemostat Market?

[RahulFMI]

In 2015, the Indian hemostat market reached a valuation of US$ 54.1 million, and it is anticipated to exhibit a compound annual growth rate (CAGR) of 5.8% during the period from 2016 to 2025. This projected expansion is primarily driven by continuous advancements in hemostatic products and the rising acceptance of these products among healthcare professionals and surgeons. This surge in adoption is fueled by the growing number of surgical procedures and trauma cases throughout the country.

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However, India hemostat market is projected to register a healthy CAGR of 5.8% during the forecast period owing to factors such as benefits offered by these products and creating product image of hemostat among key opinion leaders such as healthcare professionals. Moreover, increasing number of accidents and trauma injuries is expected to drive growth of the India hemostat market during the forecast period. This report assesses trends driving growth of each segment in the market, and offers potential takeaways and strategic recommendations for manufacturers seeking to enter the market.

This report covers the India hemostat market and various segments in terms of revenue contribution. The report also includes FMI’s analysis of key trends, drivers, restraints and opportunities that are influencing growth of the India hemostat market. Impact analysis of key growth drivers and restraints is included in this report to better equip clients with crystal-clear decision-making insights.

The hemostat market is segmented based on product type, product material base, applications and distribution. Based on product type, the market has been segmented into mechanical product type and flowable product type. The mechanical type segment is expected to register a CAGR of 6.0% during the forecast period. Flowable type segment is expected to witness a decline in market share in terms of revenue from 11.7% in 2015 to 10.1% in 2025. Overpriced products is expected to affect demand for hemostat products over the forecast period.

Basically there are two product material base; gelatin base and oxidised cellulose base, gelatin base comprises of 77.0% market share of hemostat market in India owing to maximum usage of gelatin in all hemostat products as it has property of absorbing blood flow at a faster speed and healing the wound.

Furthermore hemostat products are segmented into application, surgeries and trauma cases. Surgery segment is expected to witness a decline in market share in terms of revenue from 63.7% in 2015 to 61.8% in 2025. The trauma cases segment is expected to expand at the highest CAGR of 6.3% over the forecast period.

The market has also been segmented by distribution channel into hospitals, ambulatory surgical centres, clinics and online channels. The hospitals segment followed by ambulatory surgical centres is expected to account for the highest demand for hemostat products over the forecast period, registering a CAGR of 7.0% and 5.7%.

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Due to reimbursement for surgeries by insurance payers and increased in adoption of hemostat products by medical practitioners and surgeons. To reach out to the consumers and healthcare professionals manufacturers are supplying products through E-Commerce which is expected to push demand for hemostat products in the online channel over the forecast period.

Furthermore, Future Market Insights has developed market attractiveness index for all four segments: product type, product base, application and distribution channel segments. This index helps in identifying the real opportunities in the market.

Key market players covered in this report

Johnson and Johnson (Ethicon), Baxter, Aegis Lifesciences, Eucare Pharmaceuticals and Mil Laboratories. Major players are focusing on enhancing their regional presence through strategic mergers & acquisitions and by expanding operations.

Key Segments Covered

Segmentation on basis of Product Type

Mechanical type
Flowable type
Segmentation on basis of Product Material Base

Gelatin
Oxidized cellulose
Segmentation on basis of Application

Surgery
Trauma cases
Segmentation on basis of Distribution Channel

Hospitals
Ambulatory Surgical Centers
Clinics
Online Channels