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India Hemostat Market Analysis| Coherent Market Insights

Mechanical hemostat held dominant position in India hemostat market in 2018,accounting for 88.8% share in terms of value, followed by 2027.

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India Hemostat Market Analysis| Coherent Market Insights

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. INDIA HEMOSTAT MARKET ANALYSIS India HemostatMarket,ByProduct Form (Mechanical, Flowable), By Product Base (Gelatin, Cellulose), By Application (Surgeries, Trauma Cases), By End User (Hospitals, Ambulatory Surgical Centers, Clinics) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027

  3. India hemostat market is estimated to account for US$ 63.1 Mn in terms of value in 2018 and is expected to reach US$ 105.1 Mn by the end of 2027. Drivers • High prevalence of blood disorders is expected to propel growth of India hemostat market over the forecast period. For instance, according to the World Health Organization, India recorded 42055 new cases and 32,471 deaths due to leukemia in 2018.   • Moreover, increase geriatric population is also expected to aid in growth of the market. For instance, according to the United Nations April 2019 data, the share of geriatric population in India is expected to increase to nearly 20% in 2050 • Mechanical hemostat held dominant position in India hemostat market in 2018, accounting for 88.8% share in terms of value, followed by 2027.

  4. Market Restraints • No or low awareness among medical faculty regarding latest hemostat products is expected to hinder growth of India hemostatmarket.Medicalfaculty at majority of government-run and private hospitals in India have no or low awareness of the latest hemostatproducts.Useof conventional practices during surgeries are still followed in a majority of the hospitals across the country.Furthermore, reluctance to shift to newer and more advanced hemostat products is attributed to low availability and visibility of such products in the country.  • High cost of hemostat products is also expected to hamper growth of the market.Majorityof hemostat products manufacturers offer products at prices that may be seen as steep by some customers.Inaddition,internationalproducts are mainly available in tier 1 cities and are priced relatively higher that those manufactured by domestic players.  

  5. Market Trends • Mechanical hemostat products are widely utilized more by surgeons and other medical practitioners due to high efficiency in controlling blood loss. Doctors and surgeons in metro cities such as Bangalore and Delhi prefer sponges, gauzes, strips, film, and others during various surgeries. • Surgeons in Tier 1 cities are gradually shifting preference towards hemostat products. This is owing to benefits of hemostats such as superior absorption capability and positive outcomes of patients.

  6. Market Opportunities • Increasing preference for out-patient surgeries is expected to offer lucrative growth opportunities for players in India hemostat market. Out-patient surgeries result in lower healthcare expenditure. Therefore, out-patient surgeries are more preferred for cover by insurance payers offering medical reimbursement services. Moreover, out-patient surgeries do not require overnight or prolonged stays in hospitals. • Moreover, low cost of surgeries is also expected to aid in growth of the market. The average hospital charge for a total knee replacement (TKR) in the U.S. is US$ 49,500, whereas in India the surgery costs around US$ 2,800. • Surgeries segment in India hemostat market was valued at US$ 39.8 Mn in 2018 and is expected to reach US$ 64.4 Mn by 2027 at a CAGR of 5.4% during the forecast period.

  7. Competitive Section Major players operating in India hemostat market include, Ethicon Inc., Aegis Lifesciences. Eucare Pharmaceuticals (P) Ltd., Baxter International, AxioBiosolutions Private Limited, and Mil Laboratories.

  8. Key Developments • Players in the market are focused on raising funding to expand their geographical presence. For instance, in January 2020, AxioBiosolutions Private Limited raised US$ 5.2 Mn in Series B-1 round. The company plans to use the latest funding to expand its footprint in the U.S. and Western Europe. • Major players in the market are also focused on launching new products to expand their product portfolio. For instance, in December 2019, Baxter International launched its disposable curved applicator that is designed to enhance the delivery of its FlosealHemostatic Matrix product line.

  9. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst Reference: https://www.coherentmarketinsights.com/market-insight/india-hemostat-market-3524

  10. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

  11. Contact Us Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

  12. Thank You! Kindly follow CMI Social Media Profiles for the latest company updates Facebook Linkedin Twitter https://www.coherentmarketinsights.com/

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