Pune, India, Jan. 04, 2022 (GLOBE NEWSWIRE) -- The Mexico Hemostats Market size is expected to grow from USD 50.3 million in 2021 and reach USD 79.1 million by 2028, exhibiting a CAGR of 6.7% during the forecast period. The growing cases of chronic diseases and fatal injuries can have a tremendous impact on the market growth, states Fortune Business Insights™, in its report, titled “Mexico Hemostats Market, 2021-2028.” The market size stood at USD 49.1 million in 2020.
Hemostats are devices that are used in medical surgeries to perform tasks effectively. Rising cases of chronic disorders and fatal injuries are likely to boost the adoption of medical devices. Increased healthcare expenditures and a rising focus on developing effective medical tools are expected to boost market development. Furthermore, rising investments in the healthcare and medical sector may promote industry growth during the upcoming years.
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The COVID-19 epidemic interrupted the normal healthcare services internationally. Mexican hospitals also observed a large decrease in emergency treatment operations for patients’ safety and backing the broader responses. In Mexico, for example, emergency surgical productivity fell by 65 percent during the COVID-19 shutdown, according to a study published in JPRAS. In addition, about 1,114 patients were treated by a plastic surgeon in Mexico in 2019, compared to only 393 instances in 2020.
Increased Incidence of Traumas and Accidents to Fuel Demand
One of the most prominent trends in modern healthcare is the rising incidence of chronic diseases such as cardiovascular diseases, malignancies, and increased traumas and accidents. This factor has resulted in a significant increase in the number of surgical operations performed in Mexico. For example, according to data from the Organisation for Economic Co-operation and Development (OECD), about 10,753 hip replacement surgeries were performed in Mexico in 2018. As a result, the market for hemostat products in the nation is rising, as many surgeons employ these agents in surgical operations with a low risk of bleeding. As a result, the aforementioned factors, in conjunction with the launch of technologically sophisticated goods in the nation, are expected to boost the Mexico hemostats market in the forthcoming years.
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Based on product, the Mexico market is classified into active, passive and combination hemostats, and others.
Based on application, the market is categorized into trauma, cardiovascular surgery, general surgery, plastic surgery, orthopedic surgery, neurosurgery, and others.
Based on end-user, the Mexico market is categorized into hospitals & ASCs, tactical combat casualty care centers, and others. Hospitals & ASCs are expected to hold the largest Mexico hemostats market share during the forecast period due to the growing number of hospitals and surgical centers in the country. Furthermore, the increasing need for specialist trauma treatment for military personnel participating in combat operations across the country is projected to add to the promising CAGR of tactical combat casualty care facilities.
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Diversified Product Portfolio of Companies to Reinforce Market
The Mexican market is moderate, with some local companies and foreign players contributing to Mexico's hemostats industry growth. Baxter, BD, 3-D Matrix Medical Technology, and Ethicon U.S., LLC are the most established players in the industry. The presence of a robust and diversified product portfolio, as well as strategic alliances, are the elements that have contributed to its supremacy.
- December 2019: Ethicon (Johnson & Johnson Services, Inc.) collaborated with Grifol to introduce VISTASEAL, which will help surgeons manage the bleeding during surgeries.
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The Report Lists the Key Players in this Market:
- Baxter (Deerfield, U.S.)
- CryoLife, Inc. (Kennesaw, U.S.)
- BD (Franklin Lakes, U.S.)
- Johnson & Johnson Services, Inc. (New Brunswick, U.S.)
- Cook (Indiana, U.S.)
- Dorian Drake International Inc. (New York, U.S.)
- 3-D Matrix Medical Technology (Tokyo, Japan)
- EndoClot Plus, Inc. (California, U.S.)
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