The number of competitors in this field has rapidly multiplied, driven by the relatively low barriers to market entry and the recent market success of a range of different hemostat product types that are being steadily adopted in clinical practice. Hemostats have become accepted tools in the armamentaria of surgeons, both as stand alone products for stopping bleeding of traumatic and surgical wounds and as adjuncts to other wound sealing and closure technologies.
The natural course of proliferation inevitably leads to market consolidation and this is the short term prospect for products in hemostasis as well established players seek to literally buy greater market share and broaden their product portfolios.
Source: MedMarket Diligence, LLC; Report #S180 (pending publication).
