Mexico Hemostats Market Size, Share & COVID-19 Impact Analysis, By Product (Active {Thrombin based, and Fibrin Sealants}, Passive {Plant Based, Animal-Based, and Others}, Combination Hemostats, and Others); By Application (Trauma, Cardiovascular Surgery, General Surgery, Plastic Surgery, Orthopedic Surgery, Neurosurgery, and Others); By End-User (Hospitals & ASCs, Tactical Combat Casualty Care Centers, and Others), and Forecast, 2021-2028

The Mexico hemostats market size was USD 49.1 million in 2020 and is projected to grow from USD 50.3 million in 2021 to USD 79.1 million in 2028, exhibiting a CAGR of 6.7% in the 2021-2028 period. Based on our analysis, this market exhibited a lower growth of -16.0% in 2020 as compared to the average year-on-year growth during 2017-2020. The impact of COVID-19 has been unprecedented and staggering, with hemostats witnessing a negative impact on demand across Mexico amid the pandemic. The rise in CAGR is attributable to this market’s demand and growth rate, returning to pre-pandemic levels once the pandemic is over.

Achieving hemostasis is a crucial focus of healthcare professionals working during trauma settings and other surgical procedures. Topical agents such as active, passive/mechanical, and flowable hemostats are usually used by surgeons to control bleeding and maintain hemostasis. There has been a surge in demand for these agents among surgeons due to the growing prevalence of chronic diseases, major organ surgeries, cesarean deliveries, and fatal injuries in the country. This factor might boost the market development during the forecast period.

Limited Number of Surgeries Negatively Impact the Market in Mexico Amid COVID-19

The COVID-19 outbreak disrupted routine hospital services globally. Mexican hospitals also witnessed a huge reduction in elective surgery procedures in the interest of patients’ safety and supporting the more comprehensive response.

• For instance, according to a research article published by JPRAS, emergency surgical productivity showed a 65% reduction during the COVID-19 lockdown in Mexico. Also, in2019 around 1,114 patients were treated by a plastic surgeon in Mexico, while only 393 cases were seen in 2020.

Hence, the reduction in surgical procedures led to a decline in the demand for active and passive hemostats in Mexico in 2020.

LATEST TRENDS

Growing Number of Ambulatory Surgical Centers and Hospitals to Boost the Market Growth

Over the past few years, Mexico is witnessing a rapid increase in the number of hospitals and other medical institutions to meet the growing demands for healthcare needs. This surging trend positively correlates with the increasing number of surgical procedures, which often necessitate hemostasis and products usage to manage bleeding complications during surgeries.

• For instance, according to an article published by NCBI, in 2019, the number of hospitals operating in Mexico was 4,707, up from 4,629 in 2018. This figure has constantly been increasing since 2014, when the number of medical facilities in the country was 4,395.

At the same time, the increasing prevalence of almost all types of chronic diseases further requires surgical procedures for adequate disease management. Furthermore, due to the variations in the medical conditions and healthcare infrastructure across the country, the number of hospitals and other surgical centers are increasing. Such developments are expected to create more opportunities for the conduction of surgical procedures and thus present significant growth opportunities for the hemostatic agents in the country.

DRIVING FACTORS

Rise in Number of Surgical Procedures Performed in Mexico to Boost the Market Growth

In the modern healthcare scenario, one of the most prevailing trends is the increasing prevalence of several types of chronic diseases such as cardiovascular diseases, cancers, increasing occurrences of traumas, and accidents. This factor has led to a substantial rise in number of patients undergoing surgeries in the country.

• For instance, according to Organisation for Economic Co-operation and Development (OECD), in 2018, approximately 10,753 hip replacement procedures were conducted in Mexico.

A surgical procedure is a complex endeavor and can lead to the development of several complications. One of the most common complications is the occurrence of bleeding during surgical procedures.

• For instance, according to an article published by NCBI, around 60-70% of all transfused red blood cells are utilized in a surgical setting, as bleeding during surgeries is one of the most feared complications to occur in these procedures.

Therefore, this has led to increasing demand for these products in the country. Moreover, the introduction of technologically advanced products in the country is anticipated to augment the hemostats market growth during the forecast period.

RESTRAINING FACTORS

High Cost and Other Clinical Limitations of the Marketed Products to Hamper the Market Growth

Despite the product’s ability to control bleeding complications during surgical procedures and a significantly lower risk of infections, the high costs of these agents have limited their adoption.

• For instance, according to an article published by ScienceDirect, in the scenarios of uncontrolled bleeding during surgical procedures, the costs attributed to hemostats are significantly higher. This factor limits the greater adoption of these agents, thus restraining the market growth in the forecast period.

Another limiting factor affecting the market is the clinical limitations associated with certain products. Some of the clinical limitations of these agents include the fact that in some instances of problematic and difficult bleeding, no single hemostat can conclusively manage the problem. These situations may necessitate the involvement of a combinational treatment, with the usage of these products coupled with conventional methods, which may turn out to be cumbersome, time-consuming, and expensive.

These occurrences are especially applicable in severe trauma cases, where the bleeding is often uncontrollable in terms of nature, and no clinical study has adequately substantiated the positive effects of using the hemostatic agents alone in these scenarios. Hence, these factors may limit the Mexico hemostats market growth during the forecast period.

SEGMENTATION

By Product Analysis

Passive Segment Held the Dominant Share

Based on product, the Mexico hemostats market is segmented into active, passive, combination hemostats, and others.

Passive segment accounted for a dominating market share in 2020. A large number of approved products of this type coupled with being one of the first established products due to its lower costs in the market is expected to drive the dominance of this segment. Moreover, due to its efficacy in dealing with bleeding complications swiftly, it is highly preferred among surgeons during complex surgical procedures such as neurovascular surgeries, cardiovascular surgeries, and others. SURGICEL, an oxidized regenerated cellulose-based hemostat, is one of the preferred products among surgeons in Mexico.

On the other hand, combination hemostats are anticipated to register a lucrative CAGR owing to the rising number of product launches of this segment, such as Baxter’s Floseal.

By Application Analysis

Cardiovascular Surgery Dominated the Market in 2020

The cardiovascular surgery segment held the lion’s share in 2020. The rising prevalence of cardiovascular diseases needing surgical intervention is expected to drive the segment's growth during the forecast period.

• For instance, according to an article published by ResearchGate, an estimated 140,000 cases of acute myocardial infarction in Mexico needing surgical intervention are reported every year.

Trauma is estimated to account for the second-largest market share in 2020. Since these agents are especially required in procedures with significant blood loss in surgical procedures, this is expected to boost the market growth of this segment.

Other applications include plastic surgery, neurosurgery, orthopedic surgery, general surgery, and other surgeries. Rising number of orthopedic surgeries including ACL reconstruction surgeies which are associated with blood loss, is leading to increasing demand for products to manage bleeding.

By End-User Analysis

Hospitals & ASCs Held the Maximum Share in 2020

Based on end-user, the Mexico market is categorized into hospitals & ASCs, tactical combat   centers, and others.

Hospitals & ASCs held the maximum share in the Mexico market in 2020. The dominance is due to the growing number of hospitals and surgical centers in the country and the conduction of the majority of the complex surgeries at these institutions.

Moreover, the increasing need for specialty care for traumas across the country for military personnel involved in combat actions is expected to contribute to the tactical combat casualty care centers' lucrative CAGR.

KEY INDUSTRY PLAYERS

Robust Efforts by Ethicon U.S., LLC., Baxter, and BD to Contribute Towards Their Dominance

The market in Mexico is semi-consolidated, with leading global players and some local key players contributing towards the market growth. The key established companies operating in the market are Baxter, BD, 3-D Matrix Medical Technology, and Ethicon U.S., LLC.

The factors responsible for their dominance are the presence of a diverse and robust product portfolio coupled with strategic partnerships and acquisitions. Other players operating in the market include CryoLife Inc., Cook, EndoClot Plus, Inc., and others.

LIST OF KEY COMPANIES PROFILED:

• 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.)

KEY INDUSTRY DEVELOPMENTS:

• October 2020 –Teleflex Incorporated acquired privately-held Z-Medica, LLC, a manufacturer of hemostatic products.


• December 2018 – Baxter announced the launch of the ‘Disposable Curved Applicator,’ which enhances the delivery experience of its Floseal Hemostatic Matrix.

REPORT COVERAGE

The research report provides a detailed analysis of the market. It focuses on key aspects such as leading companies, product, application, and end-use. Besides this, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market over recent years.

Report Scope & Segmentation