What are the latest figures on the recothrom market’s size and projected CAGR?
The recothrom market size has XX (HCAGR) in recent years. It will grow from $XX million in 2024 to $XX million in 2025 at a compound annual growth rate (CAGR) of XX%. The growth in the historic period can be attributed to demand for cost-effective and efficient treatment solutions, an increase in surgical procedures, government support for healthcare infrastructure, demand for multicomponent hemostatic products, and rising healthcare expenditure.
The recothrom market size is expected to see XX (FCAGR) in the next few years. It will grow to $XX million in 2029 at a compound annual growth rate (CAGR) of XX%. The growth in the forecast period can be attributed to rising incidences of trauma and accidental injuries, rising popularity of bioactive and biocompatible hemostats, growing adoption of thrombin in surgeries, rising awareness of surgical complications, and growing geriatric population. Major trends in the forecast period include advancements in wound care technology, technological advancements in hemostatic products, integration of thrombin in trauma and emergency care, integration of digital and smart technologies, and development of novel PCC formulations.
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Which Market drivers have played a significant role in driving the recothrom market?
The increase in surgical procedures is expected to propel the growth of the recothrom market going forward. A surgical procedure is a medical operation performed by a surgeon to treat or diagnose a health condition, often involving incisions, tissue removal or repair, or the use of instruments to correct bodily issues. The increase in surgical procedures is driven by the rising prevalence of chronic diseases, aging populations, and advancements in medical technology and minimally invasive techniques, which have improved patient outcomes and encouraged more surgeries. Recothrom helps control bleeding during surgical procedures by promoting clot formation and enhancing the natural blood coagulation process for faster hemostasis. For instance, in August 2024, according to the National Library of Medicine, a US-based biomedical library, in 2023, there was a 3.4% increase in the global volume of aesthetic procedures, with a total of 34.9 million surgical and nonsurgical procedures conducted by plastic surgeons. This included over 15.8 million surgical procedures and more than 19.1 million nonsurgical treatments performed worldwide. Therefore, the increase in surgical procedures is driving the growth of the recothrom market.
What are the key segments within the recothrom market?
The recothrom market covered in this report is segmented –
1) By Indication: Surgical Procedures; Trauma Management
2) By Formulation: Powder Form; Solution Form
3) By Distribution Channel: Direct Sales; Distributors; Online Sales
4) By End User: Hospitals; Ambulatory Surgical Centers; Tactical Combat Casualty Care
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Which key players are shaping the recothrom market?
Major companies operating in the recothrom market are Baxter International Inc.
Which transformative trends will shape the recothrom market landscape?
The key trend in the recothrom market is centered on developing innovative products such as flowable hemostats to improve surgical outcomes and enhance patient safety. Flowable hemostats are medical devices or substances designed to control bleeding during surgery or trauma. These hemostats are especially beneficial in areas where traditional methods may be challenging or ineffective. For instance, in April 2023, Baxter International Inc., a US-based healthcare company, launched Floseal + Recothrom, a flowable hemostat designed to improve hemostasis during surgical procedures. This innovative product combines a flowable gel with recombinant thrombin, utilizing recombinant deoxyribonucleic acid (DNA) technology for its thrombin component. This advancement eliminates the need for human blood donations, significantly enhancing safety. Additionally, it offers a preparation time that is over 1.5 times faster than traditional hemostatic agents, greatly improving efficiency in surgical settings.
How do regional factors impact the recothrom market, and which region is the largest contributor?
North America was the largest region in the recothrom market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the recothrom market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Recothrom Market Report 2025 Offer?
The recothrom market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Recothrom is a recombinant thrombin product used in surgeries to control bleeding by promoting clot formation. It is a topical hemostat that works by promoting clot formation, helping to stop bleeding in a localized area. Recothrom is commonly used in surgeries where bleeding may occur, such as in vascular, liver, or orthopedic procedures.
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