The CXOs further added that according to WHO estimates (2019), approximately 235 million surgical procedures are undertaken worldwide every year, which fuels the market growth. In addition, rise in number of product approvals propels the market growth. For instance, in 2020, Baxter received an FDA approval for PeriStrips Dry with Veritas Collagen Matrix product with Secure Grip. This product helps in mitigating bleeding during bariatric surgeries. However, Asia-Pacific registering the fastest growth rate during the forecast period, according to article published in January 2020, China announced to invest $4.6 billion for construction of hospitals in Wuhan. Therefore, significant growth in number of hospitals and surgical centers is expected to support the growth of the hemostats market.