High-Quality Safety Profile of Coagulation Factor XIII and Its Increasing Use in Hemophilia Treatment Is Expected To Favor Overall Market Development
United States, Rockville MD, Sept. 05, 2022 (GLOBE NEWSWIRE) -- At present, the global coagulation factor concentrates market enjoys a valuation of US$ 7.8 billion. This Fact.MR industry survey predicts the sales of coagulation factor concentrates to rise at a healthy CAGR of 7.8% from 2022 to 2027.
Growing prevalence of blood disorders and rising investments in healthcare R&D are expected to majorly favor coagulation factor concentrates market growth over the next five years. Government initiatives to boost awareness about blood disorders, rising adoption of prophylaxis treatment, and high incidence of hemophilia are other factors that will potentially propel coagulation factor concentrate sales through 2027.
However, lack of awareness about blood disorders in emerging and underdeveloped economies is expected to hurt market growth to some extent.
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Rising adoption of prophylaxis treatment, growing incidence of hemophilia in newborns, upsurge in demand for hemophilia treatment, and high investments in healthcare research and development are other factors that could potentially uplift coagulation factor concentrates market growth over the next five years.
However, the high costs of blood disorder treatments and lack of awareness of blood disorders in developing economies are anticipated to have a hindering effect on the overall coagulation factor concentrates market potential.
How Will the Coagulation Factor Concentrates Industry Fare Across Geographies?
“North America & Europe to Spearhead Global Coagulation Factor Concentrates Market Growth”
The North America coagulation factor concentrates market is projected to account for a prominent market share in the global industry landscape throughout the forecast period.
Rapid adoption of novel treatments, the presence of developed healthcare infrastructure, and increasing investments in the healthcare research and development sector are expected to prominently augment coagulation factor concentrate demand in this region through 2027. The market for coagulation factor concentrates in Canada is predicted to evolve at a CAGR of 6.4% over the next five years.
Investments to improve healthcare infrastructure and increasing supportive government initiatives to boost awareness of blood disorders are expected to favor coagulation factor concentrate sales in Europe over the coming years. Key countries that coagulation factor concentrate suppliers should keep an eye out for in this region are France, Italy, Germany, and the United Kingdom.
The Germany coagulation factor concentrates market is anticipated to exhibit expansion at a CAGR of around 4.5% through 2027.
The Asia Pacific coagulation factor concentrates market is anticipated to be driven by an increasing blood-related disorder-affected patient pool and rising investments in healthcare infrastructure development. India is anticipated to be one of the key markets for coagulation factor concentrates owing to the high prevalence of hemophilia in the country.
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Key Segments Covered in the Coagulation Factor Concentrates Industry Survey
By Type :
Coagulation Factor IX
Coagulation Factor XIII
By End User :
Hospitals & Clinics
By Region :
Coagulation factor concentrate providers are focusing on expanding their revenue generation capacity by getting new approval for their products from regulatory authorities.
In July 2022, Novo Nordisk, a Danish multinational pharmaceutical organization, announced that the United States Food and Drug Administration (FDA) had approved REBINYN®, Coagulation Factor IX, GlycoPEGylated for regular prophylaxis in adults and children. REBINYN is a recombinant DNA-derived coagulation factor IX concentrate.
Other recent developments by key companies such as Baxter International Inc., Octapharma, LFB, Biotest, Green Cross Corporation, Shanghai RAAS Blood Products, and Sanquin have also been listed in this new market study on the coagulation factor concentrates industry.
Coagulation factor concentrate manufacturing companies are projected to focus on expanding their research scope and on winning approvals for their products from regulatory authorities.
A detailed account of all the strategies adopted by major and minor market players has been listed in this new coagulation factor concentrates market survey by Fact.MR, a market research and competitive intelligence provider.
Get Customization on Coagulation Factor Concentrates Market Report for Specific Research Solutions
Key players in the Coagulation Factor Concentrates Market
Baxter International Inc.
Novo Nordisk A/S
Key Takeaways from Coagulation Factor Concentrates Market Study
The global coagulation factor concentrates market valuation is US$ 7.8 billion.
Demand for coagulation factor concentrates is projected to surge at a CAGR of 7.8% through 2027.
By 2027, the market is set to reach a size of US$ 11.4 billion.
Increasing healthcare expenditure, growing prevalence of hemophilia, rising investments in healthcare R&D, and supportive government initiatives to boost awareness about blood disorders are expected to favor market growth.
Currently, the U.S. coagulation factor concentrates market is valued at US$ 2 billion.
High costs of blood disorder treatment and stringent regulatory norms are expected to hinder market potential to some extent.
The China coagulation factor concentrates market is estimated to attain a valuation of US$ 2.5 billion by the end of 2027.
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