Global Prothrombin Complex Concentrates Market is expected to be valued at US$ 772.0 million in 2023 and to reach a valuation of US$ 1.2 billion by 2033. The demand for prothrombin complex concentrates is estimated to grow at a steady 4.1% CAGR, with the U.K., the U.S., China, and India emerging as key producers.
The adoption of prothrombin complex concentrates is likely to go up when products that block Vitamin K are released, especially warfarin. Warfarin is often used as an anticoagulant, which means that more and more prescriptions for warfarin are being written. The National Action Plan for Drug Event Presentation says that more than 30 million prescriptions for warfarin are written every year. But this medicine can cause bad side effects that need to be fixed quickly. Prothrombin complex concentrate is the best treatment for these problems because it works quickly and doesn’t spread viruses. So, it is expected that more prescriptions of warfarin will help the prothrombin complex concentrates market to grow over the next few years.
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Also, positive government guidelines and recommendations for using factor IX complex during urgent warfarin reversal are expected to help the market.
Advantages of prothrombin complex concentrates over other therapies that reverse blood clotting to help the market grow
Compared to other options for reversing anticoagulation, such as FFP (Fresh Frozen Plasma), Vitamin K1, and others, they have more benefits, which is why they are used so often for urgent warfarin-reversals. One of the best things about prothrombin complex concentrates is that it doesn’t require matching blood and thawing it like FFP does. This cuts down on the time it takes to give the medicine. It also has a shorter penetration time, works better, and needs to be used in less volume. Also, there isn’t much chance that it will spread viruses or diseases. Because of all these benefits, the product is becoming more and more popular, which is likely to help the market grow.
Key Takeaways
- The global prothrombin complex concentrates market is expected to grow significantly due to an increase in the prevalence of bleeding disorders and a rise in the number of surgical procedures.
- North America is the largest prothrombin complex concentrates market due to the high prevalence of bleeding disorders and favorable government regulations.
- There is a growing focus on patient safety, with many companies aiming to create safer and more efficient prothrombin complex concentrates
- Personalized medicine is a growing trend in the prothrombin complex concentrates market, with companies developing tailored products to address individual patient needs.
- The emergence of novel delivery methods, such as subcutaneous and intranasal delivery systems, is offering increased convenience to patients.
- The market is highly competitive, with key players investing in R&D and strategic partnerships to gain a competitive edge.
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Competitive Landscape
The prothrombin complex concentrates market is a segment within the broader pharmaceutical industry that specializes in developing and manufacturing blood clotting factors for patients with coagulation disorders.
One of the significant trends in the market is industry consolidation, with a few large pharmaceutical companies dominating the market. Companies like CSL Behring, Octapharma, Grifols, and Kedrion Biopharma account for a significant share of the global prothrombin complex concentrates market. These companies have extensive research and development capabilities, well-established supply chains, and significant financial resources, giving them a competitive advantage over smaller players.
However, the market also has a thriving startup ecosystem, with a growing number of innovative companies developing novel prothrombin complex concentrates products and technologies. These startups are leveraging advances in biotechnology, such as recombinant DNA technology and gene editing, to develop safer and more effective prothrombin complex concentrates products. Some of the notable startups in the market include Prothex, ProPharma Group, and Green Cross.
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Regulatory barriers also play a significant role in shaping the competitive landscape of the prothrombin complex concentrates market. The development and approval process for prothrombin complex concentrates products are highly regulated, requiring extensive clinical trials and rigorous safety and efficacy testing. This regulatory burden can be a significant barrier to entry for smaller companies, limiting the number of players in the market.
Key Players:
- Shire,
- Octapharma AG,
- CSL Behring GmbH
Key Segments
Distribution Channel:
- Compound Pharmacies
- Retail Pharmacies
- Hospital Pharmacies
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