January 31, 2022
According to the recent research report titled ‘Global Fibrinogen Concentrate Market by indication (Congenital Fibrinogen Deficiency and Surgical Procedure), Regional Forecasts 2021-2027’, available with MarketStudyReport, global fibrinogen concentrate market size is expected to multiply with a CAGR of 5.8% over 2021-2027.
Rising prevalence of bleeding diseases and increasing number of fibrinogens concentrate approvals are the key factors driving global fibrinogen concentrate market growth, cites the study.
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For those unfamiliar, fibrinogen, a glycoprotein found in vertebrate blood plasma and produced by the liver, aids in the formation of blood clots. Blood clots can also form inside blood arteries due to a low quantity of fibrinogen, producing thrombosis, which impairs normal blood flow through the circulatory system.
It is also used in the production of blood-related drugs. Thrombosis is a rare bleeding disorder that can range from mild to severe in severity. The three types of fibrinogen deficits are hypofibrinogenemia, afibrinogenemia, and dysfibrinogenemia.
Despite the positive outlook, strict regulatory framework is likely to hamper the remuneration scope of the industry over the study period.
Elaborating on regional landscape, Europe held a major portion of global fibrinogen concentrates market share in 2020, followed by North America.
Europe is expected to maintain its market share during the projection period, owing to availability of various brands of fibrinogen concentrate products, early launch of fibrinogen concentrates, and high number of patients in the region. In fact, as per a study undertaken by the United Kingdom Doctor's Hemophilia Association, approximately 11,089 individuals with coagulation disorders were found in the country in 2018.
On the other hand, Asia Pacific industry is predicted to witness robust growth during the forecast period, driven by product launches, acquisitions, distribution agreements, partnerships, and regional growth by firms, particularly in China and Japan.
Moving on to competitive sphere, prominent organizations impacting worldwide fibrinogen concentrates industry dynamics are Jiangxi Boya Bio-Pharmaceutical Group Co. Ltd., Green Cross International, Harbin Pacific Biopharmaceutical Co. Ltd., Hualan Biological Engineering Inc., Shanghai RAAS, Baxter International Inc., Shanghai Xinxing Medicine Co. Ltd., ProFibrix B.V., CSL Behring, and LFB Group.