"We Envision Growth Strategies Most Suited
to Your Business"

Thrombin Market to Reach US$ 738.7 Mn, Pfizer Expected to Remain a Dominant Player Forecast 2026

April 30, 2019 | Healthcare

The Global Thrombin Market was valued at US$ 535.0 Mn in 2018. Recent clinical advancements made by thrombin has encouraged Fortune Business Insights towards predicting a global market value of US$ 738.7 Mn by the end of 2026 in its report, titled, “Thrombin: Global Market Analysis, Insights and Forecast, 2019-2026.” According to the Journal of Emergency Medical Services (JEMS), every year, an estimated 5.0 million people succumb to traumatic and non-traumatic hemorrhage, worldwide. A high fatality rate has led to the increased demand for thrombin, as it is used in treating hemorrhages. Thrombin plays a major role in hemostasis and it helps in activating cellular factors in platelets which enhances the process of hemostasis. Thus, thrombin is widely used in the healthcare industry, due to its high operational efficacy.

Pfizer Expected to Remain Dominant through Forecast Period

Among the various companies that are operating in the global thrombin market, Pfizer emerged as the leading player. As of 2018, Pfizer accounted for the highest market share in the global market. Pfizer is engaged in manufacturing Thrombin JMI, which is used as thrombin based hemostats. Backed by a strong market portfolio and an increased penetration in North America, Pfizer is likely to dominate throughout the forecast period.

As per the report, Pfizer will account for more than half of the total market value in the forecast period. Besides Pfizer, Baxter has also made a significant contribution to the overall market. In Mar 2018, Baxter completed the acquisition of hemostatic portfolio from Mallinckrodt Pharmaceuticals that take account of Recothrom. Recothrom is the only commercial recombinant thrombin brand available in the market. Some other companies operating in this market are Johnson & Johnson Services Inc., Shanghai RAAS blood products co. Ltd., Japan Blood Products Organization, and Mochida Pharmaceutical Co., Ltd. 

Bovine Thrombin to Emerge as the Most Attractive Product Type 

Increasing prevalence of inherited blood clotting disorder is spurring the incidence of thrombosis. This in turn has led to a subsequent demand for thrombin during forecast period. Besides this, factors such as high prevalence of obesity and increased adoption of unhealthy habits such as smoking has led to a further rise in demand for thrombin. The primary focus of all leading players in the market is to offer therapeutic thrombin products at minimal costs, most preferably bovine sourced thrombin products. Bovine thrombin segment accounted for a market share of 51.8% in 2018. High share of the segment is attributed to greater adoption of bovine sourced thrombin products in several applications such as therapeutic, diagnostics, and academic research. 

North America and Asia Pacific to Emerge as the Leading Regions 

The thrombin market in North America was valued at US$ 307.9 Mn in 2018, and is anticipated to emerge dominant during the forecast period. Growth witnessed in the region is likely to be driven by presence of major players such as Pfizer and Ethicon. Moreover, aging population, rising healthcare expenditures, increasing emphasis on better patient outcomes, and lucrative reimbursement policies are driving the thrombin market in North America region. Additionally, Asia Pacific also holds huge potential for growth, owing to increase in adoption of thrombin based hemostats in countries such as Japan and China. 

Browse Complete Report Details @ https://www.fortunebusinessinsights.com/industry-reports/thrombin-market-100170

The global thrombin market is segmented based on: 

 SEGMENTATION

 DETAILS

By Product

·      Bovine Thrombin

·      Human Thrombin

·      Recombinant Thrombin

By Dosage Form

·      Powder Form

·      Solution Form

By End user

 

·      Hospitals

·      Diagnostics Centers & Clinics

·      Academics and Research Institutes

By Geography

·      North America (USA and Canada)

·      Europe (UK, Germany, France, Italy, Spain, and Rest of Europe)

·      Asia Pacific (Japan, China, Australia, and Rest of Asia Pacific)

·      Rest of the World

 

 

Thrombin Market
  • PDF
  • 2018
  • 2015-2017
  • 135

    CHOOSE LICENSE TYPE

  • 4850
    5850
    6850

Our Clients

Ntt
Bosch
Siemens
Samyang
Lek
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X