Thrombin Market to Grow at a CAGR of 4.7% Over the Forecast Period; Growing Focus on Introducing Innovative Formulations for Thrombin Delivery Propels Market Expansion

The global thrombin market size was USD 688.4 million in 2024. The market is projected to grow from USD 713.4 million in 2025 to USD 983.3 million in 2032 at a CAGR of 4.7% during the forecast period.

Fortune Business Insights™ presents this information in its report titled, “Thrombin Market Size, Share & Industry Analysis, By Product Type (Bovine Thrombin, Human Thrombin, and Recombinant Thrombin), By Dosage Form (Powder Form and Solution Form), By End User (Hospitals & ASCs, Specialty Clinics, and Others), and Regional Forecast, 2025-2032”. 

Thrombin is crucial in the coagulation cascade as it enables the transformation of fibrinogen to fibrin, which is significant for the formation of blood clots. Its applications range from surgical settings (to control bleeding and in trauma care), surgical procedures, and research to hemostasis. Hence, with the rise in trauma and complex surgery cases, the demand for this product is increasing, contributing to market growth. The market is also driven by ongoing innovations in medical technology to improve patient safety, with the help of nanotechnology formulations eliminating the risk of bleeding defects.

The COVID-19 pandemic hampered the market growth, driven by decreased patient visits, resulting in fewer surgeries. Additionally, disruption in the manufacturing and supply chain of the product contributed to this challenge.

Key Industry Players Focus on Acquisitions to Enhance their Product Offerings

In March 2025, Shanghai RAAs Blood Products acquired Nanyue Biopharmaceutical with an evaluation of USD 584.2 million. The company’s product portfolio includes immunoglobin, human albumin, and coagulation factors such as fibrinogen and thrombin. This acquisition enhanced the company's supply chain and improved competence in operations.

Growing Prevalence of Bleeding Disorders to Augment Market Growth

The growing occurrence of different bleeding disorders such as Von Willebrand diseases and hemophilia has contributed to the thrombin market growth as it is used as a therapy during surgeries. Moreover, thrombin-specific therapeutics are intended to correct its deficiencies and avoid bleeding in patients with hemophilia and other bleeding disorders. For example, in October 2024, the World Federation of Hemophilia introduced its annual global survey 2023, which included 119 nations. This report identified around 390,630 patients with bleeding disorders across the globe. Additionally, the increasing research initiatives drive the demand for thrombin to cure diseases, including blood disorders.

Conversely, the adverse drug impact concerned with thrombin from various sources hinders the market growth.

Top Players Emphasize Expanding their Capabilities to Strengthen Their Market Presence

The global market is semi-fragmented, with key players including Johnson & Johnson Services Inc., Baxter, Pfizer Inc., and Grifols, S.A. accounting for a substantial share. These players focus on key strategies such as expansion of manufacturing capabilities, acquisitions, and collaborations to gain a competitive advantage and strengthen their position in the market.

Notable Industry Development

• July 2020: Grifols, S.A. acquired a Green Cross plasma fractionation facility in Montreal and a plasma collection firm in the U.S. The company made a significant investment of around USD 460.0 million, growing its fractionation volume to 1.5 million liters per year.

List of the Companies Profiled in the Report

• Pfizer Inc. (U.S.)
• Johnson & Johnson Services, Inc. (U.S.)
• Grifols, S.A. (Spain)
• Baxter (U.S.)
• Mochida Pharmaceutical Co., Ltd. (Japan)
• Shanghai RAAS Blood Products Co., Ltd. (China)
• BIOFAC A/S (Denmark)
• Merck KGaA (Germany)
• Valiant Co., LTD. (MP Biomedicals) (China)

To get a detailed report summary and research scope of this market, click here

https://www.fortunebusinessinsights.com/industry-reports/thrombin-market-100170

Further Report Findings

• North America held the highest thrombin market share, attributed to the rising advancements in biotechnology to produce recombinant alternatives with advanced facilities and treatments for chronic diseases.
• Market growth in Europe is driven by the growing number of slightly invasive surgeries and the surging instances of inherited blood disorders.
• Market expansion in Asia Pacific is propelled by an increasing aging population, a number of chronic diseases, and lifestyle modifications.
• In terms of product type, the recombinant segment led the market in 2024 due to rising disturbances in the supply chain of human-derived products due to blood shortages. Additionally, issues related to transfusion and contamination diseases also fuel the demand for the product.

Table of Segmentatio