The fibrinogen concentrate market is expected to register a healthy CAGR during the forecast period. The major contributing factor for the growth of this market is the increasing prevalence of bleeding disorders and an increase in the number of approvals related to fibrinogen concentrate. According to the study of United Kingdom Doctor’s Hemophilia Association, in 2018, people with coagulation defects were around 11,089 in the United Kingdom. Furthermore, in 2016, LFB received its regulatory approval in Europe to market the product, FibClot. Hence, these factors are expected to fuel the demand for fibrinogen concentrate.
Key Market Trends
Congenital Fibrinogen Deficiency Segment is Expected to Register Significant Growth in the Fibrinogen Concentrate Market
- Congenital Fibrinogen Deficiency is expected to register a higher growth in the fibrinogen concentrate market owing to the higher prevalence of hemophilia and development in products related to fibrinogen. According to the National Hemophilia Foundation, currently, worldwide the prevalence of hemophilia is more than 400,000. Furthermore, approximately 75% of the affected population still do not receive proper treatment.
- According to the study published in the year 2019 by the Journal of Thrombosis and Haemostasis, Fibclot and Clottafact, a human fibrinogen concentrate was found to provide effective therapy for the patients with fibrinogen deficiency. Hence, the rising prevalence of bleeding disorders and the safety and efficacy of human fibrinogen concentrate is expected to propel the fibrinogen concentrate market growth in this segment.
North America is Expected to Hold a Significant Share in the Market and this is Expected Remain the Same in the Forecast Period
North America expected to hold a major market share in the global fibrinogen concentrate market due to the increasing burden of bleeding disorders and rising geriatric population. According to the U.S. Census Bureau, in 2018, people aged 65 and above were accounted to be approximately 52 million. Acquired hemophilia, a rare autoimmune disorder, is quite predominant in the geriatric population. According to the National Organization of Rare Disorders, at least 1-2 people per 1,000,000 are affected by the acquired hemophilia in the United States. Around 50% of the affected population the underlying disorders are difficult to identify. Also, according to the National Hemophilia Foundation, Von Willebrand Disease is one of the common bleeding disorders that affects around 1% of the population every year in the United States. Hence, such factors are affected to drive market growth in the North America region.
Competitive Landscape
Various companies are taking initiatives to improve their presence in the market. In 2019, Octapharma AG received approval for Fibryga, a fibrinogen concentrate, to be marketed in 15 European countries. Few of the companies that are currently dominating the market are LFB, Molecular Innovations Inc., Octapharma AG, CSL Behring, Shanghai RAAS, and Hualan Biological Engineering Inc.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
Table of Contents
Methodology
LOADING...
