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Key highlights of the report include:
Market Overview (2017-2027)
- Historical market size (2021): USD 578.5 million
- Forecast CAGR (2022-2027): 4.22%
- Forecasted Market Size (2027): USD 741.3 Million
The increasing incidence of hemorrhage and hemophilia in several countries around the world is driving the growth of the thrombin industry. The United States Centers for Disease Control and Prevention revealed that hemophilia A affects 1 in 5,000 male births and 70% of them are treated in hemophilia treatment centers. The increase in surgeries being carried out due to the increase in purchasing power also leads to the steady growth of the thrombin industry. Indeed, thrombin plays a vital role in natural healing after surgery. The developing healthcare infrastructure and increasing use of thrombin in hospitals are among the factors fueling the growth of the thrombin industry. Furthermore, the launch of effective thrombin products with optimum performance that can be administered to versatile patients owing to the growing research in this field is likely to catalyze the thrombin industry over the forecast period.
Industry definition and major segments
Thrombin is a natural molecule that acts both as a procoagulant and an anticoagulant. Thrombin is produced from its precursor, prothrombin, in the blood clotting pathway. It directly converts soluble fibrinogen into insoluble fibrin and promotes platelet activation, thereby facilitating blood clotting. It also speeds up various other reactions related to coagulation.
The Thrombin industry, by product, is categorized into:
- Bovine thrombin
- human thrombin
- Recombinant thrombin
Based on Dosage Form, the market is split into:
- powder form
- Solution form
On the basis of end-user, the market is split into:
- Diagnostic center and clinics
- Academics and research institutes
Regional thrombin markets include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Approval from government organizations for the use of thrombin to control and minimize blood loss during surgical procedures leads to the progressive development of the industry. For example: The Federal Drug Administration has approved the use of three thrombin products – recombinant thrombin, human thrombin and bovine thrombin for hemostasis and control of minor bleeding. In addition, mergers and acquisitions carried out by healthcare companies to expand their product portfolio are also fueling the growth of the market. In 2018, Baxter International, Inc. acquired RECOTHROM, manufactured using recombinant technology that provides hospitals with an innovative solution to reduce intraoperative bleeding. In addition, investments in research and development activities in the use of thrombin by numerous biotechnology companies are also expected to boost the thrombin industry during the forecast period.
Main market players
The major market players are Pfizer Inc., Johnson and Johnson Services Inc., Baxter International, Inc., Shanghai RAAS Blood Products Co., Ltd., Japan Blood Products Organization, and Mochida Pharmaceutical Co., Ltd, among others.
The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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