Human Fibrinogen Concentrate Market Revolutionary Trends in Industry Growth Statistics By 2028

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The global fibrinogen concentrate market size is expected to reach USD 4.19 Billion by 2028 at a CAGR of 6.1%, according to the latest report by Reports and Data

The global Human Fibrinogen Concentrate market size is expected to reach USD 4.19 Billion by 2028 at a CAGR of 6.1%, according to the latest report by Reports and Data. Increasing RD activities to develop new therapies for bleeding disorders, rising demand for Human Fibrinogen Concentrates to treat congenital deficiencies, and high incidence of bleeding disorders across the globe are key factors expected to drive market revenue growth over the forecast period. In addition, increasing number of advanced and innovative in pipeline to treat bleeding disorders is also expected to contribute to revenue growth of the market going ahead.

Human Fibrinogen Concentrate is a lyophilized and purified human plasma fibrinogen and is widely used as an alternative to traditional sources of fibrinogen, which is a natural blood protein playing a vital role in coagulation process. Human Fibrinogen Concentrate has been extensively used and recommended for bleeding disorders and acquired coagulation disorders in several countries across the globe as it significantly improves blood clot firmness and minimizes the need for postoperative transfusion. Human Fibrinogen Concentrate can either be plasma-derived or a recombinant and is often used for afibrinogenemia and dysfibrinogenemia. Increasing research is being carried out across the globe to expand its application scope to use it for conditions such as hemorrhage resuscitation. This is expected to contribute to revenue growth of the market going ahead.

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New product launches and approvals of Human Fibrinogen Concentrates are also expected to be a key factor driving market growth. In addition, increasing focus of key players on developing advanced Human Fibrinogen Concentrates to treat bleeding disorders is also a key market growth driving factor. However, adverse reactions associated with Human Fibrinogen Concentrate such as arterial thrombosis, dyspnea, nausea, and others are expected to hamper market growth to a certain extent over the forecast period.

  Some Key Highlights from the Report:

  • Human fibrinogen type segment is expected to account for largest revenue share in the global market over the forecast period owing to increasing need for Human Fibrinogen Concentrate to treat bleeding disorders and congenital coagulation deficiencies.
  • Congenital fibrinogen deficiency segment is expected to register robust revenue CAGR over the forecast period owing to high incidence of hemophilia, rising rate of bleeding disorders, proven safety and efficiency of Human Fibrinogen Concentrates and rapid advancements in fibrinogen products.
  • North America is expected to dominate other regional markets over the forecast period owing to increasing geriatric population and high rate of bleeding disorders, advancements in diagnostics and therapeutics, and robust presence of key players in the region.
  • In November 2019, Octapharma AG announced approval for use of fibryga, which is a lyophilised human Human Fibrinogen Concentrate for intravenous infusion, in treatment of acquired fibrinogen deficiency in 15 European countries.

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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.

The growing popularity of over-the-counter medications driving market growth

Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.

Restriction on product launches and RD activities to hamper the market growth

The imposition of strict government regulations and shortage of funds has put a halt on product launches and RD activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.

  Competitive Landscape:

The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as RD investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.

Top Companies Profiled in the Report:

CSL Behring, Baxter, Johnson Johnson (Ethicon), LFB Group, ProFibrix BV (The Medicines Company), Shanghai RAAS, Jiangxi Boya Bio-Pharmaceutical, Hualan Biological Engineering, Harbin Pacific Biopharmaceutical, and Greencross.

  Human Fibrinogen Concentrate Market Segmentation:

Type Outlook (Revenue, USD Billion; Volume in Tons, 2018–2028)

  • Human
  • Animal

Application Type Outlook (Revenue, USD Billion; Volume in Tons, 2018–2028)

  • Congenital Fibrinogen Deficiency
  • Surgical Procedures

Regional Outlook:

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East Africa)

  Frequently asked questions addressed in the report:

  • What is the revenue growth rate of the global Human Fibrinogen Concentrate market over the forecast period?
  • What are the major factors driving the growth of the Global Human Fibrinogen Concentrate Market?
  • What are the key challenges impacting the global Human Fibrinogen Concentrate market growth?
  • What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?

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