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Thrombin Market to Reach US$690.1 mn by 2025

08-20-2018 05:24 PM CET | Health & Medicine

Press release from: Transparency Market Research

Global Thrombin Market: Snapshot

Thrombin is serine protease blood plasma protein which converts fibrinogen into soluble fibrin to catalyze blood coagulation process. Globally commercially available therapeutic thrombin products are derived from bovine source, human plasma and genetic recombination (recombinant). Thrombin JMI, Evithrom, Recothrom, Thrombin Mochida, etc. are few approved hemostatic products in the USA and Japan. Thrombin is used in several medical surgeries in management of uncontrolled bleeding.

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Thrombin is also used in diagnostic centers and clinics in various applications such as clotting factor tests, coagulation assays, and defibrination of blood or plasma. R&D applications of thrombin includes in several research activities such as in vitro study, coagulation research, protein-structure analysis, medical research and biochemical research.

Bovine thrombin is referred as thrombin fractionated from bovine blood. Thrombostat was the first bovine blood-based thrombin product approved by the U.S. FDA in 1943. Currently, there are few bovine thrombin brands available in market such as Thrombin JMI, Thrombi-Pad, and BioTrombina. Generally, bovine-based thrombin products have a black box warning due to the risk of abnormal hemostasis.

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Demand for Bovine Thrombin to Rise at Considerably High Pace

Among the key product types, the bovine thrombin segment recorded surging demand and emerged as a key revenue contributor to the global thrombin market in 2016. TMR expects the global thrombin market to set sail on a growth path in response to the rising availability of bovine-based hemostatic brands such as Thrombin JMI. Besides this, the market will benefit from the rising adoption of bovine-based products in various research and diagnostic applications. Experts have also observed a spike in the recombinant thrombin uptake, which is attributed to lesser post-operative complications and safer hemostatic se in comparison to human and bovine thrombin.

In terms of end user, the hospital segment held the dominant share of 56.2% in the global market in 2016. The rising hemostatic use of thrombin-based products during surgeries has fuelled the demand for thrombin in the hospitals segment. In addition, the market is likely to witness lucrative growth prospects in the diagnostic centers and clinics segment, which held a considerable share in the global market in 2016.

North America and Asia Pacific Emerge as Lucrative Markets for Thrombin

Geographically, thrombin market has been segmented into major four regions: North America, Europe, Asia Pacific, and Rest of World. In 2016, North America and Asia Pacific accounted for the largest share of the thrombin market followed by Europe. The United States held a significant share of the thrombin market in North America, accounting for 94.2% share in 2016.

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Japan dominated the market in Asia Pacific in 2016 due to adoption of new thrombin therapies led by high awareness, significant health care spending in overall national budgets, early availability of advanced technologies, and extensive research activities in these countries. However, Europe is growing steadily while Asia Pacific is anticipated to grow faster during the forecast period due to major contribution from countries like Japan, India and China.

The global thrombin market is fragmented in nature with a dispersed presence of few players in various countries. Market players with high revenue base such as Pfizer Inc., Johnson & Johnson Services Inc., and Mallinckrodt Pharmaceuticals dominate the global thrombin market. Shanghai RAAS blood products co., Ltd., Japan Blood Products Organization, and Mochida Pharmaceutical Co., Ltd. are few key players operating in Asia Pacific region.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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