Fibrinogen Concentrates Market Size, Trends, Company Profiles, Growth Rate, Revenue, Impact on Global Industry of COVID-19, Demand, and Forecast 2021-2031

Challenges in Managing Thromboembolic Events Linked with COVID-19 Fuel Demand for Treatment
The coronavirus disease (COVID-19) is linked with extreme inflammatory response, disordered hemostasis, and high thrombotic risk. Such findings are creating business opportunities for manufacturers in the fibrinogen concentrates market. A high incidence of thromboembolic events has been reported despite thromboprophylaxis, which is raising the question of more effective anticoagulation strategies. Thus, stakeholders in the fibrinogen concentrates market are capitalizing on this opportunity to increase the availability of treatment and products.

First-line hemostasis tests such as activated partial thromboplastin time and prothrombin time, among others, are vulnerable to many drawbacks, thus affecting their reliability and clinical relevance. This is triggering the demand for specialized hemostasis-related tests that may help to assess the thrombotic risk associated with COVID-19. Moreover, hemostasis laboratories are facing challenges in the monitoring of heparin treatment. Thus, to overcome this vulnerability of laboratories, companies are ensuring robust supply of treatment and products.

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Rarity of Patient Population Creates Hurdles in Conducting Research Studies
The fibrinogen concentrates market is projected to expand at a favorable CAGR of ~6% during the forecast period. However, it is challenging to evaluate the efficacy of human fibrinogen concentrate (FCH) in patients with congenital fibrinogen deficiency (CFD) due to the rarity of patient population. Hence, stakeholders are expected to collaborate with researchers to conduct observational retrospective study with an additional prospective component to assess the efficacy of human fibrinogen concentrate for the treatment of acute bleeding events.

It has been found that FCH is well tolerated in patients with CFD and is effective in treating bleeding events. FCH is found to be effective and has a favorable safety profile when used as treatment for both on-demand bleeding and surgical prophylaxis in patients with afibrinogenemia.

General Coagulation Management Applications Generate Stable Revenue Streams for Stakeholders
The fibrinogen concentrates market is expected to reach a valuation of US$ 700 Mn by 2031. The concept of targeted point-of-care bleeding management is becoming a fast growing phenomenon in the market landscape. Emerging studies are making use of fibrinogen, also known as factor I, in lieu of whole blood to facilitate clotting. Fibrinogen concentrates are being highly publicized for the management of bleeding events, since it allows the administration of a precise dose to reach a desired target level.

Manufacturers in the fibrinogen concentrates market are making products and treatments easily available for hospitals, ambulatory surgical centers, and other healthcare systems. General coagulation management applications are expected to register the highest revenue share among all application types.

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Early Coagulation Therapy Holds Promising Potentials to Improve Survival Rate of Patients
The early fibrinogen concentrate administration is being preferred in complex and time-sensitive environment of pre-hospital trauma care. This helps to protect against early fibrinogen depletion, promotes rapid blood clot initiation, and clot stability. Such trends are translating into value-grab opportunities for stakeholders in the fibrinogen concentrates market.

The presence of trauma-induced coagulopathy (TIC) in severely injured and bleeding patients on admission to the emergency department (ED) is leading to increased mortality rates. In order to lower mortality rates, companies are bolstering their production capabilities to ensure the readily available treatments and products. Early and effective coagulation therapy holds promising potentials to improve survival in patients. As such, manufacturers in the fibrinogen concentrates market are gaining evidence that supports early fibrinogen supplementation in trauma patients. There is a growing demand for fibrinogen concentrate products in highly dynamic and complex environment of acute pre-hospital trauma care.

Fibrinogen Concentrate Help Decrease Bleeding Tendency, Reduce Transfusion Requirements
A significant number of deaths attributable to hemorrhage occur within the first hour of hospital arrival. This is emerging as a key driver of growth in the fibrinogen concentrates market. There is an increased emphasis on hemostatic resuscitation in pre-hospital settings and battlefield. The concept of remote damage control resuscitation (RDCR) is growing popular in the fibrinogen concentrates market, which imposes logistic challenges and requirement for hemostatic products that can be easily stored, transported, and used in the field austere environment. Thus, manufacturers are tapping into revenue opportunities in such innovative and lesser-known applications.

There is evidence that shows fibrinogen concentrate has the capability to reduce transfusions of blood products and increase survival rates of patients after severe trauma. Stakeholders are anticipated to collaborate with researchers to gain evidence via randomized controlled trials to assess how fibrinogen concentrate help to decrease bleeding tendency and reduce transfusion requirements.

Generation of Strong Data Boosts Application of Fibrinogen Concentrates for TIC
Since trauma is the leading cause of mortality with major bleeding and trauma-induced coagulopathy (TIC), fibrinogen concentrate is being publicized as the first line of treatment for TIC. Contributing factors such as initiatives to improve TIC management, generation of stronger data, and improved medical education are of paramount importance to increase better patient outcomes. Simplified practice guidance and improved access to viscoelectic testing are forming critical factors for growth of the fibrinogen concentrates market.

TIC requires different treatment strategies, which include tranexamic acid (TXA), human fibrinogen concentrate, and prothrombin complex concentrates (PCCs), among others. Manufacturers in the fibrinogen concentrates market are gaining awareness about such patient demands and requirements from healthcare systems.

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Education, Network Building Significant for Improvement in Blood Products
Canadian Blood Services - a provider of lifesaving products and services in transfusion and transplantation for patients is gaining recognition for continuously improving blood products and their utilization, which results in improvement of patient quality of life. Stakeholders in the fibrinogen concentrates market are taking cues from such developments to build their network of scientists, medical experts, collaborators, and research partners to improve blood products.

Guided clinical practices are supporting national studies, which suggest that fibrinogen concentrate is equivalent to cryoprecipitate in controlled post-operative bleeding. Such insights are impacting the way cardiac patients can be treated in various healthcare facilities. Stakeholders are realizing the importance of R&D, training, education, and engagement activities that play a key role in improving blood products. On the other hand, fibrinogen concentrate is being preferred over fresh frozen plasma (FFP), since the former delivers a standardized and higher concentration of coagulation proteins.

Fibrinogen Concentrates Market: Overview
Fibrinogen is a soluble protein, also known as coagulation factor I in the plasma that is broken down to fibrin by the enzyme thrombin to form clots
Human fibrinogen concentrates have been used for substitution therapy in cases of hypofibrinogenemia, dysfibrinogenemia, and afibrinogenemia. Commercially available human fibrinogen concentrate is virus-inactivated. Hence, it plays a critical role in hemostasis, especially in bleeding patients with an acquired fibrinogen deficiency.
Rise in demand for fibrinogen among physicians as blood clot formation agents, increase in the number of cases of bleeding disorders, and surge in the availability of fibrinogen products are key factors projected to drive the global fibrinogen concentrates market during the forecast period. Furthermore, increase in investment in research & development (R&D) and large number of products under pipeline offer significant opportunities in the market.
In November 2018, Octapharma received marketing authorization from the Swiss Agency for therapeutic products for fibryga, a lyophilized fibrinogen concentrate for intravenous infusion indicated for the treatment of congenital and acquired fibrinogen deficiencies

Market Segmentation: Fibrinogen Concentrates Market
In terms of application, the global fibrinogen concentrates market has been classified into general coagulation management, surgery, and others
Based on end user, the global fibrinogen concentrates market has been divided into hospitals, ASCs, and others
Each of the segments has been analyzed in detail for trends, recent trends & developments, drivers, restraints, opportunities, and useful insights. The fibrinogen concentrates market report provides current and future revenue (US$ Mn) for each of these segments for the period from 2017 to 2031, considering 2020 as the base year. The compound annual growth rate (% CAGR) has been provided for each segment and market from 2021 to 2031, along with market size estimations.

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Regional Overview: Fibrinogen Concentrates Market
In terms of region, the global fibrinogen concentrates market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions have been divided into major countries and sub-regions.
Europe held a significant share of the global fibrinogen concentrates market in 2020, followed by North America. Europe is likely to retain market share during the forecast period. High awareness about the availability of different brands of fibrinogen concentrate products and early introduction of fibrinogen concentrates drive the market in the region.
Asia Pacific is likely to gain market share during the forecast period. Product launches, acquisitions, distribution agreements, alliances, and geographical expansion by players, especially in China and Japan, are projected to propel the fibrinogen concentrates market in the region.
Current and future market sizes in terms of value (US$ Mn) of these regional markets and major countries have been provided in the fibrinogen concentrates market report for the period from 2017 to 2031, along with their CAGRs for the period from 2021 to 2031
The study also offers a list of recommendations, highlights, and useful insights of the market, which are likely to help new companies willing to enter the fibrinogen concentrates market and existing companies to increase market share and in the decision-making process

Major Players: Fibrinogen Concentrates Market
The report concludes with the company profiles section that includes key information about the major players in the global fibrinogen concentrates market
Leading players analyzed in the fibrinogen concentrates market report are
LFB GROUP
Green Cross Corp.
Octapharma AG
CSL Behring
Shanghai RAAS
Each of these players has been profiled in the fibrinogen concentrates market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments

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