Elevating Hemostasis: Prothrombin Complex Concentrates Market Poised to Achieve a Valuation of $1.2 Billion by 2033

Demand for prothrombin complex concentrates market is expected to reach US$ 772.0 million in 2023 and US$ 1.2 billion in 2033. As the market for prothrombin complex concentrates is expected to grow at a steady CAGR of 4.1%, the United Kingdom, the United States, China, and India are expected to emerge as major producers.

The global Prothrombin Complex Concentrates market is expected to grow rapidly over the next decade, reaching a value of US$ 1.2 billion by 2033. According to market analysts, the market will be worth US$ 772.0 million in 2023, indicating a steady rise.

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Prothrombin Complex Concentrates (PCC) are critical therapeutic agents used to treat bleeding disorders, primarily in patients with deficiencies in clotting factors. They play a vital role in managing hemorrhages caused by congenital coagulation factor deficiencies, liver diseases, and vitamin K antagonists. The increasing prevalence of bleeding disorders, coupled with rising surgical procedures and trauma cases, is driving the demand for PCC.

Key factors contributing to the anticipated growth of the Prothrombin Complex Concentrates market include advancements in the healthcare infrastructure, a rise in awareness about bleeding disorders, and the development of innovative PCC formulations. Additionally, a growing geriatric population and the increasing incidence of hemophilia and other clotting disorders are expected to fuel market expansion.

A new study by the company titled 'Prothrombin Complex Concentrates Market: Global Industry Analysis 2013 to 2017 and Opportunity Assessment 2018 to 2028', has listed out the key points being considered by the companies operating in the prothrombin complex concentrates market to emerge and stay sustainably profitable in the long run. The North America prothrombin complex concentrates market is projected to expand at a CAGR of 3.5% over the forecast period. North America and Western Europe are expected to be dominant markets for prothrombin complex concentrates, as most of the manufacturing facilities of prothrombin complex concentrates are located in these regions. However, the increasing demand for optimized & sustainable healthcare in countries of Asia Pacific, such as China and India, and of Middle-East is expected to fuel the growth of the prothrombin complex concentrates market.

The report finds the players operating in the market are laying emphasis on improving treatment options for patients with hemophilia B.
Treatment with prothrombin complex concentrates is an economical option for warfarin reversal. It is has been observed that the treatment with prothrombin complex concentrates is the most economical option as it minimizes the hospital stay and laboratory costs. Direct healthcare costs including drug and hospital costs in Europe are approximately US$ 400,000 for prothrombin complex concentrates, whereas for warfarin withdrawal therapy, it was approximated US$ 1,200,000.

Manufacturers tend to depend on plasma as a primary precursor to manufacture prothrombin complex concentrates, and in the past, they relied on third-party sources for plasma. Manufacturers are now opening their own plasma collection banks to reduce dependence on third-party sources. This trend has been observed to have grown since 2013. The key players operating in the market, such as CSL Behring & Shire, have scaled up their focus on depending on their own sources for plasma.

Keytakeways:

1.Essential Hemostatic Support: Prothrombin Complex Concentrates (PCC) play a vital role in providing rapid and effective hemostatic support for individuals with clotting disorders.

2.Swift Reversal: PCC offers a rapid reversal of anticoagulant effects, making it crucial in emergency situations, such as bleeding events or urgent surgical interventions.

3.Diverse Indications: Widely used across diverse indications including hemophilia, vitamin K deficiency, and warfarin-related bleeding, PCC demonstrates its versatility.

4.Improved Patient Outcomes: PCC's ability to rapidly restore normal clotting factors contributes to improved patient outcomes by reducing bleeding risks.

5.Convenience in Dosage: PCC's concentrated form allows for lower volumes of administration, minimizing fluid overload concerns during treatment.

6.Precise Coagulation Restoration: PCC's specific coagulation factor composition ensures targeted and accurate restoration of clotting factors.

7.Advances in Safety: Ongoing advancements in PCC manufacturing processes enhance safety profiles, reducing the risk of adverse events.

8.Broader Accessibility: Expanding awareness and adoption of PCC globally facilitate improved accessibility to life-saving clotting factor therapy.

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Competitive Environment :
Companies use a variety of strategies to increase their market share. These are some examples:
Strategic alliances and collaborations: Many businesses are forming alliances and collaborations with other businesses in order to broaden their market reach, develop new products, and improve their manufacturing capabilities. For example, Sanquin and Octapharma announced a long-term collaboration in 2021 to develop and manufacture prothrombin complex concentrates for the treatment of bleeding disorders.

Product differentiation and innovation: Many companies are working to create new and innovative prothrombin complex concentrates that provide improved efficacy, safety, and patient convenience. CSL Behring, for example, received FDA approval for its Idelvion product in 2020, which is a longer-acting factor IX therapy that can be administered less frequently than traditional prothrombin complex concentrates.

Market expansion: Many businesses strive to expand their market.

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Key Segments :

Distribution Channel:
•Compound Pharmacies
•Retail Pharmacies
•Hospital Pharmacies

Region:
•North America
•Latin America
•Europe
•APEJ
•Middle East & Africa (MEA)

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Report :
https://www.futuremarketinsights.com/reports/prothrombin-complex-concentrate-market

This release was published on openPR.