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Fibrinogen market size becomes USD 2133.3 million by 2029 with a CAGR of 14.6% during 2023-2029

04-15-2024 03:04 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Quants and Trends

Fibrinogen market

Fibrinogen market

The global Fibrinogen market size was valued at USD 819.7 million in 2022 and is forecast to a readjusted size of USD 2133.3 million by 2029 with a CAGR of 14.6% during review period. The global fibrinogen market has witnessed significant growth in recent years, driven by advancements in healthcare technology, increasing prevalence of chronic diseases, and rising demand for fibrinogen-based products across various medical applications. This press release aims to provide a comprehensive overview of the fibrinogen market, including key players, market segmentation, regional analysis, market strengths, weaknesses, opportunities, threats, past performance, forecast, research and development activities, and analytical frameworks such as PESTEL and SIPOC.

Market Overview:
Fibrinogen, a vital blood clotting protein, plays a crucial role in hemostasis and wound healing. The fibrinogen market encompasses various products derived from human plasma, including fibrinogen concentrates, cryoprecipitate, and fibrin sealants. These products find extensive applications in surgical procedures, trauma management, and treatment of rare bleeding disorders.
Global core fibrinogen manufacturers include CSL Behring, LFB Group and Shanghai RAAS Blood Products etc. The top company hold a share about 52%. North America is the largest market, with a share about 31%, followed by Europe and Asia Pacific with the share about 28% and 26%.

Market Key Players:
• CSL Behring
• LFB Group
• Shanghai RAAS Blood Products
• Jiangxi Boya Bio-Pharmaceutical
• Hualan Biological Engineering
• Harbin Pacific Biopharmaceutical
• GREEN CROSS
• Shanghai XinXing Medical
• Taibang Biologic
• Octapharma

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Market Segmentation by Type:
• Human Fibrinogen
• Animal Fibrinogen

Market Segmentation by Application:
• Congenital Fibrinogen Deficiency
• Surgical Procedures
• Others

US Market:
The United States accounts for a significant share of the global fibrinogen market, driven by the high prevalence of cardiovascular diseases, increasing surgical procedures, and robust healthcare infrastructure supporting the adoption of advanced fibrinogen-based therapies.

EUROPE Market:
Europe is a key region in the fibrinogen market, characterized by a growing elderly population, rising healthcare expenditure, and favorable reimbursement policies for plasma-derived products.

APAC Market:
The Asia-Pacific region exhibits immense growth potential in the fibrinogen market, attributed to the increasing incidence of trauma cases, improving healthcare infrastructure, and expanding awareness about bleeding disorders.

Middle-East Market:
The Middle East region is witnessing steady growth in the fibrinogen market, supported by government initiatives to enhance healthcare infrastructure and rising investments in research and development activities.

Market Segmentation by Regions:
• North America (United States, Canada and Mexico)
• Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
• Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
• South America (Brazil, Argentina, Colombia, and Rest of South America)
• Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

For Exhaustive Table of Contents and Tables and Figures, please visit @ https://quantsandtrends.com/Fibrinogen-Market

Market Strengths:
Key strengths of the fibrinogen market include growing demand for plasma-derived therapies, expanding applications in surgical procedures, and increasing investments in research and development for novel fibrinogen-based products.

Market Weaknesses:
Challenges facing the fibrinogen market include stringent regulatory requirements for plasma-derived products, limited availability of plasma donors, and concerns regarding the transmission of infectious diseases.

Market Opportunities:
Opportunities in the fibrinogen market lie in the development of recombinant fibrinogen products, expansion of product portfolios by key players, and strategic collaborations for product commercialization in emerging markets.

Market Threats:
Threats to the fibrinogen market include pricing pressures, competition from alternative hemostatic agents, and the emergence of substitutes such as synthetic fibrinogen analogs.

Market Past Performance:
The fibrinogen market has demonstrated steady growth over the past decade, fueled by increasing healthcare expenditure, advancements in biotechnology, and rising awareness about bleeding disorders.

Market Forecast:
The global fibrinogen market is projected to witness robust growth in the coming years, driven by the rising prevalence of cardiovascular diseases, growing demand for fibrinogen-based therapies, and expanding applications in trauma management and surgical procedures.

Market Research and Development:
Ongoing research and development efforts focus on developing novel fibrinogen-based therapies with improved efficacy, safety, and ease of administration. Key areas of research include recombinant fibrinogen, fibrinogen mimetics, and gene therapy approaches.

Market PESTEL Analysis:
A PESTEL analysis of the fibrinogen market reveals key factors influencing its growth, including political stability, economic trends, socio-cultural factors, technological advancements, environmental regulations, and legal frameworks governing plasma-derived products.

Market SIPOC Analysis:
A SIPOC (Suppliers, Inputs, Process, Outputs, Customers) analysis of the fibrinogen market elucidates the key stakeholders involved in the value chain, from plasma donors and manufacturers to healthcare providers and patients.

Conclusion:
In conclusion, the global fibrinogen market is poised for significant growth, driven by increasing healthcare expenditure, rising prevalence of bleeding disorders, and expanding applications in surgical procedures and trauma management. Key players are leveraging advancements in biotechnology to develop innovative fibrinogen-based therapies, thereby enhancing patient outcomes and driving market expansion. Despite challenges and uncertainties, the future outlook for the fibrinogen market remains promising, with ample opportunities for innovation and growth.

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