The market for prothrombin complex concentrates is anticipated to be worth US$ 772.0 million in 2023 and US$ 1.2 billion in 2033. The United Kingdom, the United States, China, and India are expected to emerge as major producers as the market for prothrombin complex concentrates is predicted to grow at a consistent CAGR of 4.1% 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.
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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.
Compound pharmacies, retail pharmacies, and hospital pharmacies distributing prothrombin complex concentrates are the primary point of contact for patients experiencing hemophilia B and other disorders. The hospital pharmacies segment in the prothrombin complex concentrates market accounted for over 40% revenue share in 2017. The growing demand for cost-effective diagnostic options is also expected to propel the growth of the global prothrombin complex concentrates market over the forecast period.
The manufacturers of prothrombin complex concentrates are particularly focusing on acquisitions, collaborations, and opening plasma banks, where joint collaboration with various organizations is the prime activity to spread awareness regarding the efficiency of prothrombin complex concentrates.
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The growing geriatric population & unmet hemophilia therapeutic needs are also expected to be important factors fueling the growth of the prothrombin complex concentrates market over the forecast period. The worldwide incidence of hemophilia is not well known and it is estimated that 75% of people with hemophilia receive inadequate treatment or have no access to the treatment. The growth in the global population over 65 years of age is expected to be the high impact driver for the growth of the market. As per the U.S. Census Board, around 13% of the U.S. population is above 65 years old and this figure is estimated to touch 20 % by the end of 2030.
Development of prothrombin complex concentrates and commercial production are highly intricate and complex. Prothrombin complex concentrates are prepared from pooled plasma. They pose a theoretical risk of transmitting infectious agents, which might survive the extraction and attenuation steps during the manufacturing process. There is a lack of substantial clinical evidence on contraindications and exclusion criteria, which is expected to hinder the growth of the prothrombin complex concentrates market over the forecast period.
Examples of some of the key participants operating in the prothrombin complex concentrates market analyzed in this report are Shire, Octapharma AG, Nihon Pharmaceutical Co Ltd, Sanquin Blood Supply Foundation, CSL Behring GmbH, Kedrion Biopharma Inc, and Grifols, S.A.
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