Prothrombin Complex Concentrate Market Size And Forecast
Prothrombin Complex Concentrate Market was valued at USD 660.53 Million in 2019 and is projected to reach USD 1439.65 Million by 2027 growing at a CAGR of 10.18% from 2020 to 2027.
The Global Prothrombin Complex Concentrate (PCC) Market is expected to showcase substantial growth during the forecasted period with a boost in the market demand due to an increased effort in the research and development for PCC products. There is a high demand for frozen plasma as well. It promises to be an alternative therapy to PCC which adds up to the Market demand Market. Owing to high adoption and growing demand for sustainable healthcare the revenue share is increasing for PCC. The COVID-19 pandemic has seen a rise in plasma-related therapies which has increased the PCC demand rapidly. The Global Prothrombin Complex Concentrate Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Prothrombin Complex Concentrate Market Definition
Prothrombin Complex Concentrate (PCC), also known as factor lX complex, is a medication made up of blood clotting factors ll, lX and X. Some of the versions also contain factor Vll. It is used to treat and prevent bleeding in hemophilia B is pure factor lX is not available. It may also be used in those with not enough of these factors due to other reasons such as warfarin therapy. It is injected into the body through a needle or a syringe into a vein. Common side effects include allergic reactions, vomiting, headaches, and sleepiness. It can have some serious side effects as well such as blood clots which may lead to a heart attack, stroke, and pulmonary embolism and so on.
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Global Prothrombin Complex Concentrate Market Overview
PCC promises to have a substantial rise due to its clinical advantage against fresh frozen plasma (FPP). PCC requires less volume and time to infuse with respect to FPP and proves to be more effective. PCC also does not require blood matching and thawing like FPP. These advantages of PCC make it preferable over FPP thus adding to the Market demand of PCC. Recent government regulations and policies also have worked in favor of PCC with some relaxation in its usage approval.
Favorable government funding towards PCC is another driving factor for its substantial growth. Owing to COVID-19 and a rise in plasma-related therapies PCC has seen a rapid increase in its demand for various therapies. The high degree of competition and increased procurement costs are some of the factors which could restraint the PCC demand during the forecasted period.
Global Prothrombin Complex Concentrate Market Segmentation Analysis
The Global Prothrombin Complex Concentrate Market is segmented based on Product, Applications, End-Use, and Geography.
Prothrombin Complex Concentrate Market, By Product
• 3-Factor PCC
• 4-Factor PCC
• Others
3-Factor PCC contains low levels of factor Vll and 4-Factor PCC contains vitamin K- dependent coagulation factors ll (Fll), Vll (FVll), lX (FlX) and X (FX) and the antithrombotic proteins C and S. The excipients are human antithrombin lll, heparin albumin, sodium chloride and sodium citrate.
Prothrombin Complex Concentrate Market, By Application
• Acquired Coagulation Factor Deficiency
• Congenital Coagulation Factor Deficiency
• Others
Acquired Coagulation Factor Deficiency is a scenario where the antibodies inhibit the activity or increase the clearance of the clotting factor. Congenital Coagulation Factor Deficiency refers to an inherited deficiency of coagulation factors in the blood.
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Prothrombin Complex Concentrate Market, By End-Use
• Hospitals
• Ambulatory Surgical Centers
• Others
PCC therapy can be conducted at hospitals and surgical centers as well where there is a need accordingly.
Prothrombin Complex Concentrate Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
Key Players In Prothrombin Complex Concentrate Market
The “Global Prothrombin Complex Concentrate Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the Market are CSL Behring GmBH, Kedrion S.p.A, Octapharma AG, Novo Nordisk, China Biologic Products Holdings Inc., Baxter, Grifols, Shire US Inc., and Kedrion S.p.A. The competitive landscape section also includes key development strategies, Market share, and Market ranking analysis of the above-mentioned players globally.
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