Global Blood Clotting AccelerantMarket- Impact of COVID-19
An unprecedented outbreak of theCOVID-19 (coronavirus) has impacted BloodClotting Accelerants Market negatively. As coronavirus spread in New Yorkin late March, doctors of Mount Sinai Hospital noticed something strangehappening to patient’s blood. Doctors from different specialties observed Signsof blood thickening and clotting were being detected in different organs inpatient. Thus, use of blood clotting accelerants may lead to dangeroussituation during this pandemic period, as thrombosis, blood cancer, andpulmonary embolism patients are at high risk of being affected by COVID-19infection. In such cases, further administration of blood clot accelerants inpatients may lead to patient fatalities. This factor is resulting in decliningdemand for blood clot accelerants during this pandemic situation.
Blood clot accelerants are usedto improve the process of blood clotting with a shorter period of time thannormal required time in an individual. The use of blood clotting accelerants isincreasing due to higher prevalence of conditions such as anemia, hemophilia,deep vein thrombosis, pulmonary embolism, and genetic blood deficiencies, whichaffect normal coagulation process. According to the Centers for Disease Controland Prevention (CDC), from 1998 to 2014, the precise number of people affectedby deep vein thrombosis (DVT)/ pulmonary embolism(PE) is unknown, however,around 900,000 people could be affected (1 to 2 per 1,000) each year in theU.S. Blood clot accelerants are available in two types, crystalline blood clotaccelerants and aqueous blood clot accelerants, whereas crystalline blood clotaccelerants are more effective over aqueous blood clot accelerants due to itslonger shelf life period.
Global Blood Clotting AccelerantMarket- Drivers
The rising prevalence ofhemophilia, thrombosis, pulmonary embolism, and deep vein thrombosis isresulting in increasing burden of blood clot conditions in the world. Bloodclotting accelerant is an effective treatment for hemophilia and thrombosisblood clot conditions and also in surgical procedures. Thus, pharmaceuticalcompanies across the world are focusing on research and development, to expectgrowth and make profit in the global blood clotting accelerant market. Forinstance, in July 2020, Precision Biologic Inc, a leading developer of bloodclot accelerant products, announced the launch of CYROCHECK chromogenic factorVIII assay in the U.S. It will be used by clinical labs for determination offactor VIII in human plasma in case of hemophilia A.
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Global Blood Clotting AccelerantMarket- Restraints
Special precautions are to betaken for storage of blood clot accelerant products, as it is important tostore them in specific temperature. The primary drawback in blood clottingaccelerant market is that, blood clotting agents are mainly composed of bloodcoagulant factors, which decrease the coagulation time. These coagulant factorsare at a high risk of causing impurity in blood clotting accelerators.Moreover, in case of clinical practices/ hospitality practices handling ofblood clotting agents is very difficult and very small mistake in handling maylead to severe condition in patients. These factors are expected to restrainthe global blood clotting accelerant market growth.
Global Blood Clotting AccelerantMarket- Regional Analysis
On the basis of region, theglobal blood clotting accelerant market is segmented into North America, LatinAmerica, Europe, Asia Pacific, Middle East, and Africa. North America bloodclotting accelerant market is expected to hold dominant position in the marketand exhibit high growth due to pharmaceutical companies accompanied withresearch and development. For instance, in 2019, Baxter International Incannounced that it received the U.S. Food and Drug Administration (FDA) approvalfor faster preparation of its leading hemostatic product, Floseal HemostaticMatrix, which helps to stop bleeding 96% of the time within 10 minutes duringsurgical procedures.
Moreover, Europe blood clottingaccelerant market is expected to witness significant growth in the market dueto increasing prevalence of blood related diseases such as thrombosis, bloodcancer, and pulmonary embolism. Moreover, various initiatives taken bypharmaceutical companies is expected to support growth of the blood clottingaccelerant market. For instance, in June 2020, Kedrion Biopharma supported ‘WFHVirtual Summit 2020’ the summit had presence of international experts presentto discuss on opportunity on most current and relevant topic in field ofcoagulation disorders, including the challenges faced by pharmaceutical companiesin COVID-19 pandemic.
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Global Blood Clotting AccelerantMarket- Competitive Landscape
Key players operating in globalblood clotting accelerant market include Baxter International Inc, PeproTechInc, and Kedrion SpA. Kedrion S.P.A, Octapharma AG, Novo Nordisk A/S, SekisuiChemical CO. LTD, CSL Limited, Greiner Bio-One AG, Grifols International SA,and ACROBiosystems.
Key Developments-
In 2019, Grifols, S.A. andJohnson & Johnson announced that it received approval from the U.S. Food Drugand Administration to market VISTASEAL. Vistaseal is a fibrin sealant used tomanage surgical bleeding.
In 2019, Octapharma AG, announcedthat the human fibrinogen concentrate FIBRYGA received approval for use intreatment of acquired fibrinogen deficiency (AFD) in 15 European countries
In 2017, Ethicon, a subsidiary ofJohnson & Johnson, announced that it received approval from the U.S. FoodDrug and Administration (FDA) Surgicel powder adsorbate hemostat. Surgicelpowder is used in surgical procedures to control the flow of blood.
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