Thrombin Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Thrombin Market Analysis
The thrombin market is projected to register a CAGR of 4.3% over the forecast period.
- COVID-19 significantly impacted the thrombin market. The global lockdown resulted in a decrease in accidents and fewer surgical cases, with some elective surgeries being postponed due to the pandemic. However, studies have shown that COVID-19 patients are more prone to coagulation problems, such as coronary embolism and venous thromboembolism, which can lead to more vascular complications and increase the demand for thrombin treatment.
- In the coming years, the market is expected to witness growth due to the increasing demand for thrombin surgeries and the surge in blood clotting diseases. The major factor attributing to this growth is the rise in trauma cases, accidents, surgeries, and the usage of thrombin in clotting blood. The United States Department of Transportation's National Highway Traffic Safety Administration reported an increase in traffic fatalities by 18.4% from the previous year, which is expected to boost market growth due to the increasing incidences of road accidents.
- Furthermore, inherited blood clotting disorders such as hemophilia and Von Willebrand Disease are expected to contribute to market growth. The World Federation of Hemophilia reported a significant prevalence of hemophilia globally, with more than 200,000 people diagnosed with the disease. As the number of patients increases, the demand for thrombin therapy grows, which is expected to further drive market growth.
- However, the market growth is likely to be impeded by strict regulatory guidelines. Despite this, the market is anticipated to witness growth over the forecast period due to the increasing demand for thrombin therapy.
Thrombin Market Trends
Hospital Segment is Expected to Hold a Significant Market Share Over the Forecast Period
- Hospitals are the primary care settings for diagnosing and treating a wide range of medical conditions, including blood loss-related injury disorders. The hospital segment is expected to witness growth in the market, driven by factors such as the growing burden of road accidents and the subsequent increase in injuries.
- For example, as per the French Road Safety Observatory 2022 update, the number of injury accidents recorded by police forces in Metropolitan France was 3,728 in January 2022, higher than the previous year's result (3,508 accidents). As the number of accidents and injuries increases, the demand for surgical procedures also rises, which is likely to boost market growth.
- Several research studies provide insights into the application of thrombin in various disorders, such as stroke. For instance, a research article published in February 2022 in the Nature Journal suggests that the thrombin-ACSL4 axis could be a significant therapeutic target to reduce ferroptosis neuronal destruction during ischemic stroke. Therefore, the hospital segment utilizes the advancements offered by thrombin therapy, which is expected to drive market growth over the forecast period.
- The government is also expected to significantly impact the growth of the hospitals and surgical centers segment. For instance, according to the December 2021 report of the Centers for Medicare and Medicaid Services (CMS), hospital expenditure in the country increased by 6.4% to USD 1,270.1 billion in 2020. Furthermore, in October 2021, Penn Medicine launched a new hospital, Pavillion, in the United States, which provides inpatient care for cardiology and cardiac surgery, medical and surgical oncology, neurology and neurosurgery, and transplant surgery.
- Overall, due to the increase in accident cases, the rise in funding for hospitals, and the use of thrombin in different surgeries, the hospital segment is expected to witness significant growth over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period
- North America is expected to maintain a significant share of the overall market throughout the forecast period, driven by several factors. The region's established healthcare infrastructure, the high prevalence of accidents and trauma, and the presence of key market players are some of the primary drivers of its large market share. Additionally, an increase in the prevalence of inherited blood disorders, such as hemophilia, is expected to contribute to the market growth in this region.
- According to the World Federation of Hemophilia 2021 report, the United States had approximately 11,790 patients with Hemophilia A and 3,026 patients with Hemophilia B in 2020. Similarly, Canada had 3,223 patients with Hemophilia A and 701 patients with Hemophilia B in the same year. This high number of hemophilia cases in these regions is expected to boost the demand for hemophilia therapies, leading to market growth.
- Furthermore, the market is expected to grow due to beneficial government initiatives and an increase in research partnerships. The United States, in particular, has a significant share in the market due to its supportive healthcare policies, a developed healthcare market, and a high number of patients. According to the Centers for Disease Control and Prevention (CDC), there were 130 million emergency department visits and 35 million injury-related visits in the United States in September 2022. The high number of emergency visits is expected to increase the adoption of thrombin in the United States, thereby driving the growth of the studied market.
- In conclusion, the rise in the prevalence of inherited blood disorders and the increase in the number of emergency visits due to injury-related cases are expected to drive market growth in North America over the forecast period.
Thrombin Industry Overview
The market for thrombin is moderately competitive and is currently dominated by several major players. Some of the companies that are leading the market include Pfizer Inc., Johnson & Johnson Services Inc., Mallinckrodt Pharmaceuticals, Shanghai RAAS Blood Products Co., Ltd, Japan Blood Products Organization, Mochida Pharmaceutical Co., Ltd., Octapharma, Bayer, Baxter, and General Electric Company (GE Healthcare).
Thrombin Market Leaders
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Pfizer Inc.
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Johnson & Johnson
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Baxter
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Shanghai RAAS blood products co., Ltd
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General Electric Company (GE Healthcare)
*Disclaimer: Major Players sorted in no particular order
Thrombin Market News
- April 2022: Bayer AG announced that its new thrombosis prevention drug, Asundexian, demonstrated positive results in a clinical study designed to assess its safety and determine the optimal dosage.
- February 2022: CTI BioPharma Corp. received approval from the United States Food and Drug Administration (FDA) for VONJO (pacritinib) to treat adults with intermediate or high-risk primary or secondary myelofibrosis, including post-polycythemia vera or post-essential thrombocythemia.
Thrombin Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Growing Adoption of Thrombin in Surgeries
- 4.2.2 Surge in the Incidence of Inherited Blood Clotting Disorders
- 4.2.3 Increase in Road Accidents
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4.3 Market Restraints
- 4.3.1 Strict Regulatory Guidelines
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Bovine Thrombin
- 5.1.2 Human Thrombin
- 5.1.3 Recombinant Thrombin
-
5.2 By Dosage Form
- 5.2.1 Powder Form
- 5.2.2 Solution Form
-
5.3 By End-User
- 5.3.1 Hospitals
- 5.3.2 Diagnostics Centers & Clinics
- 5.3.3 Other End-Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Baxter
- 6.1.2 Bayer
- 6.1.3 CSL
- 6.1.4 General Electric Company (GE Healthcare)
- 6.1.5 Grifols, S.A
- 6.1.6 Hualan Biological
- 6.1.7 Johnson & Johnson
- 6.1.8 Mallinckrodt Pharmaceuticals
- 6.1.9 Octapharma
- 6.1.10 Pfizer Inc.
- 6.1.11 Prolytix
- 6.1.12 Shanghai RAAS blood products co., Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityThrombin Industry Segmentation
As per the scope of the report, thrombin is a serine protease blood plasma protein that converts fibrinogen into soluble fibrin to catalyze the blood coagulation process.
The thrombin market is segmented by product (bovine thrombin, human thrombin, and recombinant thrombin), dosage form (powder form and solution form), end-user (hospitals, diagnostics centers & clinics, and others), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments. The report also covers the estimated market sizes and trends for 17 countries across major regions globally.
The report offers the value (in USD million) for the above segments.
| By Product | Bovine Thrombin | |
| Human Thrombin | ||
| Recombinant Thrombin | ||
| By Dosage Form | Powder Form | |
| Solution Form | ||
| By End-User | Hospitals | |
| Diagnostics Centers & Clinics | ||
| Other End-Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Thrombin Market Research FAQs
What is the current Thrombin Market size?
The Thrombin Market is projected to register a CAGR of 4.30% during the forecast period (2024-2029)
Who are the key players in Thrombin Market?
Pfizer Inc., Johnson & Johnson, Baxter, Shanghai RAAS blood products co., Ltd and General Electric Company (GE Healthcare) are the major companies operating in the Thrombin Market.
Which is the fastest growing region in Thrombin Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Thrombin Market?
In 2024, the North America accounts for the largest market share in Thrombin Market.
What years does this Thrombin Market cover?
The report covers the Thrombin Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Thrombin Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Thrombin Industry Report
Statistics for the 2024 Thrombin market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thrombin analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
