Market Size of Thrombin Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 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 | ||||||||
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Thrombin Market Size Summary
The thrombin market is poised for growth, driven by an increasing demand for thrombin surgeries and a rise in blood clotting diseases. The market's expansion is attributed to the growing incidence of trauma cases, accidents, and surgeries, alongside the use of thrombin in blood clotting. The COVID-19 pandemic initially hindered market growth due to reduced surgical cases, but it also highlighted the need for thrombin treatment in patients with coagulation issues. Inherited blood clotting disorders, such as hemophilia and Von Willebrand Disease, are expected to further propel market demand as their prevalence continues to rise globally. Despite the challenges posed by stringent regulatory guidelines, the market is anticipated to experience steady growth over the forecast period.
The hospital segment is expected to be a significant contributor to market growth, fueled by the increasing burden of road accidents and related injuries. Advancements in thrombin therapy, particularly in treating conditions like stroke, are anticipated to enhance the therapeutic applications of thrombin in hospitals. North America is projected to maintain a substantial market share, supported by its robust healthcare infrastructure, high accident rates, and the presence of key market players. The region's market growth is further bolstered by the prevalence of inherited blood disorders and favorable government initiatives. The competitive landscape of the thrombin market is characterized by the presence of major players such as Pfizer Inc., Johnson & Johnson Services Inc., and Bayer, among others, who are actively involved in research and development to advance thrombin-related therapies.
Thrombin Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Adoption of Thrombin in Surgeries
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1.2.2 Surge in the Incidence of Inherited Blood Clotting Disorders
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1.2.3 Increase in Road Accidents
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1.3 Market Restraints
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1.3.1 Strict Regulatory Guidelines
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Bovine Thrombin
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2.1.2 Human Thrombin
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2.1.3 Recombinant Thrombin
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2.2 By Dosage Form
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2.2.1 Powder Form
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2.2.2 Solution Form
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2.3 By End-User
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2.3.1 Hospitals
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2.3.2 Diagnostics Centers & Clinics
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2.3.3 Other End-Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Thrombin Market Size 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.
