Number of pages: 100 | Report Format: PDF | Published date: March 29, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 772.2 million |
Revenue Forecast in 2031 |
US$ 1,702.2 million |
CAGR |
9.18% |
Base Year for Estimation |
2022 |
Forecast Period |
2023-2031 |
Historical Year |
2021 |
Segments Covered |
Product Type, Application, End User, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global prothrombin complex concentrate market was valued at US$ 772.2 million in 2022 and is expected to register a revenue CAGR of 9.18% to reach US$ 1,702.2 million by 2031.
Prothrombin Complex Concentrate Market Fundamentals
Prothrombin complex concentrate (PCC) is a medication that contains clotting factors II, VII, IX, and X, as well as protein C and protein S. PCC is used to treat bleeding disorders, particularly those caused by deficiencies or defects in these clotting factors. PCC is typically administered intravenously and can be used to reverse the effects of certain blood-thinning medications, such as warfarin. It is also used to manage bleeding associated with liver disease, vitamin K deficiency, and other conditions that affect the production or function of clotting factors. PCC is a potent medication that should only be used under the guidance of a healthcare provider with expertise in the management of bleeding disorders. Adverse effects may include thrombosis (formation of blood clots), allergic reactions, and transmission of infectious agents. The prothrombin complex concentrate market is expected to continue growing in the coming years, driven by increasing demand and product innovation. However, regional variations and competition among key players may impact market trends.
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Prothrombin Complex Concentrate Market Dynamics
PCC is used to treat bleeding disorders caused by deficiencies in clotting factors. Globally, the prevalence of clotting factor deficits and bleeding diseases, such as hemophilia and von Willebrand disease, is rising. According to the Centers for Disease Control and Prevention (CDC), over 3.2 million Americans have Von Willebrand disease. This is due to rising aging populations, increasing diagnosis rates, and growing awareness of these disorders. PCC is widely used in surgical procedures to control bleeding and reduce the need for blood transfusions. The increasing number of surgical procedures globally is expected to drive demand for PCC, thus leading to the revenue growth of the global prothrombin complex concentrate market. Advancements in PCC products have led to improved safety and efficacy, such as the reduced risk of thromboembolic events and faster onset of action. These improvements have increased the adoption of PCC by healthcare providers. Growing awareness of PCC among healthcare providers and patients is expected to boost the revenue growth of the global prothrombin complex concentrate. The increasing awareness of PCC’s effectiveness in treating bleeding disorders is expected to increase its usage in the coming years. Demand is expected to rise as healthcare providers and patients become more familiar with PCC and its benefits. An increase in demand for non-human-derived PCC is one of the driving factors. Some patients with bleeding disorders may have an allergic reaction to PCC derived from human plasma. As a result, there is increasing demand for non-human derived PCC, such as those derived from recombinant technology or animal sources.
However, several potential factors could restrain the revenue growth of the global prothrombin complex concentrate market. Like any medical treatment, PCCs carry some risks. There have been reports of adverse events associated with PCC usage, such as blood clots and allergic reactions. This could limit its usage in certain patient populations or regions with stringent safety regulations. Other clotting factors and blood products can be used to treat bleeding disorders, such as fresh frozen plasma and recombinant clotting factors. These alternatives may be more widely available or cost-effective than PCC, which is likely to restrain revenue growth of the global prothrombin complex concentrate market.
Prothrombin Complex Concentrate Market Ecosystem
The global prothrombin complex concentrate market has been analyzed from four perspectives: product type, application, end-user, and region.
Prothrombin Complex Concentrate Market by Product Type
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Based on product type, the global prothrombin complex concentrate market has been segmented into 3-factor PCC and 4-factor PCC.
The 4-factor PCC segment account for the largest revenue share of the global prothrombin complex concentrate market. The main factors responsible for the segment’s leading position include increased 4-factor PCC brand penetration in emerging markets and their clinically demonstrated efficacy for urgent warfarin reversal. Examples of these products include Kcentra and Beriplex. In addition, the segment is expected to grow in terms of revenue share due to the effective government initiatives to ’reduce the side effects of warfarin. As hemophilia is becoming more common and Bebulin and Profilnine SD are in higher demand, the 3-factor segment is expected to rise significantly in terms of revenue share during the forecast period. Additionally, the market segment is expected to grow due to the rising need for plasma products in hospitals during the coronavirus pandemic.
Prothrombin Complex Concentrate Market by Application
Based on application, the global prothrombin complex concentrate market has been segmented into congenital coagulation factor deficiency and acquired coagulation factor deficiency.
The acquired coagulation factor deficiency segment is expected to register a high revenue CAGR in the global prothrombin complex concentrate market during the forecast period. The segment is likely to be impacted by increase in warfarin-related life-threatening bleeding, rise in instances of induced coagulation factor deficit during surgical operations, and growth in product launches. The Hemophilia Federation of America estimates that about 29,000 incidents of warfarin-associated bleeding are treated in emergency rooms in the United States every year. This is expected to accelerate the segment’s revenue growth during the forecast period. Additionally, the category is anticipated to pick up steam due to Kcentra’s rising sales amid COVID-19.
Prothrombin Complex Concentrate Market by End User
Based on end user, the global prothrombin complex concentrate market has been segmented into hospitals, specialty clinics, ambulatory surgical centers, and others.
The hospital segment accounts for the largest revenue share in the global prothrombin complex concentrate market. The emergence of the COVID-19 pandemic, favorable government regulations, and the rise in hospital plasma product purchases are responsible for the dominance of this segment. PCC is becoming increasingly popular. Increase in the number of surgeons and private clinics is expected to fuel revenue growth in the specialized clinics segment during the forecast period. Due to the increasing investments made by public and private players to improve healthcare facilities, the other segment, which includes urgent care centers, emergency trauma centers, doctors’ offices, etc., is expected to expand at a higher revenue share.
Prothrombin Complex Concentrate Market by Region
Based on region, the global prothrombin complex concentrate market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
. North America is one of the major markets for PCC, with the United States being the largest market in terms of revenue share. The demand for PCC is driven by an increase in the number of patients with bleeding disorders, growth in awareness about the benefits of PCC, and advancements in the healthcare infrastructure. Some of the major players in the North America PCC market include CSL Behring, Grifols, Octapharma, Kedrion, and Pfizer. These companies are focused on developing and marketing PCC products that are safe, effective, and affordable for patients, driving the market revenue share of this region. A rise in the shift towards developing PCC products that are easier to administer and have a longer half-life has led to the launch of new PCC products that can be administered through subcutaneous injection, reducing the need for hospitalization and allowing patients to self-administer at home. Overall, the North America PCC market is expected to continue to grow with a significant rise in revenue share in the coming years, driven by an aging population, an increase in the prevalence of bleeding disorders, and the development of new and improved PCC products.
Europe accounts for the second largest revenue share in the global prothrombin complex concentrate market. The high prevalence of bleeding disorders, such as hemophilia and von Willebrand disease, primarily drives the Europe market. Germany, the United Kingdom, France, Italy, and Spain are the major contributors to the revenue growth of the PCC market in Europe. The regional market is highly consolidated, with a few key players dominating the market share, including CSL Behring, Grifols, Octapharma, and Pfizer.
Asia Pacific is expected to register a significant revenue growth rate in the global prothrombin complex concentrate market due to the increasing prevalence of hemophilia, improving healthcare infrastructure, and rising healthcare expenditure. Furthermore, several pharmaceutical companies operating in the Asia Pacific region are actively engaged in the development and marketing of PCC products. For instance, CSL Behring, a global biotech company, has a significant presence in Asia and offers a range of PCC products to treat bleeding disorders. Overall, the prothrombin complex concentrate market in Asia Pacific is expected to grow in terms of revenue share during the forecast period due to the increasing prevalence of bleeding disorders and the availability of effective treatments, such as PCC.
The market is expected to rise in terms of revenue share in the Middle East, Africa, and Latin America due to the increased prevalence of bleeding disorders, the expansion of distribution networks in these regions, and higher healthcare spending.
Competitive Landscape
The prominent players operating in the global prothrombin complex concentrate market are:
Prothrombin Complex Concentrate Market Strategic Developments
The global prothrombin complex concentrate market is expected to grow at a revenue CAGR of 9.18% during the forecast period.
Takeda Pharmaceuticals, Grifols, S.A., Octa Pharma AG, China Biologic Products Holdings, Inc., and CSL Behring are among the key players in the global prothrombin complex concentrate market.
The 4-factor PCC segment accounts for the largest revenue share of the global prothrombin complex concentrate market.
Asia Pacific is expected to observe the highest revenue growth in the global prothrombin complex concentrate market during the forecast period.
Prothrombin complex concentrate is a relatively expensive treatment compared to other clotting factors. This could make it difficult for patients to afford and limit its usage in regions with limited healthcare resources.
*Insights on financial performance are subject to the availability of information in the public domain