Fibrinogen Concentrates Market to Reach Valuation of US$ 700 Mn by 2031; High Volume Clinical Use in Coagulation Applications Bolsters Market Growth, TMR

ALBANY, N.Y., Nov. 9, 2021 /PRNewswire/ -- The expanding medical practice of use of fibrinogen concentrates for the management of severe bleeding episodes is a key factor fuelling the fibrinogen concentrates market. Fibrinogen concentrates are gaining popularity due to their precise dose of administration in place of whole blood for a desired level in the bloodstream.

The substantial evidence of tolerance of fibrinogen concentrate in patients with congenital fibrinogen deficiency (CFD) and its efficacy for treating bleeding episodes is another key factor driving the fibrinogen concentrates market. Fibrinogen concentrate has a favorable safety profile and served to be effective to treat bleeding in surgical and non-surgical situations.

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The fibrinogen concentrates market is estimated to clock CAGR of 5.7% from 2021- 2031.

Fibrinogen Concentrates Market – Key Findings of Report

Improved Survival Rate for Patients of Trauma-induced Coagulopathy Boosts Adoption

The early administration of fibrinogen concentrate is associated with improved survival rate for patients with critical injuries. In the ideal scenario, early administration of fibrinogen concentrate mostly occurs in trauma care before hospitalization. Fibrinogen concentrate is administered in a complex and time-sensitive environment to prevent fibrinogen depletion to promote rapid blood clot initiation and clot stability.

The growing incidence of trauma-induced coagulopathy (TIC) in critically injured and severely bleeding patients in emergency department (ED) admissions of hospitals that is related to increased mortality is increasing the demand for fibrinogen concentrates. In order to serve this, companies in the fibrinogen concentrates market are expanding their production capabilities for these products.

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The growing evidence of early administration of fibrinogen supplementation associated with improved survival rate in patients of trauma is accentuating demand for fibrinogen concentrates. This is leading to the expanding demand for fibrinogen concentrate products in acute trauma care centers prior to hospitalization.

Significant Number of Hemorrhage-related Fatalities Drives Demand

Hemorrhage is related to significant number of deaths in the first hour of hospital admissions. This is leading to the growing emphasis on hemostatic resuscitation in pre-hospital settings and emergency care of battlefields. In particular, remote damage control resuscitation (RDCR) is growing popular within fibrinogen concentrate therapies. However, the availability and logistics challenges associated with hemostatic products that can be stored, transported, and used easily in tough external conditions is a challenge. This is driving manufacturers of fibrinogen concentrates to discover novel solutions.

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Besides this, the growing evidence of fibrinogen concentrates to reduce transfusion of blood products and increase survival rate of patients after severe trauma is driving R&D for improved fibrinogen concentrate products. Research collaborations that involve randomized controlled trials to assess how fibrinogen concentrates help to reduce proneness to bleeding and reduce transfusion requirements are underway.

Research Collaborations for Improved Patient Outcomes Gathers Steam

The increasing collaboration of manufacturers of fibrinogen concentrates with researchers, medical experts, and scientists for improved products is promising for the growth of fibrinogen concentrates market. For instance, Canadian Blood Services – an enterprise for lifesaving transfusion and transplantation products and services is gaining recognition for consistent improvement of patient quality of life.

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Such initiatives are supporting national studies, which suggest fibrinogen concentrate is equivalent to cryoprecipitate in controlled post-surgical bleeding.

The need to mitigate high incidence of thrombosis and disordered hemostasis associated with COVID-19 is also driving manufacturers for improved anticoagulation therapies. This is creating opportunities in the fibrinogen concentrates market.

Fibrinogen Concentrates Market – Growth Drivers

• Clinical use of fibrinogen concentrates for the treatment of severe bleeding in patients suffering from congenital fibrinogen deficiency fuels the fibrinogen concentrates market
• Collaborations of product manufacturers with the scientific community coupled with an array of recent product approvals boost the fibrinogen concentrates market

Fibrinogen Concentrates Market – Key Players

Some of the key players operating in the fibrinogen concentrates market are LFB GROUP, Octapharma AG, Shanghai RAAS, Green Cross Corp., and CSL Behring.

The fibrinogen concentrates market is segmented as follows;

Fibrinogen Concentrates Market, by Application

• General Coagulation Management
• Surgery
• Others

Fibrinogen Concentrates Market, by End User

• Hospitals
• ASCs
• Others

Fibrinogen Concentrates Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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