Global Fibrinogen Concentrate Market to 2030: Increasing use of Fibrinogen Concentrates in Patients for Treatment of Bleeding and Congenital Deficiencies Drives Growth

DUBLIN, April 20, 2023 /PRNewswire/ -- The "Fibrinogen Concentrate Market Size, Share, Trends, By Type, By Application, and By Region Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.

The market size of fibrinogen concentrate was valued at USD 2.80 Billion in 2021 and is anticipated to register a revenue CAGR of 6.1% during the forecast period.

Companies Mentioned

• CSI
• Baxter
• LFB Group
• ProFibrix BV
• Shanghai RAAS
• Jiangxi Boya Bio Pharmaceutical
• Hualan Biological Engineering
• Harbin Pacific Biopharmaceutical Co. Ltd.
• Green Cross
• Shanghai Xinxing Medicine Co. Ltd.

The market revenue growth can be attributed to the rising usage of fibrinogen concentrates in treating bleeding disorders such as Congenital Fibrinogen Deficiencies (CFD) and the increasing number of approvals related to fibrinogen concentrate.

Fibrinogen is a glycoprotein that plays a crucial role in the blood clotting process, and fibrinogen concentrate is used to treat bleeding problems in patients who lack congenital fibrinogen. The use of individualized fibrinogen supplementation can prevent bleeding during surgeries and spontaneous or traumatic bleeding events in individuals with CFD .

Fresh Frozen Plasma (FFP) or cryoprecipitate were previously used to replace fibrinogen, but Human Fibrinogen Concentrate (FCH) has largely taken their place due to its benefits. Compared to FFP or cryoprecipitate, FCH provides a standardized dose of human plasma-derived fibrinogen, which can be provided in a small volume, reducing the risk of volume overload.

Furthermore, FCH reduces the risk of transfusion-related acute lung injury and passes through a viral inactivation phase, which reduces the likelihood of viral transmission. Guidelines recommend administering 50-100 mg/kg of FCH for significant bleeding/major surgery in CFD patients to maintain plasma levels of >1.0 g/L. Long-term prophylaxis with FCH is recommended for individuals with a personal or family history of severe bleeding or with fibrinogen levels below 0.1 g/L, with the aim of maintaining plasma fibrinogen levels >0.5 g/L .

In addition, there is an increasing trend in the market of using fibrinogen concentrate to treat Acquired Fibrinogen Deficiency (AFD). High blood loss from major surgeries or trauma causes AFD, and there is a significant medical need for a licensed fibrinogen concentrate for this indication since AFD is typically treated with cryoprecipitate.

A clinical development program for a highly rare disease began in 2011 to examine the usage of high-purity human fibrinogen concentrate in congenital fibrinogen deficiency, which also served as the first step in Octapharma's clinical program to treat AFD. After eight years of careful design, planning, and clinical trial execution, their high-purity human fibrinogen concentrate has now received approval for the treatment of AFD in 15 EU countries, demonstrating that it is a more viable and dependable alternative to cryoprecipitate for AFD.

Market Dynamics:

Driver:

The market growth is being driven by the increasing awareness and concern about health among individuals. Despite the recent improvements in health outcomes in Low- and Middle-Income Countries (LMICs), there is a growing need for health systems to achieve better outcomes and provide higher social value due to changing health needs, rising public awareness, and new health goals.

To achieve this, high-quality health systems are required that provide consistent care and adapt to the changing demands of the population. The demand for high-quality treatment, including fibrinogen concentrate, is increasing, leading to an increase in market revenue growth.

Restraint:

Adverse reactions, such as arterial thrombosis, chills, dyspnea, nausea, vomiting, and pulmonary embolism, are limiting market growth. Fibrinogen concentrate can cause generalized reactions such as chills, fever, nausea, and vomiting. Allergic-anaphylactic reactions may also occur, which could be an allergy symptom or a sign of hypersensitivity reactions. In such cases, medication should be stopped immediately.

Additionally, patients with congenital fibrinogen insufficiency who receive fibrinogen replacement therapy may experience thrombosis. Fibrinogen concentrate treatment may also result in signs and symptoms of pulmonary embolism, myocardial infarction, deep vein thrombosis, and arterial thrombosis .

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Fibrinogen Concentrate Market Segmentation & Impact Analysis
4.1. Fibrinogen Concentrate Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Increasing use of fibrinogen concentrates in patients for treatment of bleeding and congenital deficiencies
4.2.2.2. Rise in awareness and concerns pertaining to health
4.2.3. Market restraints analysis
4.2.3.1. Certain adverse reactions such as arterial thrombosis, chills, dyspnea, nausea, vomiting, and pulmonary embolism
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Price Trend Analysis
4.6. Customer Mapping
4.7. Covid-19 Impact Analysis
4.8. Global Recession Influence

Chapter 5. Fibrinogen Concentrate Market By Type Insights & Trends

Chapter 6. Fibrinogen Concentrate Market By Application Insights & Trends

Chapter 7. Fibrinogen Concentrate Market Regional Outlook

Chapter 8. Competitive Landscape
8.1. Market Revenue Share by Manufacturers
8.2. Manufacturing Cost Breakdown Analysis
8.3. Mergers & Acquisitions
8.4. Market Positioning
8.5. Strategy Benchmarking
8.6. Vendor Landscape

Chapter 9. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/r/d9t32k

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets 
Laura Wood, Senior Manager 
[email protected]  

For E.S.T Office Hours Call +1-917-300-0470 
For U.S./CAN Toll Free Call +1-800-526-8630 
For GMT Office Hours Call +353-1-416-8900 

U.S. Fax: 646-607-1907 
Fax (outside U.S.): +353-1-481-1716

Logo: http://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets