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A comprehensive market research report has recently analyzed the worldwide “Europe Prothrombin Complex Concentrate Market” industry, employing segmentation based on Geographical Regions, Country, Company, Types, and Applications. Within the Beauty and Personal Care Packaging sector, numerous prominent Key Players[CSL Behring GmbH, OCTA Pharma AG, Kedrion S.P.A., Takeda Pharmaceuticals, China Biologic Products, Sanquin, Grifols S.A, Biotest, Abeona Therapeutics, Insud Pharma], have emerged as leaders by implementing diverse strategies aimed at extending their market presence and strengthening their industry position. This report furnishes valuable insights to stakeholders and participants operating in the global market, equipping them with a competitive edge and offering a robust resource to fulfill their business needs effectively.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
Europe Prothrombin Complex Concentrate Market to Reach USD 409.5 Million by 2028
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Europe’s prothrombin complex concentrate market is growing owing to increasing instances of warfarin-associated bleeding disorders, the frequency of coagulation factor disorders, and people’s rising income levels coupled with factors like less time required to administer and several benefits over other alternative anticoagulation-reversal therapies such as Fresh Frozen Plasma.
A recent study by the strategic consulting and market research firm,Report Ocean, revealed that the Europe prothrombin complex concentrate market was worth USD 197.1 million in 2021. The market is projected to grow at a CAGR of 11.2%, earning around USD 409.5 billion in revenues by 2028. The Europe prothrombin complex concentrate market is booming due to less administration time and several advantages over alternative anticoagulation-reversal therapies such as Fresh Frozen Plasma. Moreover, factors like an increase in warfarin-associated bleeding disorders, the frequency of coagulation factor disorders, and people’s rising income levels propel the Europe prothrombin complex concentrate Market.
Growing Geriatric Populations In Europe Coupled With the Development Of Anticoagulation Clinics Will Open Up Market Opportunities
The continent’s growing aging population is one new reason for boosting Europe’s prothrombin complex concentrate industry. The UN Population Division’s most recent statistics show that nearly 25% of Europeans are 60 years of age or older. Additionally, according to projections from the European Commission (EC), the proportion of EU-27 inhabitants over the age of 80 will increase from 5.8% to 14.6% between 2019 and 2100. Acute liver injury is more likely to occur in older people and is also more susceptible to the fibrotic response. Patients with the liver disease usually develop coagulopathy, making prothrombin complex concentrate an extremely efficient treatment. Researchers from the Royal Free Hospital in London and University College London discovered that PCC therapy improved coagulation test results in individuals with liver illness without causing an excessive number of thrombotic events in a 2019 study they conducted. The effectiveness of PCC treatments and an increase in the number of elderly people will improve the market’s prospects in Europe.
As the use of oral anticoagulants and warfarin has greatly expanded, the emergence of anticoagulation care clinics has entered a phase of the treatment of bleeding disorders. The concept of warfarin clinics is gaining popularity in affluent countries of Europe. Owing to the notable variations in intrapatient & interpatient responses during warfarin administration, as well as the availability of skilled medical personnel and well-equipped infrastructure.
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Acquired Coagulation Factor Accounted For The Largest Market Share in Terms of Application
Application-wise, the acquired coagulation factor deficiency market sector is anticipated to develop at the fastest CAGR and hold dominance. Warfarin prescription rates in the U.K. are rising, and defined guidelines for PCC dose schedules in the event of warfarin-related bleeding events are projected to support this segment’s growth during the projection period. For instance, according to study results published by the National Center of Biotechnology Information (NCBI) in the UK, it has been discovered that at least 1% of the general population and 8% of persons over the age of 80 take warfarin. The acquired coagulation factor deficiency market is also anticipated to show promising growth over the forecast period.
Germany and France Anticipated to Lead the Europe Prothrombin Complex Concentrate Market
On the basis of country, the Europe prothrombin complex concentrate market is divided into Germany, the United Kingdom, Italy, France, The Netherlands, Belgium, Russia, Spain, Poland, Portugal, Austria, and the Rest of Europe. Germany and France are anticipated to lead the Europe PCC market due to a sizable patient pool with congenital factor IX deficiency. On the other side, the U.K. is anticipated to grow at the fastest rate during the forecast period due to the country’s rising prevalence of haemophilia B. This is expected to increase the adoption of PCC throughout Europe. The PCC market in the rest of europe is expanding due to CSL Behring’s PCC brand Confidex’s established operations there and its use to treat both acquired and congenital coagulation factor deficiency. The high demand for the Uman Complex D.I., a 3-factor PCC by Kendrion, in Italy, the rise in bleeding disorders, and the dominance of large PCC producers all have an impact on the chance that France and Italy will develop at a consistent rate.
Market Segment:
By Type(3-Factor And 4-Factor)
By End-User(Hospital, Ambulatory Services And Others)
By Application(Acquired Coagulation Factor Deficiency, Congenital Coagulation Factor Deficiency And Others)
By Country(Germany, United Kingdom, Italy, France, Spain, The Netherlands, Belgium, Russia, Poland, Portugal, Austria And Rest Of Europe)
Impact of COVID-19 on Europe Prothrombin Complex Concentrate Market
The COVID-19 outbreak had no noticeable effect on expanding the prothrombin complex concentrate market. The demand for blood and plasma products has abruptly increased due to the COVID-19 pandemic. According to major PCC manufacturers, the prothrombin complex concentrate market has been favored by changes in the purchasing habits of plasma-derived products. Due to higher plasma center productivity and Kcentra’s double-digit growth, pharmaceutical companies like Grifols and CSL are also experiencing an increase in segmental revenue. On the market as a whole, this is anticipated to have a favorable effect on Europe prothrombin complex concentrate market.
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