PUBLISHER: Grand View Research | PRODUCT CODE: 1529757
PUBLISHER: Grand View Research | PRODUCT CODE: 1529757
Coagulants Market Size & Trends
The global coagulants market size was estimated at USD 10.47 billion in 2023 and is projected to grow at a CAGR of 7.2% from 2024 to 2030. The market in healthcare is primarily driven by the increasing prevalence of bleeding disorders and chronic diseases that require blood clotting factors for treatment. Conditions like hemophilia, von Willebrand disease, and thrombophilia necessitate the use of coagulants to manage and control them effectively. The rising incidence of these disorders globally is propelling the demand for this market.
Moreover, technological advancements and the development of novel coagulation therapies are driving innovation and expanding the sector. Manufacturers are investing in research and development to introduce more efficacious and safer products, including recombinant clotting factors and extended half-life products. These advancements aim to enhance patient outcomes, reduce treatment burden, and improve overall quality of life for individuals with bleeding disorders. According to Centers for Disease Control and Prevention, it's estimated that around 33,000 males in the U.S. are living with hemophilia as of May 2024.
Moreover, advancements in medical technology and research have led to development of novel coagulant products with improved efficacy and safety profiles. Innovations like recombinant clotting factors and extended half-life products offer patients more convenient treatment options and better outcomes. These technological advancements drive growth by expanding the range of available therapies and enhancing patient adherence to treatment regimens. In April 2024, Avenacy launched its FDA-approved Desmopressin Acetate Injection in the U.S., serving as a generic alternative to DDAVP Injection. This medication is aimed at treating central diabetes insipidus, hemophilia A, and Type I von Willebrand's disease.
Furthermore, favorable government initiatives and policies aimed at improving healthcare infrastructure and promoting preventive care are boosting the industry. Governments worldwide are focusing on enhancing access to quality healthcare services, including diagnostic testing facilities for early detection and management of disorders such as clotting factor deficiencies and hypercoagulable states. Incentives for research and development activities focused on hemostasis and thrombosis have also encouraged industry players to invest in developing cutting-edge technologies. For instance, initiatives like the National Hemophilia Program are done in collaboration with Centers for Disease Control and Prevention in the U.S. support research efforts to advance hemostasis-related treatments.
Regulatory requirements play a significant role in driving the healthcare industry. With the increasing emphasis on patient safety and quality care, several regulatory bodies including Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have implemented strict guidelines in healthcare settings. These regulations ensure that the products are safe, effective, and of high quality, thereby driving demand for these products. For instance, the FDA has established the Current Good Manufacturing Practice (CGMP) regulations to ensure that they are product under controlled conditions to maintain their identity, strength, quality, and purity. Compliance with these regulations requires manufacturers to invest in advanced technologies and equipment, which in turn drives the demand.
Global Coagulants Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global coagulants market report based on product, application, route of administration, and region.
U.S.
Canada
Mexico
Germany
UK
France
Italy
Spain
Denmark
Sweden
Norway
China
Japan
India
South Korea
Australia
Thailand
Brazil
Argentina
South Africa
Saudi Arabia
Kuwait
UAE