Pune, India, Feb. 15, 2021 (GLOBE NEWSWIRE) -- The Australia and New Zealand prothrombin complex concentrate market size is expected to experience considerable growth by reaching USD 40.4 million by 2027 while exhibiting a CAGR of 10.9% between 2020 and 2027. This growth is attributable to the increasing consumption of Vitamin K antagonists such as warfarin that is likely to surge the demand for advanced prothrombin complex concentrates in Australia and New Zealand. This information is published by Fortune Business Insights in its latest report, titled, “Australia and New Zealand Prothrombin Complex Concentrate Market Size, Share & Covid-19 Impact Analysis, By Product (4-factor PCC and 3-factor PCC), By Application (Acquired Coagulation Factor Deficiency and Congenital Coagulation Factor Deficiency and By End User (Hospitals & Ambulatory Surgical Centers, Specialty Clinics, and Others), 2020-2027.” The report further observes that the market stood at USD 17.8 million in 2019.
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The COVID-19 pandemic has affected several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies and reduced labor force, several industries have been on a standstill with limited operational activities. However, a proactive combined effort from the government and other industries is anticipated to bring the economy back on track and aid in the industrial activities returning to pre-pandemic levels.
Prothrombin complex concentrate (PCC) is manufactured after the removal of factor XI and antithrombin through a process of ion-exchange chromatography from the cryoprecipitate supernatant of large plasma pools. These concentrates are extensively used to treat and further prevent bleeding in the case of hemophilia B if a pure factor IX is not present.
An Overview of the Impact of COVID-19 on this Market :
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What does the Report Include?
The market for Australia and New Zealand prothrombin complex concentrate report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Increasing Consumption of Vitamin K Antagonists to Surge Demand
As per an article published by The National Center for Biotechnology Information (NCBI), it is anticipated that at least 1%-2% of the total population takes warfarin therapy. Owing to its affordability, warfarin is widely consumed, however, this anticoagulation agent may lead to fatal bleeding disorders due to over-dependency. Therefore, this is expected to boost the demand for advanced prothrombin complex concentrates that aid in effective treatment and prevention of bleeding disorders. Moreover, supportive government initiatives to promote awareness regarding the adoption of PCC is expected to contribute to the Australia and New Zealand prothrombin complex concentrate market growth in the forthcoming years.
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Hospitals and Ambulatory Surgical Centers to Hold Largest Market Share
Based on end-user, the hospitals and ambulatory surgical centers segment is expected to showcase considerable growth during the forecast period. This growth is ascribable to the factors such as the increasing number of invasive surgeries and the easy availability of prothrombin complex concentrates across several healthcare institutions in Australia and New Zealand.
Australia and New Zealand Generated USD 17.8 Million in terms of Revenue in 2019
The increasing number of specialty clinics and the growing number of geriatric population is expected to boost the Australia and New Zealand prothrombin complex concentrate market share in the forthcoming years.
Contract Signing by Major Companies to Intensify Industry Competition
The market for Australia and New Zealand prothrombin complex concentrate is fragmented by the presence of prominent companies focusing on signing contracts with government agencies or other companies to expand their product portfolio. Additionally, other key players are striving to maintain their presence and gain a competitive edge over their rivals by adopting several organic and inorganic strategies that will favor the market growth.
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Industry Development:
April 2018 - Sanquin announced its multi-year agreement with Abbott, a leading company in transfusion medicine. Under the agreement, the company will supply primary serological equipment and consumables that further includes Abbott’s Alinity system for blood and plasma screening.
List of the Companies Operating in the Market for Australia and New Zealand Prothrombin Complex Concentrate
- CSL Limited (Melbourne, Australia)
- Grifols, S.A. (Barcelona, Spain)
- Octapharma AG (Lachen, Switzerland)
- Kedrion S.p.A (Lucca, Italy)
- Sanquin (Amsterdam, The Netherlands)
- Takeda Pharmaceutical Company Limited (Mumbai, India)
- Other Prominent Players
Table of Contents:
Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
Executive Summary
Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
Key Insights
- Epidemiology of Coagulation Factor Deficiency in Australia and New Zealand
- Recent Industry Developments – Partnerships, Mergers & Acquisitions
- Regulatory Scenario – For Key Countries
- Analysis in Relation to Alternatives to PCC
- PCC Market: Reimbursement Scenario & Key Industry Trends
- Impact of COVID-19 on PCC Market
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SECONDARY RESEARCH IS CONDUCTED TO DERIVE THE FOLLOWING INFORMATION:
- Details such as revenues, market share, strategies, growth rate, product & their pricing by region/country for all major companies
- Details in relation to prevalence, incidence, patient numbers, distribution of patients, average price of treatment, etc.
- Number of end user facilities by region/country and average annual spending or procurement of devices by type of end user facility
- Number of procedures and average price of procedures
- Replacement rate and pricing of capital equipment
- Market dynamics in relation to the market under focus – Drivers, restraints, trends, and opportunities
- Market & technological trends, new product developments, product pipeline.
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