Redding, California, July 05, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Recombinant Coagulation Factors Market by Type (Factor VIII, Factor IX), Source (CHO, HEK), Application (Hemophilia (Type A, Type B), Others), and End User (Hospitals, Clinical Research Laboratories) - Global Forecast to 2030,’ published by Meticulous Research®, the recombinant coagulation factors market is projected to reach $24.21 billion by 2030, at a CAGR of 8.6% from 2023 to 2030.
Recombinant coagulation factors are glycoproteins produced by recombinant DNA technology. They are majorly used for the treatment of various coagulation disorders. They are gaining popularity due to their benefits such as reduced risk of bloodborne disease transmission and effective treatment.
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The increasing prevalence of hemophilia and other bleeding disorders, growing R&D for coagulation factors, growing awareness about the benefits of the recombinant coagulation factors and increasing prophylactic treatment for hemophilia across the globe are driving the growth of the recombinant coagulation factors market. Furthermore, the potential emerging economies and rising healthcare expenditure are expected to offer significant growth opportunities for the recombinant coagulation factors market.
However, the high cost of recombinant factors compared to plasma-derived ones and the limited accessibility and availability of recombinant clotting factors in developing & underdeveloped countries are expected to restrain the growth of this market. Additionally, manufacturing challenges in the production of recombinant clotting factors, stringent regulatory requirements, lack of reimbursement in some countries, and lack of awareness among patients are some of the challenges to the growth of this market.
Increased Prevalence of Infectious Diseases and Rising Need to Reduce Transmission of Bloodborne Disease to Drive the Growth of this Market
There is a rising prevalence of infectious diseases globally. Infectious diseases such as hepatitis B virus, hepatitis C virus and human immunodeficiency virus are highly infectious and can be transmitted through blood. Utilizing blood-derived coagulation factors carries a high risk of transmitting infectious diseases. This has created a need for safer treatment options for the treatment of various coagulation disorders. In this regard, recombinant factor VIII was first introduced in the 1980s. Recombinant coagulation factors are not derived from blood and are manufactured in the laboratory using recombinant DNA technology. This avoids the risk of transmission of bloodborne disease and facilitates safer treatment for various coagulation disorders.
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The key players profiled in this market study are Baxter International Inc. (U.S.), Grifols, S.A. (Spain), CSL Limited (Australia), Octapharma AG (Switzerland), Novo Nordisk A/S (Denmark), Biogen Inc. (U.S.), Bayer AG (Germany), Kedrion S.p.A. (Italy), Emergent BioSolutions (U.S.), and Pfizer Inc. (U.S.).
The recombinant coagulation factors market is segmented based on Type (Recombinant Factors VIII, Recombinant Factor IX, and Other Types), Source (Chinese Hamster Ovary (CHO) Cell Line, Human Embryonic Kidney (HEK) Cell Line, and Other Sources), Application (Hemophilia A, Hemophilia B, and Other Applications), End User (Hospitals & Clinics and Clinical Research Laboratories), and Geography. The study also evaluates industry competitors and analyzes their market shares at the country and regional levels. The study also provides valuable insights into the key growth strategies adopted by major market players in the last three to four years.
Based on type, in 2023, the recombinant factor VIII segment is expected to account for the largest share of the recombinant coagulation factors market. The large market share of this segment is attributed to the high prevalence of haemophilia A, the high efficacy of recombinant factors VIII, and an established market presence of recombinant factors VIII products.
Based on source, in 2023, the Chinese hamster ovary (CHO) cell line segment is expected to account for the largest share of the recombinant coagulation factors market. The large market share of this segment is attributed to the high popularity of the CHO cell lines for the production of biologics, the high similarity of the CHO cells to the human cell system, and high reproducibility.
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Based on application, the hemophilia A segment is estimated to account for the largest share of the recombinant coagulation factors market. The large market share of this segment is attributed to factors such as the increased number of patients with hemophilia A, increased awareness about advanced treatment options, and the high efficacy of recombinant coagulation factors for the treatment of hemophilia A.
Based on end user, in 2023, the hospitals & clinics segment is estimated to account for the largest share of the recombinant coagulation factors market. The large market share of this segment can be attributed to the comparatively higher adoption of recombinant coagulation factors by hospitals & clinics, rising healthcare expenditure, and growing awareness among healthcare professionals.
Based on geography, in 2023, North America is expected to account for the largest share of the recombinant coagulation factor market, followed by Europe and Asia-Pacific. The large share of this market is primarily attributed to the robust healthcare infrastructure in the region, high healthcare expenditure, technological advancements, favorable reimbursement policies, high awareness, and the presence of key market players in the region.
However, Asia-Pacific is expected to witness rapid growth during the forecast period. The rapid growth of this market is driven by the increasing hereditary disorders, the increasing investments in healthcare in developing countries such as China and India, and the growing preference for recombinant technology owing to advantages compared to traditional are driving the growth of the recombinant coagulation factors market in Asia-Pacific.
The report also includes an extensive assessment of the key growth strategies adopted by leading market players in the past three to four years. In the last couple of years, the recombinant coagulation factors market has witnessed various developments.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/recombinant-coagulation-factors-market-1254
Scope of the Report:
Recombinant Coagulation Factors Market Assessment - by Type
- Recombinant Factor VIII
- Recombinant Factor IX
- Other Types
Recombinant Coagulation Factors Market Assessment - by Source
- Chinese Hamster Ovary (CHO) Cell Line
- Human Embryonic Kidney (HEK) Cell Line
- Other Sources
Recombinant Coagulation Factors Market Assessment - by Application
- Hemophilia A
- Hemophilia B
- Other Applications
Recombinant Coagulation Factors Market Assessment - by End User
- Hospitals & Clinics
- Clinical Research Laboratories
Recombinant Coagulation Factors Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
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