Global Blood Clotting Factor Market – Industry Trends and Forecast to 2030

Global Blood Clotting Factor Market, By Product (Clinical Laboratory Analysers and Point-Of-Care Testing Analysers), Test (Prothrombin Time Testing, Fibrinogen Testing, Activated Partial Thromboplastin Time Testing , Activated Clotting Time Testing , D-Dimer Testing, Platelet Function Tests , Anti-Factor Xa Tests, Heparin and Protamine Dose Response Tests for ACT and Others), Technology (Mechanical Technology, Optical Technology, Electrochemical Technology and Others), Application (Bleeding Disorders, Acquired Bleeding Disorders, Von Willebrand Disease and Haemophilia), End User (Academic Institutions, Hospitals, Diagnostic Laboratories and Others) – Industry Trends and Forecast to 2030.

Blood Clotting Factor Market Analysis and Size

Rising prevalence of strokes, surge in the research and development activities for the development of novel drugs and therapies and increased expenditure for the development of healthcare infrastructure are the major factors attributable to the growth of global blood clotting factor market. Growing prevalence of road accidents is a major factor fostering the growth of the market. Rising expenditure on the development of healthcare infrastructure and upsurge in the incidences of cardiovascular diseases and blood disorders are other factors also fostering the growth of the market. Increasing personal disposable income and growing demand for laboratory automation are some other indirect determinants that will create lucrative market growth opportunities.

Data Bridge Market Research analyses that the global blood clotting factor market which was USD 5,687.25 million in 2022, is expected to reach USD 9,4578.36 million by 2030, and is expected to undergo a CAGR of 8.70% during the forecast period of 2023 to 2030. “Clinical Laboratory Analysers” dominates the product segment of the global blood clotting factor market owing to the high demand of this type of analysers. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Blood Clotting Factor Market Scope and Segmentation

Market Definition

Blood clotting factors are proteins present in the blood that play a crucial role in the process of blood coagulation or clotting. These factors work together to form a blood clot, which helps to stop bleeding and promote wound healing. There are several blood clotting factors, numbered from I to XIII, that are involved in a complex cascade of reactions. These blood clotting factors work in a coordinated manner to ensure proper blood clot formation and prevent excessive bleeding. Any deficiencies or abnormalities in these factors can lead to bleeding disorders or clotting disorders.

Global Blood Clotting Factor Market Dynamics

Drivers

• The Increasing Prevalence of Bleeding Disorders

The rising incidence of bleeding disorders such as hemophilia and von willebrand disease is a significant driver for the global blood clotting factors market. These conditions require regular administration of clotting factors to prevent excessive bleeding and manage the symptoms. Increased awareness about bleeding disorders and advancements in diagnostic techniques have led to improved identification and diagnosis of these conditions. This has resulted in a higher demand for blood clotting factors as more patients are being diagnosed and treated.

• Research and Development Proficiencies

Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the pharmaceutical drugs and various diagnosis methods will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the integration of advanced technologies in the healthcare facilities is also bolstering the market growth rate.

• Growing Investment for Healthcare Facilities

Surging focus towards improving the condition of healthcare facilities and improving the overall healthcare infrastructure another important factor fostering the growth of the market. Rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.  

Opportunities

• Expansion of the Pharmaceutical Industry

The pharmaceuticals industry is experiencing growth due to various factors, including advancements in device development, increasing investments in research and development, and expanding healthcare infrastructure. This growth directly impacts the global blood clotting factor market.

• Government Investments on Healthcare Infrastructure

The increase in the funding by the federal government is set to drive the market growth rate. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative market growth opportunities. Also, high return on investments assured by the research activities will also work in the favor of the market.

Restraints/Challenges

• Rising Competition

The global blood clotting factor market is highly competitive, with numerous companies offering a wide range of products. This can make it challenging for new entrants or smaller companies to gain market share and establish a strong presence.

• High Cost associated with Drug Development and Distribution

The cost of drug development and its distribution is very high in the market. Healthcare systems and payers face cost pressures, and there is a growing demand for cost-effective solutions. Manufacturers need to balance the development of innovative implants with affordability to meet market demands.

This global blood clotting factor market  report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global blood clotting factor market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In May 2021, Octapharma announced the completion of patient enrollment for a Phase 3 clinical trial evaluating the safety and efficacy of its investigational recombinant von Willebrand factor (rVWF) for the treatment of von Willebrand disease
• In March 2021, CSL Behring received approval from the U.S. Food and Drug Administration (FDA) for its IDELVION® Coagulation Factor IX (Recombinant), Albumin Fusion Protein for the treatment of hemophilia B in pediatric patients

Global Blood Clotting Factor Market Scope

The global blood clotting factor market is segmented on the basis of product, test, technology, application, and end user. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Clinical Laboratory Analysers
• Consumables
• Systems
• Automated Systems
• Semi-Automated Systems
• Manual Systems
• Point-Of-Care Testing Analysers

Test

• Prothrombin Time Testing
• Fibrinogen Testing
• Activated Partial Thromboplastin Time Testing
• Activated Clotting Time Testing
• D-Dimer Testing
• Platelet Function Tests
• Anti-Factor Xa Tests
• Heparin and Protamine Dose Response Tests for ACT
• Others

Technology

• Mechanical Technology
• Optical Technology
• Electrochemical Technology
• Others

Application

• Bleeding Disorders
• Acquired Bleeding Disorders
• Von Willebrand Disease
• Haemophilia

End User

• Academic Institutions
• Hospitals
• Diagnostic Laboratories
• Others

Global Blood Clotting Factor Market Regional Analysis/Insights

The global blood clotting factor market is analysed and market size insights and trends are provided by country, product, test, technology, application and end user as referenced above.

The countries covered in the global blood clotting factor market  report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the global blood clotting factor market because of the strong base of healthcare facilities, strong presence of major players in the market, and rising number of research activities in this region.   

Asia-Pacific is expected to witness significant growth in the global blood clotting factor market during the forecast period of 2023 to 2030 due to the increase in government initiatives to promote awareness, rise in healthcare facilities, growing research activities in the region, availability of massive untapped markets, large population pool, and the growing demand for quality healthcare in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The global blood clotting factor market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for global blood clotting factor market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global blood clotting factor market. The data is available for historic period 2015-2020.

Competitive Landscape and Global Blood Clotting Factor Market Share Analysis

The global blood clotting factor market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global blood clotting factor market.

Some of the major players operating in the global blood clotting factor market are:

• CSL Behring (Australia)
• Shire (Ireland)
• Novo Nordisk (Denmark)
• Grifols  (Spain)
• Octapharma (Switzerland)
• Pfizer Inc. (U.S.)
• Ferring Pharmaceuticals (Switzerland)
• Kedrion Biopharma (Italy)
• Bayer AG (Germany)
• BioMarin Pharmaceutical (U.S.)
• Sanquin  (Netherlands),
• LFB Group (France)
• Bio Products Laboratory  (U.K.)
• Hualan Biological Engineering (China)
• GC Pharma (South Korea)