Australia and New Zealand Prothrombin Complex Concentrate Market Worth USD 40.4 Million at 10.9% CAGR by 2027 Owing to Rising Geriatric Population
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.
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.
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COVID-19 can affect
the global economy in three main ways: by directly affecting production and
demand, by creating supply chain and market disruption, and by its financial
impact on firms and financial markets. The outbreak of COVID-19 has brought
effects on many aspects, like flight cancellations travel bans and quarantines
restaurants closed all indoor events restricted over forty countries state of
emergency declared massive slowing of the IT Spending market volatility falling
business confidence, growing panic among the population, and uncertainty about
future.
Out research methodology is robust and includes data triangulation
based on bottom-up and top-down approaches. We validated the approximate market
number with the help of primary research. Secondary research was conducted to
find out detailed information about mergers & acquisitions, collaborations,
joint ventures, and agreements. At the same time, we have derived significant
information about the market dynamics associated with growth drivers, trends,
and obstacles.
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.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill.
We understand that this health crisis has brought an unprecedented impact on
businesses across industries. However, this too shall pass. Rising support from
governments and several companies can help in the fight against this highly
contagious disease. There are some industries that are struggling and some are
thriving. Overall, almost every sector is anticipated to be impacted by the
pandemic.
We are taking continuous efforts to help your business sustain and
grow during COVID-19 pandemics. Based on our experience and expertise, we will
offer you an impact analysis of corona virus outbreak across industries to help
you prepare for the future.
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of COVID-19 on this Market.
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DRIVING FACTORS
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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SEGMENTATION
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.
COUNTRY INSIGHTS
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.
COMPETITIVE LANDSCAPE
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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