Market Size of Thrombin Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Thrombin Market Analysis
The thrombin market is projected to register a CAGR of 4.3% over the forecast period.
- COVID-19 significantly impacted the thrombin market. The global lockdown resulted in a decrease in accidents and fewer surgical cases, with some elective surgeries being postponed due to the pandemic. However, studies have shown that COVID-19 patients are more prone to coagulation problems, such as coronary embolism and venous thromboembolism, which can lead to more vascular complications and increase the demand for thrombin treatment.
- In the coming years, the market is expected to witness growth due to the increasing demand for thrombin surgeries and the surge in blood clotting diseases. The major factor attributing to this growth is the rise in trauma cases, accidents, surgeries, and the usage of thrombin in clotting blood. The United States Department of Transportation's National Highway Traffic Safety Administration reported an increase in traffic fatalities by 18.4% from the previous year, which is expected to boost market growth due to the increasing incidences of road accidents.
- Furthermore, inherited blood clotting disorders such as hemophilia and Von Willebrand Disease are expected to contribute to market growth. The World Federation of Hemophilia reported a significant prevalence of hemophilia globally, with more than 200,000 people diagnosed with the disease. As the number of patients increases, the demand for thrombin therapy grows, which is expected to further drive market growth.
- However, the market growth is likely to be impeded by strict regulatory guidelines. Despite this, the market is anticipated to witness growth over the forecast period due to the increasing demand for thrombin therapy.
