Thrombin Market Size, Share and Industry Analysis By Product (Bovine Thrombin, Human Thrombin, Recombinant Thrombin), By Dosage Form (Powder Form, Solution Form), By End user (Hospitals, Diagnostics Centers & Clinics, Academics and Research Institutes), and Regional Forecast, 2019 - 2032

The global thrombin market size was valued at USD 535.0 million in 2018 and is projected to reach USD 956.1 million by the end of 2032, exhibiting a CAGR of 4.3% during the forecast period (2018-2032).

According to data published by the Journal of Emergency Medical Services (JEMS), every year, an estimated 5.0 million people succumb to traumatic and non-traumatic hemorrhage, worldwide. Thrombin is a type of protein enzyme that plays a major role in hemostasis and thrombosis. Also, it activates cellular factors in platelets which enhances the process of hemostasis.

Moreover, thrombin plays a major part in wound healing and recovery process. Deep vein thrombosis, pulmonary thrombosis, and femoral vein thrombosis are commonly observed types of thrombosis across the world. Certain factors such as smoking, aging, cancer, heart failure, and sedentary life style can lead to thrombosis. Growing adoption of hemostats in excessive bleeding during surgical procedures and rising emphasis on prevention of thrombosis are prominently driving the thrombin market growth. 

"Bovine Thrombin is Most Attractive Product Type" 

The factors such as growing prevalence of inherited blood clotting disorder, obesity and rising adoption of smoking have led to growth in prevalence of thrombosis, which will eventually increase the demand for thrombin like hemostats during forecast period. Leading players in the market are focusing on serving the therapeutic thrombin products within minimal costs, most considerably bovine sourced thrombin products.

Bovine thrombin segment accounted for a thrombin market share of 51.8% in 2018. High share of the segment is attributed to greater adoption of bovine sourced thrombin products in several applications such as therapeutic, diagnostic and academic research. In terms of dosage form, solution form is likely to be the fastest growing segment for the forecast duration, owing to the proven clinical efficacy and better stability than powder form.

Regional Analysis

"North America and Asia Pacific Emerge as Lucrative Market for Thrombin" 

North America generated a value of USD 307.9 Mn in 2018, and is anticipated to emerge dominant in global market during the forecast period. The Market in the North America is driven by factors such as, strong presence of major players such as Pfizer, Inc., Ethicon (subsidiary of Johnson & Johnson Services Inc.) and others.

Moreover, aging population, rising healthcare expenditures, increasing emphasis on better patient outcomes, and lucrative reimbursement policies are driving the thrombin market growth in North America region. Asia Pacific also holds huge potential for growth of the market owing to considerable adoption of thrombin based hemostats in countries such as Japan and China.

Key Market Drivers 

"Pfizer to Account for More Than Half of the Market Share in Terms of Revenue"

Pfizer emerged as the leading player with the highest thrombin market share in 2018, as the company is engaged in offering most commonly used thrombin based hemostats called Thrombin JMI. Combined with this, the company has strong focus on reinforcing strategies for development of robust distribution network and strong penetration in market of North America.

In March 2018, Baxter completed acquisition of hemostatic portfolio from Mallinckrodt Pharmaceuticals that take account of Recothrom, the only commercial recombinant thrombin brand available in market. Some of the major companies that are present in the global thrombin industry are Pfizer Inc., Johnson & Johnson Services Inc., Baxter, Shanghai RAAS blood products co. Ltd., Japan Blood Products Organization, and Mochida Pharmaceutical Co., Ltd. 

KEY COMPANIES COVERED IN THE REPORT

• Pfizer Inc.


• Johnson & Johnson Services Inc.


• Baxter


• Shanghai RAAS blood products co. Ltd.


• Japan Blood Products Organization


• Mochida Pharmaceutical Co.


• Other prominent players

Report Overview 

Hemostats improve hemostasis by boosting the primary hemostasis process and by vitalizing fibrin formation. Thrombin hemostats are active hemostats and act by interfering with blood clotting cascade. Thrombin JMI and Recothrom are most commonly used thrombin based brands in the U.S. since a decade. Adoption of these brands in the U.S. is expected to support the growth of global thrombin market during the forecast period. 

The report provides qualitative and quantitative insights in thrombin market and detailed analysis of market size & growth rate for all possible segments in the market. The market is segmented by product type, dosage form, and end user. On the basis of product type, the  market is categorized into bovine thrombin, human thrombin, and recombinant thrombin. Based on the dosage form, the market is segmented into powder and solution form.

Various end users covered in the report are hospitals, diagnostics centers & clinics, and academics and research institutes. Geographically, the market is segmented into four major regions, which are North America, Europe, Asia Pacific, and Rest of the World. The regions are further categorized into countries. 

Along with this, the report provides an elaborative analysis of thrombin industry dynamics and competitive landscape. Various key insights provided in the report are key brand analysis, key industry developments - mergers, acquisitions and partnerships, reimbursement scenario, and key performance indicators for the thrombin market.

SEGMENTATION

Key Industry Developments

• In Dec 2007, Baxter announced FDA approval of GELFOAM(R) Plus hemostasis kit; GELFOAM Plus is the first available hemostasis kit that contains Pfizer's GELFOAM(R) brand plus Baxter's Thrombin (Human) for use in controlling bleeding during surgical procedures.


• In Mar 2018, Baxter completed the acquisition of Recothrom and Preveleak to broaden surgical hemostat and sealant portfolio