Global Blood Clotting Accelerant
Market- Impact of COVID-19
An unprecedented outbreak of the
COVID-19 (coronavirus) has impacted Blood
Clotting Accelerants Market negatively. As coronavirus spread in New York
in late March, doctors of Mount Sinai Hospital noticed something strange
happening to patient’s blood. Doctors from different specialties observed Signs
of blood thickening and clotting were being detected in different organs in
patient. Thus, use of blood clotting accelerants may lead to dangerous
situation during this pandemic period, as thrombosis, blood cancer, and
pulmonary embolism patients are at high risk of being affected by COVID-19
infection. In such cases, further administration of blood clot accelerants in
patients may lead to patient fatalities. This factor is resulting in declining
demand for blood clot accelerants during this pandemic situation.
Blood clot accelerants are used
to improve the process of blood clotting with a shorter period of time than
normal required time in an individual. The use of blood clotting accelerants is
increasing due to higher prevalence of conditions such as anemia, hemophilia,
deep vein thrombosis, pulmonary embolism, and genetic blood deficiencies, which
affect normal coagulation process. According to the Centers for Disease Control
and Prevention (CDC), from 1998 to 2014, the precise number of people affected
by deep vein thrombosis (DVT)/ pulmonary embolism(PE) is unknown, however,
around 900,000 people could be affected (1 to 2 per 1,000) each year in the
U.S. Blood clot accelerants are available in two types, crystalline blood clot
accelerants and aqueous blood clot accelerants, whereas crystalline blood clot
accelerants are more effective over aqueous blood clot accelerants due to its
longer shelf life period.
Global Blood Clotting Accelerant
Market- Drivers
The rising prevalence of
hemophilia, thrombosis, pulmonary embolism, and deep vein thrombosis is
resulting in increasing burden of blood clot conditions in the world. Blood
clotting accelerant is an effective treatment for hemophilia and thrombosis
blood clot conditions and also in surgical procedures. Thus, pharmaceutical
companies across the world are focusing on research and development, to expect
growth and make profit in the global blood clotting accelerant market. For
instance, in July 2020, Precision Biologic Inc, a leading developer of blood
clot accelerant products, announced the launch of CYROCHECK chromogenic factor
VIII assay in the U.S. It will be used by clinical labs for determination of
factor VIII in human plasma in case of hemophilia A.
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Global Blood Clotting Accelerant
Market- Restraints
Special precautions are to be
taken for storage of blood clot accelerant products, as it is important to
store them in specific temperature. The primary drawback in blood clotting
accelerant market is that, blood clotting agents are mainly composed of blood
coagulant factors, which decrease the coagulation time. These coagulant factors
are at a high risk of causing impurity in blood clotting accelerators.
Moreover, in case of clinical practices/ hospitality practices handling of
blood clotting agents is very difficult and very small mistake in handling may
lead to severe condition in patients. These factors are expected to restrain
the global blood clotting accelerant market growth.
Global Blood Clotting Accelerant
Market- Regional Analysis
On the basis of region, the
global blood clotting accelerant market is segmented into North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa. North America blood
clotting accelerant market is expected to hold dominant position in the market
and exhibit high growth due to pharmaceutical companies accompanied with
research and development. For instance, in 2019, Baxter International Inc
announced that it received the U.S. Food and Drug Administration (FDA) approval
for faster preparation of its leading hemostatic product, Floseal Hemostatic
Matrix, which helps to stop bleeding 96% of the time within 10 minutes during
surgical procedures.
Moreover, Europe blood clotting
accelerant market is expected to witness significant growth in the market due
to increasing prevalence of blood related diseases such as thrombosis, blood
cancer, and pulmonary embolism. Moreover, various initiatives taken by
pharmaceutical companies is expected to support growth of the blood clotting
accelerant market. For instance, in June 2020, Kedrion Biopharma supported ‘WFH
Virtual Summit 2020’ the summit had presence of international experts present
to discuss on opportunity on most current and relevant topic in field of
coagulation disorders, including the challenges faced by pharmaceutical companies
in COVID-19 pandemic.
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Global Blood Clotting Accelerant
Market- Competitive Landscape
Key players operating in global
blood clotting accelerant market include Baxter International Inc, PeproTech
Inc, and Kedrion SpA. Kedrion S.P.A, Octapharma AG, Novo Nordisk A/S, Sekisui
Chemical CO. LTD, CSL Limited, Greiner Bio-One AG, Grifols International SA,
and ACROBiosystems.
Key Developments-
In 2019, Grifols, S.A. and
Johnson & Johnson announced that it received approval from the U.S. Food Drug
and Administration to market VISTASEAL. Vistaseal is a fibrin sealant used to
manage surgical bleeding.
In 2019, Octapharma AG, announced
that the human fibrinogen concentrate FIBRYGA received approval for use in
treatment of acquired fibrinogen deficiency (AFD) in 15 European countries
In 2017, Ethicon, a subsidiary of
Johnson & Johnson, announced that it received approval from the U.S. Food
Drug and Administration (FDA) Surgicel powder adsorbate hemostat. Surgicel
powder is used in surgical procedures to control the flow of blood.
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