Antithrombin Market to Reach US$ 725.2 Mn, Therapeutics Segment to Lead Market Forecast till 2026
Pune, India -- (SBWIRE) -- 06/14/2019 -- Rising demand for Therapeutics segment is prognosticated to emerge dominant among various applications in the global Antithrombin Market, finds Fortune Business Insights in a new study. The study is titled "Antithrombin Market: Global Market Analysis, Insights, and Forecasts, 2018 – 2026." According to the study, the global antithrombin market will exhibit a steady CAGR of 4.1% to reach a value of US$ 725.2 Mn by 2026 from US$ 490.4 Mn in 2018.
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According to the U.S. Department of Health and Human services in 2018, antithrombin deficiency is likely to occur about 1 in every 2000 person globally. The fact that antithrombin combines with heparin and can be used for treating congenital antithrombin III deficiency is expected to boost the market in the long run.
Increasing Prevalence of Hereditary Antithrombin Deficiency to Boost Market
The rising prevalence of medical conditions such as sepsis, hereditary antithrombin deficiency, disseminated intravascular coagulation (DIC), and extracorporeal membrane oxygenation (ECMO) is creating lucrative growth opportunities for the antithrombin market. Among various application types, the therapeutics segment is anticipated to lead the market with a rising number of antithrombin deficiency cases. In 2018, the therapeutics segment accounted for about 95.7% market share and is likely to continue its dominance in the future as Fortune Business Insights analysts say.
However, the high treatment cost of antithrombin may cause end users to opt for cheaper alternatives or supplements. This may hamper the market globally. Again, the developing countries of Asia Pacific may directly opt out of adopting antithrombin treatment because of the high price of this treatment. This may pose a challenge for market players to generate revenue from this region, thus, hampering the overall profit percentage of the market.
The Asia Pacific to Emerge as the Fastest Growing Region, with Rising Disposable Incomes
Geographically, the Global Antithrombin Market is anticipated to be showing the fastest growth in the Asia Pacific. In 2018, the antithrombin market earned about US$ 179.7 Mn from the Asia Pacific alone. A major reason behind this growth is the fact that developing nations such as India and China are adopting new treatment procedures and techniques to fight back various diseases. The rise in disposable incomes of people in developing nations and their increasing ability to spend more on healthcare and medical aid will create lucrative growth opportunities for the market in the Asia Pacific.
Again, Europe is expected to have huge potential for growth for antithrombin market during the forecast period. This is because countries such as the UK, Germany, France, and others are considerably adopting human antithrombin based products on a large scale.
The global antithrombin market is expected to be dominated by three major companies namely SCL Behring, Grifols, and the Shire. In 2018, these three companies together accounted for the highest market share among others. They offer the most commonly used human antithrombin based anticoagulants. Besides, they also have a strong distribution network that makes them have the lion's share.
Other players are focusing on launching cheaper antithrombin products in order to be in the competition. They are also investing huge sums for research and development activities in order to develop new products. Some other companies are entering into collaborations with other companies in order to stay in the competition. Other companies operating in the global antithrombin market are Scripps Laboratories Inc., Octapharma AG, CSL Limited, Grifols, Lee Biosolutions, Kedrion S.p.A., Shire Plc., and LFB USA.
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