The capability of our body cells to cease blood loss following a vascular injury by forming blood clot is vital to sustain health. Coagulation or clotting is the process of converting the liquid blood into a gel like clot to cease bleeding. A number of coagulation or clotting factors are involved in the route that leads to the physiological procedure called hemostasis. Hemostasis is the mechanism of clotting involving activation, adhesion, and aggregation of platelets mediated by a number of clotting factors eventually leading to repairing of the injured tissue. Any problem or absence of any of these factors can potentially lead to a rare but serious blood clotting disease and excessive bleeding. Some of the major coagulation factor disorders are the hemophilias and Von Willebrand disease.
The global blood coagulation factor market is anticipated to grow at a rapid pace owing to a multitude of factors. Blood coagulation factors falls under the infusible hemostats category. Developments in hemostasis technology has led to improvement of wide range of products that have enabled clinicians to provide proper emergency assistance to hemophilia patients. Factor VIII is a vital blood clotting protein in the human body. Its deficiency caused by a genetic defect results in a bleeding disorder called hemophilia A. Factor VIII concentrates are obtained from human plasma or via recombinant DNA technology to treat patients with hemophilia A.
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These factor therapies are infused intravenously through a vein in the arm or a port in the chest. Increase in the global trauma and accident cases is another driver of the blood coagulation factor market. Growth in the diagnosis rate of blood clotting diseases such as hemophilia and Von Willebrand disease is also expected to drive the global blood coagulation factor market during the forecast period. According to the data by published The Centers for Disease Control and Prevention (CDC), the incidence rate of hemophilia in the U. S. is 1 in every 5,000 male births. Von Willebrand disease (VWD), another bleeding disorder, is the most commonly occurring blood disorder that affects 1% of the population of the U.S. 1 in every 100 (almost 3.2 million) people in the U.S. is suffering from Von Willebrand disease (VWD). Huge number of patients with bleeding disorders increase the need for blood coagulation factor. Factor concentrates offer the most promising treatment results in these diseases. However, stringent regulatory policies and shortage in plasma supply can hamper the market growth during the forecast period.
In terms of geography, the global blood coagulation factor market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to remain the dominant markets for blood coagulation factor market due to the high yield of plasma products, advancements in technology, and increasing number of patients with blood disorders. Asia Pacific is expected to expand at a high CAGR owing to the strong economic growth, increase in the disposable income, rise in the health care infrastructure, and growing investments by market players in this region. India has the highest number of hemophilia patients in the worlds. According to the Indian Genetic Disorder Database, there were an estimated 55,000 hemophilia patients in India in 2015, of these 60% to 70% remain undetected. Moreover, the birth rate hemophilia in India is 32 per 1,000 births. Huge number of patients with bleeding disorders in the country is expected to offer large opportunities in the blood coagulation factor market in India.
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Key players operating in the global blood coagulation factor market include Baxter International Inc, CSL Ltd., Inc., Grifols International SA, Kedrion S.P.A., Novo Nordisk A/S, and Octapharma AG.