The “Australia and New Zealand prothrombin complex concentrate“ market size is expected to experience considerable growth by reaching USD 40.4 million by 2027 while exhibiting a CAGR of 10.9% between 2020 and 2027. This growth is attributable to the increasing consumption of Vitamin K antagonists such as warfarin that is likely to surge the demand for advanced prothrombin complex concentrates in Australia and New Zealand. This information is published by Fortune Business Insights in its latest report, titled, “Australia and New Zealand Prothrombin Complex Concentrate Market Size, Share & Covid-19 Impact Analysis, By Product (4-factor PCC and 3-factor PCC), By Application (Acquired Coagulation Factor Deficiency and Congenital Coagulation Factor Deficiency and By End User (Hospitals & Ambulatory Surgical Centers, Specialty Clinics, and Others), 2020-2027.” The report further observes that the market stood at USD 17.8 million in 2019.
The COVID-19 pandemic has affected several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies and reduced labor force, several industries have been on a standstill with limited operational activities. However, a proactive combined effort from the government and other industries is anticipated to bring the economy back on track and aid in the industrial activities returning to pre-pandemic levels.
Prothrombin complex concentrate (PCC) is manufactured after the removal of factor XI and antithrombin through a process of ion-exchange chromatography from the cryoprecipitate supernatant of large plasma pools. These concentrates are extensively used to treat and further prevent bleeding in the case of hemophilia B if a pure factor IX is not present.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
What does the Report Include?
The market for Australia and New Zealand prothrombin complex concentrate report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
An Overview of the Impact of COVID-19 on this Market :
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Increasing Consumption of Vitamin K Antagonists to Surge Demand
As per an article published by The National Center for Biotechnology Information (NCBI), it is anticipated that at least 1%-2% of the total population takes warfarin therapy. Owing to its affordability, warfarin is widely consumed, however, this anticoagulation agent may lead to fatal bleeding disorders due to over-dependency. Therefore, this is expected to boost the demand for advanced prothrombin complex concentrates that aid in effective treatment and prevention of bleeding disorders. Moreover, supportive government initiatives to promote awareness regarding the adoption of PCC is expected to contribute to the Australia and New Zealand prothrombin complex concentrate market growth in the forthcoming years.