RnRMarketResearch.com adds “Critical Care Market to 2019 - Growth from Factor Concentrates New Indications and Increasing Demand for Albumin in Asia-Pacific” new report on its database
GBI Research estimates the overall critical care therapeutics market to have been worth $2.3 billion in 2012, having grown at a CAGR of 11% from $1.2 billion in 2006. The market is expected to grow at a CAGR of 5% during the forecast period to reach $3.2 billion in 2019. The double-digit market growth registered between 2006 and 2012 can be attributed primarily to the increasing demand for and cost of albumin, as well as the approval and launch of new products.
The growth of the overall critical care market during the forecast period is expected to be largely due to an increasing preference in the market for factor concentrates such as Riastap, Corifact, rFXIII (which has been launched in the European Union (EU) and is expected to be launched in the US later this year), expanded indications for Antithrombin (AT) III and factor concentrates, and rising demand for albumin from countries in Asia-Pacific.
Albumin Market to Remain the Leading Contributor to the Critical Care Market
With the world’s population ageing, especially in emerging markets, demand for albumin and plasma-derived products in general is expected to increase substantially during the forecast period. An ageing population is more likely to develop diseases, which is expected to generate more demand of blood derivatives. The market is expected to grow at a CAGR of 5% from $1.7 billion in 2012 to $2.4 billion in 2019. Demand showed year-on-year growth between 2006 and 2012, and this trend is expected to continue during the forecast period, due partially to increased therapeutic use and rising demand from Asia-Pacific countries, especially China. The leading players in the current albumin market are CSL, Baxter, Grifols, Octapharma, and Kedrion.
Weak Product Pipeline and Lack of Robust Clinical Data on the Use of PCC (Prothrombin complex concentrates), Factor Concentrates, and AT III Hinders Market Growth
The Research and Development (R&D) product pipeline for the critical care therapeutics market is currently weak. It comprises 13 molecules, most of which are in the early stages of development. A relatively low market value, small target population, and the lack of a large pool of patients on which to conduct clinical trials are some of the key reasons for the weakness of the product pipeline. Although most if not all approved products are used to manage bleeding in off-label indications, the lack of scientific data; and unproven safety, efficacy and cost-effectiveness are hindering use.
Stagnant innovation, a low prevalence rate and consequently limited patient availability for clinical trials are some of the major factors hindering the growth of the critical care market.
Comprehensive Table of Contents and more on the report @ http://www.rnrmarketresearch.com/critical-care-market-to-2019-growth-from-factor-concentrates-new-indications-and-increasing-demand-for-albumin-in-asia-pacific-market-report.html
GBI Research estimates the overall critical care therapeutics market to have been worth $2.3 billion in 2012, having grown at a CAGR of 11% from $1.2 billion in 2006. The market is expected to grow at a CAGR of 5% during the forecast period to reach $3.2 billion in 2019. The double-digit market growth registered between 2006 and 2012 can be attributed primarily to the increasing demand for and cost of albumin, as well as the approval and launch of new products.
The growth of the overall critical care market during the forecast period is expected to be largely due to an increasing preference in the market for factor concentrates such as Riastap, Corifact, rFXIII (which has been launched in the European Union (EU) and is expected to be launched in the US later this year), expanded indications for Antithrombin (AT) III and factor concentrates, and rising demand for albumin from countries in Asia-Pacific.
Albumin Market to Remain the Leading Contributor to the Critical Care Market
With the world’s population ageing, especially in emerging markets, demand for albumin and plasma-derived products in general is expected to increase substantially during the forecast period. An ageing population is more likely to develop diseases, which is expected to generate more demand of blood derivatives. The market is expected to grow at a CAGR of 5% from $1.7 billion in 2012 to $2.4 billion in 2019. Demand showed year-on-year growth between 2006 and 2012, and this trend is expected to continue during the forecast period, due partially to increased therapeutic use and rising demand from Asia-Pacific countries, especially China. The leading players in the current albumin market are CSL, Baxter, Grifols, Octapharma, and Kedrion.
Weak Product Pipeline and Lack of Robust Clinical Data on the Use of PCC (Prothrombin complex concentrates), Factor Concentrates, and AT III Hinders Market Growth
The Research and Development (R&D) product pipeline for the critical care therapeutics market is currently weak. It comprises 13 molecules, most of which are in the early stages of development. A relatively low market value, small target population, and the lack of a large pool of patients on which to conduct clinical trials are some of the key reasons for the weakness of the product pipeline. Although most if not all approved products are used to manage bleeding in off-label indications, the lack of scientific data; and unproven safety, efficacy and cost-effectiveness are hindering use.
Stagnant innovation, a low prevalence rate and consequently limited patient availability for clinical trials are some of the major factors hindering the growth of the critical care market.
Comprehensive Table of Contents and more on the report @ http://www.rnrmarketresearch.com/critical-care-market-to-2019-growth-from-factor-concentrates-new-indications-and-increasing-demand-for-albumin-in-asia-pacific-market-report.html