Thrombin Market Size (2024 - 2029)

Thrombin Market Analysis

The Thrombin Market is expected to register a CAGR of 5% during the forecast period.

The market is expected to grow over the coming years due to the increasing demand for thrombin surgeries and the surge in blood clotting diseases. The major factor contributing to this growth is the rise in trauma cases, accidents, surgeries, and the usage of thrombin in clotting blood. As per the United States Department of Transportation’s data released in November 2023, 29,429 cases were seriously injured (KSI) casualties, and 133,443 comprised casualties of all severities in the United Kingdom in 2022. Thus, a high number of accidental injuries is expected to increase demand for thrombin to prevent blood loss, thereby boosting market growth.

Further, according to a CDC report published in 2023, approximately 39.5 million personal injury cases require medical treatment in the United States every year, which is roughly 126.3 cases per 1,000. Moreover, as per updates from Nationwide Personal Injury Statistics in November 2023, somewhere between 300,000 and 500,000 personal injury cases occur annually in the United States. Thus, the high burden of injuries is expected to increase the demand for thrombin to prevent blood loss, which is likely to boost market growth.

Moreover, product approvals and subsequent launches are expected to drive the market studied over the forecast period. For instance, in February 2022, CTI BioPharma Corp. received approval from the United States Food and Drug Administration (FDA) for VONJO (dacomitinib) to treat adults with intermediate or high-risk primary or secondary myelofibrosis, including post-polycythemia vera or post-essential thrombocythemia.

Thus, the growing number of accidental injuries and the launch of thrombin products into the market are expected to boost the market studied over the forecast period. However, market growth is likely to be impeded by strict regulatory guidelines.

Thrombin Industry Segmentation

As per the scope of the report, thrombin is a serine protease blood plasma protein that converts fibrinogen into soluble fibrin to catalyze the blood coagulation process.

The thrombin market is segmented by product, dosage form, end user, and geography. By product, the market is segmented into bovine thrombin, human thrombin, and recombinant thrombin. By dosage form, the market is segmented into powder form and solution form. By end user, the market is segmented into hospitals, diagnostics centers & clinics, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report offers the market sizes and forecasts in value terms (USD) for the above segments. The report also covers the estimated market sizes and trends for 17 countries across major regions globally.