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As per the latest report published by Market Research Future (MRFR), the Middle East & Africa (MEA) blood coagulants market is set to surge at a strong CAGR of 9.5% during the projected period (2017-2023). In addition, the market is anticipated to reach a valuation of more than 140 Mn towards 2023. Abnormal blood coagulation can have severe health impacts if not attended promptly. The condition literary means change of blood from liquid to gel, which subsequently causes blood clot.
The market for blood coagulation treatment in the MEA has been growing at a rampant pace. Driven by high prevalence of blood disorders and increased healthcare funding in several Middle Eastern countries, the market is likely to find significant growth opportunities in the coming years. Factors such as increased level of awareness about bleeding disorder, improving reimbursement programs and introduction of favorable policies for the healthcare sector in the region is expected to support the growth of the market.
Global Blood Coagulants Market: Competitive Landscape
Key players profiled in the global blood coagulants market include Novo Nordisk AS (Dernmark), Bayer AG (Germany), Octapharma (Switzerland), Shire (Republic of Ireland), CSL Limited (Australia), Pfizer Inc. (U.S.), and SOBI (Sweden).
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Major transformations have taken place in the healthcare sector present in MEA, with GCC countries such UAE, Qatar, Saudi Arabia at the forefront. Significant amount of investments has been made in recent years to improve the healthcare services across the region. This is partly supporting the growth of the blood coagulants market in the region. Moreover, factors such as higher penetration of healthcare services, increased healthcare expenditure and availability of advanced healthcare support are also propelling the market forward. Nevertheless, there are certain barriers that limit the market to reach its full potential. Extensive reliance on foreign-based healthcare services, poor R&D landscape in the domestic pharmaceutical industry and influx of counterfeit drugs pose major challenges to the market. At the same time, the development in the region is unequal from county to country and even city to city, which creates a contrasting market reflection.
The report includes a comprehensive segmental analysis of the market based on indication, type and country. Based on indication, the market has been segmented into other bleeding disorders, haemophilia, surgery and other. The haemophilia segment is further sub-segment into haemophilia B and haemophilia A. The haemophilia segment is expected to remain highly attractive throughout the assessment period. Currently, the segment accounts for close 46% share of the market in terms of value. In the year 2016, the segment surpassed a market valuation of USD 30 Mn. By type, the market has been segmented into coagulation factor and others. The coagulation factor segment is further sub-segment into plasma coagulation factor, recombinant coagulation factor and others.
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The market for blood coagulation in the Middle East & Africa has been covered across Qatar, Saudi Arabia (KSA), Kuwait, United Arab Emirates (UAE), Egypt, Oman, and Rest of MEA. Among these, the market in Saudi Arabia is likely to exhibit a relatively higher growth during the forecast period. The country accounted for the lion's share of the market in 2016. This is primarily owing to the existence of a large patient pool along with the accessibility to an adequate healthcare system. Furthermore, factors such as rising incidences of
haemophilia and widespread availability of blockbuster drugs are proving an impetus to the market in the country. The country is also witnessing an improvement in standard of living owing rising per capita income, which also favours the pharmaceutical sector present in Saudi Arabia. Meanwhile, the market in UAE is also projected to post a strong growth over the next couple years, capturing 10.1?GR between 2017 and 2023.
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