Blood coagulant aids in improving the coagulation process of blood in order to stop bleeding and fastening the healing process. According to the report that has been published by Market Research Future (MRFR), the Middle East and Africa blood coagulants market is anticipated to project noteworthy expansion at a robust CAGR of 9.5% during the forecast period of 2017-2023
Market Drivers and Restraints:
Increasing prevalence of bleeding disorders caused by diseases such as hemophilia which leads to defect in blood coagulation is inducing demand for blood coagulants in the market in the Middle East and Africa region. The beneficial properties of blood coagulant drugs or anti-inhibitor coagulant complexes to help regulate blood coagulation for patients suffering from bleeding disorders are fueling the growth of the Middle East and Africa blood coagulants market.
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Rise in incidences of major injuries caused due to accidents leading to uncontrollable bleeding and increasing demand for blood thickening medications are likely to propel the growth of the blood coagulants market in the Middle East and Africa region during the forecast period. However, lack of primary health care services, poor healthcare infrastructure and lack of awareness in the underdeveloped areas are acting as major restraints on the growth of the Middle East and Africa blood coagulation market during the forecast period.
Market Segmentation:
The Middle East and Africa blood coagulants market is segmented on the basis of types, indications, and by country. Based on types, the blood coagulants market is segmented into coagulation factor and others. Coagulation factor segment is sub-segmented into recombinant coagulation factor, plasma coagulation factor, and others.
Based on indication, the blood coagulants market is segmented into hemophilia, surgery, other bleeding disorders, and others. Hemophilia segment is sub-segmented into hemophilia A and hemophilia B.
Regional Analysis:
The Middle East and Africa blood coagulants market is geographically segmented into few major countries such as Saudi Arabia (KSA), United Arab Emirates (UAE), Qatar, Oman, Kuwait, Egypt, and the rest of the Middle East and Africa.
Saudi Arabia accounts for the largest share in the Middle East and Africa blood coagulant market. The high prevalence of hemophilia, increasing usage of expensive recombinant coagulation factors and high disposable income of the population, are some of the major factors that are driving the growth of the blood coagulant market in this country. Whereas, United Arab Emirates (UAE) is projecting fastest growth in the Middle East and Africa blood coagulants market.
Increasing healthcare expenditure and research and development in the field of anti-inhibitor coagulant complexes are leading to the expansion of the blood coagulants market in the Middle East and Africa region.
Competitive Landscape:
Increasing demand for high-quality blood coagulants in the market has led to the introduction of innovative products by the players in the Middle East and Africa blood coagulants market. The players are focusing on business expansion by increasing their research and development expenditure and strategizing mergers and acquisitions for establishing their products not on in the Middle East and Africa region but also on a global level.
In February 2018, it was announced that an Israeli-developed bandage named WoundClot, a plant-based gauze that stops blood loss within seconds by stimulating body’s coagulation process, will be sold globally.
The prominent players that are profiled in the report on the Middle East and Africa market by MRFR are Pfizer Inc. (the U.S.), Bayer AG (Germany), Novo Nordisk AS (Denmark), Shire (Republic of Ireland), SOBI (Sweden), Octapharma (Switzerland), and CSL Limited (Australia).
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