Alpha-2 Antiplasmin Market size was valued at $ 267.85M by 2019 and is anticipated to grow at a CAGR of 9.35% during the forecast period 2020-2025. The Alpha-2 Antiplasmin Market growth rate is attributed to the growing cost-containment pressures in major industrialized nations and continued technological advances with radically changing Coagulation testing practice presents a significant opportunity in the growth of the Alpha-2 Antiplasmin market in the forecast period of 2020-2025. The antiplasmin or plasmin inhibitor alpha-2 is a type of glycoprotein that is synthesized by the body’s liver, kidneys and other tissues. It is a serine protease inhibitor that belongs to the superfamily of Serpin, which functions as the main serine protease plasmin inhibitor. Fibrinolysis occurs due to plasminogen activator conversion from plasminogen to serine protease plasmin. Alpha 2 antiplasmine deficiency induces a bleeding condition due to a rise in fibrinolysis.
Thus, increasing healthcare industry coupled with growing number of metabolic syndrome and various other cardiovascular diseases has led to increase in the demand for Alpha-2 Antiplasmin, thus driving the global Alpha-2 Antiplasmin market in the near future. In addition to this, the advancement in coagulation testing practices is anticipated to drive the global Alpha-2 Antiplasmin market over the forecast period 2020-2025. However, need for highly sophisticated instruments along with stringent regulations are anticipated to restrain the global Alpha-2 Antiplasmin market in the near future.
Alpha-2 Antiplasmin Market Segment Analysis – By End-Use
On the basis of end-use, hospitals segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 5.75%. The reason behind robust growth is being attributed to the continuing contraction of the hospital system and technological advances is to facilitate decentralization of the Alpha-2 Antiplasmin testing closer to the patient, creating additional opportunities for suppliers. This protein is used by the aforementioned end user in patients with alpha-2 antiplasmin or plasmin inhibitor deficiency, especially in patients who have reported severe internal bleeding episodes following minor trauma and joint bleeding.
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Alpha-2 Antiplasmin Market Segment Analysis – By Geography
North America dominated the Alpha-2 Antiplasmin Market with a share of 36.5% in 2019. The application of Alpha-2 Antiplasmin has grown rapidly over the last few years owing to the spike in metabolic syndrome cases. Furthermore, excess levels of Alpha-2 anti-plasmin have been shown to be associated with metabolic syndrome and other cardiovascular diseases, thereby driving the market’s growth in the region. Alpha-2 antiplasmin protein deficiency causes atherosclerotic plaque to develop, resulting in multiple heart disorders. About 35 percent of adults in the U.S. suffer from metabolic syndrome, according to the American Heart Association.
Apart from this, the Europe and Asia-Pacific regions are anticipated to witness increased market traction owing to increased incidence rate of cardiovascular diseases.
Alpha-2 Antiplasmin Market Drivers
Growing Metabolic Syndrome
Presently, significant driving force for the growth of the global Alpha-2 Antiplasmin market over the forecast period 2020-2025 is anticipated to be the growing healthcare industry. Rising numbers of metabolic syndromes and other cardiovascular disorders have contributed to a rise in demand for Alpha-2 Antiplasmin in the near future, thereby driving the global market for Alpha-2 Antiplasmin. In addition to this, the Advancement in coagulation testing practices is anticipated to drive the global Alpha-2 Antiplasmin market over the forecast period. Increasing consumption of computerized instrumentation is also projected to augment the global Alpha-2 Antiplasmin market over the forecast period 2020-2025.
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Alpha-2 Antiplasmin Market Challenges
Stringent Regulatory Polices
Market growth is poised to be hampered by high development costs, need of highly sophisticated instruments and stringent regulatory policies, in the above mentioned forecast period 2020-2025.
Alpha-2 Antiplasmin Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Alpha-2 Antiplasmin Market. In 2019, Alpha-2 Antiplasmin Market share is fragmented by the top ten players present in the market. Alpha-2 Antiplasmin Market top 10 companies are Abbott Laboratories, Axis-Shield plc., Bio/Data Corporation, Becton Dickinson, Corgenix Medical Corporation, Helena Laboratories, Instrumentation Laboratory, Roche, Sysmex Corporation and Thermo Fisher Scientific and others.
North America dominated the Alpha-2 Antiplasmin Market with a share of 36.5% in the year 2019.
The factors such as growing cost-containment pressures in major industrialized nations and continued technological advances with radically changing coagulation testing practice are amongst the major factor projected to impel growth of Alpha-2 Antiplasmin Market.
Increasing healthcare industry coupled with growing number of metabolic syndrome and various other cardiovascular diseases are the key factors owing to the growth in the segment during forecast period 2020-2025.
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