Upsurge in adoption of plasma derivative-based therapy have driven the growth of the market for blood plasma derivatives in the recent years.
PORTLAND, OR, UNITED STATES, October 12, 2021 /EINPresswire.com/ — UPDATE AVAILABLE ON-DEMAND (Blood Plasma Derivatives Market to Set New Growth Cycle)
Blood plasma is clear liquid component of blood in which red blood cells, white blood cells, and platelets are suspended. It plays a vital role in maintaining proper pH balance in the body and transporting nutrients throughout the body. It is composed of more than 100 different proteins, including albumin, fibrinogen, immunoglobulins, protease inhibitors, and clotting factors. Plasma derivatives are products that are derived from blood plasma on fractionation, and are widely used to treat variety of diseases.
The global blood plasma derivatives market held $25.98 billion in 2017 and is estimated to garner $44.33 billion by 2023, growing at a CAGR of 9.3% from 2017 to 2023. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
• There has been cancellation of Blood plasma drives amid lockdown and implementation of social distancing rules has decreased the number of blood donors across the globe.
• Governments have been appealing patients recovered from the Covid-19 to donate their plasma for infected patients.The report offers a detailed segmentation of the global blood plasma derivatives market based on type, application, end-user,and region.
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Plasma derivatives are products that are derived from blood plasma on fractionation, and are widely used to treat variety of diseases. These derivatives include albumin, factor VIII & IX, anti-inhibitor coagulation complex (AICC), immunoglobulins, including Rh immune globulin, alpha 1-proteinase inhibitor concentrate, and anti-thrombin III concentrate.
The factors that drive the growth of the blood plasma derivatives market include increase in prevalence of life-threatening diseases such as immunodeficiency diseases and hemophilia, rise in awareness towards blood & plasma donation, upsurge in geriatric population, and growth in adoption of blood plasma derivatives products. However, high cost of plasma derivative-based treatment and risk of side effects associated after using plasma derivatives impede the market growth. Conversely, the development of superior methods for preservation of plasma derivatives along with advanced processes for fractionation and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.
The global blood plasma derivatives market is segmented based on type, application, end user, and region.
Base on type, the market is segmented into albumin, factor VIII, factor IX, immunoglobulin, hyperimmune globulin, and others. Immunoglobulin segment accounted for the largest market share in 2016, and is expected to continue this trend throughout the forecast period. On the other hand, albumin segment is anticipated to grow at a significant CAGR of 9.4% during the forecast period.
Base on application, the market is categorized into hemophilia, hypogammaglobulinemia, immunodeficiency diseases, von Willebrand's Disease (vWD), and other applications. Immunodeficiency diseases segment accounted for the largest market share in 2016, whereas hemophilia segment is expected to register the highest growth rate during the forecast period.
Base on end user, the market is fragmented into hospitals, clinics, and other end users. Hospitals held the largest share of the market in 2016, whereas clinics segment is expected to register the highest growth rate during the forecast period.
North America was the leading revenue contributor to the global blood plasma derivatives market in 2016, and is expected to dominate the market during the forecast period. This is attributed to the early approval of plasma derivatives products and large number of fractionation plants in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards plasma derivatives.
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The Major Key Players Are:
Grifols,S.A., SK Plasma Co., Ltd., Fusion Health Care Pvt. Ltd., Biotest AG, Green Cross Corporation, Baxter International Inc., LFB S.A., Octapharma AG, CSL Limited, and Shire Plc.
The Other Key Players Are:
China Biologic Products, Inc., Kedrion Biopharma, Inc., BDI Pharma, Inc., Bayer AG, and Hualan Biological Engineering, Inc.
Key Findings of the Blood Plasma Derivatives Market:
• The albumin segment accounted for nearly one-sixth share of the global blood plasma derivatives market in 2016.
• The immunoglobulins segment is expected to grow at highest CAGR from 2017 to 2023.
• The immunodeficiency diseases segment accounted for around one-third share of the global market in 2016.
• Europe accounted for around one-third share of the global market in 2016.
• LAMEA is expected to provide lucrative market growth opportunities from 2017 to 2023.
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Source: EIN Presswire