Global Blood Plasma Derivatives Market Trends Perceives a Fortifying Growth in Upcoming Years; Confirms MRFR
Blood Plasma Derivatives Market Overview
Blood plasma derivatives are concentrates of specific plasma proteins derived from a pool of plasma donors through a process known as fractionation. They are used in the treatment of various life-threatening diseases.
Market Research Future (MRFR)'s blood plasma derivatives market trends report perceives the growth of the global industry to be healthy at a CAGR of 10.50% over the forecast period of 2022-2030 and is anticipated to catapult to approximately USD 40,475.8 Mn by the end of 2030.
The prevalence of life-threatening blood-related diseases is on the upswing which is a significant factor in shaping the growth of the global blood plasma derivatives market. A surge in medical conditions such as hemophilia, cancer, HIV, and others exert massive burden on the healthcare sector across the globe and induces high demand for blood plasma derivatives for the treatment of the same.
Blood plasma derivatives find application in a plethora of clinical use cases. Blood plasma derivatives are a vital source of various medicinal products.
The rise in global geriatric population also fuels the growth of the blood plasma derivatives market. The elderly population is generally at more risk of acquiring life-threatening diseases which consequently necessitates treatment and further intensifies the growth of the market.
Other driving factors include raising awareness regarding blood and plasma donation and advancement in the preservation techniques of blood plasma. Also, an outlay of substantial amounts on research & development activities and expanding range of clinical applications of blood plasma derivatives are expected to be a tailwind for the growth of the global blood plasma derivatives market.
On a different note, the high costs associated with plasma derivative-based therapies along with the risk of adverse side effects of plasma replacement therapy is a restraining factor to the growth of the global blood plasma derivatives market.
Segmentation
The global blood plasma derivatives market has been segmented based on type, application, and end user. By type, the market has been segmented into anti-thrombin, fresh frozen plasma (FFP), intravenous immunoglobulin (IVIG), Albumin, and others. Other types include Factor VII, Factor IX, and Alpha 1 proteinase inhibitor concentrate.
By application, the market has been segmented into Hemophilia A, Hemophilia B, HIV, Hepatitis B, Hepatitis C, Thrombocytosis, and others. Other application includes Von Willebrand disease.
By end user, the market has been segmented into blood transfusion centers,
hospitals, diagnostic centers, clinics, and others.
Regional Analysis
North America, Europe, Asia-Pacific, and the Middle East and Africa are the key markets for blood plasma derivatives. North America is dominating the market for blood plasma derivatives and is expected to expand at a CAGR of 4.25% over the forecast period. The North America blood plasma derivatives market was valued at USD 20 Bn in 2016 and is envisioned to reach USD 35.50 Bn by the end of the forecast period. High awareness regarding the use of blood plasma derivatives coupled affordability of blood plasma derivative-based therapies boosts the growth of the North America market. In addition, the high prevalence of infectious diseases requiring blood plasma derivatives for treatment propels the growth of the market.
Europe follows North America closely and is the second largest market for blood plasma derivatives driven by extensive R&D activities and rise in a number of research institutions. The Europe blood plasma derivatives market is expected to grow at a CAGR 3.8% over the forecast period.
Asia Pacific is slated to emerge as the fastest growing market for blood plasma derivatives. Growing prevalence of life-threatening diseases couple with high awareness supports the growth of the market.
Competitive Landscape
Fusion Healthcare (India), Octapharma AG (Switzerland), Baxter International Inc. (US), Bain Capital, LLC (US), Grigols (Spain), Kedrion S.p.A (Italy), SK Plasma Co., Ltd. (South Korea), Biotest AG (Germany), and CSL Limited (Australia) are some of the prominent companies profiled in the blood plasma derivatives market share report.
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