Global Plasma Expander Market Is Estimated To Witness High Growth...

Global Plasma Expander Market Is Estimated To Witness High Growth Owing To Increasing Demand for Blood Transfusion and Rising Prevalence of Chronic Diseases

Posted 2023-09-07 13:46:04

The global Plasma Expander market is estimated to be valued at US$ 28.28 billion in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Plasma expanders are substances used to create the volume of circulating blood. They are used in various medical applications such as blood transfusion, surgeries, trauma cases, and burn victims. These products are primarily used to increase plasma volume and maintain tissue perfusion in patients. Plasma expanders provide immediate volume replacement, maintain oncotic pressure, and prevent hypovolemia. Key products in this Plasma Expander Market include human albumin, hydroxyethyl starch, gelatin, and dextran. The market is driven by the increasing demand for blood transfusion and the rising prevalence of chronic diseases.

Market Dynamics:
1. Driver One - Increasing Demand for Blood Transfusion:
The increasing prevalence of chronic diseases and the rising number of surgeries have led to a growing demand for blood transfusion. According to the World Health Organization, an estimated 112.5 million blood donations were collected globally in 2018. Plasma expanders play a crucial role in blood transfusion procedures by replacing the volume of circulating blood, thereby maintaining tissue perfusion and preventing hypovolemia.

2. Driver Two - Rising Prevalence of Chronic Diseases:
The prevalence of chronic diseases, such as cardiovascular diseases, kidney diseases, and liver diseases, is increasing globally. These conditions often require medical interventions, including surgeries and blood transfusions. Plasma expanders are widely used in these procedures to maintain blood volume and prevent hypovolemia. As the incidence of chronic diseases continues to rise, the demand for plasma expanders is expected to witness substantial growth.

SWOT Analysis:
- Strength: Increasing demand for blood transfusion, Rising prevalence of chronic diseases.
- Weakness: Potential side effects associated with certain plasma expanders.
- Opportunity: Growing adoption of minimally invasive surgeries, Increasing focus on research and development for advanced plasma expanders.
- Threat: Stringent regulations for plasma expander products, Potential competition from alternative therapies.

Key Takeaways:
Paragraph 1: The global plasma expander market is expected to witness high growth, exhibiting a CAGR of 6.7% over the forecast period, due to increasing demand for blood transfusion and the rising prevalence of chronic diseases. Plasma expanders play a crucial role in maintaining tissue perfusion and preventing hypovolemia in patients undergoing these procedures.

Paragraph 2: In terms of regional analysis, North America is expected to dominate the plasma expander market, owing to the presence of well-established healthcare infrastructure, increasing surgical procedures, and a high prevalence of chronic diseases. Asia Pacific is expected to be the fastest-growing region due to factors such as the rising geriatric population, increasing healthcare expenditure, and improving healthcare infrastructure.

Paragraph 3: Key players operating in the global plasma expander market include Baxter International Inc., Fresenius SE & Co. KGaA, CSL Limited, Grifols, S.A., B. Braun Melsungen AG, Hikma Pharmaceuticals PLC, Octapharma AG, Kedrion S.p.A., Shanghai RAAS Blood Products Co., Ltd., Terumo Corporation, JW Life Science, Celgene Corporation, Pentapharm Ltd., Haemonetics Corporation, and Macopharma. These players focus on strategic collaborations, mergers and acquisitions, and product launches to strengthen their market position and expand their product portfolio.

In conclusion, the global plasma expander market is expected to witness significant growth in the forecast period, driven by the increasing demand for blood transfusion and the rising prevalence of chronic diseases. However, the market may face challenges such as potential side effects associated with certain plasma expanders and stringent regulations for these products. Nevertheless, with the growing adoption of minimally invasive surgeries and increasing focus on research and development for advanced plasma expanders, the market is poised for substantial opportunities. Key players in the market are continuously investing in research and development initiatives to introduce innovative products and gain a competitive edge.