The global plasma fractionation market is expected to grow primarily due to the growing geriatric global populations. Neurology sub-segment is expected to flourish immensely. The market in the North America region is predicted to grow at a high CAGR by 2031.
NEW YORK, June 20, 2023 /PRNewswire/ — Global Plasma Fractionation Market Forecast Analysis:
As per the report published by Research Dive, the global plasma fractionation market is expected to register a revenue of $56,870.10 million by 2031 at a CAGR of 7.2% during the forecast period 2022-2031.
Segments of the Plasma Fractionation Market
The report has divided the market into the following segments:
- Product: immunoglobulin, albumin, coagulation factors, protease inhibitors, and others
- Immunoglobulin– Most dominant by 2031
The increased expansion in use of immunoglobulins in various therapeutic areas is expected to make the sub-segment a highly dominant one in the forecast period. - Application: neurology, immunology, hematology, critical care, rheumatology, pulmonology, and others
- Neurology– Highest revenue in 2021
Increasing prevalence of neurological disorders across the world is expected to augment the growth rate of the market in the 2022-2031 timeframe. - End User: hospitals & clinics, clinical research laboratories, and academic institutes
- Hospitals & Clinics – Most lucrative in 2021
Rise in off-label use of plasma fractionation products in hospitals to treat a number of ailments is expected to propel the sub-segment forward. - Region: North America, Europe, Asia-Pacific, and LAMEA
- North America – Significant market share in 2021
The presence of prominent healthcare market players and expansion in plasma fractionation-related R&D activities are anticipated to push forward the market.
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Dynamics of the Global Plasma Fractionation Market
Geriatric population is generally more susceptible to rare disorders and hence a growth in global geriatric populations is expected to make the plasma fractionation market a highly profitable one in the forecast period. Additionally, rising usage of immunoglobulin to treat immunodeficiency diseases is predicted to propel the market forward. However, according to market analysts, increase in usage of recombinant therapies as an alternative to plasma-driven medicines might become a restraint in the growth of the market.
Growing investments for R&D activities related to plasma-driven medications is predicted to offer numerous growth opportunities to the market in the forecast period. Moreover, rising risk of inflammatory disorders in the people around the world is expected to propel the plasma fractionation market forward in the coming period.
COVID-19 Impact on the Global Plasma Fractionation Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The plasma fractionation market, too, faced a similar fate. The number of blood donations and plasma collections reduced significantly during the pandemic and many surgeries were also postponed as the focus was mainly towards curbing the spread of the Covid-19 pandemic. These factors reduced the scope and growth rate of the market during the pandemic.
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Key Players of the Global Plasma Fractionation Market
The major players of the market include
- Kedrion S.P.A
- CSL Behring
- Takeda Pharmaceutical Company Limited
- Octapharma AG
- Grifols S.A.
- Bio Products Laboratory Ltd.
- Biotest AG
- China Biologic Products Holdings Inc.
- LFB Group
- Japan Blood Products Organization
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain market growth.
For instance, in March 2023, Takeda, a global pharmaceutical giant, announced that it was investing 100 billion Japanese Yen for establishing a new plasma fractionation facility in Osaka, Japan. This investment, its largest till date, has been made by Takeda keeping in mind the widening scope of plasma fractionation industry and bringing its operations in line with the demands of the medical sector. This investment is expected to help Takeda to consolidate its position in the market in the coming period.
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What the Report Covers
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter’s five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
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About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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