Plasma Protein Therapeutics - Market Insights, Competitive Landscape, and Market Forecast - 2030

Plasma Protein Therapeutics - Market Insights, Competitive Landscape, and Market Forecast - 2030

Plasma Protein Therapeutics Market by Product (Immunoglobulin, Albumin, Plasma Derived Factor VIII, and Others), Application (Hemophilia, Idiopathic Thrombocytopenic, Primary Immunodeficiencies, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World) is expected to advance at a respectable CAGR forecast till 2030 owing to the rising cases of autoimmune & neurological disorders and the increasing product developmental activities across the globe.

The plasma protein therapeutics market was valued at USD 25.07 billion in 2023, growing at a CAGR of 6.65% during the forecast period from 2024 to 2030 to reach USD 39.27 billion by 2030. The plasma protein therapeutics market is growing significantly due to the critical role plasma protein therapeutics play in managing diverse conditions such as hemophilia, multiple sclerosis, and immune thrombocytopenia by providing essential clotting factors, modulating immune responses, and improving patient outcomes. The ongoing advancements in these therapies and their expanding applications are expected to drive significant growth in the plasma protein therapeutics market during the forecast period from 2024 to 2030.

Plasma Protein Therapeutics Market Dynamics:

According to the World Federation of Haemophilia (2022) reports, approximately 20,000 people with hemophilia are born each year worldwide, with about 7,000 of these cases being classified as severe. In addition to this, the source further stated that there are 233,577 individuals with hemophilia, comprising 185,318 with Hemophilia A and 37,998 with Hemophilia B.

The report also highlighted the global distribution of factor VIII utilization globally, with Africa at 17%, Americas at 17%, Europe at 10%, South East Asia at 36%, Eastern Mediterranean at 11%, and Western Pacific at 9%. Plasma protein therapies, especially factor VIII, are crucial for managing hemophilia worldwide. In regions like Africa, the Americas, South East Asia, Europe, the Eastern Mediterranean, and the Western Pacific, these therapies provide essential clotting factors for treating hemophilia A and B, preventing and managing bleeding episodes, and ensuring effective disease management.

As per data from the World Health Organization (2023), it was reported that over 1.8 million people worldwide are affected by Multiple sclerosis (MS). It impacts various functions including cognitive, emotional, motor, sensory, and visual abilities. In the treatment of MS, plasma protein therapy, particularly intravenous immunoglobulin (IVIG), is used to modulate the immune system and reduce inflammation. IVIG helps to suppress the autoimmune response attacking the myelin sheath around nerves, potentially reducing relapse frequency and severity.

The National Organization for Rare Disorders in 2022, stated that immune thrombocytopenia (ITP) can affect individuals of all ages, ranging from as young as 3 months to over 100 years old. Approximately 40% of those diagnosed with ITP are children under the age of 10. Globally, it is estimated that more than 200,000 people are affected by this condition. Plasma protein therapy, specifically intravenous immunoglobulin (IVIG), is used to increase platelet counts and reduce immune-mediated platelet destruction. IVIG works by providing pooled antibodies to modulate the immune system and is typically employed in acute or severe cases to quickly improve platelet levels and prevent bleeding.

Therefore, all the factors stated above collectively will drive the overall plasma protein therapeutics market during the forecast period from 2024 to 2030.

However, stringent regulations for managing plasma protein products, and severe allergic reactions associated with the administration of plasma, among others may limit their end-user base, thus acting as key constraints limiting the growth of the plasma protein therapeutics.

Plasma Protein Therapeutics Market Segment Analysis:

Plasma Protein Therapeutics Market by Product (Immunoglobulin, Albumin, Plasma Derived Factor VIII, and Others), Application (Hemophilia, Idiopathic Thrombocytopenic, Primary Immunodeficiencies, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the application segment of plasma protein therapeutics, the hemophilia category is expected to have a significant revenue share in the year 2023. The rapid growth of this product category can be attributed to the increased prevalence and awareness of hemophilia have led to the greater recognition and diagnosis of the condition.

This is further facilitated by advancements in genetic testing and screening technologies that enable earlier and more precise identification of the disorder. Continuous innovations in treatment options including the development of extended half-life clotting factors and recombinant therapies, have significantly improved treatment outcomes and patient compliance. These advancements not only enhance the effectiveness of therapies but also reduce the frequency of infusions, making them more convenient for patients.

Additionally, the growth of the application segment is anticipated to be driven by increasing research and development (R&D) activities and advancements by key companies. For example, in July 2021, Sanofi showcased new clinical data and research from its portfolio of marketed and investigational therapies for rare blood disorders, including hemophilia, immune thrombocytopenia (ITP), and acquired thrombotic thrombocytopenic purpura (aTTP).

Therefore, owing to all the above-mentioned factors, the demand for the hemophilia category upsurges, thereby the category is expected to witness considerable growth in the overall plasma protein therapeutics market.

North America is expected to dominate the overall plasma protein therapeutics market:

Among all the regions, North America is expected to dominate the plasma protein therapeutics market in the year 2023 and is expected to do the same during the forecast period. This is due to the increasing prevalence of conditions like Guillain-Barré Syndrome and the growing demand for effective treatments, coupled with strategic partnerships and regulatory advancements. The continuous development and approval of new plasma protein therapies are expected to significantly boost the market for plasma protein therapeutics in North America during the forecast period from 2024 to 2030.

According to data from the Centers of Disease Control and Prevention (2023), it stated that Guillain-Barré Syndrome (GBS) is a rare disorder in which the body's immune system mistakenly attacks the peripheral nerves. This damage to the nerves leads to muscle weakness and, in some cases, paralysis. The exact cause of GBS is not fully understood, but it frequently occurs following an infection with a virus or bacteria. In the United States, an estimated 3,000 to 6,000 people develop GBS each year. In GBS, plasma protein therapy, particularly intravenous immunoglobulin (IVIG), is used as a primary treatment. IVIG helps modulate the immune system by providing pooled antibodies from multiple donors, which can neutralize harmful antibodies attacking the peripheral nerves. This therapy reduces inflammation and supports nerve recovery, often leading to improved functional outcomes.

Various strategic partnerships and collaborations among biotech companies, pharmaceutical firms, and research institutions in North America are also expected to drive the market. For instance, in September 2022, Grifols announced that it signed a pioneering long-term agreement with Canadian Blood Services, Canada’s national blood authority, to greatly increase the country’s self-sufficiency in immunoglobulin (Ig) medicines, essential plasma-protein therapies used to treat a wide range of immunodeficiencies and other medical conditions.

Rising product developmental activities by regulatory bodies in the region will further boost the market for plasma protein therapeutics. For example, in June 2021, Kedrion Biopharma and Kamada Ltd., two leading biopharmaceutical companies specializing in plasma-derived protein therapeutics, announced that the U.S. Food and Drug Administration (FDA) approved a label update for KEDRAB® (Rabies Immune Globulin [Human]).

Therefore, the interplay of all the aforementioned factors is expected to provide a conducive growth environment for the North American plasma protein therapeutics market.

Plasma Protein Therapeutics Market key players:

Some of the key market players operating in the plasma protein therapeutics market include Octapharma AG, Takeda Pharmaceutical Company Limited, Biotest AG, Grifols, S.A., CSL, Bayer AG, Baxter, Bio Products Laboratory Ltd, Kedrion S.p.A, China Biologic Products Holdings, Inc, and others.

Recent Developmental Activities in the Plasma Protein Therapeutics Market:

In March 2024, Biognosys, announced the release of enhanced plasma proteomics workflows for its TrueDiscovery® unbiased discovery proteomics research services platform. These new workflows utilize an innovative plasma enrichment method, providing comprehensive proteome coverage with outstanding data quality, reproducibility, and efficiency.

In October 2022, Grifols inaugurated a new albumin purification and filling plant at its global manufacturing and supply hub in Dublin, Ireland. This milestone marked a significant advancement in the ongoing expansion of the site, which became increasingly crucial for the production, packaging, and distribution of Grifols therapies worldwide.

Key Takeaways from the Plasma Protein Therapeutics Market Report Study

Market size analysis for current plasma protein therapeutics market size (2023), and market forecast for 6 years (2024 to 2030)

Top key product/services developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years.

Key companies dominating the plasma protein therapeutics market

Various opportunities available for the other competitors in the plasma protein therapeutics market space

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current plasma protein therapeutics market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for plasma protein therapeutics market growth in the coming future?

Target audience who can be benefited from this Plasma Protein Therapeutics Market Report Study

Plasma protein therapeutics product providers

Research organizations and consulting companies

Plasma protein therapeutics-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and traders dealing in plasma protein therapeutics

Various end-users who want to know more about the plasma protein therapeutics market and the latest developments in the plasma protein therapeutics market

Frequently Asked Questions for the Plasma Protein Therapeutics Market:

1. What are Plasma Protein Therapeutics?

Plasma protein therapeutics are biologic medications derived from human plasma, consisting of purified plasma proteins such as clotting factors, immunoglobulins, and albumin, used to treat specific deficiencies or dysfunctions of these proteins in various medical conditions.

2. What is the market for Plasma Protein Therapeutics?

The plasma protein therapeutics market was valued at USD 25.07 billion in 2023, growing at a CAGR of 6.65% during the forecast period from 2024 to 2030 to reach USD 39.27 billion by 2030.

3. What are the drivers for the Plasma Protein Therapeutics market?

The plasma protein therapeutics market is growing significantly due to the critical role plasma protein therapeutics play in managing diverse conditions such as hemophilia, multiple sclerosis, and immune thrombocytopenia by providing essential clotting factors, modulating immune responses, and improving patient outcomes. The ongoing advancements in these therapies and their expanding applications are expected to drive significant growth in the plasma protein therapeutics market from 2024 to 2030.

4. Who are the key players operating in the Plasma Protein Therapeutics market?

Some of the key market players operating in the plasma protein therapeutics market include Octapharma AG, Takeda Pharmaceutical Company Limited, Biotest AG, Grifols, S.A., CSL, Bayer AG, Baxter, Bio Products Laboratory Ltd, Kedrion S.p.A, China Biologic Products Holdings, Inc, and others.

5. Which region has the highest share in the Plasma Protein Therapeutics market?

Among all the regions, North America is estimated to hold a significant revenue share in the plasma protein therapeutics market. This can be ascribed to the increasing prevalence of conditions like Guillain-Barré Syndrome and the growing demand for effective treatments, coupled with strategic partnerships and regulatory advancements. The continuous development and approval of new plasma protein therapies are expected to significantly boost the market for plasma protein therapeutics in North America during the forecast period from 2024 to 2030.