Plasma Fractionation Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Plasma Fractionation Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The Plasma Fractionation market studied is anticipated to grow with a CAGR of nearly 8.76% during the forecast period, 2022-2027.

During COVID-19, the demand for covalent plasma rises to treat the COVID-19 survival, thereby positively impacting the plasma fractionation market. According to the study titled "Blood Plasma from Survivors of COVID-19: A Novel and Next Frontier Approach to Fight against Pandemic Coronavirus" published in the Immunology and Immunotherapy in April 2020, Convalescent plasma, or blood containing antibodies, has been used to treat infectious diseases like Ebola and influenza for decades. In the absence of a cure or vaccine for the coronavirus, a group of scientists is looking for a quick fix in an unusual place: the veins of recovered researchers begin drawing blood from COVID-19 survivors, who have antibodies built into their bodies to fight the virus. Thus, there is an increasing need for plasma fractions to treat the COVID-19 patient has positively impacted the market.

Certain factors that are driving the market growth include the growing use of immunoglobulins in various therapeutic areas, the rising geriatric population coupled with rising in the prevalence of rare diseases, and the increasing number of plasma collection centers across the globe. According to the World Health Organization Facts of 2021, the proportion of the global population aged 60 and up will nearly double by 2050. By 2050, 80% of the world's elderly will live in low- and middle-income countries. The population is aging at a much faster rate than in the past. Plasma therapy is an effective option to treat various diseases in older patients, and it is anticipated to drive the demand for plasma fractionation products, thereby boosting market growth.

Every country faces significant challenges in ensuring that its health and social systems are prepared to take advantage of this demographic shift. Moreover, according to the study titled "Plasma Therapy to Prevent Severe Covid-19 in Older Adults" Published in The New England Journal of Medicine in June 2021, administration of high-titer convalescent plasma against SARS-CoV-2 to infected older adults who are mildly ill and an effective therapeutic approach in the elderly. Thus, the effectiveness of plasma therapy in the geriatric population is expected to boost the market as the geriatric population is increasing over the forecast period.

According to the study titled "Plasma-derived therapies require a mastery of advanced bioproduction techniques" published European Pharmaceutical Review in April 2021, for many years, plasma-derived medicinal products have been used to treat rare, serious, genetic, and – in many cases – life-threatening diseases or conditions in immunology, hemostasis, and intensive care. Over 80 known Primary Immunodeficiency Diseases, bleeding disorders like hemophilia and von Willebrand disease, and other genetic disorders involving missing or non-functioning proteins found in blood plasma are among them. Thus, the growing prevalence of rare diseases and efficacy of plasma fractionation products in the treatment of rare diseases bolster its demand over the forecast period.

Additionally, various activities by the key market players such as product launches, partnerships, mergers, and acquisitions to bring technologically advanced plasma fractionation techniques and products into the market are anticipated to boost the market. For instance, in July 2020, Grifols, a company that makes plasma-derived medicines, agreed to buy a plasma fractionation facility in Montreal, Canada, for USD 460 million from GC Pharma of South Korea. The agreement also includes two purification facilities and 11 plasma collection centers in United States.

Thus, all aforementioned factors are anticipated to boost the market over the forecast period. However, strict regulations for the handling of plasma protein products and high cost and reimbursement issues restrain the market studied.

Immunoglobulin is being used in a variety of disorders, including primary and secondary immune deficiencies, autoimmune diseases, and inflammatory diseases, which is driving the growth of this segment. According to the study titled "Efficacy and safety of intravenous immunoglobulin for treating refractory livedoid vasculopathy: a systematic review" published in the Therapeutics advances in Chronic Diseases in May 2022, Intravenous immunoglobulin (IVIG) was reported to be the third most used monotherapy in livedoid vasculopathy (LV) and safe and effective treatment for rare diseases.

However, the growing prevalence of rare and autoimmune diseases and a surge in immunology research around the world are factors driving the immunoglobulin market forward. For instance, according to the World Economic Forum in January 2022, autoimmune diseases are becoming more prevalent around the world. The global spread of Western diets is linked to higher levels of autoimmune disease. As per the same source, Tens of millions of people develop autoimmune diseases in United States alone, and the number of cases has been increasing in recent decades. Thus, the increasing number of autoimmune diseases is driving the segment growth.

According to a research study by Namrata Singh et al., published in the British Society for Haematology Journal 2020, a high prevalence of hypogammaglobulinemia was found in newly diagnosed, treatment-naïve chronic lymphocytic lymphoma (CLL) patients. Patients with a low IgA or IgE were associated with higher-stage chronic lymphocytic lymphoma (CLL). Thus, increasing autoimmune disease prevalence is anticipated to increase the demand for immunoglobulin-based treatment, thereby growing the plasma fractionation market.

The market players are involved in the development of innovative drugs and discovering new therapeutic areas for the existing drugs. For instance, as per the National Clinical Trial (NCT) Registry, in February 2020, in China, Peking Union Medical College Hospital, in collaboration with Tongji Hospital of Tongji Medical College and Huazhong University of Science and Technology, initiated a phase II/Phase III clinical trial to assess the efficacy and safety of intravenous immunoglobulin (IVIG) for severe 2019 novel coronavirus (2019-nCoV) pneumonia. Thus, with rising research and development activity on immunoglobulin, the demand for plasma fractionation products increased, thereby boosting the segment growth.

Thus, all aforementioned factors are anticipated to boost the segment over the forecast period.

In the North American region, United States accounted for the largest market share due to the rising geriatric population and various associated diseases.

For instance, according to the March 2021 report of the Alzheimer’s Association, approximately 6.2 million people of age 65 years and more are living with Alzheimer’s-related dementia in United States, and it is projected that this number will increase to 13.8 people by 2060. Further, as per the same source, Alzheimer’s- and dementia-related deaths in United States increased by 16% during the COVID-19 pandemic. It was estimated that in 2021, the country recorded about USD 355 billion of Alzheimer’s and other dementia incurred costs, and it is expected that by 2050, this amount would rise to more than USD 1.1 trillion. Additionally, an estimated 6.2 million Americans aged 65 years and older are living with Alzheimer’s dementia in 2021 and are projected to reach 13.5 million by 2050. Thus, the high prevalence of Alzheimer's disease and the effectiveness of the plasma fractionation product in the treatment bolster the market growth over the forecast period.

The fresh frozen plasma (FFP) was the mainstay of treatment for hemophilia A and hemophilia B. This market's growth is also aided by the large number of registered hemophilic patients. As the number of hemophilic patients grows, so will the use of coagulation factors, which will drive the plasma fractionation market in North America. United States is the largest market in the region. According to the World Federation of Hemophilia 2021 report, there were about 14,816 patients with hemophilia, including (Hemophilia A -11,790 and Hemophilia B-3,026) in United States in 2020 and people diagnosed with hemophilia in United States and 3,924 patients with hemophilia in Canada in 2020 including (Hemophilia A -3,223 and Hemophilia B-701). Thus, the high incidence of hemophilia and higher adoption of plasma fractionation therapy to treat hemophilia are expected to rise its demand over the forecast period, thereby boosting the market growth.

Moreover, rising initiatives from key market players are also expected to drive market growth in this region. For instance, in March 2021, BPL sold Grifols 25 plasma centers in United States, ensuring one million additional liters for plasma fractionation. Thus, such initiatives by the key market players are anticipated to drive the growth of the market over the forecast period.

Thus, the increasing research and development in the development of new effective therapies, along with the rising prevalence of targeted diseases in United States, is expected to drive the market over the forecast period in this region.

The global Plasma Fractionation market is moderately competitive and consists of a number of major players. Companies like Bio Products Laboratory, Biotest AG, China Biologic Products, CSL Behring, Grifols S.A., Takeda Pharmaceutical Company Ltd, Kedrion S.p.A, Octapharma, Shanghai RAAS Blood Products, among others, hold a substantial market share in the market.

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