Plasma Derived Therapy Market Size By Product (Coagulation Factors, Immunoglobulins, Albumin), By Application (Primary Immunodeficiency Diseases, Haemophilia, Idiopathic Thrombocytopenic Purpura (ITP)), Industry Analysis Report, Regional Outlook, COVID-19

Plasma Derived Therapy Market Size By Product (Coagulation Factors, Immunoglobulins, Albumin), By Application (Primary Immunodeficiency Diseases, Haemophilia, Idiopathic Thrombocytopenic Purpura (ITP)), Industry Analysis Report, Regional Outlook, COVID-19 Impact Analysis, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2030

The plasma derived therapy market is likely to observe robust growth through 2030 driven by increasing prevalence of rare diseases.

Growing dependence on plasma-based therapies to effectively treat a range of inhibitor deficiencies, bleeding disorders, and primary as well as secondary immunodeficiencies has played a key role in market development. Blood donation organizations, such as NHS Blood and Transplant (NHSBT) and American Red Cross, have accelerated blood donation to derive large volumes of blood plasma for use in the field of medicine.

Recently, in July 2021, the NHSBT launched its first initiative to encourage plasma donation. With this move, the organization addressed the lack of awareness regarding plasma donation in the UK and appealed to 14,500 individuals to start donating plasma. The initiative was designed to reinstate donation and strengthen new plasma donation networks.

Following the COVID-19 outbreak, there was a surge in demand for plasma as part of the treatment of patients infected with the novel coronavirus. In January 2022, Red Cross, a prominent non-profit organization, announced that it was amidst the worst blood shortage in more than a decade in light of rising Omicron cases, which caused a further decline in donor turnout. Consequently, the booming need for plasma in COVID-19 therapy has propelled product demand significantly during the pandemic.

Moreover, key industry players have also been adopting lucrative strategies to obtain a competitive edge in the market, which has been favorable for plasma derived therapy market expansion. For instance, in January 2022, Octapharma, a major protein manufacturer in the pharma space, introduced its human immunoglobulin dubbed cutaquig for subcutaneous administration in the EU market. This novel treatment for secondary immunodeficiency diseases is a ready-to-use, liquid immunoglobulin therapy and targets patients in need of immunoglobulin replacement therapy.

The global plasma derived therapy market has been segmented based on product, application, and region. By product, the industry has been categorized into albumin, coagulation factors, immunoglobulins, and others. Of these, the coagulation factors product segment is estimated to exhibit a CAGR of around 7.4% through the review period. Surging number of hemophilia cases and the increasing global pediatric population suffering from rare illnesses are expected to fuel product demand.

With regards to application, the plasma derived therapy market has been bifurcated into primary immunodeficiency diseases, immune thrombocytopenic purpura (ITP), hemophilia, and others. In 2021, the primary immunodeficiency diseases segment acquired around 25.2% market share. Increasing healthcare expenditure, coupled with growing awareness about treatment for primary immunodeficiency diseases, is likely to bolster segmental adoption.

In terms of region, the Latin America plasma derived therapy market is projected to showcase around 7.2% CAGR over the assessment period. Improving healthcare infrastructure, along with increasing government funding and initiatives that are boosting the adoption of advanced therapies in healthcare facilities across LATAM, is slated to accelerate regional business through the forecast period.