Global Plasma Therapy Market 2022-2028

Global Plasma Therapy Market 2022-2028

Global plasma therapy market is anticipated to grow at a CAGR of 13.1% during the forecast period. The factors driving the plasma therapy market are the rising prevalence of life-threatening diseases which includes various neurological system disorders such as chronic inflammatory demyelinating polyneuropathy (CIPD), idiopathic thrombocytopenic purpura (ITP), multifocal motor neuropathy (MMN). In addition, the rise in the occurrence of contagious diseases such as hepatitis A&B, tetanus, and rabies is estimated to impact the market positively during the forecast period.

An impressive technological advancement over the period has added much more to the therapies for the treatment of various diseases which has also led to the introduction of cost-effective protein fractioning technologies from plasma. This is also being seen as a major booster to the growth of the plasma therapy market during the forecast period. As per estimates by the World Health Organization (WHO) about 108 million global blood donations come from high-income countries, which is the home to 18% of the world’s population. The presence of a favorable government initiates the development of plasma-derived medicine and raising awareness regarding the importance of blood donation are the key drivers for this market.

Impact of COVID-19 Pandemic on Global Plasma Therapy Market

Due to a scarcity of antiviral treatments and the fact that plasma therapy is considered an emergency treatment approach, the present COVID-19 pandemic has helped to boost the market. Platelet-rich plasma can be utilized for pain management during COVID-19, which is one of its advantages. This approach, which has been used to prevent surgery, is also helpful in giving short-term pain relief in patients who are awaiting surgical clearance and do not want to be delayed any further by the side effects of steroids.

Segmental Outlook

The global plasma therapy market is segmented based on type, application, and end-user. Based on type, the plasma therapy market is segmented into leukocyte-rich fibrin (L-PRF), pure platelet-rich fibrin (PRF), leucocyte-rich PRP, and pure PRP.The pure PRP segment is estimated to account for the largest share of the global market during the forecast period. One of the most significant factors driving the growth of this market includes the effective results of pure PRP therapy. However, the lack of reimbursement policies and varying prices of plasma therapy are hindering the growth of the market. Based on application, the plasma therapy market is segmented into orthopedics, dermatology, dental, and others. The orthopedic segment is further segmented into arthritis, chronic tendinitis, and bone repair & regeneration. Similarly, the dermatology segment is further segmented into androgenic alopecia and plastic surgery. Based on end-user, the market is classified into hospitals & clinics, and research institutions. The hospitals & clinics segment is estimated to account for the largest share of the global market during the forecast period.

The Orthopaedics Segment is Expected to Hold a Prominent Share in the Global Plasma Therapy Market

The orthopedics segment is anticipated to hold a significant share in the market owing to the increase in the incidence rate of orthopedic diseases. According to the World Health Organization (WHO), symptomatic osteoarthritis affects 9.6% of men and 18% of women over the age of 60 worldwide. 80% of them have movement restrictions, and 25% are unable to do daily tasks.

Regional Outlooks

The global plasma therapy market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East &Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The North American region is anticipated to be the fastest-growing region in the plasma therapy market owing to the growing number of hospitals and clinics which is increasing the demand for plasma therapy. The key driving forces expected to boost the market of plasma therapy in North America are rising awareness levels among blood donors, the presence of advanced protein fractioning procedures, and higher per capita income in developed countries.

The North American Region is Anticipated to hold the Prominent Share in the Global Plasma Therapy Market

The North American region is anticipated to hold a prominent share of the plasma therapy market owing to the rise in the prevalence of numerous diseases, such as arthritis, well-established healthcare infrastructure, improved regulatory environment, and government assistance. According to a poll done by the Centers for Disease Control and Prevention (CDC) in 2020, one out of every four persons in the US had arthritis, with a projected 78 million adults anticipated to suffer from the disease by 2040. Furthermore, the prevalence of doctor-diagnosed arthritis is predicted to climb dramatically in the region during the forecast period, owing to the region's aging population. Osteoarthritis is the most common kind of arthritis, affecting around 31 million Americans each year.

Market Players Outlook

The major companies serving the global plasma therapy market include Arthrex Inc., China Biologic Products Inc., and Johnson and Johnson. The companies are focusing on product innovations, expansions, mergers and acquisitions, and finding a new market or innovation in their core competency to expand individual market share. For instance, PRP (Platelet-rich Plasma) Microneedling Facelifts for patients were introduced by Atlas Health Medical Group in February 2021.