Global Plasma Fractionation Market Size, Trends & Growth Opportunity, By Donor Type (Albumin, Immunoglobulins, Coagulation factor VIII, Coagulation factor IX), By Sector (Public Sector, Private sector), By Region and Forecast 2022- 2027.
Global Plasma Fractionation Market
Global Plasma Fractionation Market was valued at USD 25.88 Bn in 2021 which expected to reach at USD 47.65 Bn by 2027 at a CAGR 6.81% from 2022-2027.
The process of plasma fractionation has been successfully used to separate the various components of blood plasma, which are subsequently used to produce various therapeutic plasma products. With these plasma products, several medical conditions are treated. For instance, haemophilia is primarily treated and prevented with the help of the plasma derivative coagulation factor VIII. Additionally, it is used during surgery to prevent excessive blood loss. The use of immunoglobulins to treat both primary and secondary immunological deficits is similar.
Market Drivers
Over the course of the projection period, the market for worldwide plasma fractionation is anticipated to rise as immunoglobulins are being used in a variety of medicinal applications. Therefore, immunoglobulin's growing utilization will increase its dominance & boost market possibilities. Glycoproteins called immunoglobulins are generated from plasma and function as antibodies. Due to technological improvements, the prevalence of numerous immunological illnesses has been rising during the past few years. Additionally, when more people with immunodeficiencies are found, there will be a greater clinical need for immunoglobulins as a result of the growth in genetic research for identifying and diagnosing immunodeficiency.
Furthermore, important players are focusing more on developing improved plasma fractionation facilities. For instance, Kedrion Biopharma declared in 2019 that the US Food and Drug Administration (USFDA) had given the business permission to build a plasma manufacturing facility in Melville that would be dedicated to generating plasma for patients. The expansion of these facilities is anticipated to fuel the growth of the worldwide plasma fractionation market.
Market Restraints
The growth of the global plasma fractionation market over the anticipated period may be hampered by strict regulatory standards. Since plasma products are created by separating blood from plasma, regulatory agencies strictly control the product. Among other things, the market's expansion may be hampered by strict rules and regulations relating to the manufacturing facility, the source of the whole blood, and the isolation procedure.
Impact of COVID-19 on Market
The global spread of COVID-19 has had an impact on every industry. For instance, nations all around the world ordered national lockdowns to observe social segregation as a tactic to contain the spread of COVID-19 after the World Health Organization (WHO) proclaimed it to be a pandemic. This causes upheaval, difficulties, and changes in every industry's area. Due to the decline in blood donations and plasma collections, the pandemic also had a negative effect on the world market for plasma fractionation.
Market Segmentation
The market for plasma fractionation around the world is divided into product such as Albumin, Immunoglobulins, Coagulation factor VIII, Coagulation factor IX. In terms of market share, by product, immunoglobulin is the largest segment in the global plasma fractionation market which expected to exhibit the fastest growth rate during the forecast period. Further, market is segmented into sector such as Public Sector, and Private sector.
Regional Analysis
The Global Plasma Fractionation Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The plasma fractionation market is anticipated to have the greatest market share in North America, followed by Europe. The increased usage of immunoglobulins in a variety of therapeutic settings, the rise in the elderly population, and the rising incidence of respiratory illnesses and AATD are all responsible for North America's significant market share. For instance, the Alzheimer's Association said that in 2018, there were 5.8 million Alzheimer's patients in the United States. In the United States, Alzheimer's disease ranks as the sixth greatest cause of mortality. It is more common in persons over 65, where it affects about 5.6 million people.
Key Players
The Global Plasma Fractionation Market is consolidated with key players such as Grifols S.A, Octapharma AG, CSL Ltd., Baxalta Incorporated, Kedrion S.p.A, Takeda Pharmaceutical Company Ltd, Sanquin, Biotest AG, etc.
Market Taxonomy
By Product
By Sector
By Region
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