New York, USA, April 20, 2021 (GLOBE NEWSWIRE) -- The plasma therapy industry is likely to see a bolstering growth during the COVID-19 pandemic. According to a report published by Research Dive, the global plasma therapy market is projected to surpass $432.8 million and Reache to Rise at a CAGR of 16.3% during the forecast period from 2019 to 2026. The report provides detailed analysis on drivers, restraints, massive growth opportunities, challenges, key segments, and several strategies by market players in order to better understand the effect of the pandemic on the global market.
Impact of COVID-19 Crisis on the Industry
As per our analysts, the increasing cases of COVID-19 coupled with the rising need for the implementation of plasma therapy in the coronavirus treatment across the globe is the major factor driving the growth of the global plasma therapy market in 2020. Besides, scientists are increasingly focusing on R&D activities with immune modulating pharmacotherapies for the success of plasma therapy to cure COVID-19 affected patients. Moreover, several government and government bodies across the globe are taking initiatives to use plasma therapy as an emergency treatment for COVID-19. For instance, in August 2020, the drug regulatory authority of the United States, the FDA, authorized the emergency use of convalescent plasma therapy to treat coronavirus affected patients.
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Highlights of the Report
- The estimated CAGR of the plasma therapy market prior to COVID-19 pandemic was 14.6% over the forecast period.
- The CAGR of the global industry is expected to grow at 16.3% by 2027 after pandemic crisis.
- In 2020, the predicted market size of the plasma therapy industry before the COVID-19 pandemic was $171.7 million.
- Due to COVID-19 pandemic, the market size of the global industry is expected to surpass $178.2 million in 2020.
Regional Analysis
The North America market for plasma therapy is estimated to hold a significant share in the global industry and generate a revenue of $155.8 million by 2026. The significant growth of the region can be attributed to rising demand for plasma therapy procedures from hospitals & clinics and the presence of innovative protein fractioning methods in the region.
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On the other hand, the Asia-Pacific market is predicted to create ample growth opportunities in terms of revenue over the forecast period. This is mainly due to increasing awareness among blood donors and the rise in number of hospitals in the region.
Post-Pandemic Market Landscape
As per the report, the global plasma therapy market is expected to witness a considerable growth even after the COVID-19 pandemic. This is mainly due to rising awareness about personalized and customized healthcare systems and the growing demand for plasma therapy for the treatment of neurological disorders. In addition, the increasing adoption of plasma therapy to provide enhanced treatment for various disorders including shoulder, ankle, knee, and other parts of the body is another factor expected to propel the global market growth by 2026. Furthermore, the key players of market are adopting several strategies to adopt a strong position in the global industry.
For instance, in October 2020, Takeda and CSL Behring, the leading biopharmaceutical companies along with companies in the CoVIg Plasma Alliance have initiated the manufacturing of ‘hyperimmune immunoglobulin drug’ (H-Ig drug) as a phase III trial run and potential treatment to fight COVID-19 disease. H-Ig can be given to all eligible patients and does not require blood-type matching as compared to FDA-authorized convalescent plasma.
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Prominent Players of the Industry
The major players operating in the global market for plasma therapy include
- BioLife PLASMA SERVICES
- Grifols, S.A.
- China Biologic Products Holdings, Inc.
- Kedrion S.p.A
- Biotest AG
- CSL Limited
- Bio Products Laboratory Ltd.
- Cambryn Biologics, LLC
- Octapharma AG.
The report presents various aspects of all these major players including financial performance, recent developments & strategic moves, SWOT analysis, and product portfolio.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status -Inquire to Get access for Detailed Top Companies Development Strategy Report
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