Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "Convalescent Plasma Therapy Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Market Insights
The global market for convalescent plasma therapy has experienced significant growth, forecasted to continue expanding from USD 0.05 billion in 2023 to USD 0.08 billion by 2028, with a robust compound annual growth rate (CAGR) of 12.8%. This surge can be attributed to the ongoing battle against infectious diseases and the steady advances in immunotherapies. The rise in emergency use authorizations and the increasing prevalence of notable pandemics underscore the critical role of convalescent plasma therapy within current medical practices.
Safety and Efficacy Driving Growth
Convalescent plasma therapy's demonstrated effectiveness, particularly its use during the COVID-19 pandemic, has been instrumental in driving market growth. Medical studies have shown that this treatment is safe and improves patient recovery rates, hence expanding its utilization in clinical settings. As such, convalescent plasma therapy remains an essential option for treating severe infectious diseases, propelling the market forward.
Healthcare Infrastructure Fuels Expansion
The growth of healthcare facilities worldwide, particularly the increase in hospitals, directly impacts the convalescent plasma therapy market. Improved healthcare infrastructure signifies enhanced capabilities for plasma collection and treatment administration, both of which concurrently increase the therapy's accessibility and drive market expansion.
Regulatory Challenges
Conversely, the convalescent plasma therapy market faces challenges stemming from stringent regulatory guidelines, particularly around the emergency investigational use of such treatments. Government authorities have issued precise protocols for the administration of plasma therapy, which could potentially restrain market growth.
Emerging Opportunities in Immunotherapy
Industry experts point to valuable opportunities in the field of antibody-based immunotherapy for conditions such as COVID-19. Investments in and focus on researching antibody-stimulating treatments signal promising developments that may bolster the convalescent plasma therapy market in the near future.
Global Outlook
North America leads the convalescent plasma therapy market, followed by Western Europe, reflecting extensive market demand and a developed healthcare infrastructure. The report forecasts that these regions, along with Asia-Pacific, Eastern Europe, South America, the Middle East, and Africa, will continue to contribute significantly to the market's expansion.
This press release presents an overview of the critical dynamics shaping the convalescent plasma therapy market globally. It encompasses market drivers, restraints, and emerging trends that stakeholders, healthcare professionals, and policy-makers should consider in strategic decision-making processes. The convalescent plasma therapy market continues to reflect a landscape of opportunity and challenge, indicative of a healthcare sector in dynamic evolution.
A selection of companies mentioned in this report includes, but is not limited to:
- Bio Farma
- Hilton Pharma Ltd.
- Biotest AG
- BPL Ltd.
- LFB SA
- Octapharma AG
- CSL Behring LLC
- Takeda Pharmaceutical Company Ltd.
- Orthosera Kft.
- ADMA Biologics Inc.
- GC Biopharma Corp
- Grifols S.A
- Sanquin Plasma Products B.V.
- America's Blood Centers
- Blood Centers of America Inc.
- Anthem Inc.
- Laboratory Corporation of America Holdings
- Cerus Corporation
- Emergent BioSolutions Inc.
- Kedrion Biopharma Inc.
- New York Blood Center
- Blood Systems Inc.
- OneBlood Inc.
- Gulf Coast Regional Blood Center
- Bloodworks Northwest
- Blood Assurance Inc.
- New York Blood Center Inc.
- Honolulu Blood-Plasma Bank
- Community Blood Center
- LifeStream Blood Bank
For more information about this report visit https://www.researchandmarkets.com/r/vu3zu1
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
