New York, USA, July 26, 2021 (GLOBE NEWSWIRE) -- According to a recent report by Research Dive, the global plasma therapy market is forecasted to reach $432.8 million by the end of 2026, from $131.9 million in 2018. The comprehensive report provides a brief overview of the current scenario of the market, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures, which makes it easier and more beneficial for the new participants to understand the real-time scenario of the market.
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Factors Impacting the CAGR Figures Pre and during COVID-19
The report reveals the real-time CAGR registered by the market during the pandemic. According to the report, the plasma therapy market is estimated to record a CAGR of 16.3% during the forecast period, while it was expected to be only 14.6% in the pre-COVID-19 scenario. The main factor behind this growth is the demand and effectiveness of plasma therapy for the patients infected by the coronavirus.
Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario
According to the report, the real-time market size has been increased compared to the pre-COVID-19 estimations. The real-time market size has reached a revenue of $178.2 million in 2020, while it was expected to be $171.7 million in a pre-Covid analysis. Plasma therapy has been proved effective as a treatment to the patients with mild symptoms, which has improved the demand of the plasma therapy in the highly-infected countries with the coronavirus. This is one of the major attributes enhancing the growth of the market during the pandemic.
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Pure platelet-rich plasma (PRP) type is anticipated to dominate the market in the near future
The global market has been divided on the basis of type into pure platelet-rich plasma (PRP), leucocyte-rich PRP, leukocyte-rich fibrin and pure platelet-rich Fibrin. Among these, pure PRP accounted for the significant plasma therapy market size in 2018; it was over $50.1 million and is projected to grow at a faster rate of 16.7% CAGR during the forecast years. The wide utilization of pure PRP in the treatment of neurosurgery, cosmetic surgery, orthopedics/spinal surgery and many other surgeries due to its cost effective compared other therapies, which will fuel the growth of the market.
Allogeneic source segments will be the most lucrative in the coming years
By source, the global market has been segmented into allogeneic and autologous. In both of these, autologous source segment generated largest market share in 2018 and is projected to generate a revenue of $298.6 million by 2026. This command over the global market is majorly owing to autologous biologics having a major role in the treatment to enhance tissue repair and generation along with healing of chronic and recalcitrant wounds. The allogeneic source will experience a significant growth and is estimated to rise at a healthy CAGR of 16.8% in the projected period. Growing utilization of allogeneic source type in bone defect treatment due to great healing efficacy, potentially consistent quality and other benefits, is expected to enhance the market growth.
Post Pandemic Insight
The plasma therapy market is expected to sustain its growth post the pandemic because of its demand during the ongoing pandemic. The market will experience steady growth in upcoming years as the governments are expected to invest more in the industry. Application of plasma therapy in hemorrhagic transformation in acute ischemic stroke is another factor expected to enhance the growth of the market.
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Key Players of the Market
The most prominent players of the market include
- Grifols, S.A.
- Bio Products Laboratory Ltd
- Cambryn Biologics, LLC
- Kedrion S.p.A
- CSL Limited
- BioLife PLASMA SERVICES
- Biotest AG
- China Biologic Products Holdings, Inc.
- Octapharma AG
among many more. These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.
In March 2021, BioLife Plasma Services, a global biopharmaceutical company, began a new plasma center in Deptford to help meet the urgent need for plasma donations during the pandemic. Plasma donations received at BioLife centers are used by Takeda for therapies that treat a range of rare and complex conditions for which there is often no other treatment.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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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