Redding, California, March 23, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Plasmapheresis Market by Product (Instruments, Disposables), Technology (Membrane Filtration, Centrifugation), Application (Therapeutic [Immunology, Neurology, Hematology], Plasma Collection), End User (Biopharma, Hospitals) - Global Forecast to 2030,' published by Meticulous Research®, the plasmapheresis market is projected to reach $2.55 billion by 2030 at a CAGR of 8.6% from 2023 to 2030.
Plasmapheresis is the process of separating plasma from the blood cells in the whole blood. It is done to replace the plasma from an individual’s blood for therapeutic purposes or to extract plasma from the blood of a healthy individual. During the therapeutic exchange of plasma, an individual’s plasma is separated from the blood cells, and then the cells are mixed with a liquid to replace the plasma and are returned to the body. Therapeutic exchange of plasma is used to treat various autoimmune diseases such as thrombotic thrombocytopenic purpura, myasthenia gravis, Guillain-Barré syndrome, and multiple sclerosis, among others.
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The plasmapheresis market is driven by the rising incidence of autoimmune diseases, increasing demand for source plasma from biopharmaceutical companies, and favorable reimbursement policies for plasmapheresis procedures. Furthermore, the rising demand for plasmapheresis from emerging countries is expected to provide significant opportunities for the growth of this market.
However, the high cost of plasmapheresis devices & procedures and the risks associated with plasmapheresis procedures are expected to hinder the growth of this market to a certain extent. In addition, factors such as the lack of awareness about plasmapheresis procedures and limited access and availability in certain regions are the major challenges to market growth.
The Impact of COVID-19 on the Plasmapheresis Market
In the initial stages of the COVID-19 pandemic, the treatment for the disease was largely limited to general supportive care, with the provision of critical care as no approved therapies were available. Many countries started adopting plasma therapy to treat COVID-19. Convalescent plasma treatment involves injecting the COVID-19 patient with the convalescent sera of people who have recently recovered from the COVID-19 infection. The serum of COVID-19-cured individuals has virus-neutralizing antibodies that can act as a passive antibody therapy.
Companies and government organizations undertook various initiatives to expand the use of plasma due to its benefits. For instance, in August 2020, Kedrion S.p.A. (Italy) started developing a plasma-derived therapy for COVID-19 to make it available to patients in three to six months. The company worked in close collaboration with hospitals from some of the most COVID-infected regions of Italy. Similarly, in June 2020, Kamada Ltd. (Israel) launched the first batch of its plasma-derived Hyper-immune IgG product for COVID-19. The product is available for compassionate use treatment in Israel. Thus, the COVID-19 pandemic accelerated the utilization of plasmapheresis all over the world, thereby having a positive impact on this market.
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The plasmapheresis market is segmented based on product, technology, application, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on product, in 2023, the disposables segment is expected to account for the largest share of the plasmapheresis market. The large market share of this segment is attributed to the recurrent demand for disposables such as plasma separation filters and administration sets, the increased number of plasma donations, and growing awareness about therapeutic applications of plasmapheresis.
Based on technology, in 2023, the centrifugation segment is expected to account for the largest share of the plasmapheresis market. the large market share of this segment is attributed to the advantages of centrifugation technology to separate plasma, such as higher efficiency and low treatment time, which has led to greater adoption of this technology by instrument manufacturers.
Based on Application, in 2023, the source plasma collection segment is expected to account for the largest share of the plasmapheresis market. The large market share of this segment is attributed to the increased demand for source plasma from biopharmaceutical companies for its therapeutic applications in immunology, hematology, neurology, critical care, hematology-oncology, and rheumatology orthopedics, among others.
Based on End User, in 2023, the blood banks & plasma collection centers segment is expected to account for the largest share of the plasmapheresis market. the large market share of this segment is attributed to the increased number of plasma donations, growing awareness regarding the therapeutic applications of plasmapheresis, and the growing number of blood collection centers.
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Based on geography, in 2023, North America is expected to account for the largest share of the plasmapheresis market, followed by europe, and asia-pacific. north america’s large market share is primarily attributed to its well-established healthcare system, higher adoption of advanced medical technologies such as apheresis to ensure patient safety, favorable government regulations and reimbursement policies associated with therapeutic plasma exchange, and easy accessibility to advanced products due to the presence of key players in the region. However, Asia-Pacific is slated to record the highest CAGR in the plasmapheresis market during the forecast period. The growth of this market is driven by the rapidly growing healthcare sector, rising demand for plasma-derived products, and the growing medical tourism industry in the region.
The report includes an extensive assessment of the market based on product, technology, application, end user, and geography. The study also provides valuable insights into the key growth strategies adopted by major market players in the last three to four years. In recent years, the plasmapheresis market has witnessed numerous product launches, agreements, collaborations, partnerships, and acquisitions.
The key players profiled in this market study are Asahi Kasei Corporation (Japan), Terumo Corporation (Japan), Baxter International Inc. (U.S.), B. Braun Melsungen AG (Germany), SB-Kawasumi Laboratories, Inc (Japan), Kaneka Corporation (Japan), Haemonetics Corporation (U.S.), Fresenius SE & Co. KGaA (Germany), Shanghai Dahua Medical Apparatus Co., Ltd. (China), and Infomed SA (Switzerland).
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Scope of the Report:
Plasmapheresis Market, by Product
- Instruments
- Disposables
Plasmapheresis Market, by Technology
- Membrane Filtration
- Centrifugation
Plasmapheresis Market, by Application
- Source Plasma Collection
- Therapeutic Plasmapheresis
- Immunology
- Neurology
- Hematology
- Critical Care
- Hematology-oncology
- Rheumatology & Orthopedics
- Other Therapeutic Applications
(Note: Other therapeutic applications primarily include the management of respiratory diseases and wound healing.)
Plasmapheresis Market, by End User
- Blood Banks & Plasma Collection Centers
- Hospital & Clinics
- Biopharmaceutical Companies
- Other End Users
(Note: Other end users primarily include mobile plasmapheresis centers, research institutes, and government organizations.)
Plasmapheresis Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Switzerland
- Rest of Europe (RoE)
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
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