New York, USA, June 07, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global plasma fractionation market. According to the report, the global market is projected to surpass $56,870.10 million and grow at a CAGR of 7.2% in the estimated period, 2022-2031. This all-inclusive report delivers a comprehensive overview of the current and future situation of the plasma fractionation market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Plasma Fractionation Market
The outburst of the COVID-19 pandemic in 2020 has had an adverse impact on the growth of the global plasma fractionation market. The COVID-19 pandemic decreased plasma and blood collections, which hindered market expansion. Moreover, the shortfall in raw material supply was offset by a decline in need for plasma derivatives when the national lockdowns started, as elective operations were postponed and the treatments for other medical diseases were also affected. These factors significantly hindered the market growth amidst the pandemic.
Factors Impacting the Plasma Fractionation Market Growth
The key factor boosting the growth of the global plasma fractionation market is a significant rise in the need for plasma fractionation due to a growth in the usage of alpha-1-antitrypsin and immunoglobulins across several medical specialties worldwide. Furthermore, the risk of inflammatory diseases in people is rising because of lifestyle decisions such as fast food, alcohol, and tobacco consumption, which is estimated to unlock lucrative opportunities for market growth in the forecast period. However, an increase in the usage of recombinant drugs to treat autoimmune illnesses, such as protease inhibitors and fibrinogen concentrations, is anticipated to deter the market’s growth.
The report segments the global plasma fractionation market into product, application, end user, and region.
Immunoglobulin Sub-Segment to Grab a Foremost Share of the Market
The immunoglobulin sub-segment of the product segment is foreseen to observe leading growth in the forecast period. This growth is mainly due to an increase in the number of plasma collection facilities, an expansion in the use of immunoglobulins in a variety of therapeutic settings, and numerous activities by significant market competitors.
Neurology Sub-Segment to Grab a Leading Share of the Market
The neurology sub-segment of the application segment is expected to observe leading growth in the plasma fractionation market during the forecast period. This growth is mainly due to the rise in the incidence of neurological disorders in the older population around the globe, which increases the risk of neurovascular diseases like stroke.
Hospitals & Clinics Sub-Segment to Witness Rapid Growth
The hospitals & clinics sub-segment of the end user segment is predicted to grow enormously in the forecast period. This growth is mainly due to an upsurge in the off-label usage of plasma fractionation products in hospitals to treat a variety of illnesses, enhanced infrastructure, and hospital-based healthcare services.
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North America Market to Perceive Maximum Growth
The report analyzes the global plasma fractionation market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth in the estimated period. This growth is mostly due to the increase in the incidence of different genetic diseases, the rise in healthcare expenditure, and the growth of the geriatric population in this region.
Key Players of the Global Plasma Fractionation Market
The report states some of the foremost players operating in the market including
- Octapharma AG
- Kedrion S.P.A
- LFB Group
- Japan Blood Products Organization
- CSL Behring
- Grifols
- Biotest AG S.A.
- Takeda Pharmaceutical Company Limited
- China Biologic Products Holdings Inc.
- Bio Products Laboratory Ltd.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
For instance, in September 2019, Biopharma, a Ukrainian biotech business that specializes in developing pharmaceuticals from donated human blood plasma, launched an innovative $75 million plasma fractionation facility in Ukraine.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Plasma Fractionation Market:
- A Quick Look at the Three Effective Plasma Fractionation Techniques Used Today
- Global Plasma Fractionation Market to Generate $56,870.10 Million by 2031, Owing to An Increase in Use of Immunoglobulin for Treatment of Various Diseases
