New Jersey, NJ, Aug. 06, 2019 (GLOBE NEWSWIRE) -- High demand for advanced therapeutic options and development of novel products which offer clinical benefits for various genetic disorders are anticipated to drive the growth in the assessment period. The global plasma protein therapeutic market is expected to grow from USD 24.12 Billion in 2017 to USD 39.91 Billion by 2025 at a CAGR of 6.12% during the forecast period from 2018-2025, according to the new report published by Fior Markets.
Plasma proteins are therapeutics proteins which are engineered in the laboratory for pharmaceutical use. Plasma proteins are used in the treatment of conditions, such as deficiency of a coagulation factor in case of haemostasis. This deficiency can be genetic or due to autoimmune disorder. Majority of these proteins are recombinant monoclonal antibodies. These proteins are highly effective and are used for modernized treatment of rare and chronic diseases. Protein therapeutics offer custom-made treatment approach with specifically targeted therapeutic process to fulfil the requirement of deficiency of an essential protein. Recombinant proteins have gained significant pace for therapeutic applications and the number of proteins either launched or approved into clinical trials has increased over the past two decades. According to the report of National Center for Biotechnology Information (NCBI) in 2017, the U.S. Food and Drug Administration (FDA) approved over 140 recombinant therapeutic proteins for human use and several are currently in development phase.
Technological advancements, rise in geriatric population, favourable reimbursement policies, and improved standard of living have led to increased life expectancy are driving the market. In addition, advancements in recombinant therapeutic drugs are expected to strengthen the recombinant therapeutic antibodies and proteins market. Changing regulatory requirements and lack of skilled professionals may restrict the growth of the plasma protein therapeutic market. However, governments supporting research and development of novel products due to rapid advancements in biomedical science and technology to address unmet medical needs are driving the market in future.
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Key players operating in the global plasma protein therapeutic market include Octapharma AG, CSL Behring LLC, Grifols S.A., Bayer AG, Shire Plc, Kedrion S.P.A., Amgen Inc., Eli Lilly and Company, Abbott, Biogen Inc., F. Hoffmann-La Roche, Merck & Co., Novo Nordisk, Pfizer Inc., Sanofi S.A among others. In order to enhance their market position in the global plasma protein therapeutic market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership..
- Competitors are focusing on collaborations to enhance product portfolio and increase regional presence to increase their market share. For instance, in June 2016, Shire Plc acquired Baxalta. Through this deal, Shire acquired Baxalta’s product portfolio and a strong pipeline for the treatment of rare diseases.
- For instance, in June 2016, Shire Plc acquired Baxalta. Through this deal, Shire acquired Baxalta’s product portfolio and a strong pipeline for the treatment of rare diseases. Moreover, in August 2018, Grifols S.A. acquired 24 plasma donor centers in the U.S. These are operated by Biotest AG.
- Market participants are engaged in the development and introduction of novel products for successful disease diagnosis. For instance, in March 2018, CSL’s Hizentra, which is the first and only subcutaneous immunoglobulin therapy received an approval from the Food and Drug Administration (FDA). This is used in the treatment of Chronic Inflammatory Demyelinating Polyneuropathy (CIDP).
The immunoglobulin segment is dominating the market and is anticipated to grow with the highest CAGR of 8.42% over the forecast period
Product segment includes albumin, Immunoglobulins (IG), plasma-derived factor VIII, and others. The immunoglobulin segment is dominating the global plasma protein therapeutic market and is anticipated to grow with the highest CAGR of 8.42% over the forecast period. Approval of biologics for multiple indications, easy administration process and less treatment cost are fuelling the growth of the market.
The primary immunodeficiency segment is dominating and was valued around USD 11.33 billion in 2017
Application segment is divided into hemophilia, primary immunodeficiency diseases (PID), idiopathic thrombocytopenic purpura (ITP), and others. The Primary immunodeficiency segment is dominating and was valued around USD 11.33 billion in 2017. More than 6.0 million individuals are living with a PID worldwide. Increasing development of clinical applications for immunoglobulins and approval of SCIGs are driving the growth of the segment.
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Region Segment Analysis of the Asd Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
North America region dominated the global plasma protein therapeutic market with USD 14.47 Billion in 2017 where as Europe held second position in the forecast period. North America dominated the market owing to presence of large patient base and availability of well-developed infrastructure for storing and maintaining high-quality source plasma are major factors driving the growth of the market. Europe held the second largest share due to increased adoption of novel therapeutics, rising disease prevalence and high R&D investment serve as high growth drivers.
About the report:
The global plasma protein therapeutic market is analysed on the basis of value (USD Billion). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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