LOS ANGELES, May 19, 2021 (GLOBE NEWSWIRE) -- The Global Blood Plasma Derivatives Market is expected to grow at a CAGR of around 9.5% from 2020 to 2027 and reach the market value of over US$ 50.3 Bn by 2027.
North America is expected to dominate the global blood plasma derivatives market, followed by Europe. The market in North America is being driven by rising awareness about the use and availability of plasma derivatives for the treatment of infectious diseases. Europe is the second-largest market for blood plasma derivatives after the United States. Advanced research on safe blood transfusion conducted by various health care institutes fuels the market's growth in Europe.
Asia Pacific, on the other hand, is shown to have the fastest growing CAGR during the analysis period. This is because of the large population base, increased disposable income, and increased patient awareness of plasma derivatives. Furthermore, Asia is a large continent that has emerged as a hotspot for life-threatening diseases, which contributes to the growth of the global blood plasma derivatives market.
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Growth Factors
The advancement and development of better methods for preserving these blood plasma derivatives, as well as newer and developed fractionation procedures, drive the growth of the global blood plasma derivatives market. Furthermore, the increasing prevalence of life-threatening diseases such as HIV, hepatitis, and hemophilia creates a demand and opportunity in the global blood plasma derivatives market. Furthermore, various government and non-governmental organization initiatives to conduct and promote blood donation camps have resulted in an increase in the collection of human blood. This is fueling the global blood plasma derivatives market's expansion.
Segmental Outlook
The global blood plasma derivatives market is segmented based on type, application, and end-user. By type, the market is segmented as albumin, factor 8, factor 9, immunoglobulin, hyperimmune globulin, and others. Based on application, the market is segmented as hemophilia, hypogammaglobulinemia, immunodeficiency diseases, von willebrand's disease (VWD), and other applications. Further, end-user is segregated as hospitals, clinics, and other end-users.
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Based on type, the immunoglobulin segment has held the dominant market share in the past and is expected to continue in the coming years. Furthermore, by application, immunodeficiency diseases accounted for the highest growth rate in the past and will continue to do so during the forecast period. Depending on the end-user, hospitals have historically held the dominant market share and are expected to grow at the fastest rate during the analysis period.
Competitive Landscape
The major players involved in the blood plasma derivatives market involve Grifols, S.A., SK Plasma, Fusion Healthcare, Biotest AG, GC Pharma [Green Cross Corporation], Baxter International Inc., LFB S.A., Octapharma AG, CSL Limited, Shire plc, and among others
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Some of the key observations regarding the blood plasma derivatives industry include:
- In March 2020, Grifols, S.A., announced collaboration with United States Biomedical Advanced Research Development Authority (BARDA), the Food and Drug Administration (FDA). The collaboration enhances formal collaboration with the United States Biomedical Advanced Research Development Authority (BARDA), the Food and Drug Administration (FDA) and other Federal public health agencies to collect plasma from convalescent COVID-19 patients, process this specific plasma into a hyper immune globulin and support the necessary preclinical and clinical studies to determine if anti-SARS-CoV-2 hyper immune globulin therapy can successfully be used to treat COVID-19 disease.
- In April 2020, Biotest, BPL, LFB, and Octapharma have joined an alliance formed by CSL Behring and Takeda Pharmaceutical Company Limited to develop a potential plasma-derived therapy for treating COVID-19. The alliance will begin immediately with the investigational development of one, unbranded anti-SARS-CoV-2 polyclonal hyperimmune immunoglobulin medicine with the potential to treat individuals with serious complications from COVID-19.The collaboration will leverage leading-edge expertise and work that the companies already have underway. Experts from the alliance will begin collaborating across key aspects such as plasma collections, clinical trial development and manufacturing. Further companies and institutions may join the alliance as well.
- In January 2019, Shire plc, announced acquisition with Takeda Pharmaceutical Company Limited. The completion of its acquisition of Shire plc (“Shire”), becoming a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan.
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