New York, July 31, 2023 (GLOBE NEWSWIRE) -- The global plasma fractionation market size is slated to expand at ~7% CAGR between 2023 and 2033. The market is poised to garner a revenue of USD 37 billion by the end of 2033, up from a revenue of ~USD 26 billion in the year 2022. The growth of the market can be attributed to the increasing prevalence of bleeding disorders across the globe. It was found during one of the medical research studies that more than 3 million people across the world are suffering from a bleeding disorder.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4548
Further, bleeding disorder is slowly becoming a chronic illness as the body loses control over normal blood clotting function, which can result in excessive blood loss that can lead to fatality. Hence, the plasma fractionation method is often employed in this disorder to provide the required level of protein and plasma to the patients to obstruct the excessive bleeding and stabilize the blood clotting process. Therefore, the growing adoption of this treatment is predicted to drive market growth over the years to come. In addition to this, the market is predicted to gain significant acceleration during the projected time frame owing to the rising efforts by governments and key market players to open more blood plasma centers in order to fight back the shortage of plasma, to make it more accessible for the people, and to make the plasma treatment pocket friendly. For instance, one of the leading plasma fractionation companies, Grifols, inaugurated its 300th plasma donation site in the USA in November 2021.
Global Plasma Fractionation Market: Key Takeaways
- Market in Europe to capture maximum share
- Neurology sub-segment to remain prominent in the application segment
- Hospitals segment to gain significant share
Increasing Incidences of Infectious Diseases to Drive Market Growth
The growth of the market can be attributed to the rising prevalence of infectious diseases and the high usage of plasma therapy to cure these diseases across the world. Furthermore, infectious or communicable diseases are becoming very common nowadays owing to various environmental factors, increasing human contact, and rising contact between humans and animals. There are several types of infectious diseases, and the most prevalent among them in recent times is influenza and COVID-19. It was noted that as of January 2023, there were 660,131,952 confirmed cases of COVID-19, including 6,690,473 deaths. Additionally, it was observed that in COVID-19 patients, abnormal blood clotting and protein abnormalities are very common, and they are often recommended by medical professionals to undergo plasma therapy, which in turn is predicted to accelerate market growth. Moreover, the significant spending on health care and the rising cost of plasma therapy are predicted to boost market growth over the forecast period. It was found that the cost of plasma therapy varies based on the location and economic standards of the regions. For instance, the cost of plasma therapy in developed nations ranges between 500 USD ~ 2100 USD whereas in low- and middle-income countries, the cost of plasma infusion treatment is as high as 5000 USD ~ 11,000 USD.
Global Plasma Fractionation Market: Regional Overview
The global market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rising Immunodeficiency Disease Prevalence to Drive Growth in Europe
The plasma fractionation market in Europe is estimated to garner the largest revenue by the end of 2033. The market's expansion can be attributed to the region's rising immunodeficiency prevalence, which is aided by an aging population that is more vulnerable to immunodeficiency diseases. It was observed that around 39% of the population in Europe suffers from one or more kinds of immunodeficiency diseases. Additionally, in the case of immunodeficiency diseases, the body does not produce the required antibodies, which leads to chronic fatalities. Hence, plasma therapy is used to treat this disease, wherein the plasma, mainly immune globulin, is infused into the patient’s body to generate antibodies to protect them against infections. Furthermore, the rising healthcare expenditure in the leading countries, including France and Germany, is predicted to propel market growth during the forecast period. For instance, in 2020, the EU Member States with the greatest healthcare spending as a percentage of GDP were Germany (12.8%) and France (12.2%). Moreover, the rising investment by key market players to develop next-generation healthcare infrastructure and open more plasma fractionation centers in the region is expected to provide lucrative opportunities for market growth over the ensuing years.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4548
Increased Hemophilia Cases to Drive Growth in the North American Region
The plasma fractionation market in the North American region is estimated to garner highest CAGR by the end of 2033. The growth of the market can be attributed to the rising number of plasma therapy centers, backed by the increasing number of hemophilia patients in the region. It is believed that about 400 babies are born every year with hemophilia disorder in the USA, and with the changing climate conditions and significantly rising genetic mutation instances during birth, this number is predicted to increase further during the forecast period. Furthermore, the rising adoption of unhealthy lifestyles among people, such as excessive alcohol consumption and junk food consumption, as well as exposure to toxic chemicals, is seen as a major contributing factor to the rise in autoimmune disorders in the region, and is expected to drive market growth as autoimmune diseases require plasma replantation or plasma therapy. It was found during one of the studies that more than 69% of autoimmune diseases occur owing to unhealthy lifestyle habits, including obesity and exposure to toxic chemicals, and that 5% to 7% of the US population have autoimmune diseases on account of the mentioned factors.
Global Plasma Fractionation Market, Segmentation by Application
- Immunology
- Hematology
- Critical Care
- Rheumatology
- Neurology
The neurology segment is anticipated to hold the largest revenue by the end of 2033. The growth of the segment can be attributed to the increasing prevalence of neurological disorders. As per the latest UN report, 1 in 6 people around the world has a neurological disorder. Furthermore, several neurological disorders necessitate plasma therapy or plasma-based medications, as plasma therapy aids in the eradication or temporary relief of severe neuro pain. In addition to this, segment growth is also estimated to be positively influenced by the rising prevalence of Guillain–Barré syndrome (GBS), where the body’s immune system attacks the nervous system and causes temporary or permanent disability. It was found during one of the healthcare studies that about 3,000 to 6,000 people in America develop GBS each year, making it one of the most prevalent rare diseases among all age groups. Furthermore, the rising cost burden on various economies in treating neurological diseases, as well as increased investment by various key market players to make plasma-based treatment more effective in diagnosing and treating neurological disorders, are expected to drive segment growth over the forecast period.
Global Plasma Fractionation Market, Segmentation by End-User
- Hospitals
- Clinical Research Lab
- Academic Institutes
The hospital segment is anticipated to capture a significant market share by the end of 2033. The growth of the segment can be attributed to the increasing prevalence of communicable diseases that require hospital care. Additionally, with the rise in COVID-19 communicable disease havoc across the globe, there has been a significant increase in the number of hospitals as most of the people with COVID-19 need plasma therapy, hospital admission, and an ICU facility for treatment and care, which is in turn estimated to drive the segment growth during the forecast period. It was noted that during 2021, around 80% of the US hospital beds and nearly 79% of hospital ICUs were occupied by COVID-19 patients. In addition to this, rising investment in the healthcare sector, growing awareness among people regarding autoimmune diseases, and increasing healthcare expenditure are anticipated to drive segment growth throughout the forecast period. It was found during research that the spending on healthcare in the United States increased by 2.7 percent in 2021 and reached a value of USD 4.3 trillion. Also, spending on healthcare represented about 18.3 percent of the country's GDP. Furthermore, owing to the availability of dedicated medical professionals for plasma therapy and hospital facilities with provisions for arranging, donating, and inducing plasma. Hence, more patients prefer hospital care to home care. Therefore, this rising inclination of people toward hospital care is estimated to propel segment growth during the forecast period.
Purchase Copy of this Report @ https://www.researchnester.com/purchage/purchase_product.php?token=4548
Global Plasma Fractionation Market, Segmentation by Product
- Immunoglobulins (Intravenous, and Subcutaneous)
- Coagulation Factors
- Albumin
Few of the well-known market leaders in the global plasma fractionation market that are profiled by Research Nester are CSL Limited, Grifols, S.A., Takeda Pharmaceutical Company Limited, Kedrion S.p.A, Octapharma AG, Bio Products Laboratory Ltd., Biotest AG, LFB Group, Japan Blood Products Organization, Intas Pharmaceuticals Ltd., and other key market players.
Recent Development in the Global Plasma Fractionation Market
- Gilead Sciences and EVOQ Therapeutics enter a strategic partnership on January 3, 2023. The purpose of the alliance is to expand Gilead Science’s autoimmune disease treatment pipeline by adopting EVOQ Therapeutics’ revolutionary strategy to restore immunological tolerance.
- In September 2021, Bitcoin Biologics Limited and Serum Institute of Life Science Private Limited announced a strategic partnership to commercialize the rights to ship and sell medicine around the world, including the COVID-19 vaccine.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
