Pune, India, Dec. 06, 2021 (GLOBE NEWSWIRE) -- The global plasma fractionation market size is expected to showcase significant growth by reaching USD 51.83 billion by 2028. This information is published in a report by Fortune Business Insights, titled “Plasma Fractionation Market, 2021-2028.” The report further mentions that the market stood at USD 29.10 billion in 2020 and is likely to exhibit a CAGR of 6.9% between 2021 and 2028. This is attributable to the factors such as the increasing adoption of immunoglobulin and the growing focus on introducing advanced treatment solutions is expected to boost the demand for the product worldwide.
Industry Development:
- March 2020 – Houston Methodist Hospital became the first-ever hospital to try blood transfusion therapy with the help of a patient recovered from the COVID-19. The individual donated his blood plasma for the transfusion termed as convalescent serum therapy.
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Market Exhibited a Stellar Growth Rate of 14.4% in 2020; High Demand for Plasma Witnessed Worldwide
In the initial phases of the outbreak of the COVID-19, patients globally were administered with blood plasma therapy to ensure complete recovery in the absence of specific treatment against the pandemic. Besides, the positive response shown by the plasma procedure in the management of disease has bode well for the growth of the market. Owing to this the market exhibited a growth rate of 14.4% in 2020 and is further expected to showcase significant growth in the forthcoming years.
Market Segmentation:
Based on product, the market is divided into immunoglobulin, albumin, coagulation factors, protease inhibitors, and others.
- On the basis of product, the immunoglobulin segment held a global plasma fractionation market share of about 51.9% in 2020. The segment is expected to dominate due to the increasing adoption of immunoglobulin to reduce the effect of inflammatory conditions among patients globally.
Based on the application, the market is classified into immunology & neurology, hematology, critical care, pulmonology, and others. Moreover, on the basis of end-user, the market is categorized into hospitals & clinics, research laboratories, and others. Lastly, on the basis of region, the market is segregated into North America, Europe, Latin America, Asia Pacific, and the Middle East and Africa.
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Increasing Adoption of Immunoglobulin to Promote Growth
Immunoglobulin is effective in managing, treating, and diagnosing several metabolic diseases. It is a glycoprotein molecule that is derived by plasma fractionation and acts as an antibody. The growing investments in R&D and study to treat Alzheimer’s and other autoimmune disorders therapies is expected to propel the adoption of the product. Besides, it is likely to offer lucrative business opportunities for the players. Moreover, the high utilization of immunoglobulin owing to its superior advantages is expected to contribute to the global plasma fractionation market growth in the forthcoming years.
North America to Remain Dominant; Presence of Advanced Healthcare Infrastructure to Aid Growth
Among all the regions, North America is expected to remain at the forefront and hold the highest position in the market in the forthcoming years. This is attributable to the presence of advanced healthcare infrastructure and favorable government regulations that is likely to propel the demand for the product in the region. North America stood at USD 12.55 billion in 2020.
On the other hand, Europe is expected to hold the second position in the market in the forthcoming years. This is owing to the increasing investment in the development of plasma fractionation systems and the increasing prevalence of rare diseases in the region between 2021 and 2028.
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List of the Companies Profiled in the Global Market:
- CSL (U.S.)
- Grifols, S.A(Spain)
- Baxter (U.S.)
- Kedrion S.p.A (Italy)
- Octapharma (Switzerland)
- Shire- Part of Takeda Pharmaceutical Company Limited (U.S.)
- Biotest AG (Germany)
- LFB (France)
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