Plasma Fractionation Market is Anticipated to Reach US$ 33,763.10 Mn by 2026, Says TMR
ALBANY, New York, August 21, 2018
ALBANY, New York, August 21, 2018 /PRNewswire/ --
Transparency Market Research (TMR) has published a new report titled, "Plasma Fractionation Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026". According to the report, the global plasma fractionation market was valued at US$ 18,420.00 Mn in 2017 and is projected to expand at a CAGR of 7.1% from 2018 to 2026. Rising demand for plasma proteins, increasing investment in innovation and rising prevalence of rare diseases across the world are major factors that are expected to propel the global plasma fractionation market. Asia Pacific is regarded as an emerging market for plasma fractionation owing to the presence of a large patient population, poor infrastructure, and low awareness about plasma fractionation products among the people in the region.
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Rising demand for plasma proteins to augment market
Immunoglobulins are an integral part of plasma proteins. There has been a rise in the number of indications that utilize immunoglobulins. IG has become an important treatment option in a number of clinical indications beyond primary immunodeficiency, including autoimmune and acute inflammatory conditions. Plasma-derived IG is utilized for a wide range of autoimmune and inflammatory diseases. Increased recognition and treatment of immune deficiencies in the developing world has fueled the global demand for IG. However, increased usage of high dose therapy, particularly in autoimmune neurologic diseases, is a major reason for the continued strong demand for IG products. Increase in global demand for immunoglobulins is expected to boost the global plasma fractionation market during the forecast period.
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Increasing investment in innovation
The plasma fractionation industry has been investing in research and development of new plasma proteins therapies (e.g.: Ceruloplasmin, IgA, Plasmin) leading to innovative treatments for the benefits of patients. In March 2016, Grifols announced that it would invest US$ 360 Mn to expand its production capabilities for plasma-derived therapies. The investment is estimated to increase the capacity of plasma fractionation and purification of several proteins. This has been also evident from advancements such as product presentations (e.g. subcutaneous IG, IVIG 10% concentration, and IVIG liquid presentation), manufacturing processes (e.g. improvement of yield), added virus elimination technologies (e.g. nanofiltration), and development of new plasma proteins (e.g. protein C and purified factor V). Moreover, rising investments in innovation leads to technological advancements in efficient and cost-effective procedures for fractionating proteins from plasma, which in turn boosts the plasma fractionation market
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Growing market penetration by recombinant factors restrains market
Manufacturers are increasingly developing recombinant proteins, which would cannibalize the sales of plasma derived proteins owing to the high safety associated with recombinant protein therapy. The impact is more prominent in the hemophilia treatment market, where recombinant products are affordable and widely employed. This is expected to impact the sales of plasmatic coagulation factors during the forecast period.
North America accounts for significant share to the global plasma fractionation market
North America accounted for a prominent share of the global market in 2017. Rise in prevalence of different kinds of infectious diseases (cholera, influenza, and syphilis) and increase in demand for plasma fractionation products such as immunoglobulins, albumin and coagulation factors are projected to propel the plasma fractionation market. Additionally, advancements in technology for plasma fractionation in North America boosts the global market. Furthermore, improvement in primary and secondary healthcare services such as chronic degenerative disease, ambulatory service, private duty nursing, skilled nursing, and physical therapy also propel the demand for plasma fractionation in the region.
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GRIFOLS, CSL Limited and Advanced Baxter International Inc., to lead market due to strategic acquisitions and product development
The report also provides profiles of leading players operating in the global plasma fractionation market such as Sanquin, Biotest AG., Kedrion, Octapharma and China Biologic Products Holdings, Inc.
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