Global Plasma Protein Therapeutic Market is Expected to Reach at a CAGR of 6.12% from 2018 to 2025
A new research report published by Fior Markets with the title Global Plasma Protein Therapeutic Market by Product (Immunoglobulin, Albumin, Plasma Derived Factor Viii, Others), Application, Region and Global Forecast 2018-2025.
As per the report, 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. North America is expected to dominate the market during the forecast period. 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.
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Key players operating in the market include 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.Aamong others. Manufacturers are focusing on collaborations for expansion of their product portfolio and conducting clinical trials 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. Moreover, in August 2018, Grifols S.A. acquired 24 plasma donor centers in the U.S. These are operated by Biotest AG.
Product segment includes albumin, Immunoglobulins (IG), plasma-derived factor VIII, and others. The immunoglobulin segment is dominating the 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. 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.
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 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.
About the report:
The global plasma protein therapeutic market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). 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, and competitor position grid analysis.
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- CDN Newswire