Plasma Fractionation Market worth $39.5 billion by 2025 - Exclusive Report by MarketsandMarkets™
CHICAGO, Sept. 10, 2020 /PRNewswire/ -- According to the new market research report "Plasma Fractionation Market By Product [IVIG, Albumin, Factor VIII, von Willebrand Factor, PCC, Protease Inhibitor], Application (Immunology, Hematology, Critical Care, Rheumatology, Pulmonology), End User (Hospitals & Clinics) & Region- Global Forecast to 2025", published by MarketsandMarkets™, the global Plasma Fractionation Market is projected to reach USD 39.5 billion by 2025 from USD 28.6 billion in 2020, at a CAGR of 6.7% during the forecast period.
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The growing use of immunoglobulins in various therapeutic areas, increase in plasma collection (and the number of plasma collection centers), rising geriatric population and the growing prevalence of respiratory diseases and alpha-1-antitrypsin deficiency (AATD) are the major factors driving the growth of this market.
In 2019, the immunoglobins segment accounted for the largest share of the plasma fractionation market
Based on product, the market is segmented into immunoglobulins, coagulation factor concentrates, albumins, protease inhibitors, and other products. Immunoglobulins accounted for the largest share of the global market in 2019. The large share of this segment is primarily attributed to the rising prevalence of neurological and immunological diseases, increasing off-label indications of IVIg, and growing use of SCIg due to its ease of administration and reduced administration time.
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The pulmonology segment is expected to grow at the highest CAGR during the forecast period
Based on application, the market is segmented into neurology, immunology, hematology, critical care, pulmonology, hemato-oncology, rheumatology, and other applications. In 2019, the pulmonology segment is expected to register the highest CAGR during the forecast period. Growth in this market segment is driven largely by the rising prevalence of alpha-1 antitrypsin deficiency and chronic obstructive pulmonary disease (copd).
North America was the largest regional market for plasma fractionation market in 2019
The global market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2019, North America accounted for the largest share of the market, followed by Europe and the Asia Pacific. The large share of North America in the global market is attributed to the growing use of immunoglobulins in various therapeutic areas, growing geriatric population, and the increasing prevalence of respiratory diseases and AATD. However, the market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. This can be attributed to the growth in the overall healthcare industry, increasing number of hemophilic patients, increasing number of organ transplantations, increasing focus on diagnosis and prophylactic treatment, increasing awareness about technologically advanced products, and improving the standard of living in several APAC countries.
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The plasma fractionation market is an oligopolistic market. The prominent players operating in this market include CSL (Australia), Grifols (Spain), Shire (Ireland), and Octapharma (Switzerland), Kedrion (Italy), Biotest (Germany), Sanquin (Netherlands), China Biologic Products (UK), Japan Blood Products Organization (Japan), Green Cross Corporation (South Korea), Shanghai RAAS Blood Products (China), Beijing Tiantan Biological Products (China), and Bharat Serums and Vaccines Limited (India).
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