Blood Plasma Derivatives Market is Generating Revenue of $44.33 billion by 2023
Pune, Maharashtra, India, September 18 2020 (Wiredrelease) Allied Analytics –:UPDATE AVAILABLE ON-DEMAND
According to the research report published by Allied Market Research, the global blood plasma derivatives market is expected to register a CAGR of 9.3% from 2017 to 2023. The research includes changing market dynamics, top impacting factors, key investment pockets, value chain, and competitive scenario. Through tabular and graphical representation, the report offers key insights on different aspects of the market such as current market size and estimations, region-wise analysis, and opportunities. Porter’s Five Forces analysis has been mentioned in the report to outline competitive intensity. The report is a helpful source of information to unlock potential from emerging countries and expand businesses to gain international presence.
Blood plasma is clear liquid component of blood in which red blood cells, white blood cells, and platelets are suspended. It plays a vital role in maintaining proper pH balance in the body and transporting nutrients throughout the body. It is composed of more than 100 different proteins, including albumin, fibrinogen, immunoglobulins, protease inhibitors, and clotting factors. Plasma derivatives are products that are derived from blood plasma on fractionation, and are widely used to treat variety of diseases. These derivatives include albumin, factor VIII & IX, anti-inhibitor coagulation complex (AICC), immunoglobulins, including Rh immune globulin, alpha 1-proteinase inhibitor concentrate, and anti-thrombin III concentrate.
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The factors that drive the growth of the blood plasma derivatives market include increase in prevalence of life-threatening diseases such as immunodeficiency diseases and hemophilia, rise in awareness towards blood & plasma donation, upsurge in geriatric population, and growth in adoption of blood plasma derivatives products. However, high cost of plasma derivative-based treatment and risk of side effects associated after using plasma derivatives impede the market growth. Conversely, the development of superior methods for preservation of plasma derivatives along with advanced processes for fractionation and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.
The immunoglobulin segment accounted for the largest share in 2016, owing to high usage & applicability for treating variety of immunodeficiency diseases and improved immunoglobulin production due to the emergence of advanced technologies. However, the albumin segment is expected to grow at the high CAGR from 2017 to 2023.
The utilization rate of plasma derivatives for immunodeficiency diseases is high. However, hemophilia segment is expected to grow at a high CAGR during the forecast period. On the basis of end user, the hospitals segment occupied the largest share in 2016, whereas the clinics segment is expected to provide lucrative market opportunities during the forecast period.
North America was the leading revenue contributor to the global blood plasma derivatives market in 2016, and is expected to dominate the market during the forecast period. This is attributed to the early approval of plasma derivatives products and large number of fractionation plants in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards plasma derivatives.
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The Major Key Players Are:
Grifols,S.A., SK Plasma Co., Ltd., Fusion Health Care Pvt. Ltd., Biotest AG, Green Cross Corporation, Baxter International Inc., LFB S.A., Octapharma AG, CSL Limited, and Shire Plc.
The Other Key Players Are:
China Biologic Products, Inc., Kedrion Biopharma, Inc., BDI Pharma, Inc., Bayer AG, and Hualan Biological Engineering, Inc.
Key Findings of the Blood Plasma Derivatives Market:
• The albumin segment accounted for nearly one-sixth share of the global blood plasma derivatives market in 2016.
• The immunoglobulins segment is expected to grow at highest CAGR from 2017 to 2023.
• The immunodeficiency diseases segment accounted for around one-third share of the global market in 2016.
• Europe accounted for around one-third share of the global market in 2016.
• LAMEA is expected to provide lucrative market growth opportunities from 2017 to 2023.
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