Plasma Therapy Market CAGR of 14.1% To Reach US$ 573.04 Million By PRODUCT, APPLICATION, TECHNOLOGY with Professional Outlook Till 2027: Coherent Market Insights
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Plasma Therapy Market, By Type (Pure PRP, Leucocyte-rich PRP, Pure Platelet-rich Fibrin (PRF), and Leukocyte-rich Fibrin (L-PRF)), By Application (Infections Diseases, Dental, Nerve Injury, Cardiac Muscle Injury, and Other Applications), By End-User (Hospitals & Clinics, Research Institutes, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – is estimated to be valued at US$ 226.13 million in 2020 and is expected to exhibit a CAGR of 14.1% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global Plasma Therapy Market – Impact of the Coronavirus (Covid-19) Pandemic
According to the World Health Organization (WHO), on 31st August 2020, 261,790 people were infected by the coronavirus and 850,762 people died from the infection. Therefore, the rapidly increasing number of infected people has led government of many countries to encourage plasma donation from patients who have recovered from the illness. For instance, on 2nd June 2020, The Pentagon, military headquarters of the U.S, launched a drive to collect plasma from the military personnel who had recovered from the infection. In order to simplify the plasma donation process, many companies are creating software for the plasma donation process. For instance, on 21st August 2020, KPMG International Cooperative, a multinational professional services network, launched COVID-19 Convalescent Plasma Donor Matching Solution software. The software matches patients in clinical trials for convalescent plasma therapy with recovered patients who are willing to donate antibodies.
Companies are focusing on inorganic strategies such as collaborations and partnerships to develop potential treatments for coronavirus patients using human plasma. For instance, on 27th April 2020, Kamada Ltd. and Kedrion Biopharma collaborated in order to develop human plasma-derived Anti-SARs-COV-2 (COVID-19) polyclonal immunoglobulin (IgG) product for treatment of patients suffering from coronavirus infection. According to the agreement, Kedrion Biopharma will collect plasma from donors (patients recovered from coronavirus infection). Kamada Ltd. will be responsible for product development, manufacturing and clinical development with the help of Kedrion Biopharma. Post regulatory approval, Kedrion Biopharma will be responsible for commercialization of the product in the U.S, Europe, Australia and South Korea, while, distribution of the product to the rest of the world will be undertaken by Kamada Ltd.
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Regulatory authorities are focused on increasing awareness regarding donation of plasma for development of a new treatment for the coronavirus infection. For instance, the Food and Drug Administration (U.S FDA), in collaboration with the U.S government, research institutes and industries, is spreading awareness about the donation of plasma by recovered patients in the U.S. The donated plasma will be processed further and the antibodies generated against the infection will be injected in the blood of the infected patients. These factors are expected to facilitate the global plasma therapy market growth during the forecast period.
Companies are involved in inorganic activities such as acquisitions to expand their production capacity in the global market. For instance, in 2019, Takeda Pharmaceutical Company Limited acquired Shire Pharma, which led to the expansion of the Takeda Pharmaceutical Company Limited product portfolio as well as manufacturing of large quantity of plasma, which can be utilized for multiple applications. Such acquisitions are expected to spur the global plasma therapy market growth during the forecast period.
Browse 21 Market Data Tables and 22 Figures spread through 155 Pages and in-depth TOC on Global Plasma Therapy Market, By Type (Pure PRP, Leucocyte-rich PRP, Pure Platelet-rich Fibrin (PRF), and Leukocyte-rich Fibrin (L-PRF)), By Application (Treatment of Infections, Dental, Nerve Injury, Cardiac Muscle Injury, and Other Applications), By End-User (Hospitals & Clinics, Research Institutes, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Forecast to 2027″
To know the latest trends and insights related to plasma therapy market press release, click the link below: https://www.coherentmarketinsights.com/press-release/plasma-therapy-market-3411
Key Takeaways of the Global Plasma Therapy Market:
- The global plasma therapy market is expected to exhibit a CAGR of 14.1 % during the forecast period (2020-2027), owing to the increasing number of product approvals and launches by key players.
- Many groups and firms are coming together to increase awareness among the population about plasma donation. These factors are expected to favor the global plasma therapy market growth during the forecast period. On 26th March 2020, several medical and research institutions, blood donation centers, life science companies, technology companies, philanthropic organizations, and COVID-19 survivor groups collaborated in order to initiate a campaign, “The Fight Is In Us” to seek patients recovered from coronavirus infection for donation of plasma. The plasma consists of antibodies that have fought the infection and thus, will be available as a treatment option for seriously infected patients in the absence of any vaccine or drugs.
- Major players operating in the global plasma therapy market are Octapharma AG, China Biologic Products Holdings, Inc. Bio Products Laboratory Ltd., Kedrion S.p.A, Grifols, S.A., CSL, Biotest AG., Takeda Pharmaceutical Company Limited., DePuy Synthes, Regen Lab SA, LFB SA, and Immunotek Bio Centers.
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