$89.76 Billion Blood Plasma Derivatives Markets - Global Opportunity Analysis and Industry Forecasts, 2021-2030 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Blood Plasma Derivatives Market by Product Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global blood plasma derivatives market size was valued at $36.471 billion in 2020, and is estimated to reach $89.767 billion by 2030, growing at a CAGR of 9.4% from 2021 to 2030.
The factors that drive the growth of the blood plasma derivatives market include increase in prevalence of life-threatening diseases such as immunodeficiency diseases & hemophilia, rise in awareness toward blood & plasma donation, and growth in adoption of blood plasma derivatives products.
Moreover, other factors that are responsible for the growth of the plasma derived derivatives are increase in awareness of blood & plasma donation, rise in geriatric population, & higher adoption of the blood plasma derivative products. Furthermore, market players are focused on manufacturing of different blood plasma derivatives product.
For instance, in April 2020, Biotest, a pharmaceutical company, announced the launch of a life saving medicine, which is derived blood plasma of COVID-19 patient. Moreover, surge in prevalence of geriatric population, who are more vulnerable to chronic disease escalate the blood plasma derivatives market growth.
In addition, rise in disposable income and development of the pharmaceutical sector for manufacturing of plasma derived products is anticipated to drive growth of the market. In addition, expansion of many clinical studies on various types of products to evaluate their safety and efficacy propels the growth of the market.
For instance, in February 2022, the U.S Food and Drug Administration (FDA), announced clinical research activities in order to enhance the safety of blood plasma derive product, such as protein used to treat immune system disorder and clotting disorder.
Rise in number of approval for plasma derived products and increase in number of pharmaceutical manufacturing companies are the key factors that further boost growth of the blood plasma derivatives market. 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 blood plasma derivatives market is segmented into type, application, end user, and region. On the basis of type, the market is segregated into albumin, factor VIII, factor IX, immunoglobulin, hyperimmune globulin, and others. The immunoglobulin segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to rise in R&D activities related to manufacturing of plasma derived products in the pharmaceutical sector and increase in prevalence of immune disease.
Depending on application, the blood plasma derivatives market is classified into hemophilia, hypogammaglobulinemia, immunodeficiency diseases, von Willebrand's Disease (vWD), and other applications. The immunodeficiency diseases segment is expected to lead during the forecast period, owing to increase in prevalence of immune diseases and development of advanced drugs by the pharmaceutical industry.
By end user, the market is categorized into hospital, clinic, and other end users. The hospital segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to surge in number of hospital, and initiatives taken by governments & private organizations to develop healthcare sector.
The COVID-19 outbreak is anticipated to have a positive impact on growth of the global plasma derivatives market. The COVID-19 pandemic has stressed healthcare systems in the world. Meanwhile, in August 2020, the Food and Drug Administration (FDA) issued an Emergency Use Authorization (EUA) for convalescent plasma for the treatment of hospitalized patients with COVID-19.
The antibodies or plasma are collected from donors who have recovered from COVID-19. It may contain antibodies to SARS-CoV-2, which help suppress viral replication. Thus, upsurge in demand for plasma derived product for the treatment of infectious diseases positively impacted the growth of the market.
Key Findings Of The Study
- By type, the immunodeficiency disorder was the highest contributor to the blood plasma derivatives market in 2020
- On the basis of application, other application dominated the market in 2020, and is expected to continue this trend during the forecast period
- Depending on end user, the hospital segment led the blood plasma derivatives market in 2020
- Region wise, North America garnered the largest revenue share in 2020, however, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
- North America garnered a major share of the blood plasma derivatives market in 2020, and is expected to continue to dominate during the forecast period, owing to increase in number of approval for blood plasma derivative product and rise in number of key players to manufacture plasma derived drug. However, Asia-Pacific is expected to register highest CAGR of 110% from 2021 to 2030, owing to increase in prevalence of immune disease, rise in awareness toward plasma derivatives, and surge in healthcare expenditure
KEY MARKET SEGMENTS
- Bayer AG
- Biotest AG
- CSL limited
- Fusion Health Care Pvt Ltd
- Grifols ,SA
- Kedrion Biopharma ,Inc
- LFB SA
- Octapharma AG
- Factor VIII
- Factor IX
- Hyperimmune Globulin
- Immunodeficiency Diseases
- Von Willebrand's Disease
- Other Application
By End User
- Other End Users
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
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