The global market for plasma-derived medicine is anticipated to grow at a CAGR of 6.2% from 2023 and 2028 and be worth from USD 35.79 billion in 2023 to USD 48.35 billion by 2028.
MARKET DRIVERS:
The growing prevalence of chronic diseases and rare diseases among people has emerged as a major growth factor to the plasma-derived medicine market. Globally around 35.27% population has a chronic disease and the rise in the incidence of contagious diseases such as hepatitis B, tetanus, and rabies majorly need plasma-derived medicine. The growing prevalence of such diseases is fuelling the demand for plasma-derived medicine and contributing to the global market growth.
The growing demand for immunoglobulin therapies for treating immune deficiency diseases propels the growth of the global plasma-derived medicine market. The growing number of research and development activities in the field of immunoglobulin therapies are leading to more effective and targeted treatment. These advancements may expand the range of conditions that can be treated with plasma-derived medicine. Improved reimbursement policies by governments and private insurance companies in developing and developed countries can enhance patient access to immunoglobulin therapies contributing to higher demand and propelling the growth of the global market.
An increasing number of product approvals by regulatory bodies for plasma-derived medicine further fuel the growth rate of the global plasma-derived medicine market. As more plasma-derived medicines receive regulatory approval, the available product offerings in the market will likely expand. The increased product diversity can cater to a broader range of medical conditions, driving market growth. The regulatory approvals provide patients with access to safe and effective treatment options, As more plasma-derived medicines are approved, patients with various medical conditions can benefit from these therapies, leading to higher demand and market growth.
Factors including technological developments, clinical evidence, patient demand, regulatory support, public health initiatives, rising disease incidence, rising immunodeficiency disorder prevalence, supportive regulatory environment, and growing healthcare expenditure further favor the market’s growth rate.
MARKET RESTRAINTS:
The high costs associated with plasma-derived medicine primarily hamper the global market growth. Producing plasma-derived medicine involves a complex and time-consuming manufacturing process, including plasma collection, fractionation, purification, and formulation. This process requires specialized facilities, skilled personnel, and costly equipment, all of which contribute to higher production expenses also, plasma-derived medicine maintains a high-quality standard to ensure safety and efficacy adds to the overall cost of manufacturing. Developing new plasma-derived medicine involves significant research and clinical trials to demonstrate safety and effectiveness. These costs are passed on to the consumers, contributing to higher prices. Factors include plasma-derived medicine as a time-consuming process, regulatory changes, and competitive dynamics that further impedes the global market growth.
Impact of COVID-19 on the global plasma-derived medicine market:
The COVID-19 pandemic situation hampered every sector of the globe. Many industries were negatively impacted due to the COVID-19 pandemic crisis. Plasma-derived medicine has been positively impacted and benefitted due to the COVID-19 pandemic situation. Plasma is the single largest component of blood, and this component is important for proper body function. During the COVID-19 pandemic in 2020, the FDA issued an emergency use of convalescent plasma for the treatment of hospitalized patients. Plasma fractionation was majorly used in the treatment; the use of plasma fractionation products helped in the fight against coronavirus disease during the COVID-19 pandemic. During the peak of the COVID-19 pandemic, many healthcare systems focused on treating the patients affected by COVID-19, and this influenced the demand and access to plasma-derived medicine. Many clinical trials and research activities were delayed due to COVID-19 pandemic restrictions; this could have impacted the development of new plasma-derived medicine and delayed Potential advancements in the market.
REPORT COVERAGE:
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REPORT METRICS |
DETAILS |
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Market size available |
2022 to 2028 |
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Base year |
2022 |
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Forecast period |
2023 to 2028 |
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Segment covered |
Based on Product, Indication, Distribution Channel and region. |
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Various analyses covered |
Global, regional, country-level, segment-level, drivers, restraints, Opportunities, challenges, PESTEL analysis, Competitive landscape. |
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Regions covered |
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. |
This research report on the global plasma-derived medicine market has been segmented and sub-segmented based on product, indication, distribution channel and region.
Plasma Derived Medicine Market – By Product Type:
Based on product type, the albumin segment is expected to capture the major share of the global market during the forecast period. As albumin has multiple therapeutic applications in various medical conditions, including burns, and liver diseases, albumin products have been experiencing a promising demand, one of the major factors propelling the growth of the albumin segment in the global plasma-derived medicine market. Albumin also plays a crucial role in the delivery of certain chemotherapy drugs, helping to improve drug solubility and increase drug solubility and enhance their therapeutic efficacy, and reduce side effects, such factors are further expected to boost the growth rate of the albumin segment in the global market.
The immunoglobulin segment is estimated to grow at a promising CAGR during the forecast period. These therapies, used in various medical condition, including autoimmune disorders and neurologic diseases, drives the demand for immunoglobulin products and fuel the growth of the immunoglobulin segment in the global market.
Plasma Derived Medicine Market -By Indication:
Based on Indication, the pelvic inflammatory diseases segment is predicted to account for the leading share of the global market during the forecast period. Rising incidences of pelvic inflammatory diseases lead to an increased demand for treatment, including plasma-derived medicine that helps to manage associated complications. The advancements in research and development of plasma-derived medicine could lead to improving the treatment for various conditions, which further supports the growth of the pelvic inflammatory diseases segment in the global market.
The primary immune thrombocytopenia segment is another notable segment in the worldwide market and is expected to witness a notable CAGR during the forecast period.
Plasma Derived Medicine Market – By Distribution Channel:
Based on the distribution channel, the online pharmacies segment is predicted to account for a substantial share of the global market during the forecast period. The COVID-19 pandemic crisis opens more opportunities for digital tools and technology and helps to strengthen the online platform for easy care. The benefits associated with using online pharmacies majorly drive segmental growth.
The hospital pharmacies segment is another promising segment and is expected to register a healthy CAGR in the coming years. Hospital pharmacies have more chances to dominate the market during the forecast period. The rising demand for Plasma-derived medicines primarily drives the growth of the hospital pharmacies segment.
Plasma Derived Medicine Market – By Region:
The North American region held the largest share of the global market in 2022 and is anticipated to continue to dominate the market throughout the forecast period. The North American region has a high prevalence of chronic diseases such as immune disorders and hemophilia, which is majorly propelling the North American market growth. The growing aging population, and higher incidence of age-related conditions further boost the growth rate of the North American market.
The European region is anticipated to grow at a prominent CAGR during the forecast period. Europe has a well-established and comprehensive healthcare system, ensuring access to advanced medical treatment such as the use of plasma-derived medicine. The growing aging population across Europe further fuels the growth rate of the European market.
The Asia-Pacific region is anticipated to register the fastest CAGR during the forecast period. The Asia-Pacific region is home to a vast and diverse population, which includes both developing and developed countries. The presence of a large patient pool poses a substantial market opportunity for the plasma-derived medicines market in the Asia-Pacific region.
Latin America is anticipated to grow at a steady CAGR in the global plasma-derived medicine market during the projected period.
The Middle East and African region is expected to witness a moderate CAGR during the forecast period.
KEY MARKET PLAYERS:
Grifols, S.A., SK Plasma, Fusion Healthcare, Takeda Pharmaceutical Company Limited, LFB, Octapharma AG, CSL Limited, Bio Products Laboratory Ltd., China Biologic Products Holdings, Inc., Kedrion, Shanghai RAAS, ADMA Biologics Inc., Kamada Pharmaceuticals, and Biotest AG are some of the major companies in the global plasma-derived medicine market.
Frequently Asked Questions
The growing demand for rare disease treatments, advancements in plasma fractionation techniques, and increasing healthcare expenditures majorly propel the growth of the plasma-derived medicine market.
Major players include CSL Behring, Grifols, Shire (now part of Takeda), and Octapharma.
Trends may include increased use of recombinant alternatives, expansion in emerging markets, and research into novel therapies.
The pandemic disrupted plasma collection efforts but also highlighted the importance of plasma-based therapies.
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