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Oct-2021

Plasma Protein Therapeutics Market Worth USD 40075 Mn by 2026

Global Plasma Protein Therapeutics Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Product Type, Application & Region - Industry Forecast (2021 to 2026)

Global Plasma Protein Therapeutics Market Size & CAGR (2021 to 2026)

During the forecast period, the size of the global plasma protein therapeutics market is forecasted to be growing at a CAGR of 8.97% and worth USD 40075 Million by 2026 from USD 26082 million in 2021.

Impact of COVID-19 on the global plasma protein therapeutics market:

The global market is projected to be significantly impacted by the COVID-19 pandemic. In the case of COVID-19, government organizations in various countries, research institutes, and many biotech and pharmaceutical companies are focusing on effective and rapid technologies for the rapid diagnosis of COVID-19 and developing vaccines and new vaccines therapeutics to combat the current situation. The COVID-19 directly impacts production and demand, as well as supply chain and market disruption, with financial implications for corporations and public markets. Because many affluent countries are experiencing a shortage of these medications, the increasing demand has provided enormous prospects for developers of COVID-19 management drugs. As a result of the demand for COVID-19 vaccines and treatment medications, the pharmaceutical and biotechnology industries are predicted to increase significantly in the future. This, in turn, is projected to have a significant impact on the market for plasma protein therapies.

DRIVING FACTORS:

Increasing investments in research and development, rising demand for immunoglobulin (IG), and raising awareness are majorly promoting the growth rate of the global plasma protein therapeutics market.

The plasma protein business has been investing in new plasma protein therapeutics research and development, resulting in revolutionary treatments for the benefit of patients. The investment will boost plasma fractionation and purification capacity for a variety of proteins. As a result, these forces are driving increased investment in innovation. In addition, increased awareness and treatment of immunological deficiencies in developing countries have increased the global demand for immunoglobulin. However, the rising use of high-dose therapy, particularly in autoimmune neurologic disorders, is the leading cause for IG demand's sustained robust development. Furthermore, an increase in R&D activity, collaborations and partnerships between significant players to promote development, and an increase in healthcare expenditure are all aspects that contribute to the market's growth.

RESTRAINING FACTORS:

Strict restrictions & regulation policies are estimated to impact the global plasma protein therapeutics market negatively.

The lack of adequate reimbursement policies and strict restrictions for handling plasma protein products are the primary limitations restricting market expansion.

KEY MARKET INSIGHTS:

Based on the type, due to the improved detection of hypoalbuminemia caused by liver cirrhosis and hepatitis B, the albumin segment is predicted to gain considerable market share throughout the projection period. In addition, high demand and usage in China, the world's largest market for albumin, are expected to fuel additional expansion. Clotting factor VIII is required as a prophylactic or on-demand medication for patients with moderate to severe hemophilia A. 70.0 percent of hemophilia patients, on the other hand, receive no or insufficient treatment. Market growth is expected to be fuelled by the rising prevalence of hemophilia and the large patient pool during the forecast period. Furthermore, rising R&D spending on the discovery of new therapies and product launches is likely to drive segment growth over the forecast period.
Based on the application, the PID segment had the most significant market share in 2020, and it is predicted to rise significantly over the forecast period. The category is growing due to the increasing expansion of immunoglobulin clinical uses, approval of SCIGs, and high treatment costs.
Based on the region, North America is expected to dominate the global plasma protein therapies market throughout the forecast period. Factors such as the rising prevalence and incidence of autoimmune and neurological illnesses are driving market expansion. As a result, the United States is likely to be the region's largest market. Primary growth determinants for the market in the United States include the well-established healthcare infrastructure-focused market players on R&D for plasma protein therapies, as well as recent product releases and the rising incidence of autoimmune disorders.
There are several main competitors in the global plasma protein therapeutics market, which is moderately competitive. For example, Takeda Pharmaceutical Company Ltd, Octapharma USA Inc., Grifols, SA, CSL Behring, Biotest AG, Baxter, China Biologic Products Holdings Inc., Companies are concentrating on partnerships to expand their product line and geographical presence, as well as clinical trials to boost market share.

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SEGMENTS COVERED IN THIS REPORT:

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