The size of the Asia Pacific Plasma Fractionation Market is valued at USD 4.89 billion in 2023. This figure is projected to be growing at a CAGR of 9.6% to touch USD 7.73 billion by 2028.
Plasma, which constitutes about 55% of blood by volume, consists of several different proteins numbering into the thousands and other substances like minerals, hormones, etc. There are many therapeutic uses for the proteins present in plasma. For example, Albumin is commonly used to rejuvenate and maintain blood volume after traumatic injury, surgery, and plasma exchange.
The existence of government agencies that regulate and oversee plasma collection, fractionation, and sales and increase in respiratory diseases across Asia-Pacific are the major factors driving the plasma fractionation market forward.
The plasma fractionation market is also benefiting from favorable government assistance to raise awareness about the usage of plasma-derived products; the innovation and developments of the technologies will help increase the yield, faster throughput, and reduced costs.
Furthermore, rising occurrences of medical disorders, such as high fever with thrombocytopenia syndrome (SFTS), hemophilia, and primary and secondary immunological deficiencies, are driving the industry forward. As well as the increase in the growth of market players and the geriatric population, which is more likely to have more occurrences that need plasma, is helping in the growth of the market.
High costs of the plasma products are manufactured from donated human blood. Clotting factor concentrates or fresh frozen plasma are made from plasma or clotting proteins that have been isolated or removed. However, plasma transfusion can cause unpleasant reactions or events, ranging from minor to deadly. In addition, a lack of awareness among people in rural areas leads to limited market growth.
Due to the lack of a safe blood donor base and well-organized, nationally coordinated blood transfusion services, resulting in inconsistent screening and testing methods. Also, due to both financial and human resources are in short supply as well as insufficient remuneration.
This research report on the APAC plasma fractionation market has been segmented and sub-segmented into the following categories:
By End User:
Geographically, the APAC market is anticipated to witness a prominent share in the global market during the forecast period. The market growth is attributed to the increasing population and as well geriatric population across the region. Therefore, by 2050, the number of elderly persons in Asia-Pacific would have tripled, reaching 1.3 billion. Women make up the majority (53%) of the region's population aged 60 and over, and their proportion climbs to 60% at the age of 80.
Japan has the highest proportion of the aging population, with 33.1 percent. On the other hand, China leads with its total population with 11.9 percent of the elderly population. India is the other leading position with the largest population with 6.1 percent of the elderly population.
The increase in respiratory diseases across the Asia-Pacific is due to air pollution, smoking, and overweight in the region. Further, the market players present in the market in these regions like Grifols S.A., Bharat Serum and Vaccine Limited (BSV), China Biologic Product Holdings, Inc., and many more are competing with each other to expand their business, also due to the increase in the technological advancements with improved accessibility. These factors, as well as numerous strategic initiatives undertaken by these industries and market players to extend their regional presence and product reach, will impact the industry development in this region.
KEY MARKET PLAYERS:
Some of the notable companies leading the Asia Pacific plasma fractionation market profiled in the report are CSL Ltd. (Australia), Grifols S.A (Spain), Baxalta Incorporated (U.S.), Octapharma AG (Switzerland), Kedrion S.p.A (Italy), Bio Products Laboratory (U.K.), Sanquin (Netherland), China Biologic Products, Inc. (China), Biotest AG (Germany), and Laboratoire Français du Fractionnement et des Biotechnologies (France).
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