The size of the global plasma protein therapeutics market is estimated to grow USD 40075 million by 2027 from USD 26082 million in 2022, growing at a CAGR of 8.97% during the forecast period.
Plasma is a protein-rich fluid and plays a crucial role in clotting and providing immunity to diseases. By isolating the proteins from plasma, they can be used for medical therapies, including autoimmune, immune deficiencies, neurological and bleeding disorders. Plasma protein therapies treat well-defined medical conditions by replacing the deficient or missing proteins in plasma. Plasma protein therapeutics involve biological medicines, either infused or injected, to treat life-threatening, chronic, and genetic diseases.
MARKET DRIVERS:
The use of plasma protein in medical applications has increased significantly in recent years. With the advancements in technology, the process for fractionating the protein from plasma has become more cost-saving and efficient, and these factors are majorly promoting the global plasma protein therapeutics market growth.
According to WHO reports, more than half of the global blood donors belong to high-income countries, constituting 18% of the population. With rising awareness among people regarding blood donations and government initiatives, the plasma-derived medicine market is expected to grow significantly in the coming years.
Increasing the introduction of new plasma-derived therapies is the primary driving factor for the global plasma protein therapeutics market. The market is also driven by a host of other factors, including the rising prevalence of life-threatening diseases involving immune or neurological systems and other infectious diseases like Rabies, Tetanus, Hepatitis A&B, and varicella.
Growth opportunities for the plasma protein therapeutics market lie in the increasing use of these plasma proteins in pharmaceuticals, which are effectively used to treat various diseases like hemostasis. Growing awareness on the utilization of various components in the laboratories that are highly effective and promote a modernized way of treatment procedures significantly influences the demand of the global plasma protein therapeutics market. The plasma protein therapeutics market is also driven by the rising incidences of genetic disorder diseases worldwide. The trend towards detecting the diseases at an early stage by diagnosing as early as possible is enhancing the growth rate of the market. From the past two decades, the demand for targeted therapies is growing tremendously, which is solely to level up the growth rate of the market. Also, these therapies offer custom-made treatment procedures for the patients, specifically to meet the desired outcomes. The factor mentioned above is additionally fuelling the demand of the Global Plasma Protein Therapeutics Market to the extent.
MARKET RESTRAINTS:
On the contrary, there are a few restraints for the global plasma protein therapeutics market, including stringent government policies, issues about reimbursement, and complexity in manufacturing.
Impact of COVID-19 on the global plasma protein therapeutics market:
COVID-19 is an unprecedented global public health emergency that has impacted almost every sector, with long-term effects on industry development. Various inherited, chronic, life-threatening, and rare disorders are treated with plasma protein therapies. Plasma is a protein-rich fluid that plays a significant role in clotting and disease immunity. The proteins can be isolated from plasma and used for medical treatments. In the case of COVID-19, government agencies in different countries, research institutes, and several biotech and pharmaceutical companies are concentrating on efficient and rapid technologies for the rapid diagnosis of COVID-19 and the development of vaccines and new therapeutics to combat the current situation. The current COVID-19 pandemic has temporarily halted plasma donation worldwide, which could affect the demand for plasma protein therapeutics. However, researchers concentrate their efforts on plasma-based therapeutics to see whether they can help treat the COVID-19 virus. For this reason, it may have moderate growth during this pandemic.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2021 to 2027 |
Base Year |
2021 |
Forecast Period |
2022 to 2027 |
Segments Covered |
By Type, Application, and Region |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Baxter, CSL Behring, Biotest, China Biologics, Grifols, Kedrion, Octapharma, Shire Plc, and Chengdu Inst |
This report on the global plasma protein therapeutics market has been segmented & sub-segmented based on type, application, and region.
Plasma Protein Therapeutics Market – By Type:
Based on the type, the albumin segment is estimated to hold the largest share in the global plasma protein therapeutics market during the forecast period the rising prevalence of quality treatment procedures. Besides, the growing focus on implementing various therapies for infectious diseases and lowering the complexity in real-time applications are escalating the market demand.
Plasma Protein Therapeutics Market – By Application:
Based on the application, the Hemophilia segment is accounted for in holding the highest shares of the market. The increasing geriatric population and a growing number of patients with life-threatening diseases are primary factors for the market to grow enormously. Rising investments in hospitals' construction by private and public sectors are prompting the market demand. Also, changes in the food habits and adoption of sedentary lifestyles, especially in urban areas, are lavishing the growth of the plasma protein therapeutics market.
Plasma Protein Therapeutics Market – By Region:
Geographically, North America is positioned at the top in holding dominant shares of the Global Plasma Protein Therapeutics Market. Increasing capital income in both developed and developing countries is the primary factor for the market to grow. The emergence of modern technologies and the launch of innovative therapies are eventually focusing on boosting up the demand of this market. Europe follows North America to lead the highest shares of the market with the rising support from government bodies in changing schemes and implementing reimbursement in favor of the end-users. The Asia Pacific has the fastest growth rate from the past decade and continues the same flow in foreseen years. India and China are major countries contributing to the highest shares for market growth. Increasing chronic and infectious diseases and the growing geriatric population is undoubtedly a significant factor for development in this region.
KEY MARKET PARTICIPANTS:
Companies playing a dominating role in the global plasma protein therapeutics market in this report are Baxter, CSL Behring, Biotest, China Biologics, Grifols, Kedrion, Octapharma, Shire Plc, and Chengdu Inst.
RECENT MARKET HAPPENINGS:
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