Plasma Protein Therapeutics Market

Global Plasma Protein Therapeutics Market Size (2022 to 2027)

The global plasma protein therapeutics market is estimated to grow to 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 that is crucial 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.

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. Therefore, 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.

MARKET DRIVERS:

The use of plasma protein in medical applications has increased significantly in recent years. Furthermore, with technological advancements, the process for fractionating the protein from plasma has become more cost-saving and efficient and is supposed to boost the plasma protein therapeutics market.

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. However, the market is also driven by 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 market lie in the increasing use of these plasma proteins in pharmaceuticals, which are effectively used to treat diseases like hemostasis. Growing awareness of the utilization of various components in the laboratories, which are highly effective and promote a modernized way of treatment procedures, is significantly influencing the demand of the Global Plasma Protein Therapeutics Market. The plasma protein therapeutics market is also driven by the rising incidences of genetic disorders worldwide. The trend toward detecting the diseases at an early stage by diagnosing them as early as possible is enhancing the market's growth rate. Furthermore, for the past two decades, the demand for targeted therapies has been growing tremendously, solely to level up the market's growth rate. 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 market, including stringent government policies, reimbursement issues, and manufacturing complexity.

REPORT COVERAGE:

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:

• Albumin
• Coagulation Factors
• Alpha-1 proteinase inhibitor
• Others

Based on the type, the Albumin segment is held with 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:

• Hemophilia
• Primary Immunodeficiency Disorder
• Idiopathic Thrombocytopenic Purpura
• Secondary Immunodeficiency
• Others

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 expanding market. In addition, rising investments in hospital construction by both private and public sectors are prompting 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:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American plasma protein therapeutics market accounted for the most dominant share in the global market in 2021. Increasing capital income in both developed and developing countries and the emergence of modern technologies, and the launch of innovative therapies are fuelling the market expansion in North America.

In 2021, the European plasma protein therapeutics market accounted for a substantial share of the global market owing to the rising support from government bodies in changing schemes and implementing reimbursement in favor of the end-users.

The Asia Pacific plasma protein therapeutics market had the fastest growth rate in the past decade and will continue the same flow for years. India and China are major countries contributing to the highest shares of market growth. Increasing chronic and infectious diseases and the growing geriatric population are undoubtedly significant factors for this region's development.

The Latin American plasma protein therapeutics market is predicted to value USD 1341 million in 2022.

The plasma protein therapeutics market in MEA is forecasted to be growing at a CAGR of 8.97% from 2022 to 2027.

KEY MARKET PARTICIPANTS:

Companies that are 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.

KEY RECENT HAPPENINGS IN THIS MARKET:

• In August 2018, in the U.S., Grifols S.A. acquired 24 plasma donor centers, which have thrived the company's position, and Biotest AG will operate these companies to improve shares. 
• In March 2018, the first immunoglobulin therapy received approval from the food and drug administration (FDA) was developed by CSL’s Hizentra. It is highly used to treat chronic inflammatory demyelinating polyneuropathy (CIDP).
• In June 2016, Baxalta was acquired by Shire Plc, which enhanced its shares and developed its product portfolio. The main aim is to create a strong pipeline for the treatment of varied diseases which occur rarely.