Plasma Protein Therapeutics Market

Global Plasma Protein Therapeutics Market Size (2023 to 2028)

The global plasma protein therapeutics market is estimated to grow to USD 43669 million by 2028 from USD 28421 million in 2023, growing at a CAGR of 8.97% during the forecast period.

Global Plasma Protein Therapeutics Market Share Insights:

• Based on type, the albumin segment captured the largest share of the global market in 2022.
• Based on application, the hemophilia segment accounted for the major share of the market in 2022.
• North America was the largest regional segment in the global market in 2022.
• The European region held the second-largest share of the worldwide market in 2022.

Plasma is a protein-rich fluid 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 involves biological medicines, either infused or injected, to treat life-threatening, chronic, and genetic diseases. Plasma protein therapies help treat unique medical conditions caused by a missing or defective protein in the body's plasma by replacing them, encouraging a healthy life for the patient. 

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. Due to such factors, the plasma protein therapeutics market had moderate growth during the COVID-19 pandemic. However, considering the reduced impact of COVID-19, the global market for plasma protein therapeutics is expected to showcase a healthy CAGR during the forecast period.

MARKET DRIVERS:

The use of plasma protein in medical applications has increased significantly in recent years. Furthermore, with technological advancements, fractionating the protein from plasma has become more cost-saving and efficient, propelling the plasma protein therapeutics market growth.

According to data published by the World Health Organization (WHO), more than 50% of blood donors worldwide are from developed countries, accounting for 18% of the population. The growing awareness among people regarding blood donations and the increasing number of initiatives by various governments are favoring the growth of the plasma protein therapeutics market. In addition, factors such as the rising prevalence of life-threatening diseases involving the immune or neurological systems and other infectious diseases such as Rabies, Tetanus, Hepatitis A&B, and varicella are propelling the plasma protein therapeutics market.

Furthermore, growth opportunities for the market lie in the increasing use of these plasma proteins in pharmaceuticals, which are effectively used to treat diseases such as 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 diseases at an early stage by diagnosing them as early as possible is enhancing the market's growth rate. Furthermore, the demand for targeted therapies has been growing tremendously for the past two decades, which is estimated to promote 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 also fuels the global plasma protein therapeutics market growth. 

MARKET RESTRAINTS:

On the contrary, there are a few restraints for the market, including stringent government policies, reimbursement issues, and manufacturing complexity. Additionally, there are certain limitations to plasma protein therapy, like patient plasma not having any neutralizing antibodies, high infusion rates required for successful procedures, lengthy administration periods, and the presence of plasma thinning Abs, etc., leading to drawbacks for the market.

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 accounted for the major share of the global market in 2022. The segment’s domination is expected to continue during the forecast period owing to the rising prevalence of quality treatment procedures. In addition, the growing focus on implementing various therapies for infectious diseases and lowering the complexity of real-time applications are promoting the segment’s growth.

However, the other plasma protein types, such as immunoglobulins, factor VIII and coagulation factors segments, are expected to register healthy growth in the coming years due to the growing applications of the segments. For example, the growing cases of immunodeficiency diseases are leading to a rise in the demand for immunoglobulins leading to market revenue and rising cases of hemophilia patients requiring factor VIII, leading to demand for the segment. Furthermore, replacement surgeries use alpha-1 proteinase inhibitors leading to demand. 

Plasma Protein Therapeutics Market – By Application:

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

Based on the application, the hemophilia segment accounted for the major share of the plasma protein therapeutics market in 2022, and the domination of the segment is likely to continue during the forecast period owing to the increasing geriatric population and a growing number of patients with life-threatening diseases. In addition, private and public sectors' rising investments in hospital construction are favoring segmental growth. Furthermore, changes in food habits and adopting sedentary lifestyles, especially in urban areas, fueling the segment’s growth rate. 

On the other hand, the PID segment is also expected to grow significantly during the forecast period due to increasing cases of primary immunodeficiency disorders going unreported. Additionally, the growing adoption of immunoglobulins and high-cost treatment procedures for more than 200 rare and chronic immunodeficiency diseases are causing the demand for the segment during the forecast period. 

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 global market share in 2022. The region’s dominance is anticipated to continue during the forecast period owing to the growing capital income in developed and developing countries, emerging modern technologies, and the launching of innovative therapies. In addition, 4.5 million Americans require blood transfusions annually, according to statistics from community blood centers for 2020. The prevalence and incidence of neurological and autoimmune illnesses are rising. In addition, even though the senior population is expanding and the healthcare system is well-established, 43,000 pints of blood are utilized daily in the United States and Canada, keeping the supply of high-quality source plasma at an average of one in seven patients who enter a hospital.

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 significant factors for this region's development. Additionally, the growing demand for albumin in Asian countries and the rising immunoglobulin utilization help further expand the market.

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 grow 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 January 2023, to offer breakthrough minor molecule protein degrader medications, Kymera Therapeutics, Inc., a clinical-stage biopharmaceutical business, is pursuing targeted protein degradation (TPD). The Phase 1 trial of Kymera's lead program, KT-474 (SAR444656), showed fidelity of translation from healthy volunteers to patients, a favorable safety profile, and clinical impact in complex inflammatory diseases like hidradenitis suppurativa (HS) and atopic dermatitis. 
• In August 2018, in the U.S., Grifols S.A. acquired 24 plasma donor centers, which have thrived in 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) and 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 rarely occur.