As per the report, the size of the Global Plasma Protein Therapeutics Market is estimated to be at USD 23935.47 Million in 2019 and is poised to reach USD 36777.04 Million by 2024 with a CAGR of 8.97%.
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 are used to treat the 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.
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 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 which constitute 18% of the population. With rising awareness among people regarding blood donations and government initiatives, the plasma-derived medicine market is expected to grow at a significant rate in the coming years.
Increasing the introduction of new plasma-derived therapies is the primary driving factor for the 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.
On the contrary, there are a few restraints for the market which include stringent government policies, issues pertaining to reimbursement, complexity in manufacturing.
Growth opportunities for the market lie in the increasing use of these plasma proteins in pharmaceutical which are effectively used for the treatment of various diseases like hemostasis. Growing awareness on the utilization of various components in the laboratories which are highly effective and promote a modernized way of treatment procedures is greatly influencing the demand of the market. Also, the plasma protein therapeutics market is driven by rising incidences of genetic disorder diseases across the world. 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 which are specifically to meet the desired outcomes. The aforementioned factor is additionally fueling the demand of the market to the extent.
Major players leading the Global Plasma Protein Therapeutics Market in this report are:
Recent Market Developments:
June 2016 - Acquisition
Baxalta was acquired by Shire Plc which enhanced the shares of the company and also developed its product portfolio. The main aim to create a strong pipeline for the treatment of varied diseases which occur rarely.
August 2018 - Acquisition
In U.S. Grifols S.A. acquired 24 plasma donor centers which have thrived the position of the company and Biotest AG will operate these companies to improve shares.
March 2018 - Product Approval
The first immunoglobulin therapy got approval from food and drug administration (FDA) is developed by CSL’s Hizentra and this is highly used in the treatment of chronic inflammatory demyelinating polyneuropathy (CIDP).
This report on the Global Plasma Protein Therapeutics Market has been segmented & sub-segmented into the following categories and analyzed market size & forecast for each segment until 2024.
Plasma Protein Therapeutics Market – By Type
Based on the type, the market is held by the Albumin segment with the rising prevalence of quality treatment procedures. Besides, growing focus on implementing various therapies for infectious diseases and to lower the complexity in real-time applications are escalating the demand of the market.
Plasma Protein Therapeutics Market – By Application
On the basis of application, Hemophilia is accounted for in holding the highest shares of the market. 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 the construction of hospitals by both private and public sectors are prompting the demand of the market. Also, changes in the food habits and adoption of sedentary lifestyles especially in urban areas is lavishing the growth of the plasma protein therapeutics market.
Plasma Protein Therapeutics Market – By Region
Regionally, North America is positioned at the top in holding dominant shares of the 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 is following North America is leading the highest shares of the market with the rising support from government bodies in changing schemes and implementation of reimbursement in favor of the end-users. The Asia Pacific is witnessed in having the fastest growth rate from the past decade and is also to continue 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 along with the growing geriatric population is certainly a major factor for the market to grow in this region.
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