As per the report, the size of the global plasma protein therapeutics market is estimated to be at USD 23935.47 Million in 2020 and is forecasted to reach USD 36777.04 Million by 2025, at 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 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.
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 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. 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 market lie in the increasing use of these plasma proteins in pharmaceutical, which are effectively used to treat 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 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 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 market, including stringent government policies, issues pertaining to reimbursement, and complexity in manufacturing.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Covered |
By Type, Application and Region |
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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 |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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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 held with the rising prevalence of quality treatment procedures. Besides, 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 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, 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 is following 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 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 and the growing geriatric population is undoubtedly a significant factor for development in this region.
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 THE RECENT PAST:
June 2016 - Acquisition
Baxalta was acquired by Shire Plc, which enhanced its shares and 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 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.
March 2018 - Product Approval
The first immunoglobulin therapy received approval from food and drug administration (FDA) is developed by CSL’s Hizentra. It is highly used in the treatment of chronic inflammatory demyelinating polyneuropathy (CIDP).
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