The size of the Latin American Plasma Fractionation Market size was worth USD 3.51 billion in 2022. This value is projected to be growing at a CAGR of 5.2% to touch USD 4.53 billion by 2027.
Plasma is the liquid portion of blood. It consists of red cells, white cells, and platelets suspended in it and also contains thousands of distinct proteins and other materials like electrolytes, minerals, hormones, etc., which are essential for the regular function of the human body. Plasma supports in maintaining blood pressure and body temperature management.
There are many therapeutic uses for the proteins present in plasma. For example, Albumin is commonly used to rejuvenate and maintain blood volume after traumatic injury, surgery, and plasma interchange.
The increasing demand for plasma proteins and the increasing prevalence of rare diseases across Latin America is expected to propel the Latin America plasma fractionation market. In addition, the growth of the Latin America Plasma Fractionation Market is further driven by factors such as the high prevalence of blood disorders spread among a vast population base, growing awareness about blood abnormalities, and the leaps in technological, clinical advancements.
Adversarial reactions associated with the procedure of plasma fractionation and transfer, high costs of plasma products, and unfavorable reimbursement policies are the main constraints of market growth. In addition, high prices of plasma derivatives and the risk factors, coupled with the rising utilization of recombinant proteins and products that behave as a substitute for the plasma products, are expected to hamper the growth of the Latin American plasma fractionation market.
This research report on the Latin America plasma fractionation market has been segmented and sub-segmented into the following categories:
By End User:
In Latin America, the Brazilian plasma fractionation market dominated Latin American in 2020 due to the rise in plasma collection and the number of plasma collection centers. Besides, the increasing incidences of blood and immune disorders are owing to the rising geriatric population.
The Mexican plasma fractionation market is projected to showcase a significant growth rate during the forecast period. Increasing demand from patients for excellent and technically advanced healthcare facilities and increased acquisition of innovative and advanced technologies boost Mexico's market. Rising off-label utilization of critical plasma products such as albumins is expected to drive the Mexico plasma fractionation market.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Latin American plasma fractionation market profiled in the report are CSL Ltd. (Australia), Grifols S.A (Spain), Baxalta Incorporated (U.S.), Octapharma AG (Switzerland), Kedrion S.p.A (Italy), Bio Products Laboratory (U.K.), Sanquin (Netherland), China Biologic Products, Inc. (China), Biotest AG (Germany), and Laboratoire Français du Fractionnement et des Biotechnologies (France).
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