The plasma protein therapeutics market size in Latin America was worth USD 1341.96 Million in 2022. It is forecasted to be a USD 1936.44 Million market by 2027, growing at a significant CAGR of 7.61% between 2022 to 2027.
One of the significant factors accelerating the growth of the plasma protein therapeutics market in the Latin American region is the increased prevalence of autoimmune disorders, immune deficiency disorders, neurological disorders, and bleeding disorders. In addition to these factors, Latin America's expanding senior population is a significant driver of market expansion, as the elderly are more prone to neurological issues.
Furthermore, biotechnology and pharmaceutical companies are increasing their research and development activities, resulting in market expansion. Therefore, the plasma protein is predicted to be used in several applications due to ongoing research and development. In addition, the rising usage of therapeutic protein medications in treating a wide range of clinical problems is projected to give this market distinct growth opportunities during the forecast period.
The plasma protein industry has focused on quality and innovation to improve patient quality of life while also ensuring donor safety. Plasma from apheresis or whole blood donation processing can be constructed or separated into plasma protein products comprising one or more pure plasma proteins, or it can be directly transfused to patients.
However, the market's expansion is forecasted to be hampered by stringent processing requirements for plasma protein products and a lack of suitable reimbursement systems. Plasma collection standards in developing nations do not meet the fractionator's specifications. These establishments have strong laws and regulations to ensure the quality of their operations, beginning with the quality of the raw materials. Plasma fractionators were created expressly for this purpose. Aside from the fact that it is a challenging technology, raw material costs and a slew of safety regulations impact the price of these items. As a result, adequate financing is required to continue access to plasma protein therapy.
This research report on the Latin America plasma protein therapeutics market has been segmented and sub-segmented into the following categories:
Geographically, the Latin American region is predicted to account for a moderate share of global plasma protein treatments markets over the forecast period. Autoimmune and neurological diseases affect an increasing number of people, driving the market growth. Therefore, Latin America is expected to be the most important market.
Budgets for health care in Mexico and Brazil are under increasing strain. As a result, plasma protein therapies have been drawn into the landscape of Health Technology Assessments (HTA), which includes the future use of cost-utility analysis (CUA) in the distribution of reimbursement funds and funding through reimbursement channels from commercial and governmental payers.
The region's expanding senior population extends the patient pool further because neurological issues are more common in the elderly. Furthermore, favorable government initiatives increased blood donor awareness, enhanced protein fractionation techniques, higher per capita income in developed countries, and growth in the number of research collaborations are all expected to help the region's market.
The growing senior population in this region increases the patient pool in both countries, as the elderly are more susceptible to neurological illnesses. Furthermore, favorable government initiatives, rising blood donor awareness, the availability of improved protein fractioning processes, higher per capita income in developed countries, and an increase in the number of all of these research collaborations are expected to help the region's market expansion.
KEY MARKET PLAYERS:
Companies playing a pivotal role in the Latin America plasma protein therapeutics market profiled in this report are Grifols, CSL Behring, Baxter, Krdrion, China Biologics, Octapharma, Chendu Inst, and Shire Plc.
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