High prevalence of different types of immunodeficiency disorders & hemophilia and upsurge in adoption of plasma derivative-based therapy have driven the growth of the market for blood plasma derivatives in the recent years.
Portland, OR, Oct. 28, 2020 (GLOBE NEWSWIRE) -- The global blood plasma derivatives market held $25.98 billion in 2017 and is estimated to garner $44.33 billion by 2023, growing at a CAGR of 9.3% from 2017 to 2023. The report offers a detailed analysis of the key segments, top investment pockets, changing dynamics, market size & estimations, and competitive scenario.
Blood plasma is clear liquid component of blood in which red blood cells, white blood cells, and platelets are suspended. It plays a vital role in maintaining proper pH balance in the body and transporting nutrients throughout the body. It is composed of more than 100 different proteins, including albumin, fibrinogen, immunoglobulins, protease inhibitors, and clotting factors. Plasma derivatives are products that are derived from blood plasma on fractionation, and are widely used to treat variety of diseases.
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The Immunoglobulin segment accounted for nearly half of the total revenue in 2017 and will maintain its dominance by 2023. This segment is expected to register the highest growth rate with a CAGR of 10% during the forecast period. The report also explores other types including Albumin, Factor VIII, Factor IX, Hyperimmune globulins, and others.
There has been cancellation of Blood plasma drives amid lockdown and implementation of social distancing rules has decreased the number of blood donors across the globe.
Governments have been appealing patients recovered from the Covid-19 to donate their plasma for infected patients.The report offers a detailed segmentation of the global blood plasma derivatives market based on type, application, end-user,and region.
The global blood plasma derivatives market is segmented based on type, application, end user, and region.
Base on type, the market is segmented into albumin, factor VIII, factor IX, immunoglobulin, hyperimmune globulin, and others. Immunoglobulin segment accounted for the largest market share in 2016, and is expected to continue this trend throughout the forecast period. On the other hand, albumin segment is anticipated to grow at a significant CAGR of 9.4% during the forecast period.
Base on application, the market is categorized into hemophilia, hypogammaglobulinemia, immunodeficiency diseases, von Willebrand's Disease (vWD), and other applications. Immunodeficiency diseases segment accounted for the largest market share in 2016, whereas hemophilia segment is expected to register the highest growth rate during the forecast period.
Base on end user, the market is fragmented into hospitals, clinics, and other end users. Hospitals held the largest share of the market in 2016, whereas clinics segment is expected to register the highest growth rate during the forecast period.
North America was the leading revenue contributor to the global blood plasma derivatives market in 2016, and is expected to dominate the market during the forecast period. This is attributed to the early approval of plasma derivatives products and large number of fractionation plants in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards plasma derivatives.
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Leading market players analyzed in the research Green Cross Corporation, SK Plasma Co. Ltd., Octapharma AG, Grifols, S.A., Biotest AG, Fusion Health Care Pvt. Ltd., Shire Plc., Baxter International Inc., LFB S.A., and CSL Limited.
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