Plasma Protein Therapeutics Market to Clock a CAGR of 6.3% Between 2017 and 2024
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Between 2017 and 2024, the global plasma protein therapeutics market has been foreseen by TMR to rise at a 6.3.0% CAGR to expand to a US$31.8 bn valuation by the completion of the final forecast year. On the basis of segmentation by application, the market could testify the lead secured by primary immunodeficiency disorder (PID). By region, North America has been prognosticated to take the driver’s seat of the market with an anticipated valuation of US$13.8 bn to be attained by 2024.
The sales of plasma protein therapeutics have been foretold to gain momentum from the swelling usage of immunoglobulins in the treatment of primary immunodeficiency disorders (PID). The world plasma protein therapeutics market could create ample of prospects in the coming years on the back of the increasing application of human albumins in the treatment of burns, shocks, and blood loss. Furthermore, plasma protein therapeutics could be used as a drug formulation agent. There could be more opportunities rising with improved access to medicines in emerging economies and the emergence of innovative plasma-derived therapies.
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Other factors that could enhance growth in the world plasma protein therapeutics market are the advent of novel solutions for efficient and safe plasma collection and rising development of new indications. Increasing production of plasma-based drugs has raised the demand for immunoglobulins in the recent time. This too could amplify the rise of the global market.
The international plasma protein therapeutics market has been envisioned to face a downside in its growth as a result of issues related to medical reimbursements and the implementation of tight regulatory policies. Additionally, there could be a possibility of bottlenecks being created due to the current complexity in biologics manufacturing. Nonetheless, there could be opportunities birthing on the back of increasing healthcare expenditure in developing countries of the world.
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North America has been prophesied to witness a rise in the demand for IVIG owing to the increasing number of geriatrics in the region. New indications and researches now require the application of IVIG, which could bode well for the international plasma protein therapeutics market. Drastic increase in the amount of plasma processed and collected in Europe has been expected to be another factor augmenting the demand in the global market.
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