By 2024, Blood products to reach $57.5 billion, reflecting a 5 year CAGR of 8.2%.

A new study “Blood Plasma: Market Shares, Strategies, and Forecasts, Worldwide, 2018 to 2024” says sales of blood therapeutics were $30.9 billion in 2017. By 2024, Blood products to reach $57.5 billion, reflecting a 5 year CAGR of 8.2%.

Worldwide markets are poised to achieve continuing growth as animal and human blood is further fractionated to address more disease treatments and becomes more effective in the research and development aspects of medical care delivery.

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Blood is for most species the essence of life. Blood plasma provides significant health benefits. The varieties of proteins and other components of blood are in demand worldwide. Blood proves its value by managing a variety of ways to treat disease.

The plasma proteins or derivatives in blood are extracted via the fractionation process. A range of valuable products are manufactured from blood plasma through fractionation. Fractionation occurs in tanks at near freezing temperatures. Fractionation is used to maintain the integrity of the proteins in plasma. This process includes a phase of introducing various viral inactivation procedures.

Blood plasma offers high value for its volume and weight. One refrigerated container might be worth more than an entire shipload of grain. Blood provides significant health benefits to people. Blood exports boost U.S. exports with minimal carbon emissions.

Liver disease is a major cause of illness and death worldwide. In China, 400 million people have liver diseases, primarily viral hepatitis (predominantly hepatitis B virus [HBV]). Nonalcoholic fatty liver disease and alcoholic liver diseases are also prevalent diagnoses.

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The blood plasma market is driven in part by China, and by demand from China for high quality blood from the US. Chinese patients consumed 400 metric tons of serum albumin in 2017, half of the global total of that blood protein. The necessary supply could be provided by the Chinese population, but, many of them are afraid to donate blood.

The reason is a well-remembered 1990s health scare in which tens of thousands of farmers who had been paid to donate blood acquired HIV from unsanitary needles. The ensuing scandal was covered up by the government.

As a result, China has to import about 60% of its serum albumin-and the ever-rising demand has driven up prices. American companies have an edge in the Chinese markets because of the quality of the blood collected. The edge is apparent in the fact that three foreign companies account for 88% of China's serum albumin imports.

The billion-dollar market for blood worldwide has a variety of participants. Thermo Fsher Scientific has the largest market participation. Sales of blood therapeutics were $30.9 billion in 2017. By 2024, Blood products to reach $57.5 billion, reflecting a 5 year CAGR of 8.2%.

Companies Profiled
Thermo Fisher Scientific
Takeda / Shire / Baxalta
Grifols S.A
Avantor / VWR
Corning
GE Healthcare
Octapharma
China Biologic Products Holdings
ANZCO Foods / Bovogen Biologicals
Biotest
Global Cord Blood
Rocky Mountain Biologicals

Key Topics
Blood
Plasma proteins
Immunoglobulins
Albumin
Hemophilia factor proteins
Fractionation
Serum
Blood Plasma
Proteins Components of Blood
Liver Disease
Viral Hepatitis (Predominantly Hepatitis B
Mandatory HCV Screening
Blood Transfusion
High Mortality From Liver Diseases
Serum Albumin, A Substance Found In Human Blood Plasma
Blood Acquired HIV from Unsanitary Needles

Know more about report at https://marketreportscenter.com/reports/603715/blood-plasma-market-shares-strategies-and-forecasts-worldwide-2018-to-2024

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This release was published on openPR.