$6.5 bn by 2024| Platelet and Plasma Market Set for Rapid Growth| Key Players: America's Blood Centers, American Red Cross, Blood Centers of America, Brazilian Red Cross

The Platelet and Plasma Market is set to exceed USD 6.5 billion by 2024; according to a new research report by Global Market Insights. Advent of technologically advanced platelet and plasma products is another major driver that will augment the market growth. Use of platelets and plasma in treatment of rare, debilitating, life-threatening conditions and chronic diseases such as Hepatitis B heavily influences growth of the market. Plasma derived from blood can be used in treating rare diseases wherein no other alternative treatment is available. For instance, use of plasma for treatment of Ebola virus during its outbreak in West Africa. Aforementioned factors will augment the market growth during the forecast period.

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However, strict regulations regarding plasma collection will impede the growth of platelets and plasma market to a certain extent during the forecast period. Moreover, low affordability in developing economies such as APAC and Latin America owing to high costs will further impact the market growth.

Plasma segment is predicted to witness significant growth rate of 2.1% CAGR over the analysis period. The growth is attributed to rising incidences of chronic diseases such as autoimmune diseases, hereditary angioedema and other rare diseases. Plasma is used for treatment of various rare diseases in case of unavailability of any specific treatment, drugs or vaccines. Moreover, plasma is also used in treatment of neurological disorders such as multiple sclerosis, trauma, burns, shock and other medical emergencies. Growing prevalence of chronic diseases, developments in healthcare infrastructure and supportive government funding in developing economies are projected to augment the market growth over the forecast period.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
• America's Blood Centers
• American Red Cross
• Blood Centers of America
• Brazilian Red Cross
• Canadian Red Cross
• European Blood Alliance
• German Red Cross
• Indian Red Cross Society (IRCS)
• Italian Red Cross
• Saudi Red Crescent Authority
• South African Red Cross Society (SARCS)
• Spanish Red Cross

Liver disease segment accounted for more than USD 595 million in 2017 and is projected to witness lucrative growth during the forthcoming years. Prevalence of liver disease such as cirrhosis, hepatocellular carcinoma, hepatitis and other autoimmune diseases is high in many developed as well as developing countries. According to Paris Hepatology Conference, chronic liver diseases (CLD) accounted for 18.5% of all diseases in 2017. Moreover, lifestyle changes, increasing alcohol consumption and growing geriatric population base prone to chronic diseases will further fuel the demand for platelets and plasma during the forthcoming years.

Hemorrhage segment is expected to witness significant growth with a CAGR of 2.2% over the analysis timeframe owing to the rising number of hemorrhage cases across the globe. World Health Organization estimated that haemorrhage accounts for more than 7.5 million deaths across the globe. Furthermore, obstetric haemorrhage is one of the leading causes of maternal mortality, accounting for around 35% of maternal deaths annually. Increasing prevalence of hemorrhage, growing disposable income as well as growing demand for plasma and its derivatives for treatment of hemorrhage will augment the market growth over the forecast period.

North America Platelet and Plasma Market accounted for the highest revenue of over USD 2.1 billion in 2017 and is projected to grow at a significant rate during the forecast period. The growth is attributed to the increasing cases of cancer, obesity, cardiac diseases, neurological disorders and other chronic diseases. Furthermore, American Red Cross undertakes various initiatives for increasing awareness regarding importance of blood donation. Blood donation systems in North America are based on a mixed system of non-compensated as well as compensated donations. Moreover, high demand for advanced technologies coupled with availability of advanced healthcare infrastructure will augment the regional growth during the forecast period.

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Platelet And Plasma Market by Application

Hemophilia
Thrombocytopenia
Perioperative Indications
Platelet Function Disorders
Other Platelet Applications
Coagulation Factor Deficiencies
Thrombotic Thrombocytopenic Purpura
Hemorrhage
Liver Diseases

Platelet And Plasma Market by Distribution Channel

Hospitals
Ambulatory Surgical Centers

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This release was published on openPR.