Platelet and plasma market 2019 | Industry Growth by Forecast to 2024

The platelet and plasma market segment has been anticipated to produce a significant remuneration of nearly USD 4.5 billion by 2024 on account of an increase in surgical operations as well as the rising demand for less invasive procedures across the globe. Platelets and its analogs have various therapeutic and prophylactic properties that have benefitted the demand of the product.

Rising prevalence of chronic diseases like liver cirrhosis and other liver problems is expected to drive platelet and plasma market trends over the forecast period. Liver diseases have been considered as the fifth most common cause of deaths worldwide. As per the reports by American Association for the Study of Liver Diseases, liver diseases like viral hepatitis, alcoholic liver disease and nonalcohol fatty liver diseases that have impacted over 300 million of the Chinese population.

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Rise in the disposable income at hand has resulted in affordability of health services while increased adoption of advanced technologies and developed healthcare infrastructure will escalate the applications of modern treatment methods, boosting platelet and plasma consumption.
Geriatric population is more prone to a number of liver disorders on account of functional limitations associated with growing age. Surge in the geriatric population along with the rising cases of liver problems among them will help boost the demand for platelets and plasma to treat such diseases, stimulating the industry expansion.
There has been a significant rise in the number of blood transfusions as millions have received donated blood as well as its components each year, especially in regions like Europe. Increasing number of people donating every year will foster platelets and plasma market share over the projected time period.

According to the statistics laid down by the European Commission, more than 20 million units of both blood and blood components had been transfused in the year 2017. Several developed nations offer a mixed system comprising both compensated and non-compensated blood donation. Furthermore, there have been several government initiatives to promote blood donation among people.
Over 33% of the global platelet and plasma market share was held by the plasma segment in the year 2017. Surging prevalence of serious and rare diseases like autoimmune diseases, hereditary angioedema, hemophilia, and several other infectious diseases will drive the sturdy growth of the segment. Unavailability of drugs, vaccines or other treatments for a specific disease results in plasma being the sole therapeutic treatment strategy available in many places.

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For example, plasma was used to treat the Ebola virus when there was an outbreak in West Africa. Additionally, plasma is also used in patients suffering from trauma, burns, shock and other emergencies, driving the growth of the segment over the study period. The hospital segment has been anticipated to witness a growth at 2.2% CAGR on account of the escalating patient visits to treat several diseases. Furthermore, increasing trauma cases as well as road accidents will boost the growth of this segment.

More Insightful Info: https://www.marketwatch.com/press-release/platelet-and-plasma-market-to-surpass-usd-65-bn-by-2024-2018-09-05

With the rise in the cases of neurological conditions like multiple sclerosis, inflammatory dysimmune and myasthenia gravis along with the increasing number of patients with orthopedic injuries and cardiothoracic disorders, the U.S. is bound witness a growth in its market share. U.S. platelet and plasma industry size held a revenue share of more than 34% in the year 2017.

There have been several initiatives taken by the American Red Cross to raise awareness associated with the importance of blood donation. The presence of compensated as well as non-compensated systems of blood donation in the U.S. will foster regional growth.

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