COVID-19 is Impacting on Plasma Fractionation Market to Reach $30.53 Bn, Globally, by 2028 at 6.1% CAGR, with Major Key Companies Baxter International , CSL LTD., Bio Product Laboratory, Octapharma

According to a new report published by Allied Market Research published a report, titled, "Plasma Fractionation Market by Product (Albumin, Immunoglobulins, and Coagulation Factor VIII), Application (Neurology, Hematology, Immunology, Critical Care and Others), End User (Hospitals, and Research Laboratories): Global Opportunity Analysis and Industry Forecast, 2020-2028.

Plasma Fractionation market garnered $16.82 billion in 2018, and is estimated to reach $30.53 billion by 2028, growing at a CAGR of 6.1% from 2020 to 2028.

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Increase in geriatric population, surge in prevalence of rare diseases, rise in usage of immunoglobulins in areas of medicine, and upsurge in number of plasma collection centers drive the growth of the global plasma fractionation market. However, high cost of plasma-derived products hinders the market growth. On the other hand, potential for growth in emerging countries create new opportunities in the market.

Key players of the industry:-

The global plasma fractionation market is highly competitive and the prominent players in the market have adopted various strategies for garnering maximum market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Grifols SA, Baxter International Inc., CSL LTD., Bio Product Laboratory, Octapharma AG, Sanquin, Laboratoire Franais Du Fractionnement Et Des, Kedrion, Biotest, and Takeda Pharmaceuticals.

The immunoglobulins segment to maintain its lead position during the forecast period:-

Based on product, the immunoglobulins segment contributed to more than two-thirds of the total share of the global plasma fractionation market in 2018, and is expected to maintain its lead position during the forecast period. Moreover, this segment is estimated to register the largest CAGR of 6.7% from 2019 to 2028. This is due to increase in recognition and treatment of immune deficiencies along with rise in the usage of high dose IgG products in the treatment of autoimmune neurologic diseases. The research also discusses segments such as albumin and coagulation factor VIII.

The neurology segment to maintain its leadership position during the forecast period:-

Based on application, the neurology segment held the highest market share of the global plasma fractionation market, accounting for more than two-fifths of the total share in 2018, and is estimated to maintain its leadership position in terms of revenue during the forecast period.

Moreover, this segment is estimated to grow at the highest rate with a CAGR of 6.8% from 2019 to 2028. This is due to increase in awareness related to diagnosis and treatment of neurological disorders in animals. The research also analyzes segments including hematology, immunology, critical care, and others.

China (including Taiwan) to present lucrative opportunities:-

Based on country, China (including Taiwan) contributed to the highest market share in terms of revenue, contributing to nearly one-fifth of the global plasma fractionation market in 2018, and is expected to maintain its dominance in terms of revenue during the forecast period. This country is expected to maintain the largest CAGR of 9.2% from 2019 to 2026, owing to huge patient base of disorders such as hemophilia, Von Willebrand disease, and others along with rise in awareness related to blood donations.

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