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Blood Plasma Derivatives Market Size becoming larger and Massively Growing up with CAGR of 9.3% | Grifols, S.A., SK Plasma Co., Ltd
Blood Plasma Derivatives Market
The research report published by Allied Market Report states that the global blood plasma derivatives market is estimated to reach $44,333 million by 2023. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage.
Blood plasma is clear liquid component of blood in which red blood cells, white blood cells, and platelets are suspended. It plays a vital role in maintaining proper pH balance in the body and transporting nutrients throughout the body.
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It is composed of more than 100 different proteins, including albumin, fibrinogen, immunoglobulins, protease inhibitors, and clotting factors. Plasma derivatives are products that are derived from blood plasma on fractionation, and are widely used to treat variety of diseases. These derivatives include albumin, factor VIII & IX, anti-inhibitor coagulation complex (AICC), immunoglobulins, including Rh immune globulin, alpha 1-proteinase inhibitor concentrate, and anti-thrombin III concentrate.
The factors that drive the growth of the blood plasma derivatives market include increase in prevalence of life-threatening diseases such as immunodeficiency diseases and hemophilia, rise in awareness towards blood & plasma donation, upsurge in geriatric population, and growth in adoption of blood plasma derivatives products. However, high cost of plasma derivative-based treatment and risk of side effects associated after using plasma derivatives impede the market growth. Conversely, the development of superior methods for preservation of plasma derivatives along with advanced processes for fractionation and presence of untapped market in emerging economies are expected to provide lucrative growth opportunities for the market.
The immunoglobulin segment accounted for the largest share in 2016, owing to high usage & applicability for treating variety of immunodeficiency diseases and improved immunoglobulin production due to the emergence of advanced technologies. However, the albumin segment is expected to grow at the high CAGR from 2017 to 2023.
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The utilization rate of plasma derivatives for immunodeficiency diseases is high. However, hemophilia segment is expected to grow at a high CAGR during the forecast period. On the basis of end user, the hospitals segment occupied the largest share in 2016, whereas the clinics segment is expected to provide lucrative market opportunities during the forecast period.
North America was the leading revenue contributor to the global blood plasma derivatives market in 2016, and is expected to dominate the market during the forecast period. This is attributed to the early approval of plasma derivatives products and large number of fractionation plants in this region. However, Asia-Pacific is expected to grow at the highest CAGR during the study period, due to increase in affordability, surge in healthcare expenditure, and rise in awareness towards plasma derivatives.
The Major Key Players Are:
Grifols,S.A., SK Plasma Co., Ltd., Fusion Health Care Pvt. Ltd., Biotest AG, Green Cross Corporation, Baxter International Inc., LFB S.A., Octapharma AG, CSL Limited, and Shire Plc.
The Other Key Players Are:
China Biologic Products, Inc., Kedrion Biopharma, Inc., BDI Pharma, Inc., Bayer AG, and Hualan Biological Engineering, Inc.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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