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Global Animal Blood Plasma Products and Derivatives Market 2024 | SWOT Analysis, Revenue Analysis, Recent Development, New Trends, And Forecast
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The global animal plasma products and derivative market was valued at US$1.04 bn in 2015 and is estimated to attain the value of US$1.92 bn by the end of 2024 at a CAGR of 7.10% over the forecast period from 2016 to 2024. North America accounted for the largest share in 2015 in the market and expected to continuous its dominance over the forecast period owing to presence of numerous prominent players which are constantly improving the products to be used in the numerous applications. The applications of animal blood plasma products and derivatives in the food industry is anticipated to grow owing to wide applications of plasma in making food products in various developed markets.
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Product Advancements to Influence Growth Positively
Development in animal blood plasma products and derivatives has boosted adoption of animal blood plasma products and derivatives across numerous sectors in the food industry mainly for making pet food. Animal blood plasma products and derivatives are suitable alternative for the plant-extracted proteins for manufacturing pet food. Demand for the high quality products for manufacturing variety of pet food is rising, which is key factor fuelling growth of the global animal blood plasma products and derivatives market.
Continuous advancements and improvements in the blood collection processes have boosted adoption of these products and derivatives from numerous industries such as pharmaceutical industry, nutrition supplements, sports nutrition, cosmetic industry, and diagnostics. Additionally, improvement in the supply chain analysis by the key players in the market is leading to easy availability of products which is fuelling growth of the global animal blood plasma products and derivatives market.
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Growing Cell Culture Media and Food Industry to Offer Lucrative Opportunities
Despite aforementioned drivers, price volatility in animal blood plasma products is a key factor hindering the growth of the market. Furthermore, rising prevalence of diseases among animals is expected to hamper growth of the global market for animal blood plasma products and derivatives. Nevertheless, recent developments for improving the techniques for processing blood plasma and derivatives are creating lucrative opportunities for key players operating the international market. Furthermore, the growing cell culture media industry in the conventional research and mainly for development of novel biomolecules and numerous therapeutics is expected to create lucrative growth opportunities over the forecast period.
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This review is based on a report by TMR, titled “Animal Blood Plasma Products and Derivatives Market (Derivatives Type - Immunoglobulin, Fibrinogen, Serum Albumin, and Fetal Bovine Serum; Application - Cell Culture Media, Food Industry, Pharmaceutical Industry, Sports Nutrition, Nutrition Supplements, Cosmetic Industry, Diagnostic Industry, and Pet Food Industry; Animal Type - Bovine and Ovine) - Global Industry Analysis, Size, Share, Growth, Trends, & Forecast 2016 - 2024.”
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