Blood Plasma Derivatives Market Projected to Grow at a Steady Pace During 2027
The global blood plasma derivatives market is growing mainly due to the increasing demand for plasma derived products. According to a recent study report published by the Market Research Future, The global blood plasma derivatives market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2023, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2023).
Plasma is a fluid part of the blood that contains blood cells, and protein responsible for blood clotting. Plasma derivatives are obtained from specific plasma proteins by the process of fractionation. The derivatives are then solvent detergent-treated or heat-treated to kill certain viruses. The most common plasma derivative includes factor IX concentrate, factor VIII concentrate, anti-inhibitor coagulation complex (AICC), anti-thrombin III concentrate, immune globulins, Alpha 1-Proteinase inhibitor concentrate, albumin, and anti-thrombin III concentrate. Blood plasma derivative widely used clinically to treat various conditions such as hemophilia A, hemophilia B, HIV, hepatitis B, hepatitis C, thrombocytosis, and others.
Notably, rising demand for plasma derivative based therapies is the key factor driving the blood plasma derivatives market. According to a study published in the Journal of Blood Medicine in 2016, it is found that FIX replacement therapy which includes plasma-derived protein are successful in the reduction of disability, and bleeding from hemophilia B. Based on the prevalence rate, hemophilia and von willebrand disease (VWD) are the most common bleeding disorders in the Middle East and Africa. According to the 2014 Annual Global Survey of World Federation of Hemophilia (WFH), in 2014 the total population of Egypt was 86,895,099 out of which 5,246 people were living with hemophilia, 513 were living with von willebrand disease, and 1,123 with other bleeding disorders. It is also reported that 4201 cases of hemophilia A were registered and among them 37% were under 4 years.
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Other factors such as, rising incidence of hemophilia, huge funding for research & development, technological advancements, and rising approval from regulatory bodies are also fuelling the market growth. According to the Centers for Disease Control and Prevention, it is found that Hemophilia A affects 1 in 5,000 male births i.e. around 400 babies are born with hemophilia A every year.
Despite these drivers, stringent reimbursement policies, safety concerns, and high cost of treatment is expected to decline the blood plasma derivatives market growth.
Global Blood Plasma Derivatives Market - Competitive Analysis
Grigols (Spain), Baxter International Inc. (US), Octapharma AG (Switzerland), CSL Limited (Australia), Kedrion S.p.A (Italy), Bain Capital, LLC (US), Biotest AG (Germany), Fusion Healthcare (India), SK Plasma Co., Ltd. (South Korea) are some of the prominent players at the forefront of competition in the blood plasma derivatives market and are profiled in MRFR Analysis.
The global blood plasma derivatives market is currently dominated by few players.
Grigols is one of them by holding a strong share in the market. The company’s stronghold is largely attributed to its innovative and sustainable products. Grigols aoperates in three major divisions i.e. Bioscience, Diagnostic and Hospital. On November 17, 2017 Grigols received FDA approval for a new genetic test used to detect alpha-1 antitrypsin deficiency. On November 11, 2013, Grifols acquired blood transfusion testing unit of Novartis AG for USD 1.68 billion. In the year 2016, Grifols has also acquired NAT (Nucleic Acid Testing) donor screening unit of Hologic for USD 1,850 million.
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Baxter is also one of the leading player in blood plasma derivatives market. Baxter International Inc., the US based biopharmaceutical company, operates in two major segments, i.e. Hospital Products and Renal. Baxter’s product Bebulin (Factor IX Complex) is specifically used for the prevention, of hemorrhagic episodes in case of hemophilia B. Bebulin may carry a risk of transmitting infectious agents, such as viruses and, Creutzfeldt‐Jakob disease (CJD) agent.
On July 27, 2017, Baxter International Inc. completed the acquisition of Claris Injectables Limited for approximately USD 625 million. The main motive of acquisition is the expansion of generic pharmaceuticals.
On June 06, 2017, ADMA Biologics, Inc., a biopharmaceutical company, has acquired therapy business unit of Biotest Pharmaceuticals. As a result of this, ADMA acquired two FDA approved products i.e. Nabi-HB™, and and BIVIGAM™.
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