What is the Impact of COVID-19 Pandemic on the Plasma Therapy Market?

Increase in geriatric population, rise in prevalence of rare diseases, surge in number of plasma collection centers in the majority of countries, and upsurge in the number of androgenic alopecia patients across the world drive the growth of the global plasma therapy market. On the other hand, high cost of plasma derived products impedes the growth to some extent. However, high growth potential in the emerging economies has been highly beneficial for the market growth.

The global plasma therapy market size was valued at $0.35 billion in 2020 and is projected to reach $0.69 billion by 2030 registering a CAGR of 8.50% from 2021 to 2030.

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Rise in prevalence of life-threatening diseases, which include various neurological system disorders such as chronic inflammatory demyelinating polyneuropathy (CIPD), idiopathic thrombocytopenic purpura (ITP), and multifocal motor neuropathy (MMN). In addition, rise in occurrence of contagious diseases such as hepatitis A&B, tetanus, and rabies is estimated to impact the market positively during the forecast period.

Geriatric population suffers from various diseases and is more prone to infectious diseases due to weak immunity. This is expected to increase demand for plasma therapy, which, in turn, is expected to boost the market growth. However, high cost of plasma therapy is anticipated to restrain the global plasma therapy market. In addition, rise in number of patients that are suffering from orthopedic disorders and androgenic alopecia further provide opportunities for the plasma therapy market in the coming years.

COVID-19 scenario-

Plasma from the blood of a patient who recovered from the COVID-19 is used for treatment of another patient suffering from COVID-19. Convalescent plasma can potentially develop as an effective treatment option to battle against the pandemic. This way, increase in demand for plasma derived immunoglobulins has driven the market growth of the plasma therapy market.

This trend is quite likely to continue till the pandemic is completely gone.

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North America held the major share in 2020-

By region, the market across North America dominated in 2020, garnering more than two-fifths of the global plasma therapy market, due to rise in research and developments made by government and private sectors propels the market growth in this region. Simultaneously, the Asia-Pacific region is expected to cite the fastest CAGR of 10.8% throughout the forecast period. Growing population and rise in awareness of blood donation among individuals in this region drive the market growth.

Key players in the industry-

Regen Lab SA
Zimmer Biomet
MTF Biologics
Arthrex
Terumo Corporation
Exactech, Inc.
Ony Biotech Inc.
Johnson & Johnson (DePuy Synthes)
Pfizer Inc.
Teva Pharmaceutical Industries Ltd.

Read More:

https://www.alliedmarketresearch.com/plasma-therapy-market-A13680

"growth of the plasma therapy market is driven by rise in prevalence of life-threatening diseases, which includes various neurological system disorders such as chronic inflammatory demyelinating polyneuropathy (CIPD), idiopathic thrombocytopenic purpura (ITP), and multifocal motor neuropathy (MMN) is anticipated to augment growth of the global plasma therapy market"

Onkar Sumant
Manager, Healthcare at Allied Market Research

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