Press release
Convalescent Plasma Therapy Market Poised for Exponential Growth, Estimated to Reach $0.08 Billion by 2028
Convalescent Plasma Therapy Market Analysis
The Convalescent Plasma Therapy market has demonstrated significant growth, surging from $0.05 billion in 2023 to an anticipated $0.05 billion in 2024, with a commendable Compound Annual Growth Rate (CAGR) of 11.8%. Forecasts project an accelerated trajectory, reaching $0.08 billion by 2028, sustaining a robust CAGR of 12.8%.
Driving Forces:
Efficacy and Safety as Market Propellers:
The Convalescent Plasma Therapy market is propelled by higher efficacy and safety, as evidenced in trials conducted for COVID-19 patients. Extensive research, including randomized clinical trials, matched cohort studies, and case series, indicates a mortality benefit in immunocompromised patients with COVID-19. The proven safety and efficacy of convalescent plasma therapy contribute significantly to the market's growth.
Increasing Hospital Numbers Fuel Market Expansion:
The rise in the number of hospitals is expected to bolster the Convalescent Plasma Therapy market. Enhanced healthcare infrastructure associated with increased hospital numbers translates into improved facilities for collecting, processing, and administering convalescent plasma. Recent reports from Public Health Scotland indicate a 3.6% increase in staffed beds for acute specialties, reflecting the growing healthcare capacity and subsequently driving market growth.
Explore the Global Convalescent Plasma Therapy Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3233&type=smp
Key Market Players:
Major contributors shaping the Convalescent Plasma Therapy market include Bio Farma, Hilton Pharma Ltd., Biotest AG, BPL Ltd., LFB SA, Octapharma AG, CSL Behring LLC, Takeda Pharmaceutical Company Ltd., and others.
Catalysts for Growth:
Antibody-Based Therapies as Market Boosters:
The development of antibody-based immunotherapy presents opportunities for the Convalescent Plasma Therapy market. Initiatives such as the collaboration between Regeneron Pharmaceuticals Inc. and the Biomedical Advanced Research and Development Authority (BARDA) for next-generation COVID-19 monoclonal antibody therapy underscore the market's potential. The focus on antibody-based COVID-19 therapy is expected to augment market growth.
Innovative Plasma Solutions in COVID-19 Treatment:
Companies like Grifols are advancing COVID-19 treatment through innovative plasma solutions. Grifols' collaboration with BARDA and the FDA involves collecting plasma to develop hyperimmune globulin as a treatment option for COVID-19 patients. The company also supports convalescent plasma therapy by providing inactivated plasma for transfusion using viral inactivation technology. Such collaborations contribute to the evolving landscape of convalescent plasma therapy.
Regional Landscape and Market Segmentation:
North America emerges as the largest region in the Convalescent Plasma Therapy market in 2023, with Western Europe securing the second-largest position.
The convalescent plasma therapy market covered in this report is segmented -
1) By Antibody type: IgM, IgG, IgA
2) By Application: Prophylaxis, Treatment
3) By End-Users: Hospitals & Clinics, Laboratories & Research institutes
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/convalescent-plasma-therapy-global-market-report
Convalescent Plasma Therapy Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Convalescent Plasma Therapy Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on convalescent plasma therapy market size, convalescent plasma therapy market drivers and trends, convalescent plasma therapy market major players, competitors' revenues, convalescent plasma therapy market positioning, and market growth across geographies. The convalescent plasma therapy market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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