Press release
Plasma Fractionation Market Trends: Increasing Immunoglobulin Use, Technological Advancements, Growing Geriatric Population | Global Market Set for $71.3 Billion by 2032
Plasma Fractionation Market
Market growth is propelled by increasing utilization of immunoglobulins across various therapeutic domains and the rising demand for plasma-derived medicinal products.
The Plasma Fractionation Market, valued at USD 29.86 billion in 2022, is anticipated to expand from USD 32.21 billion in 2023 to reach USD 71.3 billion by 2032, with a projected compound annual growth rate (CAGR) of 9.1% over the forecast period (2023 - 2032).
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Market Trends
Immunoglobulins serve as frontline treatment for various neurologic, immunologic, and hematologic disorders. Over the past decade, advancements in technology have led to increased diagnosis rates for immunological diseases. Genetic research efforts aimed at characterizing and diagnosing immunodeficiency are expected to further drive the clinical demand for immunoglobulins, fueled by a growing number of diagnosed patients. According to IG Living, a publication for the immune globulin (IG) community, both on- and off-label indications of IV-Ig exist, with off-label indications surpassing on-label ones in recent years.
Additionally, the prevalence of rare and autoimmune diseases, coupled with expanding global immunology research, is bolstering the growth of this market segment.
Competitive Insights
The Plasma Fractionation Market is characterized by the participation of numerous global, regional, and local vendors meeting the needs of research scientists, pharmaceutical companies, and biotechnology firms within the industry. This market encompasses tier-1, tier-2, and local players, with tier-1 and tier-2 companies boasting extensive global reach and diverse product offerings. Key players like CSL Behring (US), Grifols Therapeutics (Spain), Baxter International Inc (US), and Mitsubishi Tanabe (Japan) dominate the market, leveraging factors such as product differentiation, financial robustness, strategic advancements, and wide-ranging regional presence. These industry leaders prioritize investments in research and development, alongside adopting strategic growth approaches like expansion, product introductions, joint ventures, and collaborations to fortify their market standing and attract a broad customer base.
Key Companies in the market of Plasma Fractionation include:
CSL Behring (US)
Grifols Therapeutics (Spain)
Baxter International Inc (US)
Mitsubishi Tanabe (Japan)
Takeda Pharmaceutical (Japan)
Octapharma AG (Switzerland)
Hualan Bio (China)
Kedrion S.p.A (Italy)
LFB group (France)
Biotest AG (Germany)
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Segment Analysis:
The global plasma fractionation market is categorized based on product type, application, and end user.
Regarding product type, the market includes immunoglobulin, coagulation factor concentrates, albumin, protease inhibitors, and others. In 2022, the immunoglobulin segment accounted for over 50% of market revenue, attributed to the rising incidence of immunodeficiency diseases, increasing aging population, and advancements in plasma collection and fractionation technologies. This segment is expected to maintain its leading position in revenue generation during the forecast period, driven by continuous innovations and new product launches.
By application, the market is segmented into immunology, neurology, hematology, critical care, pulmonology, rheumatology, hemato-oncology, and others. The neurology segment was anticipated to hold the largest market share in 2022.
Regarding end user, segments include hospitals & clinics, clinical research laboratories, academic institutes, and others. The hospitals & clinics segment is projected to dominate the market share during the forecast period.
Regional Analysis:
The global plasma fractionation market is regionally divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America comprises the US and Canada. Europe includes Germany, France, the UK, Italy, Spain, and the rest of Europe. The Asia-Pacific market encompasses China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World includes the Middle East, Africa, and Latin America.
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North America held the largest market share in 2022, driven by the increasing number of plasma collection centers and efforts to enhance plasma supply.
Europe has shown consistent growth due to rising demand for plasma-derived products and an increasing number of plasma collection centers.
Asia-Pacific is expected to witness the fastest growth during the forecast period, attributed to factors such as the growing geriatric population, government support through Medicaid and healthcare policies, and advancements in healthcare infrastructure.
The Rest of the World, including the Middle East, Africa, and Latin America, experiences growth driven by high prevalence of autoimmune diseases and government initiatives to enhance healthcare infrastructure.
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