Convalescent Plasma Therapy Market Growth And Forecast To 2024-2033

The Business Research Company recently released a comprehensive report on the Global Convalescent Plasma Therapy Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The convalescent plasma therapy market size has grown rapidly in recent years. It will grow from $0.05 billion in 2023 to $0.05 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to pandemics and infectious disease outbreaks, immunotherapy research, emergency use authorization (eua), patient availability, clinician and public awareness.

The convalescent plasma therapy market size is expected to see rapid growth in the next few years. It will grow to $0.08 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%. The growth in the forecast period can be attributed to evolving pathogens, immunotherapies development, regulatory frameworks, global preparedness, public health initiatives. Major trends in the forecast period include standardized collection and processing, targeted plasma components, personalized treatment, telemedicine and remote monitoring, research into long-term effects.

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Market Drivers and Trends:

Higher efficacy and safety evaluated during the trials conducted for CPT in COVID-19 patients can drive the market growth during the forecast period. Convalescent plasma transfusion has been of interest in the historical period for the treatment of other infectious disease outbreaks such as SARS‐1, Middle East Respiratory Syndrome (MERS), and 2009 H1N1. In June 2020, results of a study conducted by the Houston Methodist hospital, which aimed at evaluating safety and efficacy of COVID-19 convalescent plasma therapy, stated that the convalescent plasma therapy is safe with no adverse events reported and is efficient with 76% recovery rate. In May 2020, a study published in the Journal of Medical Virology stated that with convalescent plasma therapy, the mortality rate may be reduced in critically ill patients, beneficial effects on clinical symptoms will be observed, and an increase in neutralizing antibody titers and disappearance of SARS‐CoV‐2 RNA will be observed. The safety and efficacy of the convalescent plasma therapy in COVID-19 patients will boost the global convalescent plasma therapy market growth.

The development of antibody-based immunotherapy as a potential therapeutic intervention for COVID-19 shows opportunities for the convalescent plasma therapy market. Convalescent plasma therapy utilizes the antibodies produced against coronavirus by the donor to improve the immunity of the recipient. Companies are initiating trials, collaborating and investing for antibody-based COVID-19 therapy. In August 2023, Regeneron Pharmaceuticals Inc., a US-based biotechnology company, entered into a collaboration with the Biomedical Advanced Research and Development Authority (BARDA), to aid with the next-generation COVID-19 monoclonal antibody therapy's clinical development, clinical manufacturing, and regulatory licensure processes for preventing SARS-CoV-2 infection. This collaboration is a part of Project NextGen, an effort by the U.S. Department of Health and Human Services (HHS) to create a pipeline of modern COVID-19 vaccines and therapies. In accordance with the project's structure, Regeneron will independently develop and suggest an antibody candidate, which BARDA and Regeneron will then assess and select for additional research, manufacturing, and regulatory efforts. As convalescent plasma therapy utilizes antibodies, the focus over antibody-based COVID-19 therapy is expected to boost the market growth.

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Major Key Players of the Market:

Bio Farma, Hilton Pharma Ltd., Biotest AG, BPL Ltd., LFB SA, Octapharma AG, CSL Behring LLC, Takeda Pharmaceutical Company Ltd., Orthosera Kft., ADMA Biologics Inc., GC Biopharma Corp, Grifols S.A, Sanquin Plasma Products B.V., America's Blood Centers, Blood Centers of America Inc., Anthem Inc., Laboratory Corporation of America Holdings, Cerus Corporation, Emergent BioSolutions Inc., Kedrion Biopharma Inc., New York Blood Center, Blood Systems Inc., OneBlood Inc., Gulf Coast Regional Blood Center, Bloodworks Northwest, Blood Assurance Inc., New York Blood Center Inc., Honolulu Blood-Plasma Bank, Community Blood Center, LifeStream Blood Bank

Convalescent Plasma Therapy Market 2024 Key Insights:

• The convalescent plasma therapy market size is expected to see rapid growth in the next few years. It will grow to $0.08 billion in 2028 at a compound annual growth rate (CAGR) of 12.8%.
• Efficacy And Safety Propel The Convalescent Plasma Therapy Market
• Antibody-Based Therapies Uplift The Convalescent Plasma Therapy Market
• North America was the largest region in the convalescent plasma therapy market in 2023

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