Plasma Fractionation Market Trends, Market Share, Size, Growth Status And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Plasma Fractionation 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 plasma fractionation market size has grown strongly in recent years. It will grow from $28.95 billion in 2023 to $31.78 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to growing prevalence of hemophilia and immunodeficiency disorders, increased aging population, rising demand for immunoglobulins, expansion of plasma collection centers, growing number of surgical procedures .

The plasma fractionation market size is expected to see rapid growth in the next few years. It will grow to $46.72 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to rising global healthcare expenditure, growing applications of plasma-derived medicinal products, increasing investment in research and development, demand for plasma in the treatment of neurological disorders, expansion of plasma fractionation facilities. Major trends in the forecast period include development of new fractionation technologies, shift towards albumin and immunoglobulin therapies, rising demand for specialty plasma products, focus on pathogen inactivation technologies, strategic collaborations and partnerships in the plasma industry.

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Market Drivers and Trends:

The increasing number of chronic diseases is expected to propel the growth of the plasma fractionation market going forward. Chronic diseases are defined as conditions that last 1 year or more and require ongoing medical attention, their examples include diseases such as heart disease, cancer, and diabetes. Treatment of patients with chronic diseases through access to plasma products reduces morbidity, improves the quality of life, and is cost-effective, this will in turn increase the demand for plasma fractionation. For instance, in January 2023, according to a report published by the National Library of Medicine, a US-based agency, the number of individuals aged 50 years and older having one or more chronic illnesses is projected to rise by 99.5%, reaching 142.66 million by 2050, up from 71.522 million in 2020 in the United States. Therefore, increasing cases of chronic diseases are driving the growth of the healthcare analytical testing service market. Therefore, an increasing number of chronic diseases of all ages is expected to propel the plasma fractionation market growth.

Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.

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Major Key Players of the Market:

Baxter International Inc., Bio Products Laboratory Limited, Biotest AG, CSL Limited, Grifols S. A, ADMA Biologics Inc., Green Cross Corporation, Hualan Bioengineering Inc., Intas Pharmaceuticals Ltd., Japan Blood Products Organization, Kedrion S. P. A., Kamada Ltd., LFB Biomedicaments S. A. S, Octapharma AG, ProMetic Life Sciences Inc., Sanquin Plasma Products B. V., Shanghai Raas Blood Products Co. Ltd., Shire PLC, Takeda Pharmaceutical Company, Terumo BCT, Bioverativ Inc., China Biologic Products Holdings Inc., China National Biotec Group, Emergent BioSolutions Inc., Grifols International S. A., Bharat Serum Vaccines Limited, Plasma Therapeutics, Prothya Biosolutions B. V., BioPharma Plasma LLC, BioLife Plasma Services LP

Plasma Fractionation Market 2024 Key Insights:

• The plasma fractionation market size is expected to see rapid growth in the next few years. It will grow to $46.72 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%.
• Elevated Demand For Plasma Fractionation Driven By The Escalating Burden Of Chronic Diseases
• Revolutionizing Plasma Fractionation Market Through Technological Advancements
• North America was the largest region in the plasma fractionation market in 2023

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