Press release
Global Plasma Protein Therapeutics Market by Type & Application 2016 - 2024
Recent advancements introduced in plasma protein therapeutics aimed at improving the quality of patient care have been pivotal in fuelling their demand. These advancements have also proven crucial in guaranteeing donor’s safety. The increasing demand for immunoglobulin (IG) and the increasing use of protein therapeutics will thus augment demand for plasma protein therapeutics. TMR expects, the global market for the same to rise at a CAGR of 7.0% between 2016 and 2024. The market stood at US$18.5 bn in 2015 and is expected to reach US$31.84 bn by the end of 2024. Despite exhibiting growth at a positive rate, stringent regulations and lack of proper reimbursement policies could hamper the market’s trajectory.
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North America, trailed by Europe, Exhibits Most Lucrative Prospects for Market
Regionally, North America, Asia Pacific, Europe, Latin America, and Rest of the World constitute the most lucrative markets for plasma protein therapeutics. Among these regions, North America held the dominant share in the global market in 2015, trailed by Europe. New indications, the increasing geriatric population, and investments in novel researches are boosting prospects for the market in North America. As per TMR, the North America plasma protein therapeutics market is expected to reach US$13.8 bn by the end of 2024 from a valuation of US$7.5 bn in 2015. If the figures hold true, the regional market will exhibit a CAGR of 7.9% during the forecast period.
In Europe, demand for protein therapeutics is increasing consequent to the rise in the number of clinical indications for immunoglobulin. Since immunoglobulin finds application across hematology, neurology, dermatology, nephrology, immunology, ophthalmology, rheumatology, and others, demand for protein therapeutics in Europe is expected to remain high.
During the forecast period, TMR projects Asia Pacific to emerge as the most lucrative market for plasma protein therapeutics. The rising demand for albumin and immunoglobulin in Asia Pacific is bolstering prospects for expansion of the market in the region. Furthermore, the region is also known to import albumin and immunoglobulin from North America and Europe. China as per TMR, imports nearly half of its albumin supply in order to bridge the demand and supply gap. The albumin segment is thus expected to register the fastest growth in Asia Pacific. In Latin America, however, the plasma protein therapeutics market is restrained by low rate of diagnosis and treatment and high pricing.
Growth to be Facilitated by Rising Incidence of Immunodeficiency Disorders
Plasma protein therapeutics is increasingly used in the treatment of primary immunodeficiency disorder (PID). The PID segment is likely to exhibit a CAGR of 7.6% between 2015 and 2024. The PID treatment segment is poised to gain considerably from the increasing investment immunoglobulin. Furthermore, with the increasing incidence of secondary immunodeficiency disorders, applications of plasma protein therapeutics is likely to increase across the treatment of prolonged illnesses. The most common secondary immunodeficiency disorders include diabetes, myeloma, HIV infection, and under-nutrition. Despite being a rare disorder, treatment of hereditary angioedema (HAE) has become possible due to the growing awareness regarding the disease worldwide. This is expected to boost the demand for plasma protein therapeutics significantly.
Some of the leading players operating in the global plasma protein therapeutics market include
Baxter International, Biotest, CSL Behring, Grifols, S.A., Kedrion, Octapharma USA, Inc., Shire plc, and China Biologics.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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