New York, Nov. 03, 2021 (GLOBE NEWSWIRE) — Plasma Fractionation Market: Key Insights
According to our latest study on Plasma Fractionation Market Size, Share, Revenue, Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Immunoglobulin, Albumin, Coagulation Factor Concentrates, Protease Inhibitors, Other Plasma Products); Application (Neurology, Immunology, Hematology, Critical Care, Pulmonology, Other Applications); End User (Hospitals and Clinics, Clinical Research Laboratories, Academic Institutes), and Geography.
| Report Coverage | Details |
| Market Size Value in | US$ 26,575.83 million in 2021 |
| Market Size Value by | US$ 40,731.98 million by 2028 |
| Growth Rate | CAGR of 6.3% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 202 |
| No. Tables | 111 |
| No. of Charts & Figures | 81 |
| Historical Data Available | Yes |
| Segments Covered | Product, Application, End User, and Geography |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country Scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Plasma Fractionation Market: Competitive Landscape and Key Developments
Bio Products Laboratory LTD, CSL Limited, Biotest AG, Sanquin, Bharat Serums and Vaccines Limited, Grifols S.A, Kedrion, SK Plasma, Plasmagen Biosciences PVT. LTD, and Octapharma AG. are among the key companies operating in the plasma fractionation market. Leading players are focusing on the launch of products, expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
In May 2021, Liminal BioSciences entered into an agreement with Kedrion to divest its Plasma Collection and Plasma-Derived Therapeutics Business.
North America is expected to hold the largest share of the plasma fractionation market during the forecast period. The US is expected to be the largest and fastest-growing market in this region. It is one of the highly advanced countries having access to a robust, technologically advanced medical infrastructure, which is contributing to the growth of the plasma fractionation market in the US.
Blood plasma transfusion is among the emerging method implemented for treating various chronic diseases. The plasma consists of essential components, including proteins, albumin, globulins, fibrinogen, clotting factors, and inhibitors. It is widely used to treat blood cancer, COVID-19, atrial fibrillation, leukemia, and other diseases. The plasma is separated from the donated blood by using a plasma fractionation instrument. In August 2020, the US Food and Drug Administration (USFDA) issued the emergency use authorization (EUA) for convalescent plasma treatment of COVID-19. In addition to this, in February 2021, it issued an updated guideline for the plasma EUA for COVID-19. Thus active involvement and approval by the regulatory bodies and governments are expected to encourage the application of blood plasma. Blood plasma can be stored for up to a year by freezing it within 24 hours of blood donation, and the frozen plasma can be used post thawing process; freezing protects the integrity of valuable clotting factors. Almost every country has many blood bank facilities, and they are accessible by healthcare service providers; they can be funded various governments and other private organizations. In 2021, the American Association of Blood Banks (AABB) granted funding for research projects such as “Engineering Immunotherapy Resistant Hematopoiesis to Treat High-Risk Acute Myeloid Leukemia” and “New Approaches to Study and Treat Alloantibody-Mediated Diseases Resulting from Blood Transfusions.” Thus, the increasing application of plasma therapy in the treatment of various medical conditions is boosting the blood plasma fractionation market growth.
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Based on product, the plasma fractionation market is segmented into immunoglobulin, albumin, coagulation factor concentrates, protease inhibitors, and others. The immunoglobulin segment is projected to hold the largest share of the market in 2021, and it is further expected to register the highest CAGR in the market during 2021–2028. Based on application, the plasma fractionation market is segmented into neurology, immunology, hematology, critical care, pulmonology, and others. The neurology segment is estimated to hold the largest share of the market in 2021, and it is expected to register the highest CAGR during the forecast period.
Growing Developments in Plasma Fractionation Technology Boost Market Growth:
As stated in the previous driver, the market offers considerable potential for the companies operating the market-related businesses. Due to the positive market growth, the global and regional market players are actively adopting organic and inorganic development strategies. Thus it is expected to attract more significant investments in the market in the forecast period. For instance, below are some of the developments and initiatives adopted by the market players.
In March 2021, Grifols, S.A., among the global leader in plasma-related markets, acquired about 25 US-based plasma centers from Bio Products Laboratory Holdings Limited. It is expected to add about one million liters of plasma for the fractionation processes.
In August 2021, Biotest AG started about the sixth plasma collection center in the Czech Republic. The company received the operating license for these centers from the national public health authority SUKL. The center is state-of-the-art with about 15 donor beds and has facilities for the donors such as Television (TV), Wi-Fi, and others. The center is operational six days a week for twelve hours a day.
In February 2020, Advent International Corporation a US-based global private equity firm, acquired a majority stake in Bharat Serums and Vaccines. This investment is expected to strengthen and expand Bharat Serums’ offerings in domestic and global markets.
Plasma Fractionation Market: Segmental Overview
Based on end user, the plasma fractionation market is segmented into hospitals and clinics, clinical research laboratories, and academic institutes. The hospitals and clinics segment is expected to be the largest shareholder in the market in 2021, and it is expected to register the highest CAGR during 2021–2028.
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Key Questions to Request for Plasma Fractionation Market:
- What are the Plasma Fractionation?
- What are the driving factors for the plasma fractionation market across the globe?
- What are the restraining factors for the plasma fractionation market across the globe?
- Who are the key players in the plasma fractionation market?
- What are the strategies adopted by the top market players to penetrate across emerging regions?
- Which region is expected to witness significant demand for plasma fractionation market in the coming years?
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