Global Plasma Fractionation Market to reach USD 31,710.5 MN by 2024
Posted On September 07, 2018
The market report on Global Plasma Fractionation Market published by Value Market Research (VMR) estimates the market to showcase a high 7% CAGR between 2018 and 2024. With this perceived growth the worldwide market is sure to cross USD 31,710.5 MN by 2024.
As per this study the growth of the market is mainly attributed to the factors such as rise in the use of prophylactic treatment for immune & bleeding diseases and increased diagnosis rate worldwide. Ongoing growth in geriatric population and increasing use of the alpha-1-antitrypsin and immunoglobulin for various chronic diseases is likely to contribute to the growth of the global plasma fractionation market. Additionally, the rising incidence of the immunological and neurological diseases worldwide along with increasing use of intravenous immunoglobulin in various therapeutic areas is boosting the growth of the plasma fractionation market. On the flip side, high cost associated with the treatment and strict government policies are likely to limit the market growth under the forecast period.
The report "Global Plasma Fractionation Market Report By Product (Albumin, Immunoglobulins, Coagulation Factor Concentrates, and Others), Application (Neurology, Immunology, Hematology, Critical Care, Pulmonology, and Other), End-User (Hospitals & Clinics, Clinical Research Laboratories, And Academic Institutes) And By Regions - Industry Trends, Size, Share, Growth, Estimation and Forecast, 2017-2024"covers segmentation of the market on the basis of product, application, and end-user.
Plasma fractionation is a process of extracting various components of blood-derived plasma. It acts as nature’s raw material which is used in dozens of life-saving treatments and medications. This process is used in treating protein deficiency disorders in healthcare applications. The removal or inactivation of viruses and prions is a prime function of plasma fractionation. Plasma contains various proteins including immunoglobulins, albumin, and clotting proteins such as fibrinogen. Among these albumin constitutes about 60% of the total protein in plasma and is present at concentrations between 35 and 55 mg/ml.
In the report the segmentation by product covers Albumin, Immunoglobulins, Coagulation Factor Concentrates, and Others. Immunoglobins is the leading segment owing to the growing incidence of chronic inflammatory demyelinating polyneuropathy and hypogammaglobulinemia disease coupled with rise in the use of immunoglobulins to treat Guillain-Barre syndrome, inflammatory myopathies, and specific antibody deficiency disorder. By application the market is segregated into neurology, immunology, hematology, critical care, pulmonology, and other applications include hemato-oncology and rheumatology. Among this immunology is the dominating segment owing to the rising prevalence of immunodeficient disorder across the globe. The high growth of this segment can be attributed to the increasing adoption of plasma products in the treatment of various immunological, neurological, and bleeding disorders. On the basis of the end-user, the market is segmented into hospitals & clinics, clinical research laboratories, and academic institutes. The hospitals & clinics segment is dominating among other, owing to the increasing adoption of plasma products in the treatment of various immunological, neurological, and bleeding disorders. By region, the market is analyzed across the region of North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
From the geographical perspective, North America is accounted for the largest share in the global plasma fractionation market due to increased use of immunoglobulin in the treatment of neurological diseases. Moreover, increasing number of hemophilic patients in North America is also expected to boost the market growth in the region. Followed by Asia Pacific region is growing at the fastest rate and is projected to continue in the years to come owing to the increasing use of immunoglobulin and albumin in therapeutic areas. Also, exponential growth in the geriatric population base and rising number of hemophilic patients is likely to contribute to the market growth. At the same time, Europe is substantially investing in R&D activities and has abundant growth opportunities, thus triggering the growth of the plasma fractionation market in the region. In Latin America the market growth of plasma fractionation entirely depends on the factors such as high prevalence of blood disorders among huge population base, rising awareness regarding blood abnormalities, and the growing innovation in clinical technology.
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Report Segments the Plasma Fractionation Market as -
- Coagulation Factor Concentrates
- Critical Care
- Hospitals & Clinics
- Clinical Research Laboratories
- Academic Institutes
Key players profiled in the report:
- North America
- Latin America
- Middle East & Africa
Grifols SA, Kedrion SPA, Bio Product Laboratory, Baxter International Inc., Biotest AG, CSL Ltd., Laboratoire Franais du Fractionnement et des Biotechnologies, Octapharma AG, and Sanquin Blood Supply Foundation.
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