Plasma Fractionation Market
Number of pages: 100 | Report Format: PDF | Published date: March 22, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 29.83 billion |
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Revenue Forecast in 2031 |
US$ 54.37 billion |
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CAGR |
6.9% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, Application, End-user, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global plasma fractionation market was valued at US$ 29.83 billion in 2022 and is expected to register a revenue CAGR of 6.9% to reach US$ 54.37 billion by 2031.
Plasma Fractionation Market Fundamentals
Plasma constitutes around 55% of a human's total blood volume. Plasma fractionation is the industrial process of turning freely donated plasma into life-saving medicines. Plasma proteins are separated using fractionation to generate several plasma protein treatments. Purification procedures, such as filtration, centrifugation, precipitation, and separation, are used. Plasma fractionation is a method of extracting and purifying proteins from human plasma. Plasma fractionation removes high-quality proteins, such as albumin and immunoglobulins, from the remainder of the plasma. Plasma is a component of blood that is thought to be a source of several proteins. Plasma fractionation aids in producing products from secreted and purified plasma for various treatments and therapeutic processes. Moreover, several current fractionation procedures extract particular therapeutic proteins by varying alcohol concentrations, temperature, duration, and PH. Furthermore, increased technical complexity and the introduction of in-process viral reduction treatments have led to novel protein medicines and enhanced product quality and purity.
Plasma products are also used in hospitals and clinical research labs. The rise in the geriatric population, which is more prone to uncommon disorders that require plasma derivatives for treatment, is the key driver of the market revenue growth. The plasma fractionation industry is rapidly growing as immunoglobulins and alpha-1-antitrypsin have become more widely employed in medicine worldwide. Furthermore, the increase in plasma collection facilities worldwide is crucial to market revenue growth.
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Plasma Fractionation Market Dynamics
The growing usage of immunoglobulins for various therapeutic purposes, including autoimmune illnesses, immunological deficiencies, and infectious diseases, propels the plasma fractionation market forward. The rising need for immunoglobulins in several research applications drives market revenue growth.
As more individuals globally develop rare illnesses, the market for plasma fractionation products has grown. Plasma derivatives treat rare disorders, such as Guillain-Barré syndrome and myasthenia gravis. These disorders are uncommon and poorly understood. As a result, there is a greater emphasis on the research and development of innovative medicines and medications for rare diseases, fueling the demand for plasma fractionation. The expanding elderly population considerably adds to the industry growth. Chronic and hematological illnesses are more common in the elderly. Guillain-Barré syndrome, for instance, is more common in elderly persons. Most thymoma patients develop myasthenia gravis between the age of 50 and 60. This boosts demand for plasma fractionation. As a result, the government and commercial groups are collaborating to educate patients about accessible and effective therapies, encouraging market revenue growth.
Employing recombinant alternatives for various plasma products, such as factor VIII, IX, and von Willebrand factor, is a major restraint to the plasma fractionation market revenue growth. Developing recombinant alternative products has made hemophilia therapy more efficient and cost-effective while eliminating the risks of infection associated with using plasma-derived products. Many businesses, such as Novo Nordisk, have introduced recombinant alternative goods, considerably influencing the market for plasma-derived products. Numerous market players have launched recombinant alternative products, significantly impacting the demand for plasma-derived products.
The plasma fractionation market is highly regulated by government regulatory bodies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency. These organizations have stringent regulations for the approval and sale of plasma products. For instance, the FDA requires that manufacturers comply with the Current Good Manufacturing Practice requirements and provide documentation, such as product specifications, manufacturing and testing protocols, and safety data for plasma products, before approval. Additionally, stringent regulations on the collection and distribution of plasma also limit market revenue growth.
Plasma Fractionation Market Ecosystem
The global plasma fractionation market has been analyzed from four perspectives: product, application, end-user, and region.
Plasma Fractionation Market by Product
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Based on the product, the global plasma fractionation market can be further segmented into albumin, immunoglobulin, coagulation factors, protease inhibitors, and others.
Immunoglobulins are used to treat immunodeficiency illnesses, idiopathic thrombocytopenic purpura, Kawasaki disease, and nervous system abnormalities, among other things. Immunoglobulins also treat uncommon disorders, such as lupus and vasculitis. They are also commonly prescribed for persons with Guillain-Barré syndrome, multiple myeloma, myasthenia gravis, acquired factor VIII inhibitor syndrome, autoimmune neutropenia, post-transfusion purpura, and polymyositis/dermatomyositis. Immunoglobulins can also treat primary and secondary immunodeficiency. A rise in the number of patients suffering from neurological disease and increased research and development for IVIg for other indications related to neurology, including Alzheimer's disease, are supporting the segment revenue growth. Intravenous immunoglobulin has a shorter response time than steroids or oral immunosuppressants. Therefore, increasing knowledge and widening immunoglobulin use drive this segment's prominent position.
Plasma Fractionation Market by Application
Based on the application, the global plasma fractionation market is segmented into immunology, neurology, hematology, critical care, pulmonology, and others.
The neurology segment accounted for the largest revenue share in the global plasma fractionation market. This is attributed to the extensive use of plasma-derived products for treating neurological disorders. Many neurovascular disorders are becoming more common as the older population grows. Beyond the age of 55, the risk of suffering a stroke doubles, which supports the use of plasma-based products for therapy.
Growing cancer cases is a major reason for the growth of the oncology segment. This growth can be owed to the increase in incidence, a rise in the aged population, rapid adoption of a modern and sedentary lifestyle, and an increase in tobacco smoking, including passive smoking, and poor health management among the population. The oncology segment is expected to have the greatest growth during the projected period, owing to the rapid usage of cancer plasma treatments to address previously intractable targets, such as those with the risk for metastasis and drug resistance. Also, comprehensive research on the complicated effects of cold atmospheric plasma in cancer treatment must proceed toward widespread clinical usage, promoting segment growth.
The rise of the hematology segment may be due to improvements in many hemostasis technologies. In addition, the occurrence of congenital bleeding diseases fuels market expansion. The increasing number of trauma cases and accidents worldwide is fueling the demand for plasma-derived products, such as coagulation factors in the critical care market, boosting revenue growth.
Plasma Fractionation Market by End-user
Based on the end-user, the global plasma fractionation market can be further segmented into hospitals & clinics, clinical research laboratories, and others.
The hospitals & clinics segment is projected to generate the highest revenue in the global market during the forecast period. The segment's growth is attributed to the increasing number of people opting for plasma-derived therapies across the globe. Various private hospitals with improved infrastructure and technology extensively offer plasma-derived therapies. The footfall of patients with rare immunodeficiency diseases is also high in hospitals.
The clinical research laboratories segment is in the second position in terms of market revenue share. The growth is due to the increasing demand for plasma therapy for rare diseases and growing R&D initiatives to develop more products for clinical applications.
Plasma Fractionation Market by Region
Based on the region, the global plasma fractionation market can be further segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominates the global plasma fractionation market with the largest revenue share. This is due to the growing knowledge of the multiple benefits of plasma in the U.S. market and the rise in the prevalence of rare congenital diseases. Furthermore, the existence of key companies, an increase in the number of plasma collection facilities, growth in immunoglobulin usage, and a large base of plasma collection centers and distribution lines help expand the North America plasma fractionation market.
Asia Pacific is estimated to be the fastest-growing region in the global plasma fractionation market. This is attributed to the increasing cases of chronic diseases and the growing geriatric population, thus fueling the need for plasma fractionation. Additionally, growing technological advancements and improving healthcare infrastructure with increasing healthcare expenditure provide a sustainable growth environment in the Asia Pacific. Furthermore, rising government efforts and investments in life science research and development in regional countries, such as Japan and India, will likely assist regional growth during the forecast period.
Plasma Fractionation Market Competitive Landscape
The prominent players operating in the global plasma fractionation market are:
Plasma Fractionation Market Strategic Developments
Fractionation is a method of utilizing a machine to separate a certain amount of a mixture. The yellowish liquid component of blood that includes blood cells is known as plasma. Plasma fractionation separates high-quality proteins, such as albumin and immunoglobulins, from the remainder of the plasma.
The rise in the geriatric population and the increase in rare, congenital, and hematological disorder cases drive the global plasma fractionation market revenue growth.
Grifols S.A., CSL Limited, and Takeda Pharmaceutical Company Limited are key companies operating in the global plasma fractionation market.
The availability and usage of alternative recombinant techniques for plasma products are hindering the revenue growth of the plasma fractionation market.
The global plasma fractionation market is expected to grow at a revenue CAGR of 6.9% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain