According to Research Dive analysis, the global plasma fractionation market is estimated to generate a revenue of $45,805.8 million by 2027, increasing from $ 25,403.4 million in 2019, at a healthy CAGR of 7.0%.
Impact Analysis of COVID-19 on the Global Plasma Fractionation Market:
During the COVID-19 pandemic, plasma therapy emerged as a hope for the patients and this has accelerated the plasma fractionation market growth. The convalescent plasma derived from recovered coronavirus patients is used for the treatment of infected patients. Although, the pandemic resulted in growth of the plasma fractionation market, it has also had a negative impact on the market. The pandemic resulted in reduced demand for the plasma therapeutics due to delayed surgeries and treatment of autoimmune disorders as the number of donors decreased and thus the supply of blood.
Global Plasma Fractionation Market Analysis:
Rising demand for immunoglobulins in application centers such as neurological, immunology, pulmonary, hematological, and other therapeutics will accelerate the plasma fractionation market growth. For instance, as per the news published in Pharmacy Time, on April 29, 2021, plasma therapy and intravenously-injected immunoglobulin treatment have been studied to be an effective therapeutic option to treat COVID-19 infection.
Also, increasing autoimmune diseases in geriatric population is anticipated to flourish the growth of the plasma fractionation market globally. Furthermore, the establishment of plasma collection centers at various places across the world for plasma donation and processing by healthcare communities and government have also increased the market revenue of plasma fractionation market.
However, the high cost of plasma therapy restrains the market from growth. Also, the increasing use of alternatives such as fibrinogen concentration for treating chronic diseases like type 1 diabetes has also obstructed the plasma fractionation market growth. Moreover, the restricted medical reimbursement policies for plasma therapy further impedes the growth of the market.
Various companies are investing in research and developmental activities in plasma therapy. The coronavirus pandemic has opened various opportunities for biotech and biopharma companies to work in research and development to discover and innovate plasma therapies. Many companies have decided to go for collaborations to study the effectiveness of plasma therapy on COVID patients. Furthermore, unhealthy lifestyle such as consumption of alcohol and tobacco, fast food and more increases the risk of inflammatory disorders in people, which consequently increases the opportunities for the plasma fractionation market growth.
Based on product, the plasma fractionation market is mainly classified into sub-segments like immunoglobulin, albumin, coagulation factors, protease inhibitors, and others.
The immunoglobulin sub-segment shall have the fastest market growth and it is anticipated to generate a revenue of $22,439.3 million by 2027.
Based on application type, the plasma fractionation market is divided into sub-segments such as neurology, immunology, hematology, critical care, rheumatology, pulmonology, and others. The neurology sub-segment garnered $16862.3 million in 2019 and is projected to grow exponentially by 2027.
Based on end user, the global market is divided into hospitals & clinics, clinical research laboratories, and academic institutes. The hospitals & clinics sub-segment is predicted to be growing significantly, and it is expected to cross $ 41162.7 million by 2027.
Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific plasma fractionation market is anticipated to rise at a growth rate of 8.3% by 2027 from the revenue generated in 2019.
The companies involved in the global plasma fractionation market are Kedrion S.P.A, Sanquin, Octapharma, Japan Blood Products, Bio Products Laboratory, China Biologics Products Holdings, Biotest AG, CSL Behring, Octapharma AG, and Grifols.