The Plasma Fractionation market studied is anticipated to grow with a CAGR of nearly 8.76%, during the forecast period. Certain factors that are driving the market growth include growing use of immunoglobulins in various therapeutic areas, rising geriatric population coupled with rise in prevalence of rare diseases, and increasing number of plasma collection centers across the globe.
The rise in the elderly population has led to the rise in demand for plasma fractionation. According to the Centers for Diseases Control and Prevention, the number of adults unable (or very difficult) to walk a mile was found to be around 17.1 million in 2016. As per the revised World Population Prospects, by the United Nations, the number of people aged 60 or above is expected to grow greater than double by 2050, i.e. from 962 million in 2017 to 2.1 billion in 2050, globally. This age group is highly vulnerable to different types of age-related diseases that require various plasma protein therapeutics.
Moreover, the increasing prevalence of debilitating neurological diseases, rheumatoid arthritis, and osteoarthritis has been contributing to the increased percentage of the population with a need for advanced therapeutics.
Key Market Trends
Albumin Shows Lucrative Growth Opportunity in the Global Plasma Fractionation Market
Human albumin (HA) is the most abundant circulating protein in the plasma of healthy individuals (3.5–5 g/dL). Albumin represents roughly 50% of the total protein content. HA is the main modulator of fluid distribution among the compartments of the body, providing approximately 70–80% of the total plasma oncotic pressure.
However, many other non-oncotic properties that are unrelated to the regulation of fluid compartmentalisation (and are mostly the result of the peculiar structure and conformation of the molecule) have been identified in the last two decades. Consequently, over the past decade, there has been an observed increment in the use of human albumin as a non-therapeutic material, specifically for commercial settings. A large number of biotech and biopharmaceutical firms are expected to develop recombinant versions of albumin to explore its potential in extending the half-life and stability to biologics and bio-similars. As of 2018, there were at least 15 products under clinical trial that involve the use of human albumin as an excipient (stabiliser and drug formulation).
In 2018, Grifols, one of the world's top three producers of plasma-derived medicines, conducted and successfully concluded the experimental phase of AMBAR (Alzheimer Management By Albumin Replacement) clinical trial.
North America Dominates the Global Plasma Fractionation Market
In the North American region, the United States accounted for the largest market share due to the rising geriatric population and various associated diseases. The Alzheimer's Association stated that around 5.8 million people in the United States are living with Alzheimer’s disease in 2018. This disease is the sixth leading cause of death in the United States and is more prevalent among people above 65 years of age, as approximately 5.6 million patients fall in this age bracket. With the baby-boom generation reaching around 65 years of age, this number is expected to reach 14 million, worsening the situation over the forecast period. By 2050, a new case of the disease is expected to develop every 33 seconds.
The major risk factor for most of the respiratory diseases is smoking. In 2016, more than 15 of every 100 US adults aged 18 years or older smoked cigarettes as per the estimates of Centre for Disease Control and Prevention (CDC). The cases of COPD is likely to increase in the US owing to higher smoking prevalence and aging populations in the country. Furthermore, as per the estimates of American Academy of Allergy, Asthma & Immunology, in 2016, around 8.3% of children in the United States had asthma. Asthma is the most common chronic disease in children.
The global Plasma Fractionation market is moderately competitive and consists of a number of major players. Companies like Bio Products Laboratory, Biotest AG, China Biologic Products, CSL Behring, Grifols S.A., Takeda Pharmaceutical Company Ltd, Kedrion S.p.A, Octapharma, Shanghai RAAS Blood Products, among others, hold the substantial market share in the market.
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