by The Blood Plasma Derivatives Market is estimated to be valued at US$ 40.80 Bn In 2022 and is expected to exhibit a CAGR of 9.30% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The Blood Plasma Derivatives Market encompasses a wide range of products derived from blood plasma, including albumin, immunoglobulins, coagulation factors, and hyperimmune globulins. These products are extensively used in the treatment of various disorders and conditions such as immune deficiencies, hemophilia, and liver diseases. The market is driven by the increasing prevalence of chronic diseases, rising demand for plasma-derived therapies, and advancements in technology for plasma fractionation and purification. The growing geriatric population and the increasing number of surgeries and trauma cases are also contributing to the market growth.
Market Dynamics:
The Blood Plasma Derivatives Market is driven by two primary drivers. Firstly, the increasing prevalence of chronic diseases such as immune deficiencies and hemophilia is creating a high demand for blood plasma derivatives. Additionally, the rising demand for plasma-derived therapies, especially immunoglobulins, for the treatment of various conditions is further fueling market growth. Furthermore, advancements in technology for plasma fractionation and purification are enabling cost-effective production of blood plasma derivatives, which is driving market expansion. Overall, the market is expected to witness significant growth due to the increasing demand for plasma products and the expanding applications of blood plasma derivatives in the healthcare sector.
Segment Analysis:
The Blood Plasma Derivatives market can be segmented based on product type, application, and end-user. Based on product type, the dominating segment is immunoglobulins. This is due to the increasing prevalence of autoimmune diseases and the rising demand for immunoglobulin therapy. Immunoglobulins are widely used in the treatment of primary immunodeficiency disorders, which further contributes to the dominance of this segment in the market.
PEST Analysis:
Political: Government regulations and policies regarding the collection and distribution of blood plasma derivatives can impact the market. Stringent regulations ensure the safety and quality of these products.
Economic: The increasing healthcare expenditure and the rising demand for blood plasma derivatives contribute to market growth. Additionally, the growing geriatric population and the prevalence of chronic diseases drive the demand for these products.
Social: The awareness about the benefits of blood plasma derivatives in the treatment of various diseases is increasing among the population. This, along with the improving healthcare infrastructure, supports market growth.
Technological: Advances in technology have led to the development of more efficient methods for the collection and processing of blood plasma derivatives. This improves the quality and availability of these products.
Key Takeaways:
The global Blood Plasma Derivatives market is expected to witness high growth, exhibiting a CAGR of 9.30% over the forecast period. This growth can be attributed to the increasing prevalence of autoimmune diseases, the rising geriatric population, and the growing awareness about the benefits of blood plasma derivatives.
In terms of regional analysis, North America is the fastest-growing and dominating region in the market. This is due to the presence of well-established healthcare infrastructure, high healthcare expenditure, and favorable reimbursement policies.
Key players operating in the Blood Plasma Derivatives market include Shire Plc., CSL Limited, Octapharma AG, LFB S.A., Biotest AG, Grifols, S.A., SK Plasma Co., Ltd., Baxter International Inc., Green Cross Corporation, and Fusion Health Care Pvt. Ltd. These key players have a significant market presence and contribute to the growth of the market.
