by Blood plasma derivatives are key therapeutic components that are produced from human blood plasma. They are used to treat various medical conditions like bleeding disorders, immunodeficiencies and neurological disorders. The growing prevalence of such ailments has increased the demand for blood plasma derivatives across hospitals and clinics.
The global Blood Plasma Derivatives Market is estimated to be valued at US$ 51.07 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand for blood plasma derivatives in medicine is one of the key trends that is projected to drive the growth of the global blood plasma derivatives market over the forecast period. Blood plasma contains proteins like immunoglobulins and clotting factors that are used to manufacture various medicines for treating hemophilia, primary immune deficiency and other disorders. With a rise in the cases of such medical conditions globally, the consumption of blood plasma derivatives for producing therapeutic drugs is also increasing steadily. Furthermore, ongoing research and development activities to develop new plasma-derived pharmaceuticals for neurological illnesses and autoimmune diseases have enhanced the utilization of blood plasma derivatives. This rising dependence on blood plasma derivatives in the medical industry will continue to propel the market expansion during the forecast period.
SWOT Analysis
Strength: The blood plasma derivatives market is essential for the treatment of various diseases. Plasma derivatives play a crucial role in the treatment of bleeding disorders, immune deficiencies, and other conditions.
Weakness: High cost associated with plasma collection, fractionation, and downstream processing acts as a restraint. Rise in demand-supply gap of source plasma also impedes market growth.
Opportunity: Growing geriatric population susceptible to chronic diseases and increasing prevalence of hemophilia offer lucrative growth opportunities. Emerging economies also present ample opportunities.
Threats: Stringent regulations associated with collection and testing add to compliance challenges. Threat of substitute therapies and emergence of recombinant alternatives also poses threats.
Key Takeaways
Global Blood Plasma Derivatives Market Size is expected to witness high growth over the forecast period of 2024 to 2031 driven by the growing prevalence of hemophilia and other bleeding disorders.
Regional analysis:
North America currently dominates the market and is expected to maintain its leading position over the forecast period. This can be attributed to the presence of well-established healthcare systems and high healthcare spending in the region. The Asia Pacific market is anticipated to register fastest growth during the forecast period supported by growing geriatric population, expanding healthcare industry, and rising investments by key market players.
Key players analysis:
Key players operating in the blood plasma derivatives market are Iron Mountain, ARC, Access, Shred-it, Restore plc, Cintas, Proshred, National Document Shredding Service, Shred Station, Red Dog Shred, Shred-X, Secured Document Shredding, Shred Works, Guardian Data Destruction, EndoShred, Mobile Shred, ShredQuick, ProShred Chicago, Shreds Unlimited. These companies are focusing on new product launches, partnerships, and expansions to strengthen their market position. For instance, Access launched a new plasma center in Orlando, Florida in 2020 to expand its collection capabilities in the US market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
