July 25, 2024

The Plasma Expander Market Is Estimated To Witness High Growth Owing To Increased Adoption & Growing Number Of Applications

The Plasma Expander Market is estimated to be valued at US$ 28.28 Billion in 2023 and is expected to exhibit a CAGR Of 6.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Plasma expanders are intravenous solutions used to expand plasma volume in conditions like hypovolemic shock, burns and hemorrhage. They help maintain blood flow and blood pressure by increasing intravascular oncotic pressure. The commonly used plasma expanders include albumin, synthetic colloids like hydroxyethyl starch and crystalloids like saline solution. Plasma expanders find widespread applications in trauma cases, surgery and during blood loss.

Market Dynamics:

The increasing prevalence of accidents, injuries and surgical procedures globally is expected to drive the demand for plasma expanders over the forecast period. As per estimates, around 5.3 million people die annually due to injuries sustained in road accidents worldwide. With rising road traffic, this number is projected to increase further. This has increased the need for trauma management using plasma expanders. Moreover, the growing geriatric population which is more prone to chronic conditions often requiring surgical interventions and suffering from injuries will further accentuate market growth. Additionally, advancements in medical technology have increased the number of complex surgeries performed, fueling the usage of plasma expanders across various surgical specialties. However, risks associated with the use of some synthetic colloids may hamper market growth to some extent over the forecast period.

Segment Analysis

The global plasma expander market is segmented into crystalloids and colloids. Among which, the crystalloids segment accounts for the largest market share owing to its widespread usage as an initial support fluid and low cost compared to colloids. Crystalloids such as saline and lactated Ringer’s solution are the most commonly used intravenous fluids and are considered the standard of care for fluid resuscitation. They help in preventing dehydration and are highly preferred for initial fluid resuscitation.

PEST Analysis

Political: The plasma expander market is positively impacted by various government initiatives across major markets to spread awareness about plasma expander therapies. However, stringent regulations pertaining to clinical trials and product approvals may hamper the market growth to some extent.

Economic: The growing per capita healthcare expenditure and rising disposable incomes have increased the adoption of advanced plasma expander therapies globally.

Social: Growing incidences of hypovolemia, burn injuries, blood loss during surgeries, and traumatic edema are boosting the demand for plasma expander therapies worldwide.

Technological: Continuous technological advancements in plasma expander production methods have led to the development of new generation plasma expanders with better efficacy and safety profiles.

Key Takeaways

The global Plasma Expander Market size was valued at US$ 28.28 billion in 2023 and is expected to reach US$ 41.12 billion by 2030, expanding at a CAGR of 6.7% during the forecast period. The growth can be attributed to the increasing prevalence of hypovolemic shock, burn injuries, trauma cases, and blood loss during surgeries.

Regionally, North America dominated the global plasma expander market and accounted for the largest market share in 2023. This can be credited to the rising geriatric population, increasing investment in advanced trauma management facilities, and presence of major players in the region. However, Asia Pacific is expected to witness the fastest growth over the forecast period owing to growing healthcare expenditure, improving access to modern medical facilities, and rising awareness about plasma expander treatments.

Key players operating in the plasma expander market are Baxter International Inc., Fresenius SE & Co. KGaA, CSL Limited, Grifols, S.A., B. Braun Melsungen AG, Hikma Pharmaceuticals PLC, Octapharma AG, Kedrion S.p.A., Shanghai RAAS Blood Products Co., Ltd., Terumo Corporation, JW Life Science, Celgene Corporation, Pentapharm Ltd., Haemonetics, Corporation, Macopharma. These players are focusing on new product innovations and expansion of manufacturing facilities to consolidate their market position.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it