The global Blood Plasma Derivatives Market is estimated to be valued at US$ 44.33 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Blood plasma derivatives are obtained from human blood plasma through various purification techniques. They are used for the treatment of various diseases like haemophilia, primary immune deficiency, Hereditary Angioedema (HAE), and others. The derivatives obtained offer advantages like availability in required dosage and ease of administration through injections or infusions.
Market key trends:
One of the key trends in the market is increasing use of immunoglobulin for treatment of various neurological and immunological disorders. Immunoglobulin is obtained from pools of thousands of blood plasma donations. It contains antibodies that help fight infections and inflammation. Due to promising results for treatment of various conditions, the demand and sales of immunoglobulin preparations is increasing significantly thereby driving the overall blood plasma derivatives market growth during the forecast period.
SWOT Analysis
Strength: The market has high demand due to wide range of clinical applications of plasma derived products in therapeutics. Plasma derived medicines help in treating immunodeficiencies, bleeding disorders, and other chronic diseases.
Weakness: High cost associated with plasma collection, testing, purification and production processes. There is a risk of transmission of infectious diseases if proper donor selection and product manufacturing processes are not followed.
Opportunity: Increased investments by governments and key market players for setting up plasma collection centers and production facilities. Rising geriatric population globally increases the demand for plasma therapeutics significantly.
Threats: Stringent regulations for plasma collection and production. Alternative therapies threaten the growth of plasma derived medicines. Technological advancements in recombinant products pose competition to plasma derivatives.
Key Takeaways
The Global Blood Plasma Derivatives Market Size is expected to witness high growth, exhibiting CAGR of 9.3% over the forecast period, due to increasing prevalence of diseases requiring plasma therapeutics and rising healthcare expenditures.
Regional analysis: North America holds the major share in the global blood plasma derivatives market due to strong healthcare infrastructure, high healthcare spending and presence of key market players. Asia Pacific exhibits highest growth rate owing to growing patient population, increasing healthcare awareness and improving healthcare spending in China and India.
Key players operating in the Blood Plasma Derivatives Market includes 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., among others.
The global blood plasma derivatives market size for 2023 is estimated to reach US$ 44.33 Bn. Key growth drivers are increasing prevalence of immunodeficiencies, hemophilia and other blood related disorders.
