The plasma derived medicine market involves manufacturing of medicines derived from human blood plasma. Some key plasma derived medicines include intravenous immunoglobulin (IVIg), factor VIII and factor IX derived from plasma. These medicines find application in treatment of primary immunodeficiencies, hemophilia, autoimmune disorders and other chronic disorders. Plasma derived medicines offer various advantages over alternate therapies such as effectiveness in treatment of immune deficiencies and bleeding disorders. With rising plasma collection worldwide and growing diseased population, the demand for safe and effective plasma derived medicines has increased significantly.
The global plasma derived medicine market is estimated to be valued at US$ 33,450 million in 2021 and expected to exhibit a CAGR of 6.8% during the forecast period (2021-2028).
Key Takeaways
Key players operating in the plasma derived medicine market are Grifols, S.A., SK Plasma, Fusion Healthcare, Takeda Pharmaceutical Company Limited, LFB, Octapharma AG, CSL Limited, Bio Products Laboratory Ltd., China Biologic Products Holdings, Inc., Kedrion. These players are focused on expanding their production facilities and plasma collection centers globally to cater to the Plasma Derived Medicine Market Growth.
The market provides numerous growth opportunities in developing economies owing to increasing healthcare investments and expanding patient pool. Further, rising plasma collection in under tapped markets will boost product supply.
The industry players are focusing on global expansion through partnerships, mergers and acquisitions. For instance, Grifols acquired various plasma centers in the US to strengthen its presence. Similarly, CSL completed the acquisition of Kansas based plasma collection firm, Imuny in 2022.
Market drivers
The key driver for the plasma derived medicine market is the rising application of plasma derived products in treatment of various chronic medical conditions globally. Diseases such as hemophilia and autoimmune disorders requiring lifelong plasma derived therapy are on rise. Further, the market is driven by increasing investments for enhancing plasma collection and supply capabilities. Growing consumer awareness about advantages of plasma derived medicines over alternate options also supports the market growth.
PEST Analysis
Political: The regulations for approval and manufacturing of plasma derived medicines are stringent. Various regulations like those by FDA guidelines the production process.
Economic: The growth of plasma derived medicines is fuelled by the increasing expenditure on healthcare. Rising prevalence of chronic diseases drives the demand for plasma derived therapies.
Social: With growing awareness, plasma derived therapies are becoming first line treatment for various conditions. The donations have increased due to social campaigns regarding importance of plasma in production of life saving medicines.
Technological: New fractionation and purification methods allow production of highly purified plasma derivatives. Adoption of single-use technologies streamline the production process. RFID technologies help effective plasma traceability and inventory management.
Geographical concentration
North America accounts for the largest plasma derived medicines market regional analysis in terms of value due to high healthcare expenditure and availability of advanced healthcare facilities. The US dominates the North American market.
Fastest growing region
Asia Pacific region is poised to be the fastest growing market during the forecast period owing to rising healthcare expenditure, increasing initiatives for plasma collection and growing patient pool of target diseases.