by The 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 extracted from donated human blood plasma which is further processed into final pharmaceutical products. These derivatives include immunoglobulins, coagulation factors, albumin and other proteins. Immunoglobulins are majorly used to treat primary immunodeficiency disease and other immune disorders. Albumin is used in surgery and for treatment of burns. Coagulation factors are prescribed for the treatment of haemophilia. The rising prevalence of immune deficiencies and bleeding disorders drives the demand of plasma derivatives in the market.
Market Dynamics:
The increasing adoption of plasma derivatives to treat chronic diseases like immunodeficiency disorder, haemophilia and other neurological disorders is one of the major drivers of this market. According to World Federation of Hemophilia, around 1 in 10,000 male births have haemophilia. Moreover, growing ageing population making them more prone to chronic diseases have augmented the growth of blood plasma derivatives market. Furthermore, increasing healthcare expenditure and better reimbursement policies in developed nations are projected to drive the market growth during forecast period. However, stringent regulatory guidelines for plasma collection, threat of transmission of infectious diseases and availability of alternative therapies may impede the market growth over the stipulated time period.
Segment Analysis
The global blood plasma derivatives market can be segmented based on product type, application, end-user, and region. Based on product type, the market is divided into albumin, factor viii, factor ix, immunoglobulins, hyperimmune globulins, and other plasma derivatives. The albumin segment currently dominates the market owing to wide applications in surgery, serious burn injuries, shock and others. Based on application, the market is classified into immunology, hematology, critical care, pulmonology, and other applications. The immunology segment accounts for the largest share of the market due to high demand for immunoglobulins and hyperimmune globulins. Based on end-user, the market is segmented into hospitals, clinics, research laboratories, and academic institutes. The hospitals end-user segment generates maximum revenue in the market.
Pest Analysis
Political: Regulations related to plasma collection and processing varies among countries which influences the growth of the market. However, partnerships between developed and developing markets are being promoted to ensure adequate supply.
Economic: The demand for plasma derivatives is increasing owing to rising disposable income and improving healthcare facilities globally. Emerging economies are expected to provide new growth opportunities to key players.
Social: With growing awareness, plasma therapy is becoming a preferred treatment option for immunodeficiency disorders and bleeding disorders. Government support for rare disease patients also aids the market growth.
Technological: Advanced plasma fractionation technologies have improved product yields while maintaining high purity and safety. Technologies for rapid pathogen inactivation further boost the process efficiency.
Key Takeaways
The Global Blood Plasma Derivatives Market Size was valued at USD 44.33 billion in 2023 and is expected to expand at a CAGR of 9.3% from 2023 to 2030. The market is growing due to the increasing prevalence of hemophilia and Primary Immune Deficiency (PID) across the world.
Regionally, North America accounted for the largest share of the global market in 2023 due to high disease awareness, well-established healthcare infrastructure and growing penetration of plasma derivative therapies. However, Asia Pacific is expected to witness the fastest growth over the forecast period owing to rising healthcare expenditure, increasing patient population and improving access to diagnosis and treatment in countries like China and India.
Key players operating in the blood plasma derivatives market are 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 market is consolidated in nature with top players holding majority share. Focus on expanding product portfolio through acquisitions and partnerships is a key strategy adopted by major companies.
