Blood Plasma Derivatives Market Overview
Market Research Future (MRFR) perceives the growth of the global blood plasma derivatives market to be healthy at a CAGR of 10.50% over the forecast period of 2022-2030 and is anticipated to catapult to approximately USD 40,475.8 Million by the end of 2030.
Blood Plasma Derivatives Market: Latest Technological Developments
· In April 2023: The collaboration between CSL Behring and Takeda to create a potential plasma-derived therapeutic for COVID-19 treatment was announced. A novel technique termed "ultra-high-speed solvent detergent fractionation," which aims to create plasma derivatives that are more efficient and secure than conventional approaches, is being used to develop the therapy.
· In March 2023: A team of researchers from the University of California, San Francisco claimed that they have created a new, more effective and sustainable process for creating blood plasma derivatives. The procedure, known as "continuous flow plasma fractionation," is more effective than conventional techniques that involve batch processing because it separates plasma into its constituent elements using a continuous flow system.
· In February 2023: A company called Frontline Biotechnologies announced that the FDA has approved its first item, a blood plasma derivative known as "FrontlineODP," for commercialization. A dried plasma derivative called FrontlineODP is given to people with bleeding disorders.
Blood Plasma Derivatives Market: Recent News on Industry Investments
· In April 2023: A $1 billion investment round from investors including The Carlyle Group and CVC Capital Partners was disclosed by Grifols. The company intends to utilise the money to create new products and grow its network of plasma collection sites.
· In March 2023: According to an announcement by Octapharma AG, it has raised $500 million from investors that include KKR & Co. and The Carlyle Group. The money will be used by the business to increase production and create new goods.
· In February 2023: Kedrion S.p.A. declared that it had secured $250 million in capital from backers that included CVC Capital Partners and Bain Capital. The company intends to utilise the money to create new products and grow its network of plasma collection sites.
Blood plasma derivatives are concentrates of specific plasma proteins derived from a pool of plasma donors through a process known as fractionation. They are used in the treatment of various life-threatening diseases.
The prevalence of life-threatening blood-related diseases is on the upswing which is a significant factor in shaping the growth of the global blood plasma derivatives market. A surge in medical conditions such as hemophilia, cancer, HIV, and others exert massive burden on the healthcare sector across the globe and induces high demand for blood plasma derivatives for the treatment of the same.
Blood plasma derivatives find application in a plethora of clinical use cases. Blood plasma derivatives are a vital source of various medicinal products.
The rise in global geriatric population also fuels the growth of the blood plasma derivatives market. The elderly population is generally at more risk of acquiring life-threatening diseases which consequently necessitates treatment and further intensifies the growth of the market.
Other driving factors include raising awareness regarding blood and plasma donation and advancement in the preservation techniques of blood plasma. Also, an outlay of substantial amounts on research & development activities and expanding range of clinical applications of blood plasma derivatives are expected to be a tailwind for the growth of the global blood plasma derivatives market.
On a different note, the high costs associated with plasma derivative-based therapies along with the risk of adverse side effects of plasma replacement therapy is a restraining factor to the growth of the global blood plasma derivatives market.
The global blood plasma derivatives market has been segmented based on type, application, and end user. By type, the market has been segmented into anti-thrombin, fresh frozen plasma (FFP), intravenous immunoglobulin (IVIG), Albumin, and others. Other types include Factor VII, Factor IX, and Alpha 1 proteinase inhibitor concentrate.
By application, the market has been segmented into Hemophilia A, Hemophilia B, HIV, Hepatitis B, Hepatitis C, Thrombocytosis, and others. Other application includes Von Willebrand disease.
By end user, the market has been segmented into blood transfusion centers,
hospitals, diagnostic centers, clinics, and others.
North America, Europe, Asia-Pacific, and the Middle East and Africa are the key markets for blood plasma derivatives. North America is dominating the market for blood plasma derivatives and is expected to expand at a CAGR of 4.25% over the forecast period. The North America blood plasma derivatives market was valued at USD 20 Bn in 2016 and is envisioned to reach USD 35.50 Bn by the end of the forecast period. High awareness regarding the use of blood plasma derivatives coupled affordability of blood plasma derivative-based therapies boosts the growth of the North America market. In addition, the high prevalence of infectious diseases requiring blood plasma derivatives for treatment propels the growth of the market.
Europe follows North America closely and is the second largest market for blood plasma derivatives driven by extensive R&D activities and rise in a number of research institutions. The Europe blood plasma derivatives market is expected to grow at a CAGR 3.8% over the forecast period.
Asia Pacific is slated to emerge as the fastest growing market for blood plasma derivatives. Growing prevalence of life-threatening diseases couple with high awareness supports the growth of the market.
Fusion Healthcare (India), Octapharma AG (Switzerland), Baxter International Inc. (US), Bain Capital, LLC (US), Grigols (Spain), Kedrion S.p.A (Italy), SK Plasma Co., Ltd. (South Korea), Biotest AG (Germany), and CSL Limited (Australia) are some of the prominent companies who are leading as the global blood plasma derivatives market players.
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