MARKET OVERVIEW- GLOBAL PLASMA FRACTIONATION MARKET
Plasma is a blood component obtained from whole blood by plasmapheresis and used for various therapeutic and medical applications. Human plasma is a source of many different proteins. However, few of these proteins are useful for the production of therapeutic plasma products. The process of separating, extracting, and purifying these proteins from plasma is called the fractionation process. The global plasma fractionation market is growing due to factors such as increase in respiratory diseases across the world; an aging population with blood-related diseases; and the growing use of immunoglobulins. The increase in rare diseases requiring the use of plasma therapy or plasma derivatives is also an important factor in the growth of the market. The increased investment in research and development activities by major players is also expected to provide ample new growth opportunities for the growth of the market in the upcoming years.
MARKET DRIVERS
The global Plasma Fractionation market is driven by a rise in the geriatric population worldwide, who are more susceptible to rare diseases requiring the use of blood products. Additionally, the increased use of immunoglobulins and alpha-1 antitrypsin in various medical fields around the world is expected to drive market growth. Alpha-1 antitrypsin deficiency (AATD) is an unrecognized chronic metabolic genetic disorder. It is responsible for 2-3% of emphysema cases in the United States. Alpha-1 antitrypsin deficiency leads to the early onset of panlobular emphysema in both smokers and non-smokers, and abnormal accumulation of alpha-1 antitrypsin in the liver leads to liver disease. AATD occurs worldwide, but the prevalence varies by geography. According to the NIH, AATD affects approximately 1 in 1,500-3,500 people in European countries.
Another key driver driving the expansion of this market is the emergence of blood collection facilities around the world. Increased government funding and corporate involvement in plasma processing research and development are also expected to drive market growth. More investment by major players in manufacturing advanced and effective treatments is likely to support market growth over the projected time period.
MARKET OPPORTUNITIES
Growing research and development activities and programs that encourage blood donation and investment by major players are expected to create profitable revenue opportunities for key players in the global plasma fractionation market. Additionally, the market is also being driven by supportive government initiatives to raise awareness of the use of plasma products. Besides, emerging features and new technologies have gained the major attention of the end-user segment, and this factor is expected to provide rising new growth opportunities for the market over the forecast period.
MARKET RESTRAINTS
The market has major restraining factors like the high cost of plasma-derived products and the cost of plasma therapy. These factors are expected to act as a hurdler for the market’s growth over the forecast period. Besides, lack of awareness regarding plasma therapy among certain professionals in the healthcare sector is another key factor which is expected to restrain the growth of the market over the estimated time period.
MARKET GROWTH CHALLENGES
The COVID-19 pandemic has impacted the growth of the market to a major extent, which has created a major challenge for the market’s growth. Also, a lack of a skilled work force in the healthcare sector among the underdeveloped nations is expected to be a major challenge for the market’s growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the global Plasma Fractionation market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. The increasing demand for Plasma Fractionation in various healthcare applications has led to the increasing demand for the market and is expected to witness growth at a specific CAGR from 2021-2028.
SEGMENTAL OVERVIEW OF THE PLASMA FRACTIONATION MARKET
The global Plasma Fractionation market comprises of different market segments like product, technology, application, end-users, and geography.
PLASMA FRACTIONATION MARKET BY PRODUCT
By product, the Plasma Fractionation market includes the key segments of
- Immunoglobulins
- Coagulation Factor Concentrates
- Albumin
- Protease Inhibitors
- Others
The immunoglobulin segment is further segmented into intravenous immunoglobulins, subcutaneous immunoglobulins, and others. The coagulation factor concentrates, segment is further segmented into factor VIII, factor IX, Von Willebrand factor, prothrombin complex concentrates, fibrinogen concentrates and others. The immunoglobulin segment is expected to register a significantly high growth rate over the forecast period. Immunoglobulins are increasingly used worldwide for the administration, cure, and identification of metabolic disorders, which is one of the major aspects affecting the expansion of the industry.
Additionally, the coagulation factor concentrate segment is expected to grow at a high rate due to factors such as new drug approvals, high incidence of bleeding disorders, serious clotting issues such as haemophilia and increasing initiatives and donations for people with bleeding disorders.
MARKET FOR PLASMA FRACTIONATION BY TECHNOLOGY
By technology, the Plasma Fractionation market is segmented into
- Chromatography
- Centrifugation
- Depth Filtration
- Cryopreservation
- Ultrafiltration
- Others
The centrifugation segment is expected to grow at the fastest growth rate throughout the forecast period. Centrifugation is an essential step to obtain high quality blood supernatant. Additionally, it helps researchers systematically separate blood and improve clinical outcomes for patients. Thus, an increasing demand for centrifugation instruments would complement the growth of the market.
The chromatography segment is expected to grow at a high rate over the forecast period. The use of industrial-scale chromatographic fractionation and purification techniques for plasma fractionation has recently increased. A new generation of therapeutic plasma products, including coagulation factors, protease inhibitors, and anticoagulants, has been developed. As a result, chromatography has allowed the development of new therapeutic agents to treat patients with acquired or congenital disorders of plasma protein levels. Thus, it is expected to drive the growth of the segment.
PLASMA FRACTIONATION MARKET BY APPLICATION
The Plasma Fractionation market has key applications like
- Neurology
- Haematology
- Oncology
- Immunology
- Pulmonology
- Rheumatology
- Critical care
- Others
The neurology segment is expected to dominate the market. The global increase in the prevalence of neurological disorders is a key factor in the expansion of the market. For example, the Centers for Disease Control and Prevention estimate that more than 795,000 Americans have a stroke every year. Furthermore, the growing elderly population increases the risk of neurovascular diseases such as stroke becoming more common. Furthermore, after age 55, the risk of stroke doubles, thus encouraging the use of plasma-based therapeutic products and supporting market expansion.
On the other hand, the oncology segment is expected to experience high growth during the projection period. The range of plasma therapies for cancer is growing rapidly to address challenging goals that were previously incurable, including those with the potential for metastasis and drug resistance. In addition, a thorough investigation of the multifaceted impact of cold atmospheric plasma on cancer treatment is needed to achieve widespread clinical implementation of the drug, contributing to segment growth.
PLASMA FRACTIONATION MARKET BY END USERS
The Plasma Fractionation market has major end users like
- Hospitals and Clinics
- Clinical Research Laboratories
- Academic Institutes
- Others
The hospitals and clinics segment is expected to grow at the fastest growth rate throughout the forecast period. Significant growth is expected for the segment due to increasing off-label use of plasma fractionation products in hospitals to treat various diseases, and improvement in infrastructure and healthcare services offered by hospitals. Additionally, complex diseases that can be treated in modern clinical settings have a strong need for plasma fractionation products.
The clinical research laboratories followed by academic institutes are expected to grow at a high rate due to an increase in research and development activities and an overall rise in R&D spending across the world.
PLASMA FRACTIONATION MARKET BY GEOGRAPHY
The global Plasma Fractionation market is studied for the following regions:
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
North America is expected to lead the market over the forecast period due to increased awareness and multiple benefits of plasma among North American citizens, along with an increase in the incidence of respiratory diseases. In addition, the presence of large players, an increase in the number of plasma collection facilities, an increase in the consumption of immunoglobulins, and the ability to supply plasma through the feasibility of collection and distribution of plasma support the expansion of the regional market.
Plasma Fractionation Market in Asia-Pacific is expected to expand significantly over the estimated time period due to increasing public and private funding for research and development, favourable government regulations, increased use of immunoglobulins, and the growing prevalence of target diseases among an aging population with blood-related diseases and increasing acceptance of plasma-based treatments.
COVID-19 IMPACT ANALYSIS ON GLOBAL PLASMA FRACTIONATION MARKET
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the global Plasma Fractionation market. In addition, a complete analysis of changes in the global Plasma Fractionation market expenditure, economic and international policies on the supply and demand side. The report also studies the impact of the pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
The COVID-19 pandemic has had a negative impact on the number of blood donations made worldwide in 2020 and 2021. Plasma centers and blood centers have experienced a sharp drop in the number of blood donors due to the lockdowns imposed around the world. Despite effective containment of the virus, lockdowns and other strict social distancing measures have had a profound impact on health systems around the world, including blood donation and care, and the clinical management of transfusions.
Strict laboratory biosafety guidelines for SARS-CoV-2 have been formulated by the World Health Organization and clinical and diagnostic centers in the United States, China, and many other countries. Laboratory personnel encountering specimens from suspected and confirmed cases of SARS-CoV-2 were recommended, and instructions were given that biosafety safeguards should also be implemented to minimize the risk of spreading the virus. The post-centrifugation waiting time has been increased to reduce the risk of aerosol transmission, and additional steps have been added to laboratory protocols, such as: These rigorous laboratory practices and heightened precautions have negatively impacted the supply of plasma fractionation products, resulting in shortages of plasma products during the pandemic.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Plasma Fractionation market is majorly focused on expanding the global growth of Plasma Fractionation with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in the Plasma Fractionation industry has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the consumer which is further contributing to healthy growth in the market.
The key players studied in market are
- Grifols S.A.
- Octapharma AG
- Takeda Pharmaceutical Company Limited
- Bio Products Laboratory Ltd.
- LFB S.A.
- Japan Blood Products Organization
- GC Pharma
- Intas Pharmaceuticals Ltd.
- China Biologic Products Holdings Inc.
- Bharat Serum Vaccines Limited
- SK Plasma
- CSL
- Centurion Pharma
- KabaFusion
- PlasmaGen BioSciences Pvt. Ltd.
- Sichuan Yuanda Shuyang Pharmaceutical Co., Ltd.
RECENT DEVELOPMENT:
August 2021: CSL Behring announced that the U.S. Food and Drug Administration (FDA) has granted marketing approval for Berinert C1-Esterase Inhibitor, Human for the treatment of acute abdominal or facial attacks of hereditary angioedema (HAE), a rare and serious genetic disorder, in adult and adolescent patients.
March 2020: The Food and Drug Administration (FDA) and the Biomedical Advanced Research Development Authority (BARDA) had collaborated with Grifols, a biopharma business focused on producing medicines made from plasma, to develop treatments for COVID-19.
