Plasma Fractionation Market is Predicted to Observe a Tremendous Growth, With a CAGR of 8.3% From 2022 To 2030: Grand View Research Inc.

 

San Francisco, 01 December 2023: The Report Plasma Fractionation Market Size, Share & Trends Analysis Report By Product (Albumin, Immunoglobulins), By Method (Centrifugation, Depth Filtration), By Application, By End-use, By Region, And Segment Forecasts, 2022 - 2030

The global plasma fractionation market is expected to reach USD 58.24 billion by 2030, expanding at a CAGR of 8.3%, according to a new report by Grand View Research, Inc. The major factors driving the market growth are the rising prevalence of respiratory illnesses globally, blood-related diseases, and an aging population that is prone to a variety of rare disorders. These are the main drivers of market expansion. In addition, the rise in the prevalence of rare disorders that call for plasma therapy or derivatives also supplemented the market growth.

The global market is also expanding due to the increased use of immunoglobulins as well as alpha-1-antitrypsin in various areas of research around the world. Another important factor for the expansion of the market is the rise in blood collection facilities globally. For instance, as per the WHO, as of May 2022, over 118 million blood donations were collected across the globe, thus increasing the plasma supply gradually. Additionally, supportive government initiatives to raise public awareness about the usage of plasma-derived products also serve as a major driver of the global market's expansion.

Blood plasma transfusions are one of the cutting-edge treatments for COVID-19 infection. For instance, in August 2020, the US Food and Drug Administration (USFDA) granted the convalescent plasma treatment of COVID-19 an emergency use authorization (EUA). Additionally, in February 2021, it published an amended directive for the plasma EUA for COVID-19. As a result, the usage of plasma fractionation technologies is projected to increase during the COVID-19 pandemic.

The growing demand for personalized medications has increased R&D spending, and technological advancements in plasma components such as immune serum globulin, which have advantages such as higher yield, lower cost, and faster throughput, are driving market growth. On the other hand, immunoglobulins generated from plasma are being employed more frequently for a variety of clinical conditions, including autoimmune and inflammatory illnesses. Therapies including Ceruloplasmin, IgA, and Plasmin have received significant funding from the plasma fractionation sector. Additionally, the industry will receive a boost from booming investments in innovation and technology developments that result in efficient and affordable methods for fractionating proteins. thus, propelling the market's growth.

For companies operating market-related businesses, the market offers a lot of opportunities. In addition, the global and regional market participants are actively implementing organic and inorganic development strategies as a result of the market's favorable expansion. As a result, it is anticipated that the market will draw more notable investments during the forecast period. For instance, in January 2022, the eighth plasma collection facility in the Czech Republic was opened by Biotest AG. The national public health authority, SUKL, granted the company an operating license for these centers.

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The increased government funding and corporate involvement in research and development activities for plasma treatments are also anticipated to boost market growth. In addition, the COVID-19 pandemic has provided numerous chances for biotechnology and biopharma firms to participate in R&D projects involving plasma treatments. A lot of businesses have started working together to research how well fractionation therapy works for COVID-19 patients. For instance, in March 2020, the Food and Drug Administration (FDA) and the Biomedical Advanced Research Development Authority (BARDA) joined forces with Grifols, a biopharma business focused on producing medicines made from plasma, to develop treatments for COVID-19.

Plasma Fractionation Market Report Highlights

• By product, the immunoglobulins segment held the largest share in 2021. This is anticipated to be driven by rising research activities and the growing demand for immunoglobulin for the treatment of various neurological diseases such as dementia, Alzheimer's, and others
• By application, the neurology segment accounted for the largest share in 2021. This is attributed to the growing demand for efficient neurovascular treatments fueled by the rising prevalence of patients with neurovascular diseases such as cerebral aneurysms, brain stroke, and epilepsy
• By the method, the centrifugation segment held a larger share in 2021. The treatment and diagnostic procedures of numerous chronic and infectious diseases become more complex. For these purposes, the use of modern laboratory centrifuges is becoming a crucial method
• By end-use, the hospitals & clinics segment held a larger share in 2021. The hospitals & clinics are using plasma-derived products more frequently to treat autoimmune disorders like type 1 diabetes, as well as the improved infrastructure and healthcare facilities, augment the market growth
• North America held the larger share in 2021. This is due to the region's advanced healthcare facilities and favorable governmental policies, which are expected to increase demand for the product
• The Asia Pacific is expected to grow at the highest rate in a projected time. Driven by factors such as the rising prevalence of target diseases with an aging population, rising plasma-based therapeutics adoption, and others

Despite the destructive effects of the new coronavirus pandemic on some businesses, the global industry has been observed to have grown significantly over the past several years. More people were adversely impacted by the viral infection with serious problems as the COVID-19 pandemic neared its worst stage, which prompted plasma as a treatment. However, the cost of this therapy is anticipated to rise as a result of increased government support and corporate involvement in research and development, impeding the market growth. Moreover, plasma therapy gave patients reason for optimism because COVID-19 patients were effectively treated using fractionation therapy. For instance, in July 2020, the Hindu reported that patients with COVID-19 in Chennai's Rajiv Gandhi Government General Hospital had made a full recovery through plasma therapy.

Growing R&D activities, awareness programs encouraging blood donation, and investments from major players are projected to create profitable revenue opportunities for industry participants in the global market. Moreover, the market is also being driven ahead by supportive government initiatives to increase awareness of the use of plasma-derived products. For instance, in March 2021, the WHO Model List of essential medicines includes several plasma-derived medicinal products (PDMPs), identifying them as drugs thought to be the most efficient and secure for addressing the most essential requirements in a health system and providing guidelines on increased supply of PDMPs in low & middle-income countries.

Plasma Fractionation Market Report Scope 

Report Attribute	Details
Market size value in 2022	USD 30.71 billion
Revenue forecast in 2030	USD 58.24 billion
Growth rate	CAGR of 8.3% from 2022 to 2030
Base year for estimation	2021
Historical data	2018 - 2020
Forecast period	2022 - 2030

Increased investments by major players in the production of advanced & effective treatments are likely to support market growth throughout the projected timeframe. For instance, in April 2020, To create a viable plasma-derived medication for treating COVID-19, CSL Behring & Takeda Pharmaceutical Company Ltd. partnered with Biotest, BPL, LFB, and Octapharma. The collaboration will get started right away with the research and development of a single, unbranded anti-SARS-CoV-2 polyclonal hyperimmune immunoglobulin drug that has the potential to help people with major COVID-19 problems. Such initiatives by companies are likely to supplement the market growth in the coming years.

List of Key Players of Plasma Fractionation Market

• Grifols S.A.
• CSL Limited
• Takeda Pharmaceutical Company Limited
• Octapharma AG
• Kedrion S.p.A
• LFB S.A.
• Biotest AG
• Sanquin
• Bio Products Laboratory Ltd.
• Intas Pharmaceuticals Ltd.