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(Health-NewsWire.Net, August 13, 2022 ) According to a new market research report, “Plasma Fractionation Market by Product [Immunoglobulins (Intravenous, Subcutaneous), Coagulation Factors, Albumin], Application (Immunology, Hematology, Neurology), and End User (Hospital, Clinical Research Lab, Academic Institutes) – Global Forecast to 2029”, published by Meticulous Research®, the plasma fractionation market is expected to grow at a CAGR of 7.1% from 2022 to reach $46.9 billion by 2029.
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The separation, extraction, and purification of specific components from the plasma are called the fractionation process. The products extracted from the plasma are used for treating various disorders. Immunoglobulins are useful in treating autoimmune diseases and increasing the immune response. Clotting factors are used to treat blood disorders such as hemophilia and albumins, which are useful in cases of depleted albumin levels or during fluid loss. As the prevalence of hemophilia and autoimmune disease increases, the demand for plasma-derived products will rise in the coming years.
Impact of COVID-19 on the Plasma Fractionation Market
Limited data suggest that convalescent plasma and hyperimmune globulin may have benefits in the COVID-19 illness. Therefore, evaluating these therapies in the context of a clinical trial and expanded access program is important. Hence, well-controlled clinical trials are conducted to evaluate the safety and efficacy of plasma treatment. Some of these include;
In China, in February 2020, an interventional clinical trial was started to evaluate the efficacy of intravenous immunoglobulin therapy in patients with severe 2019- nCoV pneumonia with 80 participants.
In France, in April 2020, an interventional clinical trial was started regarding early treatment with polyvalent immunoglobulin in managing acute respiratory distress syndrome associated with SARS-CoV-2 infections. Over 138 participants were enrolled in the study.
In the U.S., in April 2020, a clinical trial ‘The COVID-IG trial: intramuscular (IM) injection of COVID-19-convalescent hyperimmune immunoglobulin (COVID-IG) to prevent SARS-CoV-2 infection in high-risk persons’ was carried out.
Thus, the clinical trials, being an initial part of the evolution of treatment during COVID-19, positively impact the plasma fractionation market.
The plasma fractionation market is segmented based on product, application, and end user. The study also evaluates industry competitors and analyzes the regional and country markets.
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Based on product, the immunoglobulins segment is estimated to account for the largest share of the plasma fractionation market in 2022. The segment is also expected to grow at the highest CAGR during the forecast. The large share is mainly attributed to the adoption of plasma-derived immunoglobulins to treat various immunological disorders such as autoimmunity diseases, primary and secondary immunodeficiency, and neurological disorders. Further, the COVID-19 disease resulted in the growth of studies regarding the use of hyper immunoglobulins derived from COVID-19 recovered patients’ plasma to treat the disease.
Based on application, the neurology segment is expected to grow at the highest CAGR during the forecast period due to the rise in the prevalence of neurological disorders and plasma-derived products for treating these disorders.
Based on end user, the hospitals & clinics segment is estimated to command the largest share of the market in 2022. The growing need for therapies for immunodeficiency disorders, the growing number of hospitals & healthcare expenditure, and the largest consumption of plasma-derived products by hospitals & clinics are some of the major factors driving the growth of this segment.
Geographically, North America is estimated to dominate the overall plasma fractionation market in 2022, followed by Europe and Asia-Pacific. The growing number of respiratory diseases will increase the adoption of coagulation factors, which drives the market for plasma fractionation in North America. Also, a surge in consumption of immunoglobulins, an increase in plasma collection centers, the capability to supply plasma due to the feasibility of plasma collection & distribution, and the presence of key players contribute to the regional market's growth.
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However, Asia-Pacific is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia-Pacific market are the rising consumption of plasma-derived products, the strategic developments made by the companies in this region, the presence of leading players, and contract fractionation agreements between the countries.
The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments in the industry's leading market participants over the past four years (2019–2022). In recent years, the plasma fractionation market has witnessed several product approvals, new product launches, partnerships, agreements, & collaborations, expansions, and acquisitions. For instance, in February 2022, Grifols, S.A. (Spain) entered into an agreement with Endpoint Health, Inc. (U.S.) to develop and commercialize an Antithrombin III (AT-III) therapy to treat Sepsis. Also, in August 2021, Octopharma AG (Switzerland) received U.S. FDA approval for Octagam 10% [Immune Globulin Intravenous (Human)] for the treatment of adult dermatomyositis (DM).
Some of the key players operating in this market are CSL Limited (Australia), Grifols, S.A. (Spain), Octopharma AG (Switzerland), Kedrion S.P.A. (Italy), Shire plc (U.K.), Biotest AG (Germany), China Biologic Products Holdings, Inc. (China), Bio Products Laboratory Ltd (U.K.), Japan Blood Products Organization (Japan), and Intas Pharmaceuticals Ltd. (India).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/plasma-fractionation-market-5117
Meticulous Research™
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