The increasing prevalence of respiratory diseases and alpha-1 antitrypsin deficiency among people worldwide is boosting the global plasma fractionation market, says Fortune Business Insights in a new study. The report, titled “Plasma Fractionation: Global Market Analysis, Insights, and Forecasts 2018 to 2026,” offers insights into growth drivers and restraints impacting the plasma fractionation market.
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List of the companies functioning in the global market are
- Japan Blood Products Organization
- Biotest AG
- Grifols, S.A.
- C. Pharma (Green Cross Corporation)
- Kedrion S.p.A.
- China Biologic Products
- Shanghai RAAS Blood Products
According to the report, the global market for plasma fractionation is estimated to rise at a CAGR of 6.2% and reach a value of US$ 38,652.1 Mn by 2026 from US$ 24,078.5 Mn in 2018. In terms of product, the market is anticipated to be dominated by the immunoglobulin segment as they play a major role in detecting and destroying the bacteria present in the body.
In the year 2018, immunoglobulin segment accounted for about 47.7% share in the global market. On the other side, the protease inhibitors segment is anticipated to exhibit the growth at the fastest rate. This is attributable to the fact that protease inhibitors are used as antiviral agents and help to prevent infection. In addition to that, the use of these inhibitors for HIV is anticipated to drive the over the forecast period.
Rise in Number of Diagnostic Centers for using Plasma Proteins as Therapeutics to Bode Well for Market
The rising awareness about diseases because of the expansion of media and increasing number of diagnostic centers have increased the value of plasma fractionation. This is a major factor boosting the overall market. In addition to that, increasing investments made in designing of therapeutics for chronic diseases is also anticipated to drive the global market. Besides this, the increasing popularity and usage of proteins derived from plasma for various treatments is presumed to bode well for the global market.
However, high cost of fractionation and insufficient reimbursement policies may cause hindrance to the growth of the market. This, accompanied by the emergence of recombinant alternatives may hamper the market in the long run.
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North America Emerges Dominant on Account of Better Healthcare Infrastructures
Geographically, the global market for plasma fractionation is dominated by North America at present. Factors promoting growth in this region are better healthcare infrastructures, government supported reimbursement policies, and presence of large company in developed nations of the region namely Canada and the U.S.
Moreover, recent approvals from the Food and Drug (FDA) favor the growth of new plasma fractionation facilities are thus creating lucrative growth opportunities for the market in North America. For instance, the FDA approved a plasma fractionation facility in Melville for Kedrion S.P.A. in February 2019.
The plasma fractionation market in Asia Pacific is also anticipated to show huge growth potentials on account of developing healthcare infrastructure and research centers, and the increasing investments for drug discoveries.
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