Global Plasma Fractionation Market Size & CAGR (2021 to 2026)
The worldwide plasma fractionation market is expected to increase at a CAGR of 7.2 percent during the forecast period. By 2026, this market will be worth USD 33.83 billion, up from USD 23.89 billion in 2021.
Impact of COVID-19 on the global plasma fractionation market:
COVID-19 is a newly identified coronavirus that causes infectious sickness. COVID-19, which was largely unknown before the outbreak in Wuhan, China, in December 2019, has progressed from a regional problem to a global pandemic. Several well-established pharmaceutical and biotechnology companies and small start-ups have expressed interest in creating treatments for the novel coronavirus infection. The COVID-19 pandemic has impacted every business in the world. Following the WHO’s declaration of COVID-19 as a pandemic, governments worldwide implemented state-wide lockdowns to enforce social separation as a preventative precaution. This causes disruption, limitations, obstacles, and changes in every industry area. Similarly, the pandemic influenced the plasma fractionation market. The drop in raw material supply was countered by a decline in sales for plasma derivatives at the start of state-wide lockdowns, as elective surgical procedures were postponed and care for other medical issues was also restricted.
Browse TOC and the other details of the global plasma fractionation market research report that spread through 175 pages @ https://www.marketdataforecast.com/market-reports/plasma-fractionation-market
KEY DRIVING FACTORS:
Y-O-Y growth in the adoption of immunoglobulin is expected to drive the global plasma fractionation market’s growth rate.
The rising use of immunoglobulin for the management, treatment, and diagnosis of metabolic diseases worldwide is one of the most important reasons driving market expansion. As a result, immunoglobulin’s high usage will increase its dominance and improve market prospects. In addition, immunoglobulins are glycoprotein molecules that act as antibodies and are generated from plasma. These variables, taken together, are expected to propel the global plasma fractionation market expansion.
RESTRAINING FACTORS:
Stringent regulatory policies & high costs associated are primarily hampering the growth rate of the global plasma fractionation market.
Regulatory agencies strictly monitor plasma products because they are made from whole blood. Therefore, stringent rules governing the manufacturing facility, the source of whole blood, and the isolation procedure, among other things, may limit the market’s growth. Such strict restrictions may impact the product’s development and production time and the market’s growth in the upcoming years. The high cost of plasma-derived goods, on the other hand, limits market expansion.
Avail free sample brochure of the report to evaluate the usefulness, ask a copy @ https://www.marketdataforecast.com/market-reports/plasma-fractionation-market/request-sample
KEY MARKET INSIGHTS:
- Based on the application, the most significant share of the worldwide plasma fractionation market was held by the neurology segment in 2020. The ability of IVIg to respond in a shorter period than steroids or oral immunosuppressants and its efficacy in several peripheral and central nervous system disorders account for a significant portion of this segment.
- Based on the product, the immunoglobulin segment market held the most significant proportion of the plasma fractionation market in 2020. During the forecast period, this segment is also expected to have the most significant CAGR. The expanding popularity of SCIg and the increasing on- and off-label use of immunoglobulins for diverse purposes are responsible for the substantial share of this segment.
- Based on the end-user, in 2020, hospitals and clinics are expected to hold the most significant proportion of the global plasma fractionation market. The expanding need for immunodeficiency diseases therapies, the growing number of hospitals and healthcare expenditures, and the rising consumption of plasma-derived products by hospitals and clinics are all driving this segment’s rise.
- Based on the region, the North American plasma fractionation market had the largest share and is expected to remain dominant during the forecast period. This region’s supremacy is due to a growing number of research and development projects in the field and well-developed infrastructure. Government policies that favor the industry and recent FDA approvals are expected to boost the market growth in the future. During the COVID-19 pandemic, the US Food and Drug Administration has actively encouraged COVID-19 survivors to participate in plasma donations.
- Several players are operating in the global plasma fractionation market. The key market participants use innovative product offerings and new product development as important growth tactics. LFB S. A., Octapharma AG, Baxter International Inc., Biotest AG, CSL Ltd., Sanquin Blood Supply Foundation, Grifols SA, Kedrion S.P.A (Kedrion Biopharma Inc.), Bioproduct Laboratory, and Takeda Pharmaceutical Company Limited are some of the major competitors in the market.
The report can be customized as per requirements; talk to our analyst team @ https://www.marketdataforecast.com/market-reports/plasma-fractionation-market/customization
RECENT MARKET DEVELOPMENTS:
- In April 2020, Grifols (Spain) entered the plasma fractionation market with a 3-mL (900-IU) vial of HyperRAB (rabies immune globulin.
- Biotest (Germany), BPL (UK), LFB (France), and Octapharma (Switzerland) joined a partnership created by CSL Behring (Australia) and Takeda Pharmaceutical Company Limited (Japan) in April 2020 to explore a potential plasma-derived therapy for COVID-19 treatment.
- GEA announced the construction of Biopharma’s new factory in Ukraine in April 2020. Biopharma will supply Ukraine with high-quality goods and a significant position in the international ranking of high-tech plasma processors thanks to the installation of innovative separator technology for blood plasma fractionation at the facility.
SEGMENTS COVERED IN THIS REPORT:
By Product:
- Albumin
- Immunoglobulin
- Factor VIII
- Protease Inhibitors
By Application:
- Neurology
- Hematology
- Rheumatology
- Pulmonology
- Immunology
By End User:
- Hospitals
- Clinical Laboratories
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
BROWSE REGIONAL REPORTS:
- North America Plasma Fractionation Market
- Europe Plasma Fractionation Market
- APAC Plasma Fractionation Market
- Latin America Plasma Fractionation Market
- MEA Plasma Fractionation Market
About MarketDataForecast:
Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.
Contact Us:
Market Data Forecast
Phone: +1-888-702-9626
Email: contact@marketdataforecast.com