The Insight Partners published latest research study on “Plasma Fractionation Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, End User, and Geography,” the market is projected to reach US$ 40,731.98 million by 2028 from US$ 26,575.83 million in 2021; it is expected to register a CAGR of 6.3% from 2021 to 2028. The market growth is mainly attributed to the rising application of plasma therapy and active participation of the market players in developments for enhancing plasma fractionation process.
The increasing application of plasma therapy and active participation of companies in market developments are driving the growth of the plasma fractionation market. However, the availability of recombinant or non-plasma counterparts restrains the market growth. Further, development potential in emerging countries offer lucrative opportunities for the growth of the global plasma fractionation market.
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North America is expected to hold the largest share of the plasma fractionation market during the forecast period. The US is expected to be the largest and fastest-growing market in this region. It is one of the highly advanced countries having access to a robust, technologically advanced medical infrastructure, which is contributing to the growth of the plasma fractionation market in the US.
Browse key market insights spread across 202 pages with 111 list of tables & 81 list of figures from the report, “Plasma Fractionation Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product (Immunoglobulin, Albumin, Coagulation Factor Concentrates, Protease Inhibitors, Other Plasma Products); Application (Neurology, Immunology, Hematology, Critical Care, Pulmonology, Other Applications); End User (Hospitals and Clinics, Clinical Research Laboratories, Academic Institutes), and Geography” in detail along with the table of contents: https://www.theinsightpartners.com/reports/plasma-fractionation-market
Plasma Fractionation Market: Competitive Landscape and Key Developments
Bio Products Laboratory LTD, CSL Limited, Biotest AG, Sanquin, Bharat Serums and Vaccines Limited, Grifols S.A, Kedrion, SK Plasma, Plasmagen Biosciences PVT. LTD, and Octapharma AG. are among the key companies operating in the plasma fractionation market. Leading players are focusing on the launch of products, expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
In May 2021, Liminal BioSciences entered into an agreement with Kedrion to divest its Plasma Collection and Plasma-Derived Therapeutics Business.
Blood plasma transfusion is among the emerging method implemented for treating various chronic diseases. The plasma consists of essential components, including proteins, albumin, globulins, fibrinogen, clotting factors, and inhibitors. It is widely used to treat blood cancer, COVID-19, atrial fibrillation, leukemia, and other diseases. The plasma is separated from the donated blood by using a plasma fractionation instrument. In August 2020, the US Food and Drug Administration (USFDA) issued the emergency use authorization (EUA) for convalescent plasma treatment of COVID-19. In addition to this, in February 2021, it issued an updated guideline for the plasma EUA for COVID-19. Thus active involvement and approval by the regulatory bodies and governments are expected to encourage the application of blood plasma. Blood plasma can be stored for up to a year by freezing it within 24 hours of blood donation, and the frozen plasma can be used post thawing process; freezing protects the integrity of valuable clotting factors. Almost every country has many blood bank facilities, and they are accessible by healthcare service providers; they can be funded various governments and other private organizations. In 2021, the American Association of Blood Banks (AABB) granted funding for research projects such as “Engineering Immunotherapy Resistant Hematopoiesis to Treat High-Risk Acute Myeloid Leukemia” and “New Approaches to Study and Treat Alloantibody-Mediated Diseases Resulting from Blood Transfusions.” Thus, the increasing application of plasma therapy in the treatment of various medical conditions is boosting the blood plasma fractionation market growth.
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Growing Developments in Plasma Fractionation Technology Boost Market Growth
As stated in the previous driver, the market offers considerable potential for the companies operating the market-related businesses. Due to the positive market growth, the global and regional market players are actively adopting organic and inorganic development strategies. Thus it is expected to attract more significant investments in the market in the forecast period. For instance, below are some of the developments and initiatives adopted by the market players.
- In March 2021, Grifols, S.A., among the global leader in plasma-related markets, acquired about 25 US-based plasma centers from Bio Products Laboratory Holdings Limited. It is expected to add about one million liters of plasma for the fractionation processes.
- In August 2021, Biotest AG started about the sixth plasma collection center in the Czech Republic. The company received the operating license for these centers from the national public health authority SUKL. The center is state-of-the-art with about 15 donor beds and has facilities for the donors such as Television(TV), Wi-Fi, and others. The center is operational six days a week for twelve hours a day.
- In February 2020, Advent International Corporation a US-based global private equity firm, acquired a majority stake in Bharat Serums and Vaccines. This investment is expected to strengthen and expand Bharat Serums’ offerings in domestic and global markets.
Plasma Fractionation Market: Segmental Overview
Based on end user, the plasma fractionation market is segmented into hospitals and clinics, clinical research laboratories, and academic institutes. The hospitals and clinics segment is expected to be the largest shareholder in the market in 2021, and it is expected to register the highest CAGR during 2021–2028.
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