BANGALORE, India, April 5, 2021 /PRNewswire/ -- Plasma Fractionation Market is segmented by Product (Albumin, Immunoglobulins, Coagulation factor VIII, and Coagulation factor IX) and Sector (Public Sector and Private Sector). This report covers Global Opportunity Analysis and Industry Forecast from 2020 to 2027. This report is published on Valuates Reports in the Health Category.
The Global Plasma Fractionation Market was valued at USD 18,222 Million in 2019 and is expected to reach USD 23,006 Million by 2027, registering a CAGR of 6.2% from 2020 to 2027.
The surge in the geriatric population across the globe, which is predisposed to various rare diseases that require the use of plasma derivatives, is the major factor that boosts the plasma fractionation market growth.
TRENDS INFLUENCING THE GROWTH OF PLASMA FRACTIONATION MARKET SIZE
The rise in the global geriatric population, which is predisposed to a variety of rare diseases that necessitate the use of plasma derivatives, is a major factor driving the plasma fractionation market size.
The rise in the use of immunoglobulins in various therapeutic areas is expected to drive the growth of plasma fractionation market size. Immunoglobulins are used as first-line therapy for various neurologic, immunologic, and hematologic conditions.
The plasma fractionation market is also growing due to favorable government funding for spreading awareness about the use of plasma-derived products. Furthermore, the surge in plasma collection centers worldwide is another major factor that contributes to the growth of the market.
Bleeding disorders are becoming more common. Hemophilia is an inherited bleeding condition characterized by impaired blood coagulation due to a lack of coagulation factor VIII development or function. Hemophilia is one of the most common uses for plasma fractionation products. Thus the rising prevalence of bleeding disorders is expected to drive the plasma fractionation market size.
The existence of governmental bodies that control and supervise plasma processing, fractionation, and sales in Asia-Pacific provides lucrative opportunities for key players operating in the plasma fractionation industry. This is a major factor that boosts market development.
Based on the product, Immunoglobulin is the largest segment in the plasma fractionation industry, and it is also projected to rise at the fastest pace over the forecast period. The diversified use of Immunoglobulin in various disorders such as primary and secondary immune deficiencies, autoimmune diseases, and inflammatory diseases is driving this segment's development.
Based on the sector, the private segment gained the most market share in plasma fractionation. This is due to the fact that the plasma fractionation industry employs a large number of private players who extract and fractionate large quantities of plasma into derivatives such as albumin and Immunoglobulin. As a consequence, you can support the growth of plasma fractionation markers.
Based on region, the Asia-Pacific region would exhibit the highest CAGR of 6.6% during 2020-2027. This dominance of the Asia-Pacific region is attributed to the growing geriatric population, rise in government support through Medicaid and healthcare policies, and developments in the healthcare infrastructure.
The key players profiled in this report include Baxter International Inc., Bio product laboratory, Biotest AG, CSL Ltd., Grifols SA, Kedrion S.P.A (Kedrion Biopharma Inc.), LFB S. A., Octapharma AG, Sanquin Blood Supply Foundation, and Takeda Pharmaceutical Company Limited.
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