Plasma Fractionation Market Worth 26.07 Billion USD by 2021
PUNE, India, August 4, 2016 /PRNewswire/ --
According to a new market research report " Plasma Fractionation Market by Product (Albumin, Immunoglobulin, Factor VIII, Protease Inhibitors), Application (Neurology, Hematology, Rheumatology, Immunology) End User (Hospitals, Clinical Research Laboratories) - Global Forecast to 2021", published by MarketsandMarkets, The market witnessed healthy growth during the last decade and is expected to grow at a CAGR of 6.7% between 2016 and 2021 to reach USD 26.07 Billion by 2021.
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Growth in this market can be attributed to factors such as rise in aging population worldwide, the increasing on and off-label use of immunoglobulin for various chronic diseases, increased diagnosis rate, and rise in the use of prophylactic treatment for bleeding and immune diseases.
The global plasma fractionation market is segmented based on products, applications, end users, and regions. Based on products, the market is further segmented into immunoglobulin, coagulation factor concentrates, albumin, protease inhibitors, and other plasma products. Based on application types, the market is further segmented into neurology, immunology, hematology, pulmonology, hemato-oncology, rheumatology, critical care, and other applications. On the basis of end users, the global plasma fractionation market is segmented into hospitals and clinics, clinical research laboratories, and academic institutes. Based on regions, the plasma fractionation market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World.
In 2015, immunoglobulin accounted for the largest share of the global plasma fractionation market. However, the protease inhibitors segment is expected to witness the highest growth in the next five years. The growth of protease inhibitors is mainly attributed to its increasing use for respiratory diseases and growing application in various diseases. On the basis of applications, the neurology segment accounted for the largest share of the global plasma fractionation market. The large share of this market segment is mainly due to factors such as increasing use of immunoglobulin in neurological diseases. In the end-user segment, hospitals and clinics accounted for the largest share of the plasma fractionation market and are expected to grow at the highest CAGR in next five years. This large share is due to the increasing use of plasma products for labeled and off-labeled use for the treatment of various diseases in hospitals and clinics.
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North America is the largest regional segment for plasma fractionation. The large share of this regional segment can be attributed increasing use of immunoglobulins in neurological diseases and increasing use of prophylaxis treatments for diagnosed patients, and the rising number of registered hemophilic patients in this region. However, the market in the Asia-Pacific region is expected to grow at the highest CAGR, owing to the rapid growth in the aging population, increasing use of albumin and immunoglobulin, and increasing number of hemophilic patients.
CSL Ltd. (Australia), Grifols S.A (Spain), Baxalta Incorporated (U.S.), Octapharma AG (Switzerland), and Kedrion S.p.A (Italy) held the major share of the plasma fractionation market and will continue to dominate the market between 2016 and 2021. Other major players operating in this market are Bio Products Laboratory (U.K.), Sanquin (Netherland), China Biologic Products, Inc. (China), Biotest AG (Germany), and Laboratoire Français du Fractionnement et des Biotechnologies (France).
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