PUNE, India, February 1, 2018 /PRNewswire/ --
According to a new market research report "Plasma Fractionation Market by Product (IVIG, Albumin, Factor VIII, von Willebrand Factor, PCC, Protease Inhibitor), Application (Immunology, Hematology, Critical Care, Rheumatology) End User (Hospital, Clinic, Academic Institute) - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to reach USD 29.50 Billion by 2023 from an estimated USD 21.23 Billion in 2018, at a CAGR of 6.8%. The key factors driving the growth of this market include the growing geriatric population across the globe, growing use of immunoglobulins in various therapeutic areas, growing prevalence of respiratory diseases and Alpha-1-antitrypsin deficiency (AATD) driving the uptake of alpha-1-antitrypsin, and increase in plasma collection.
Browse 197 market data Tables and 53 Figures spread through 247 Pages and in-depth TOC on "Plasma Fractionation Market"
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By product, the immunoglobulins segment accounted for the largest share of the market in 2017
On the basis of product, the Plasma Fractionation Market is broadly segmented into immunoglobulins, coagulation factors, albumin, protease inhibitors, and other plasma products. In 2017, the immunoglobulins segment accounted for the largest share of this market. The large share of this segment can be attributed to the higher adoption of immunoglobulins in various neurological and immunological diseases, increasing use of on and off-label immunoglobulin for various indications, and rising adoption of subcutaneous immunoglobulins. However, the protease inhibitors segment is expected to grow at the highest CAGR during the forecast period. The high growth of this segment is primarily attributed to the increased prevalence of alpha-1 antitrypsin deficiency and increasing number of various respiratory diseases.
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By application, neurology accounted for the largest share of this market in 2017
On the basis of applications, the Plasma Fractionation Market is further segmented into neurology, immunology, hematology, critical care, pulmonology, hemato-oncology, rheumatology, and other applications. In 2017, the neurology segment held the largest share of this market. This can primarily be attributed to the increasing use of IVIG in the treatment of various neurological diseases, better response of IVIG in a shorter period than steroids or oral immunosuppressants, and its effectiveness in a number of disorders of peripheral and central nervous systems.
Hospitals and clinics were the largest end users of plasma fractionation products in 2017
Based on end users, this market is segmented into hospitals & clinics, clinical research laboratories, and academic institutes. In 2017, the hospitals & clinics segment held the largest share of this market and is expected to grow at the highest CAGR during the forecast period due to the increasing adoption of plasma products in the treatment of various diseases, large patient pool treated in hospitals and increasing number of hospitals & clinics across the globe.
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North America dominated the market in 2017
North America accounted for the largest share of the Plasma Fractionation Market in 2017, followed by Europe and Asia Pacific. North America's prominence in this market is mainly attributed to the increasing use of immunoglobulins in neurological diseases and increasing use of prophylaxis treatments for diagnosed patients. In addition, the rising number of registered hemophilic patients is also propelling the growth of this market.
The key players in the global Plasma Fractionation Market are CSL (Australia), Grifols (Spain), Shire (Ireland), Octapharma (Switzerland), Kedrion (Italy), Bio Product Laboratory (UK), Sanquin (Netherlands), LFB (France), Biotest (Germany), Japan Blood Products Organization, China Biologic Products (China), Green Cross Corporation (South Korea), and Shanghai RAAS Blood Products (China).
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