Number of pages: 100 | Report Format: PDF | Published date: January 28, 2022
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global plasma derived therapy market was valued at US$ 22.3 billion in 2022 and is expected to register a revenue CAGR of 7.2% to reach US$ 41.88 billion in 2031.
Plasma Derived Therapy Market Fundamentals
Plasma derived therapy is a medical treatment that employs plasma, the liquid component of blood, to produce therapeutic advantages. Plasma contains a high concentration of proteins and other compounds that can treat various medical ailments. Patients with bleeding disorders, immunological deficiencies, and certain neurological illnesses are often treated using plasma derived treatment. The use of convalescent plasma, or plasma from COVID-19 patients who have recovered, to treat those with severe COVID-19 is one of the most significant recent breakthroughs in plasma-derived therapy. Numerous clinical trials have demonstrated that this treatment may be useful in easing some patients' symptoms and enhancing their prognoses. In addition, gene therapy is being delivered using medicines generated from plasma. Researchers are investigating how to deliver therapeutic genes to particular bodily areas using proteins produced from plasma. This strategy has demonstrated encouraging outcomes in preclinical research and may enhance the effectiveness and safety of gene therapy.
Plasma Derived Therapy Market Dynamics
The increasing prevalence of chronic diseases is one of the primary factors driving the plasma derived therapy market growth. Chronic diseases such as immune deficiencies, bleeding disorders, and neurological disorders require long-term treatment, and plasma derived therapies have proven to be highly effective in managing these conditions. As the global population ages, the incidence of chronic diseases is expected to rise, leading to an upsurge in plasma derived therapy market demand as effective treatment options. In addition, advances in plasma fractionation and purification technologies have enabled the development of safer, more targeted, and more efficient plasma derived therapies, making them increasingly attractive treatment options for chronic diseases. As a result, the increasing requirement of plasma derived therapy to fulfill the unmet therapeutic need is considered to be a major plasma derived therapy market opportunity in terms of revenue generation.
The plasma derived therapy market has been steadily growing in recent years due to increased research and development efforts to provide new and more efficient treatments. The invention of more precise and effective medicines has also been made possible by plasma fractionation and purification technology advancements. Additionally, the use of plasma derived therapies for treating COVID-19, particularly for patients who are critically ill, is gaining popularity. The COVID-19 pandemic has sped up the development of novel plasma derived therapies, resulting in an increase in clinical trials and partnerships between pharmaceutical firms, academic institutions, and regulatory bodies. The continuing research & development initiatives aimed at broadening the plasma derived therapy scope for these medicines and enhancing their safety and efficacy is expected to boost the market.
Government initiatives and the involvement of pharmaceutical industries have played a significant role in fueling the plasma derived therapy market growth. Governments have been providing funding for research and development, which has enabled the development of more innovative plasma derived therapies. Additionally, regulatory bodies have been granting approvals for these therapies, which has increased their availability to patients. For Instance, on January 10, 2022, the FDA published additional guidance to advise medical professionals and researchers on using COVID-19 convalescent plasma under the emergency use authorization (EUA) or investigational convalescent plasma under an IND during a public health emergency. Therefore, the government and industrial initiatives to promote these advanced therapies are contributing to accounting for a significant revenue hike for shaping the global plasma derived therapy market size.
However, despite rigorous testing and screening procedures, there is always a chance of contamination, which could have detrimental effects on patients' health. Another plasma derived therapy market challenge is the rising expense of plasma derived medicines, which can prevent many patients from accessing them. Plasma derived therapy can cost more since the process of making them is labor-intensive, expensive and requires many phases, from collection to purification.
Plasma Derived Therapy Market Ecosystem
This report provides the global plasma derived therapy market analysis in terms of revenue, market growth, market dynamics, regional landscape, and overall competitive positioning of the major market players.
The global plasma derived therapy market overview is analyzed from the following perspectives: product, application, end user, and region.
Plasma Derived Therapy Market by Product
Based on the products, the global plasma derived therapy market is segmented into immunoglobulin, clotting factors, albumin, and others (alpha-1 proteinase inhibitors, c1-esterase inhibitor [c1-inh], etc.).
Immunoglobulin segment accounted for the largest revenue share of the global plasma derived therapy market in 2022. Various ailments, including immune deficiencies, autoimmune diseases, and neurological conditions, are successfully treated with immunoglobulins. The increased demand for immunoglobulin in the plasma derived therapy market is predominantly due to the rising prevalence of immune system disorders and the expanding usage of immunoglobulins as a routine treatment option for these conditions. Additionally, the availability of cutting-edge fractionation methods and the rise in plasma collection facilities have increased the viability and affordability of producing high-quality immunoglobulin products. The immunoglobulin segment is anticipated to acquire a crucial part of plasma derived therapy market segment owing to the increasing incidence of autoimmune diseases and the growing use of immunoglobulins.
Plasma Derived Therapy Market by Application
Based on the applications, the global plasma derived therapy market is segmented into hemophilia, idiopathic thrombocytopenic purpura, primary immunodeficiencies, infectious diseases, hereditary diseases, and others (burns, major surgery, organ transplant, etc.).
Hemophilia accounted for the highest revenue share of the global plasma derived therapy market in 2022. In terms of global plasma derived therapy market forecast, the hemophilia segment dominated the global plasma derived therapy market due to the high demand for plasma derived clotting factor concentrates (CFCs) to manage bleeding disorders, such as hemophilia A and B. As a result, there is a high demand for CFCs in the plasma derived therapy market. Several plasma derived therapies are available to treat hemophilia, for example, factor VIII, IX concentrate, Von Willebrand factor concentrate, anti-inhibitor coagulant complex, and fibrin sealant. These therapies are crucial for individuals with hemophilia as they help to prevent bleeding episodes and reduce the risk of long-term joint damage. Additionally, technological advancements have made high-purity CFCs more feasible, resulting in safer and more effective treatments for patients with hemophilia. The development of extended half-life CFCs has also increased the efficacy of these therapies and reduced the treatment frequency, which has further fueled the growth of the hemophilia segment in the plasma derived therapy market. With the growing prevalence of hemophilia, particularly in developing countries, and the increasing use of CFCs in other bleeding disorders, the hemophilia segment is expected to continue to grow in the near future.
Plasma Derived Therapy Market by End User
based on the end users the global plasma derived therapy market is segmented into hospitals & clinics, research institutes and others.
Hospitals and clinics accounted for the highest revenue share of the global plasma derived therapy market in 2022. Patients with chronic disorders, who are the primary recipients of plasma derived therapies, usually receive therapy in hospitals and clinics. Due to this, hospitals and clinics are the primary end user of plasma-derived medicines, fueling the plasma derived therapy market growth. Also , hospitals and clinics have highly developed infrastructure and facilities for administering plasma derived therapies, including skilled medical personnel and specialized equipment, enabling the safe and efficient delivery of these therapies. This trend is anticipated to persist due to the rising demand for plasma derived medicines and the advantageous infrastructure in hospitals and clinics.
Plasma Derived Therapy Market by Region
Based on the region, the global plasma derived therapy market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global plasma derived therapy market in 2022. The plasma derived therapy market has grown owing to the region's highly established healthcare infrastructure and cutting-edge research and development capabilities. Furthermore, there is a high demand for plasma derived therapies in the area due to the rising prevalence of chronic diseases like immune system disorders, bleeding disorders, and neurological conditions. A huge pool of plasma donors is also available in the area, and numerous plasma collection facilities have made it easier to produce high-quality plasma derived products. The United States FDA offers expedited approval processes for plasma derived medicines, further enhancing the regulatory environment in North America for the plasma derived therapy market. The fact that several significant participants in the plasma derived therapy market have their headquarters in North America has helped the local market expand. The market for plasma derived therapy in North America is anticipated to grow due to the rising demand for these treatments and the favorable regulatory environment.
According to the plasma derived therapy industry analysis, the Asia Pacific region is considered the fastest-growing market with a rapid increase in revenue CAGR. Increasing populations and healthcare expenditure in the region is the most important factor influencing the plasma derived therapy market dynamics.
Plasma Derived Therapy Market Competitive Landscape
Multiple companies across the globe are investing in raising awareness and reimbursement, which is expected to improve the plasma derived therapy market outlook. Notable market participants account for the largest revenue share of the global plasma derived therapy market include,
Plasma Derived Therapy Market Strategic Developments
Plasma derived therapy refers to using plasma, a component of blood, to treat various diseases and medical conditions.
Immunoglobulin products accounted for the largest revenue share of the global plasma derived therapy market.
Increased health awareness and advancement in R&D are the major drivers for plasma derived therapy market.
Key companies operating the global plasma derived therapy market are Takeda Pharmaceutical Company Limited, Biotest AG, CSL Limited, Grifols, S.A., Kedrion S.p.A.
The global plasma derived therapy market is expected to grow at a revenue CAGR of 7.2% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain