Plasma Fractionation Market Analysis
The plasma fractionation market is projected to grow at a 6.5% CAGR between 2018-2023, reveals the new Market Research Future (MRFR) report. Plasma is a component in the blood that has thousands of proteins, of which just a handful of 20 is used for producing therapeutic plasma products. The process to separate, extract, and purify these proteins from the plasma is known as fractionation process. They fit into three classes- albumin that is used for treating fluid loss or supplementing low albumin levels, clotting factors that are used for treating hemophilia & other bleeding disorders, and immunoglobulins that are used for enhancing the immune response to disease as well as treat auto-immunity. It has wide applications in hemato-oncology, rheumatology, pulmonology, critical care, hematology, neurology, immunology, and others.
Numerous factors are adding to the global plasma fractionation market. Such factors, according to the recent MRFR report, include rising incidence of autoimmune and respiratory disorders, rising plasma collection, technological advancements, increasing geriatric population, and increasing participation of top market players. Additional factors adding to the global plasma fractionation market growth include the rising usage of plasma proteins to diagnose and treat various complex disorders, rising research and development to create plasma-based products, rising usage of immunoglobulins in different therapeutic applications, growing geriatric population, and increase in plasma collection centers.
On the contrary, unfavorable reimbursement policies, the high price of advanced products, and the availability of recombinant alternatives are factors that may limit the global plasma fractionation market growth over the forecast period.
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Plasma Fractionation Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global plasma fractionation market based on end user, application, and product.
By product, the global plasma fractionation market is segmented into protease inhibitors, albumin, coagulation factor concentrates, immunoglobulin, and others. Immunoglobulin is again segmented into subcutaneous immunoglobulin (SCIG), intravenous immunoglobulin (IVIG), and others. Coagulation factor is again segmented into Factor XIII, fibrinogen concentrates, prothrombin complex concentrate, von Willebrand factor, factor IX, and factor VIII. Of these, the von Willebrand factor will lead the market over the forecast period.
By application, the global plasma fractionation market is segmented into hemato-oncology, rheumatology, pulmonology, critical care, hematology, neurology, immunology, and others. Of these, the neurology segment will dominate the market over the forecast period.
By end user, the global plasma fractionation market is segmented into academic institutes, clinical research laboratories, hospitals and clinics, and others. Of these, hospitals and clinics will have a major share in the market over the forecast period.
Plasma Fractionation Market Regional Analysis
By region, the global plasma fractionation market covers the growth opportunities and recent trends across Europe, the Americas, the Middle East & Africa (MEA), and the Asia Pacific (APAC). Of these, the Americas will lead the market over the forecast period. Factors adding to the growth of the plasma fractionation market in the region include the rising incidence of immunodeficiency disorders and the presence of leading market players.
The plasma fractionation market in Europe is predicted to hold the second-largest share over the forecast period for the increasing research and development investments and rising technological advancements.
The plasma fractionation market in the APAC region is predicted to grow at the fastest pace over the forecast period for the increasing healthcare expenditure.
The plasma fractionation market in the MEA is predicted to have a small share over the forecast period for the inadequate economic development in the African region.
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Plasma Fractionation Market Key Players
Key players profiled in the plasma fractionation market report comprise Shire, Shanghai RAAS, Sanquin, Octapharma AG, LFB group, Kedrion S.p.A, Japan Blood Products Organization, Grifols, S.A., Green Cross Corporation, CSL Limited, China Biologic Products Holdings, Inc., Biotest AG, and Bio Products Laboratory (BPL).