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Global Plasma Fractionation Market Anticipated to Generate a Revenue of $45,814.2 Million, Growing at a CAGR of 7.0% from 2020 to 2027 - Research Dive

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The global plasma fractionation market is estimated to be valued at $45,814.2 million by 2027, surging from $25,413.4 million in 2019 at a noteworthy CAGR of 7.0%.

Impact Analysis of COVID-19 on the Plasma Fractionation Market

The global market for plasma fractionation is estimated to experience a high growth amid the COVID-19 pandemic. This growth is projected to be due to the increasing complications in the COVID-19 patients. However, plasma therapy demonstrated some positive results in curing the patients suffering from the COVID-19 virus. Plasma is obtained from recovered COVID-19 patients as their blood has antibodies against the viral infection. Many plasma therapeutic companies have stepped forward to find the cure for this disease through the use of plasma. For instance, as per the news published in The Economic Times in April 2020, The Indian Council of Medical Research (ICMR) gave its consent to Kerala state government to initiate convalescent plasma therapy for the treatment of COVID-19 patients at Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST).

However, decrease in the number of plasma donors due to surgical procedure delays has reduced the supply of plasma and therefore has negatively impacted the plasma fractionation market growth.

Global Plasma Fractionation Market Analysis

Increasing autoimmune diseases among geriatric population is anticipated to accelerate the growth of the plasma fractionation market globally. Also, a surge in establishing plasma collection centers at various places and efforts in raising awareness about plasma donation by healthcare communities and government bodies are also expected to increase the revenue of plasma fractionation market. Such initiatives by the government and companies will boost the market growth of plasma fractionation market.

Apart from this, the use of immunoglobulins in various application centers like neurological, hematological, and other therapeutics will further accelerate the plasma fractionation market. For instance, as per the news published in Businesswire, on September 09, 2020, by Octapharma, IV immunoglobulin has improved hypoxia and decreased hospital stay of the COVID-19 patients.

However, the high cost related to plasma therapy restrains the market from growth. Furthermore, increasing use of recombinant alternatives such as fibrinogen concentration and protease inhibitor for the treatment of autoimmune diseases has also obstructed the plasma fractionation market growth. Also, the restricted medical reimbursement policies further impede the growth of the market.

Government funding and company investments in the research activities in the plasma therapy is expected to raise the market share of plasma fractionation market. The COVID-19 pandemic has provided opportunities to the biotech and biopharma companies to invest in the research and development activities related to plasma therapies. Many companies have also initiated collaborations to study the effectiveness of plasma therapy on COVID patients. For instance, Grifols, a biopharma company, collaborated with Food and Drug Administration (FDA) and Biomedical Advanced Research Development Authority (BARDA) on March 25, 2020, to develop plasma therapeutic products for COVID-19 patients.

Furthermore, lifestyle involving consumption of alcohol, tobacco, and fast food is increasing the risk of inflammatory disorders in the people, which are predicted to increase the opportunities in the plasma fractionation market growth. 

Global Plasma Fractionation Market, Segmentation

The global plasma fractionation market is segmented based on product, application, and region.

Product:

The plasma fractionation market is mainly classified into sub-segments like immunoglobulin, albumin, coagulation factors, protease inhibitors, and others. Among these, the immunoglobulin sub-segment is anticipated to have the fastest growth and surpass $ 22439.3 million by 2027, with an increase from $11862.3 million in 2019.

The market growth can be attributed to the diverse use of immunoglobulin therapy in many disorders like inflammatory disorders, primary, and secondary immune deficiencies, and autoimmune diseases. Also, fast advances in research and development related to immunoglobulin across the globe are contributing toward the quick growth of sub-segment in the plasma fractionation market.

Application:

The plasma fractionation market is divided into sub-segments such as neurology, immunology, hematology, critical care, rheumatology, pulmonology, and others. The neurology sub-segment is anticipated to have a dominating market share in the global market and register a revenue of $16862.3 million during the analysis timeframe. The rising cases of neurological disorders and growing old age population are expected to propel the exponential growth of the neurology segment in the plasma fractionation market.

End User

Based on the end user, the global market is bifurcated into hospitals & clinics, clinical research laboratories, and academic institutes. The hospitals & clinics sub-segment is predicted to have rapid growth and generate a revenue of $41162.7 million by 2027. This is due to increasing number of surgical procedures, improved healthcare facilities and infrastructure, and increasing use of plasma derived products in hospitals to treat various autoimmune diseases like type 1 diabetes.

According to geographical analysis, the plasma fractionation market for North America accounted for $9,933.2 million in 2019 and is estimated to reach $16,947.2 million by 2027, with a CAGR of 6.3%, owing to the advances and established healthcare sector and continuous innovations in treatment options for autoimmune diseases. Also, the presence key players and their constant efforts in the research and development field for plasma therapy will further increase the North America market for plasma fractionation.

The key players operating in the global plasma fractionation market include –

  1. Kedrion S.P.A.
  2. Sanquin
  3. Octapharma
  4. Japan Blood Products
  5. Bio Products Laboratory
  6. China Biologics Products Holdings
  7. Biotest AG
  8. CSL Behring
  9. Octapharma AG
  10. Grifols

Porter’s Five Forces Analysis for the Global Plasma Fractionation Market

  • Bargaining Power of Suppliers: The companies involved in plasma fractionation market are many and thus, they have several options and alternatives to handle expensive supplies. Therefore, the companies will demand the prices keeping their competitive market in the mind.
    Thus, the bargaining power of the suppliers is moderate.
  • Bargaining Power of Buyers: Buyers have high bargaining power, primarily because of the huge number of plasma derived products that are offered in low prices. The buyers can hence choose the service that best fits their preferences. 
    Hence, the bargaining power of buyers is high.
  • Threat of New Entrants: Startups entering this market are using advanced technology to manufacture plasma products in time without compromising with the quality. 
    As a result, the threat of the new entrants is high.
  • Threat of Substitutes: Quick product manufacturing along with the best quality being offered in the market by companies attract customers. However, companies that are already in plasma fractionation market constantly update its technology to keep up with the market trend.
    Therefore, the threat of substitutes is moderate.
  • Competitive Rivalry in the Market: The ventures operating in the global application security are opting for various businesses deployment strategies to hold their position in the market. Several companies are launching their value-added services in the international market and strengthening the footprint worldwide. 
    Therefore, competitive rivalry in the market is high. 
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