Blood plasma derivatives are highly useful blood-derived products extracted from donors’ blood plasma. They are used to manufacture life-saving plasma protein therapies for treating various medical conditions such as immunodeficiency disorders, bleeding disorders, and infectious diseases. The increasing incidence of respiratory disorders worldwide has raised the demand for immunoglobulin plasma derivatives which are beneficial in managing respiratory infections.
The global Blood Plasma Derivatives Market is estimated to be valued at US$ 44.33 Bn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of respiratory illness is one of the major drivers of the Global Blood Plasma Derivatives Market Size over the forecast period. Acute respiratory infections are among the most common illnesses across both developed and developing countries. Plasma-derived immunoglobulins approved for the treatment of various respiratory infections have significant demand. For instance, FDA approved 10% intravenous immunoglobulin (IVIG) for the treatment of pediatric respiratory tract infections in 2019. With growing approvals for respiratory illness treatment the market for plasma derivatives is expected to grow immensely during the forecast period. However, stringent regulatory frameworks are major challenges faced by players in this market.
SWOT Analysis
Strength: Blood plasma derivatives have wide applications in disease treatment and therapeutics such as hemophilia, von Willebrand disease (VWD), primary immunodeficiencies, and more. This leads to increasing demand.
Weakness: High costs associated with collection, processing, storage, and transportation of derivatives add to overall production costs.
Opportunity: Growing aging population and rising prevalence of chronic diseases drive the need for plasma derivatives. Emerging economies offer growth potential.
Threats: Stringent regulatory approvals and framework. Alternative therapies may emerge.
Key Takeaways
The global blood plasma derivatives market is expected to witness high growth. Regional analysis related content comprises North America dominates the market currently due to favorable reimbursement policies and regulatory framework supporting plasma collection centers. Asia Pacific is expected to grow at fastest pace due to increasing healthcare investments, rising health awareness, and growing medical tourism.
Key players related content comprises Key players operating in the blood plasma derivatives market are Thermo Fisher Scientific, Inc., Chart Biomedical Co. Ltd., Merck KGaA, Barber-Nichols Inc., Praxair Technology, Inc., Linde LLC, Planer PLC, Cryologic Pty. Ltd., Charter Medicals, Nikkiso Cryo Inc., Cryogenic Control, and Haimen United Laboratory Equipment Development Co., Ltd. These key players are focusing on new product launches, collaborations, and expansions to increase their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it