USD 30.87 billion
Report ID:
SQMIG35H2165 |
Region:
Global |
Published Date: August, 2024
Pages:
219
|Tables:
119
|Figures:
77
Global Plasma Fractionation Market size was valued at around USD 30.87 billion in 2022 and is expected to rise from USD 33.43 billion in 2023 to reach a value of USD 63.27 billion by 2031, at a CAGR of 8.3% over the forecast period (2024–2031).
One method used to extract specific amounts from a mixture is called fractionation. Additionally, the fluid component of blood is called plasma, and it can be separated to produce other plasma derivatives such immunoglobulins and albumin. These generated plasma products are used to treat a variety of blood plasma-related illnesses due to their therapeutic properties. For example, coagulation factor VIII, a plasma product, is used to treat and prevent haemophilia. It is often used during surgical operations to prevent excessive blood loss. Likewise, immunoglobulins are used to address immunological deficits, both primary and secondary.
The main driver of the global plasma fractionation market's growth is the world's ageing population, which is more likely to be susceptible to rare diseases that call for the usage of plasma derivatives. Additionally, the market for plasma fractionation is growing due to the increased use of immunoglobulins and alpha-1-antitrypsin in many medical fields globally. Additionally, a significant element driving the market's expansion is the global spike in plasma collection facilities. The market for plasma fractionation is also growing because of the government's supportive initiatives to raise knowledge about the usage of goods generated from plasma. The market's expansion is, however, limited by the high cost of items derived from plasma.
Global Market Size
USD 30.87 billion
Largest Segment
Immunoglobulins
Fastest Growth
Albumin
Growth Rate
8.3% CAGR
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The global plasma fractionation market is segmented based on product, method, application, end use, and region. Based on product, the market is segmented into Albumin, Immunoglobulins (Intravenous, Subcutaneous, Others), Coagulation Factors (Factor VIII, Factor XI, Von Willebrand, Prothrombin complex, Fibrinogin, factor XIII, others), Protease Inhibitors, Others. By application, the market is segmented into Neurology, Hematology, Oncology, Immunology, Critical care, Hemato-Oncology, rheumatology, Pulmonology and others. By end use, the market is segmented into hospitals & clinics, clinical research, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Plasma Fractionation Market Analysis by Product
As per categorization by product, the market is classified as immunoglobulins, coagulation factor concentrates, albumin, protease inhibitors and other plasma products. Among these, immunoglobulins earned the largest share and continue to dominate the market. The global plasma fractionation market is experiencing a notable change with the introduction of new products, particularly immunoglobulin products which can be attributed to the innovation in the purification technologies and rise in the therapy's curative of autoimmune diseases and immunodeficiencies. This market is evidently led by immunoglobulins given the effectiveness, safety and variety of conditions that they can address – which further underpins their indispensable role in the health care sector.
Albumin is poised to be the fastest-growing segment in the global plasma fractionation market due to its diverse applications in critical care, including fluid resuscitation, liver disease treatment, and as a stabilizer in drug formulations. The growing incidence of chronic diseases along with the increasing number of surgical operations are active factors in the growth of the albumin products market. Furthermore, improvement in manufacturing processes and better emphasis on the development of therapeutic uses helps raise the market attractiveness of albumin and makes it one of the main components expected to grow in the plasma fractionation market.
Plasma Fractionation Market Analysis by Method
Cryoprecipitation is gaining traction in the global plasma fractionation market due to innovations in freeze-thaw processes that enhance yield and quality. Its dominance stems from its critical role in treating bleeding disorders, such as hemophilia, and its ability to provide concentrated clotting factors, making it essential in emergency and surgical care.
Due to efficiency and accuracy in separating and purifying plasma proteins, it is expected that Chromatography will emerge as the fastest growing technique in the global plasma fractionation market. The growing need for advanced immunoglobulin and albumin products, moisture content in the albumin, most importantly, chromatographic technologies are said to enhance the yield and lower the processing time. Given that healthcare systems are right now oriented towards improved production techniques without compromising on the safety and effectiveness of the products, the strategy behind the use of chromatography in boosting productivity and facilitating the use of new products will guarantee its demand in the foreseeable future.
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Owing to the presence of an advanced healthcare system, extensive research and development activities, and high expenditure on biopharmaceuticals, North America holds the largest share of the global plasma fractionation market. Health care services and the concept of personalized medicine within these advanced health care systems also contribute to the market for plasma-based medical products, especially immunoglobins and albumin. Moreover, the existence of essential contributors to the market coupled with strong regulatory policies helps in ensuring the safety and effectiveness of the products. The calling burden of chronic diseases is on the rise, and plasma therapies are becoming popular among both practitioners and patients which also serves to enhance the growth of the market in North America further solidifying its position at the helm of global market trends.
Europe is the most progressive region walking the global plasma fractionation market, due to the booming need for efficacious therapeutic plasma products and improvement in fractionation processes. This region has milder regulatory approach towards plasma therapies which enhances innovation in the region. Moreover, the aging population is intensifying the demand for treatment as well as the increase of autoimmune diseases and hemophilia. Additionally, strong collaborations between academic institutions and biopharmaceutical companies enhance research and development efforts, facilitating the introduction of new products. This dynamic environment positions Europe as a leader in the expanding plasma fractionation landscape.
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Plasma Fractionation Market Drivers
Rising Demand for Immunoglobulins:
Technological Advancements in Fractionation Processes:
Restraints
High Production Costs:
Regulatory Challenges:
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The global plasma fractionation market remains controlled by both historical firms and new entrants which are boosting growth and creativity. Examples of major scion companies are Grifols, CSL Behring, Takeda Pharmaceutical Company, and Octapharma, whose focus is on improving product development and industrial expansion within international borders. These firms invest significantly in research and development to improve processing technologies and product efficacy, positioning themselves strategically to meet the increasing demand for plasma-derived therapies worldwide.
Top Player’s Company Profiles in Plasma Fractionation Market
Plasma Fractionation Market Recent Developments
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As per SkyQuest analysis, in conclusion, the global plasma fractionation market is experiencing robust growth driven by rising demand for plasma-derived products, particularly immunoglobulins and albumin. Technological advancements in fractionation processes and increased plasma collection facilities further support this expansion.
Even with difficulties like high production costs and strict regulations, major companies are innovating to improve the quality and availability of the products. While North America and Europe remain at the forefront of the market, there will be a regional focus on plasma fractionation research, development, applications, and patient management that will define the future of plasma fractionation, ensuring effective therapies for numerous diseases.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 30.87 billion |
Market size value in 2031 | USD 63.27 billion |
Growth Rate | 8.3% |
Base year | 2023 |
Forecast period | 2024–2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Plasma Fractionation Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Plasma Fractionation Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Report ID: SQMIG35H2165