Global Blood Plasma Market Forecast 2020-2028
The global blood plasma market is projected to register a CAGR of 6.24% during the forecast period, 2020-2028. The eminent drivers of market growth are the increasing patient pool for hemophilia treatment, the rising geriatric population, the increasing occurrence of sports injuries, and the growing usage of albumin in therapeutic areas.
Plasma is essential for the regulation of body functions. Blood Plasma comprises of several components that are useful, like coagulation factors, immunoglobulin, protease inhibitors, and albumin. It forms an essential part of therapeutic treatment for several therapies for its potential in combating several chronic diseases like leukemia and hemophilia. Immunodeficiency is a major factor responsible for severe infections, and has become a significant concern in several parts of the world. The new product launches and enhancements are augmenting the demand for blood plasma products in the market. At the same time, the expenses involved in such therapies, and the risk of blood-borne disease transmission, are the factors estimated to impede the growth of the market. The market faces challenges like a lack of a safe blood donor base, along with the shortage of plasma fractionation facilities. The competitive nature of the market is highly intense, and the market has the presence of a limited number of players.
The global blood plasma market is segregated geographically into Europe, North America, Asia Pacific, and the rest of the world, for further analysis. The North American region held the largest market share in 2019. Inkwood Research estimates the region to continue the trend until the end of the forecast period. The region is considered to be the epicenter for blood plasma therapy research and development activities, which is incorporated into various treatment methods in the region.
Some of the renowned companies registering their presence in the market include, Baxter International, Biotest AG, Takeda Pharmaceutical Company, Fusion Health Care, Arthrex, etc.
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