Global Plasma Fractionation Market worth 26.69 Billion USD by 2023
Plasma fractionation refers to the process of separating the various components of plasma and is used in prevention and treatment of life-threatening diseases caused by trauma, immunologic disorders, and infections. The main function of plasma fractionation involves removal or inactivation of viruses and prions. The major factors such as increased diagnosis rate, rising geriatric population, increasing incidences of bleeding and immune disorders, and increasing use of immunoglobulin and alpha-1-antitrypsin are anticipated to drive the growth of plasma fractionation market globally.
The latest market report added by Decisiondatabases.com "Global Plasma Fractionation Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast” highlights the growth trend and upcoming opportunities in the global market. The global plasma fractionation market is estimated to grow at a CAGR of 7% from 2016 to 2023 to reach USD 26.69 Billion by 2023.
The global plasma fractionation market, as per the report, is segmented on the basis of products, end user, applications, and geography. Based on products, the plasma fractionation market is further classified into immunoglobulin, coagulation factor concentrates, albumin, protease inhibitors, and other plasma products. The immunoglobulin segment is sub-segmented into intravenous immunoglobulin (IVIg), subcutaneous immunoglobulin (SCIg) and others. Coagulation factor concentrates are divided into factor VIII, factor IX, factor XIII, Von Willebrand factor, prothrombin coagulation concentrates, and fibrinogen concentrates. The immunoglobulin segment is anticipated to hold the largest market share during the previous years due to the rise in a number of immunology and neurological diseases, increasing use of subcutaneous immunoglobulin (SCIg) and increasing off-label indications of intravenous immunoglobulin (IVIg). However, the highest growth rate is anticipated to be observed by the protease inhibitors segment over the next six years. The growth of protease inhibitors is mainly attributed to its growing use for respiratory diseases and increasing application in different diseases.
On the basis of application types, the plasma fractionation market is sectioned into immunology, neurology, hematology, pulmonology, hemato-oncology, rheumatology, critical care, and other applications. Of these, the largest share of the global plasma fractionation market is occupied by the neurology segment.The dominant share of this market segment is attributed to the factors such as increasing use of immunoglobulin in neurological diseases. Based on end-users, the global plasma fractionation market is segmented into clinical research laboratories, hospitals and clinics and academic institutes. Among these, hospitals and clinics account for the largest share of the plasma fractionation market owing to the increasing use of plasma products for labeled and off-labeled use for the treatment of various diseases in hospitals and clinics.
On the basis of geography, the plasma fractionation market can be fragmented into regions such as Asia-Pacific, Europe, North America and the Rest of the World. Of these, North America accounted for the largest share of the market for plasma fractionation. However, the highest growth rate is expected to be observed by Asia-Pacific during the estimated period. The growth in the Asia-Pacific region can be attributed to the factors such as rising geriatric population, increasing use of immunoglobulin and albumin and increasing focus on prophylactic treatments, better diagnosis, and medical research.
The major share of the global plasma fractionation market is shared by the key players - Grifols S.A (Spain), CSL Ltd. (Australia), Kedrion S.p.A (Italy), Baxalta Incorporated (U.S.), China Biologic Products, Inc. (China), Biotest AG (Germany), Octapharma AG (Switzerland), LFB S.A (France), Bio Product Laboratory Ltd. (U.K.), and Sanquin (Netherlands).
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