by The global plasma derived medicine market is a multibillion-dollar industry that provides life-saving plasma derived therapies to patients worldwide. Plasma derived medicines are manufactured from human blood plasma which contains various proteins essential for blood clotting and immunology. Some key plasma derived therapies include immunoglobulins, albumin, coagulation factors, and hyperimmune globulins. These therapies are used for treating immunodeficiency disorders, bleeding disorders, infectious diseases, and other medical conditions. The demand for plasma derived therapies has increased in recent years due to the growing patient population, high efficacy and safety of these medicines compared to alternatives.
The global plasma derived medicine market is estimated to be valued at US$ 33,450 million in 2021 and expected to exhibit a CAGR of 6.8% during the forecast period (2021-2028).
Key Takeaways
Key players operating in the plasma derived medicine market are Grifols, S.A., SK Plasma, Fusion Healthcare, Takeda Pharmaceutical Company Limited, LFB, Octapharma AG, CSL Limited, Bio Products Laboratory Ltd., China Biologic Products Holdings, Inc., Kedrion.
The Plasma Derived Medicine Market Growth is expected to witness considerable opportunities due to rising spending on healthcare globally, increasing adoption of immunoglobulin therapy, and approval of novel plasma derived therapies. Technological advancements in plasma collection methods, fractionation techniques, and diagnostics are further fueling the market growth.
Market Drivers
The key driver boosting the growth of the plasma derived medicine market includes growing incidence of immunodeficiency and bleeding disorders worldwide. Plasma derived medicines offer highly effective treatment for various life-threatening diseases that lack alternative drug therapies. Increasing plasma collection centers and growing awareness about plasma donation is also driving the market growth. Moreover, approval and launch of novel plasma derivatives and expanding applications of existing medicines are expected to present lucrative opportunities over the forecast period.
Challenges in Plasma Derived Medicine Market
The plasma derived medicine market faces several challenges. Many patients needing therapy are located in remote areas which makes treatment access difficult. Transportation and logistical issues pose hurdles in delivering medicines to all who need them. Plasma collection also presents challenges due to donor availability and safety concerns. Stringent regulations surrounding plasma collection and therapy production maintain safety but increase costs. Budgetary pressures on healthcare systems worldwide pose a continual challenge to maintaining and expanding access to life-saving plasma therapies. Innovation is ongoing to address challenges through new collection and fractionation methods, thermostable factor therapies, and subcutaneous administration options.
SWOT Analysis
Strength: Collection of plasma from volunteer donors allows production of safe, effective medicines to treat immunodeficient patients worldwide. Fractionation technology enables large-scale, high-yield production of plasma components.
Weakness: High production and regulatory costs are passed on increasing therapy prices. Remote patient locations present access challenges.
Opportunity: Growing patient numbers due to improved diagnosis create demand. Innovation towards more convenient delivery methods expands markets.
Threats: Widespread immunization may reduce need for replacement therapies. Stringent regulations while ensuring safety also increase market barriers.
In terms of value, the plasma derived medicines market regional analysis is most highly concentrated in North America and Europe. North America accounts for the largest share due to availability of advanced healthcare facilities and major market players in the region. Europe is the second most lucrative region driven by increasing plasma collection coupled with rising product awareness.
The Asia Pacific region is projected to be the fastest growing market for plasma derived medicine during the forecast period. Factors such as increasing healthcare expenditure, growing incidences of immunodeficiency and bleeding disorders, rising investments by key players and improving healthcare infrastructure will drive the Asia Pacific plasma derived medicine market. Furthermore, growing population, rising living standards and economic growth in emerging countries such as India and China will further propel regional market expansion.
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
