Latest Trends in the Global Plasma Fractionation Market; MRFR Releases the Forecast for 2018-2023
Plasma Fractionation Market Research Report: By Product (Immunoglobulin, Coagulation Factor Concentrates, Albumin, Protease Inhibitors, and Others), Application (Immunology, Neurology, Hematology, and Others), End User – Global Forecast Till 2027
Global plasma fractionation market is growing significantly mainly due to the growing demand for therapies for rare chronic conditions, like autoimmune disorders and hemophilia. Factors such as the increasing number of market players that are increasingly setting up plasma collection centers is a key factor impacting the growth of the market, positively.
The increasing use of plasma in stem cell research, genetic & tissue engineering, biochemistry, and cancer research alongside the growing number of plasma collection centers that are meeting this growing demand are fostering the growth of the market. Moreover, the increasing prevalence of chronic diseases that are prompting the need for effective medicines and treatment methods, hugely, escalate the market on the global platform.
Acknowledging the colossal accruals, the market is garnering steadily, Market Research Future (MRFR), in its recently published study report, asserts that the global plasma fractionation market will further generate exponential accruals by 2023, registering a CAGR of 6.5% throughout the forecast period (2018 -2023). In 2018, the market acquired a valuation of USD 18073 MN.
Besides, the rising number of research activities in pharmaceutical manufacturing and bioscience laboratories or research institutes explains the augmented demand for plasma fractionation that is increasing the size of the market. Undoubtedly, improving economic conditions, globally are playing a vital role in propelling market growth, widening access to the quality, and improved health care.
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On the other hand, shortages of healthy donors are a key factor impeding the growth of the market. Also, the lack of funding programmes is obstructing the growth of the market, especially in the developing regions.
Nonetheless, the huge support in terms of funding rendered by well-established market players and developed countries is a key factor that would support the growth of the market, filling up the demand and supply gap.
Global Plasma Fractionation Market- Segmentations
For ease of understanding, the analysis has been segmented into four key dynamics:
By Product : Immunoglobulin, Coagulation Factor Concentrates, Albumin, and Protease Inhibitors among others.
By Application : Immunology, Neurology, Hematology, Critical Care, Pulmonology, Rheumatology, and Hemato-oncology among others.
By End-user : Hospitals & Clinics, Clinical Research Laboratories, and Academic Institutes among others.
By Region : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Plasma Fractionation Market- Regional Analysis
The North American region, heading with the presence of major market players, dominates the global plasma fractionation market. Factors that are propelling the regional market include the increasing number of R&D activities in the pharmaceutical and biotech industry led by the substantial investments drive the regional market.
The well-developed economy accounts for a key driving force behind the growth of the regional market, allowing adequate funding required for R&D. Besides, the increasing prevalence of various chronic diseases and immunodeficiency disorders foster market growth in the region. The US accounts for the major contributor to the growth of the market, supplying half of the global demand for plasma.
The plasma fractionation market in the European region accounts for the second-largest market, globally. The pervasively growing demand for plasma in the therapies to treat rare chronic conditions, such as autoimmune disorders and hemophilia drive the regional market.
Additionally, the increasing emphasis on R&D in the biotechnology sector led by the rising funding is a dominant driving force behind the market growth in the region. Indeed, the resurging economy in Europe is substantiating the growth of the plasma fractionation market driving the pharma sector.
The Asia Pacific plasma fractionation market has emerged as a profitable market, globally. Factors such as the increasing number of plasma collection centers and research labs are some of the key factors that are defining the market landscape in the region. Also, rapidly improving economic conditions, proliferating pharmaceutical industry and the rapidly developing healthcare technologies in the region provide impetus to the market growth.
Global Plasma Fractionation Market- Competitive Analysis
Highly competitive, the global plasma fractionation market appears to be fragmented with the several large and small players forming a competitive landscape. Leverage to the high demand and the growth potential in the market; these players plan to increase their collected plasma use in the life science environment as well as in other pharma companies.
Key players also emphasis on providing flexible packaging systems offered in multiple formats, including custom configurations to meet customized requirements. They strive to provide such containment and delivery systems that can preserve the physical, chemical, and functional characteristics of the plasma.
They also strive to provide the plasma contain in disposable vessels with advanced surfaces, that will be convenient for the life science researchers. Contracted commercial collectors are not bound to keep collected plasma in the country it is obtained from, and they can redirect it to other buyers as well at the end of the contract term.
Major Players:
Key players leading the global plasma fractionation market include Bio Products Laboratory (BPL), Biotest AG, China Biologic Products Holdings, Inc., CSL Limited, Green Cross Corporation, Grifols, S.A., Japan Blood Products Organization, Kedrion S.p.A, LFB group, Sanquin, Shire, Shanghai RAAS and Octapharma AG among others.
Industry/Innovations/Related News:
March 25, 2019 --– GCAM, Inc., (the US), a plasma collection company, announced the addition of a new plasma collection center in Brownsville, Texas. With the latest additions, GCAM now runs ten plasma donation centers nationwide. Establishing more plasma collection facilities will offer long-term assurances that supply will keep pace with the needs of patients and the plasma collection
GCAM is a member of South Korea's GC group of companies and runs source plasma centers across the US. And its immediate parent company GCBT owns a state-of-art plasma fractionation facility in Montreal, Quebec. GCAM collects high-quality source plasma for GC Pharma and other plasma fractionators, collecting up to 550,000 liters of source plasma annually.
The company also confirms that two additional plasma collection center will be established this year, helping local economies and bring job opportunities to the local communities.
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Contact:
Akash Anand
Market Research Future
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