Blood plasma derivatives market – an overview
The increase in the occurrence of blood-related diseases is driving the growth of the market at an accelerated rate. Market-focused reports related to the health sector, among others, have recently been prepared by Market Research Future which publishes reports on this market. The market is estimated to earn USD 40,475.8 million in 2030 expanding at a CAGR of around 10.50 percent during the forecast period.
Increasing the variety of clinical applications has positively driven the growth of Blood plasma derivatives marketIn recent years. The demand for blood plasma derivatives has increased the existing preservation techniques and technologies, which have added to the expansion of the market. Hepatitis B, HIV and hepatitis C are among some of the diseases leading to an increase in the projected demand for blood plasma derivatives. Increasing the flow of investment in research and development for the market will create many opportunities for its growth.
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industry sectors
The Blood Plasma Derivatives market has been segmented into types, applications, and end users. Segmentation on the basis of type consists of antithrombin, albumin, fresh frozen plasma (FFP), intravenous immunoglobulin (IVIG) and others. The other segment type includes factor IX, factor VII and alpha 1 protein inhibitor concentration. On the basis of application the market is segmented into hemophilia B, hemophilia A, HIV, hepatitis C, hepatitis B, thrombocytosis and others. The second application consists of von Willebrand disease. Finally, the end-user segment consists of diagnostic centers, hospitals, clinics, blood transfusion centers, and others.
Detailed regional analysis
The global blood plasma derivatives market consists of regions such as Asia-Pacific, Europe, North America, Middle East and Africa. The North America region is the main region for the market. The North American market for blood plasma derivatives is expected to grow at a CAGR of 4.25 percent, which is expected to achieve revenue of USD 35.50 billion compared to USD 20 billion in 2016 by the end of the forecast period. The awareness surrounding the use of plasma derivatives for patients suffering from infectious diseases is fueling the growth of the market in the North American region. The Europe region is the second major market for blood plasma derivatives, estimated to grow at a CAGR of 3.8 percent. Extensive research on safe blood transfusion procedures by healthcare organizations and research laboratories will encourage the advancement of this market in the European region. While the Asia Pacific region is estimated to be the fastest growing market for the market. According to estimates, India is the most developing market in the region. The demand for plasma derivatives for HIV inactivation will absolutely benefit the demand for plasma derivatives in the Asia Pacific region. The blood plasma derivatives market is exhibiting steady growth in the Middle East and Africa region.
Global competitive analysis of competitors
The market plans their blueprints for corporate strategy in a way that can bring about the best results for growth in the current scenario, while enhancing the meaning of their product. The companies in this market get used to the state of events by maintaining financial liquidity and carrying out portfolio upgrades. It seems that the growth prospects in the market are promising throughout the forecast period. The constant delivery of customer value increased the market value. The ability to fuel competitive skills is one of the leading factors in their efforts during this period. The rising levels of diversity in the industry have allowed businesses to apply to the many potential customers available in the market. In addition, the contenders deal with the competitive environment by driving the progress factors in the market.
The main competitors in this market are SK Plasma (Korea), Fusion Healthcare (India), Grifols (Germany), CSL Limited (Australia), Baxter International Inc. (USA). Other competitors in this market are Biotest AG (Germany), Octapharma AG (Germany) and Bain Capital (USA).
Industry Updates:
June 2017 CSL has moved into the China market after a long-awaited move that will allow CSL to offer a full range of plasma-related treatments in China, which is among the fastest growing healthcare markets in the world.
CSL agreed to pay $352 million for 80% of Wuhan Zhong Yuan Rui De Biologics, a profitable business with sales of just $30 million based in central China. CSL has been importing albumin which is a blood plasma derivative used to stop bleeding in trauma victims to China for two decades, but it has been banned from importing other plasma derivatives such as immunoglobulins.
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