The growing number of diagnostic diseases and the rising awareness among people concerning various diseases and the available treatments are the major factors that are predicted to ensure market growth of the market in the coming years. As per the research report by TMR, in 2017, the global plasma fractionation market stood at US$ 18,420.00 Mn and is likely to reach US$ 33,763.10 Mn by the end of 2026. The market is projected to register 7.10% CAGR between 2018 and 2026.
Rising Cases of Chronic Disorders to Propel Plasma Fractionation Market
The increasing prevalence of respiratory diseases and the growing geriatric population are projected to enhance the growth of the global plasma fractionation market over the next few years. The rising use of imunoglobulins in several therapeutic areas is another major factor that is likely to ensure the growth of the market in the coming years. Also, a significant rise in the plasma collection is projected to ensure the overall development of the market in the coming few years. On the flip side, the strict regulations imposed by government and the high cost for plasma fractionation are estimated to curtail the growth of the market in the near future. Nonetheless, the rise in the number of hemophilia patients is estimated to accelerate the market growth in the next few years.
The global market for plasma fractionation has been segmented on the basis of product into coagulation factor concentrates, albumin, protease inhibitors, immunoglobulin, and others. In terms of application, the market has been categorized into critical care, immunology, neurology, hematology, and pulmonology. Furthermore, academic Institutes, clinical research laboratories, and hospitals and clinics are considered as the key end users of the global plasma fractionation market.
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Asia Pacific to Offer Growth Opportunities for Market Players
From a regional perspective, Europe and North America are anticipated to hold a key share of the global plasma fractionation market over the next few years. The strong growth of these two regions can be attributed to the rising prevalence of several infectious diseases, such as influenza, cholera, and Syphilis. In addition to this, the rising geriatric population is another key factor that is estimated to support the development of the market in the coming years. The Asia Pacific market for plasma fractionation is likely to witness a high level of growth owing to the presence of a large number of patients. Moreover, the poor sanitization and the low awareness among people regarding the availability of plasma fractionation products are estimated to enhance the growth of the market in the next few years.
At present, the competitive environment of the plasma fractionation market is moderately fragmented with a few players operating across the globe. The development of new products and the increasing investments by the key players for research and development activities are estimated to support the market growth as well as enhance the overall competitive scenario over the next few years. In addition, the key players are making efforts to commercialize the affordable proteins that have been derived from the plasma fractionation, which is likely to ensure the overall growth of the market in the next few years. The leading players in the plasma fractionation market across the globe include Shire plc, CSL Limited, Sanquin, GRIFOLS, Biotest AG., Baxter International Inc., Octapharma Kedrion, and China Biologic Products Holdings, Inc.
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