Plasma Therapy Market Highlights
According to MRFR analysis, the global plasma therapy market is expected to cross USD 895.45 million by 2030 at a CAGR of 13.8%.
The global plasma therapy market is driven by several factors, such as the growing prevalence of immune deficiency disorders, autoimmune disorders, bleeding disorders and rising acceptance of plasma therapy in neurology and other therapeutic indications. The surge in the adoption of therapeutic protein drugs in the cure of a broad range of clinical symptoms. This is expected to rise as a potential for the market during the forecast period. Approvals around the globe for new plasma-derived therapies will increase the demand. Thus, the above-mentioned factors are anticipated to surge the growth of the global plasma therapy market soon. Technological advancements in the field and rising awareness among the population regarding the disease and availability of the treatment are pushing the market to new heights.
Plasma therapy has a wide application such as in the treatment of expanding list of life-threatening, debilitating, and chronic disorders. The therapies are used in the treatment of various diseases. The treatment includes immunoglobulins used to treat various diseases in individuals with autoimmune diseases and immune deficiencies.
Clotting-factor therapies are used for people with hemophilia B and A along with other blood-related disorders, and albumin is used in acute settings for the treatment of burns, trauma, shock, and others. plasma protein therapeutics association are highly used in replacement therapies to cure conditions, such as lack of a coagulation factor in Hemostasis. The deficiency can be due to autoimmune disorders or genetic, and it might occur as a complication of cancer. The clotting factor fibrinogen is used as replacement therapy for haemorrhagic diathesis in diseases like afibrinogenemia, dysfibrinogenemia, and hypofibrinogenemia.
Segmentation
The global plasma therapy market has been segmented into type, source, and application. By types, the market has been segregated into pure PRP, leukocyte-rich PRP, pure platelet-rich fibrin, and leukocyte-rich fibrin. The pure PRP segment demonstrates the largest revenue share of the global market owing to the reduced or no risks in the use of pure PRP. Furthermore, its ability to ameliorate the healing process of tendons, tissue, and bones is another key factor propelling the growth of pure PRP in the market. The leukocyte rich PRP segment is anticipated to be the fastest growing market soon. This is attributed to the growth in the number of patients suffering from osteoarthritis of the hips and knee.
Based on source, the global plasma therapy market report has been classified as autologous and allogenic. The autologous segment accounts for the major share of the market. High awareness of plasma therapy and its approval as a possible remedy for healing tissues and bones are surging the development of the autologous source segment in the market.
Based on applications, the market is categorized into orthopedic, dermatology, and cardiac muscle injury, dental, and nerve injury. The dermatology segment is estimated to register the highest growth with considerable CAGR during the forecast period. This is attributed to the inclining number of patients with hair and skin-related conditions, rising beauty consciousness in the general population, and growing use of micro-needling for cosmetic purposes which is bolstering the segment's market growth.
Regional Analysis
North America holds the largest plasma therapy market share in 2021, owing to the availability of leading platelet rich plasma therapy product manufacturers, active participation of research and academic institutes to conduct advanced research and development activities, rising awareness toward benefits of platelet rich plasma (PRP) therapies, and assistance from regulatory authorities and government to encourage the use of PRP for medical applications. The well-developed healthcare infrastructure in the region, along with the availability of highly skilled professionals is influencing the market growth. The high awareness in the population in turn provides many plasma donors further fuelling market growth.
Asia-Pacific is anticipated to be the fastest-growing market during the forecast period due to large population in the region as well as the constant emergence of chronic diseases. These factors are expected to boost the market growth in the region. The developing healthcare facilities and active government participation for the improvement of public health are providing huge opportunities for the market. The outbreak of COVID-19 has enhanced the awareness regarding plasma therapy as it was used as a potential treatment, and India was one of the forerunning countries to adapt the therapy. The high number of disease patients in the region is a key contributor to the regional market growth. An increase in investment by the major market players in the region is also boosting the market in Asia-Pacific.
Furthermore, the growth of the market in the Rest of the World is attributed to the technological advancements in plasma therapy coupled with the prevalence of diseases throughout the region.
Plasma Therapy Market Players
The global plasma therapy market players are BioLife Plasma Services (US), Cambryn Biologics LLC (US), Biotest (Germany), CSL Ltd. (Australia), Grifols International S.A. (Spain), Kedrion S.p.A. (Italy), LFB S.A (France), Bio Products Laboratory Ltd. (U.K.), China Biologic Products, Inc. (China), Octapharma (Switzerland), Arthrex, Inc. (US), DePuy Synthes Companies (US), Grifols S.A (Spain), Global Stem Cells Group, Inc. (US), Juventix Regenerative Medical LLC (US), and Celling Biosciences, Inc. (US) among others.
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