Blood plasma derivatives are life-saving therapeutics that are extracted from human blood plasma and are used to treat several critical conditions including hemophilia, primary immunodeficiency disease, and other bleeding disorders. Therapeutics extracted from blood plasma such as immunoglobulin, albumin, Factor VIII, and Factor IX play a vital role in disease management and treatment. The increasing prevalence of chronic diseases and growing demand for effective biologics and therapeutics for disease management is fueling the growth of the blood plasma derivatives market.
Market key trends:
The increasing demand for blood plasma derivatives from emerging economies is one of the key trends bolstering market growth. Factors such as the rising geriatric population, growing incidence of chronic diseases, increasing healthcare expenditure, and improving access to healthcare are fueling the demand for plasma derivatives in emerging Asian and Latin American countries. Moreover, growing awareness about the benefits of plasma-derived therapies among patients and physicians in developing nations is further propelling the market growth. Manufacturers are focusing on capacity expansion and new product launches to cater to the surging demand from emerging economies, which will continue to present remunerative opportunities for market players over the forecast period.
Segment Analysis
The global blood plasma derivatives market can be segmented into albumin, factor VIII, factor IX, immunoglobulins, hyperimmune globulins, and other plasma derivatives. Albumin dominates the market currently due to its wide applications in cancer, burns, shock, cirrhosis of liver and other disorders. It helps maintain colloidal osmotic pressure in the blood vessels and transports molecules like hormones, fatty acids and pharmaceuticals through the body.
Key Takeaways
Global Blood Plasma Derivatives Market Size is expected to witness high growth over the forecast period of 2024 to 2031.
Regional analysis: North America currently dominates the global blood plasma derivatives market. This is attributed to the presence of leading market players, growing research & development activities, rising demand for plasma products and increasing applications of immunoglobulins in the region. Asia Pacific is anticipated to register the highest CAGR during the forecast period owing to growing prevalence of bleeding and immune disorders, rising healthcare spending, favourable reimbursement scenario and increasing patient awareness in the region.
Key players operating in the blood plasma derivatives market are Iron Mountain, ARC, Access, Shred-it, Restore plc, Cintas, Proshred, National Document Shredding Service, Shred Station, Red Dog Shred, Shred-X, Secured Document Shredding, Shred Works, Guardian Data Destruction, EndoShred, Mobile Shred, ShredQuick, ProShred Chicago, Shreds Unlimited. These players are focusing on new product launches, partnership agreements, and expansion of manufacturing facilities to gain market share.
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