The Plasma Expander Market is estimated to be valued at US$ 28.28 Billion in 2023 and is expected to exhibit a CAGR Of 6.7% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Plasma expanders play a vital role in maintaining intravascular volume in patients with hypovolemia due to hemorrhage, dehydration or sepsis. They help to maintain oxygen delivery to tissues and avoid hypotension. Common plasma expanders include hydroxyethyl starch, gelatin and human albumin. Their small size allows them to remain in the intravascular space and exert an oncotic effect drawing fluid out of the extravascular tissues.
Market key trends:
One of the key drivers boosting the plasma expander market growth is the increasing prevalence of trauma cases. Road accidents, violence and falls are among the leading causes of trauma worldwide. According to a WHO report, around 1.35 million people die each year as a result of road traffic crashes alone. Trauma patients often experience heavy blood loss requiring plasma expanders for volume replacement therapy. Growing healthcare infrastructure in developing nations along with ongoing research for novel plasma expanders are further fueling the market expansion.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low due to the high capital requirement and technical expertise required for manufacturing plasma expanders.
Bargaining power of buyers: The bargaining power of buyers is high as plasma expanders have applications in life threatening conditions giving buyers more options to negotiate on pricing.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated products and established buyer relationships of key players.
Threat of new substitutes: Threat of new substitutes is moderate as new plasma volume replacement therapies can be introduced.
Competitive rivalry: High due to presence of many global players.
SWOT Analysis
Strength: Wide applications in therapy areas like burns, shock, hypovolemia etc. Rising trauma cases and surgical procedures drive market growth.
Weakness: Strict regulations for plasma collection and manufacturing. High R&D and manufacturing costs.
Opportunity: Emerging economies offer high growth potential. Investments in plasma fractionation facilities to increase supply.
Threats: Alternative blood volume replacement therapies. Reimbursement issues hinder market revenues.
Key Takeaways
The global Plasma Expander Market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing trauma cases, burn injuries and rising surgical volumes. The market was valued at US$ 28.28 billion in 2023.
Regionally, North America dominated the plasma expander market in 2023 due to advanced healthcare systems and increasing public–private investments in plasma collection centers. Asia Pacific is expected to witness fastest growth during the forecast period supported by rising healthcare expenditure, healthcare reforms and expanding patient pool in developing countries.
Key players operating in the plasma expander market are Baxter International Inc., Fresenius SE & Co. KGaA, CSL Limited, Grifols, S.A., B. Braun Melsungen AG, Hikma Pharmaceuticals PLC, Octapharma AG, Kedrion S.p.A., Shanghai RAAS Blood Products Co., Ltd., Terumo Corporation, JW Life Science, Celgene Corporation, Pentapharm Ltd., Haemonetics, Corporation, Macopharma.
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