Plasma derived medicine refers to a variety of medicinal products that are extracted from human blood plasma. These medicines are used for the treatment of bleeding disorders, immunodeficiencies, hereditary angioedema, burns and other conditions. The need for plasma derived medicines has been increasing significantly owing to the rising prevalence of chronic diseases such as hemophilia and neurological disorders.
The global plasma derived medicine market is estimated to be valued at US$ 33,450 million in 2021 and expected to exhibit a CAGR of 6.8% during the forecast period (2021-2028).
Key Takeaways
Key players operating in the plasma derived medicine market are Grifols, S.A., SK Plasma, Fusion Healthcare, Takeda Pharmaceutical Company Limited, LFB, Octapharma AG, CSL Limited, Bio Products Laboratory Ltd., China Biologic Products Holdings, Inc., and Kedrion. These players are focusing on new product launches, expansions and acquisitions to strengthen their presence in the market.
The key opportunities in the Plasma Derived Medicine Market Growth include growing awareness about therapeutic benefits of plasma derived medicines and increasing investment in developing new plasma collection centers in developing countries. Companies are expanding their production facilities and plasma collection centers globally to cater to the rising demand. For instance, Takeda Pharmaceuticals recently expanded its plasma collection center network in Georgia to support its plasma supply needs.
Market Drivers and Restraints
One of the key drivers for the plasma derived medicine market growth is the increasing prevalence of hemophilia and other bleeding disorders globally. As per estimates, around 400,000 people worldwide have moderate or severe hemophilia. Growing patient population suffering from chronic diseases is expected to drive demand for effective plasma derived therapeutics.
However, high R&D and production costs associated with plasma derived medicines are a major restraint for market growth. Plasma derived therapeutics require complex fractionation processes which increases production costs. Stringent regulations pertaining to plasma collection and derivative manufacturing also adds to compliance costs. This makes plasma medicines highly expensive for general use.
Segment Analysis
The plasma derived medicine market has two key segments- immunoglobulins and albumin. Immunoglobulins accounts for the major share as it is widely used for treating several chronic health conditions and immune deficiencies. The extensive application in neurology, hematology, immunology and critical care has made immunoglobulins the dominating sub-segment.
The albumin segment is also gaining traction due to its increasing usage for volume expansion in trauma and burns cases, hypoalbuminemia, and liver diseases. Albumin is highly preferred over crystalloids as volume replenisher during surgeries as it remains in the vascular system for a longer duration and does not increase the risk of edema.
Global Analysis
North America dominates the global plasma derived medicine market owing to the rising prevalence of chronic disorders, increasing aging population susceptible to immune deficiencies, well-established healthcare infrastructure and high adoption of advanced therapeutics. The substantial healthcare spending and presence of key market players in the region furthering the growth.
The Asia Pacific region demonstrates the fastest growth and is expected to gain significant market share during the forecast period. This can be attributed to growing medical tourism, rising disposable income, increasing awareness about plasma derived therapies and expansion efforts of major companies in emerging nations. Additionally, the improving healthcare access and expanding patient pool of immune related and bleeding disorders drives the regional market.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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