This study involved four major activities in estimating the current size of the plasma fractionation market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Expected Revenue Growth in Plasma Fractionation Market:
[278 Pages Report] The global plasma fractionation market size is projected to reach USD 39.5 billion by 2025 from USD 28.6 billion in 2020, at a CAGR of 6.7% during the forecast period. Market growth is driven mainly by factors such as growing use of immunoglobulins in various therapeutic areas, increase in plasma collection (and the number of plasma collection centers), rising geriatric population and the growing prevalence of respiratory diseases and alpha-1-antitrypsin deficiency (AATD). However, the high cost of plasma products, limited reimbursements, and the emergence of recombinant alternatives are expected to restrain the growth of this market to a certain extent during the forecast period.
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In 2019, the immunoglobins segment accounted for the largest share of the plasma fractionation market
Based on product, the plasma fractionation market is segmented into immunoglobulins, coagulation factor concentrates, albumins, protease inhibitors, and other products. Immunoglobulins accounted for the largest share of the global plasma fractionation market in 2019. The large share of this segment is primarily attributed to the rising prevalence of neurological and immunological diseases, increasing off-label indications of IVIg, and growing use of SCIg due to its ease of administration and reduced administration time.
Global Plasma fractionation Market Dynamics
DRIVER: Growing use of immunoglobulins in various therapeutic areas
Immunoglobulins are used as first-line therapy for various neurologic, immunologic, and hematologic conditions. The most common use of immunoglobulin therapy is for the treatment of primary immune deficiencies and chronic inflammatory demyelinating polyradiculoneuropathy (CIDP). Intravenous immunoglobulin (IVIg) is also being considered for a range of neurological diseases, including multiple sclerosis, neuropathic pain, and chronic fatigue syndrome.
In the last decade, the diagnosis rate of various immunological diseases has increased due to technological advancements. In addition, growing genetic research for characterizing and diagnosing immunodeficiency will increase the clinical need for immunoglobulins due to the increased number of diagnosed patients.
RESTRAINT: Emergence of recombinant alternatives
In the last few years, many recombinant alternatives have been developed for various plasma-derived products, such as factor VIII, factor IX, von Willebrand factor, fibrinogen concentrates, antithrombins, and protease inhibitors. In developed countries, recombinant factors VIII and IX are increasingly being used as an alternative to plasma-derived factors VIII and IX in bleeding disorders. These recombinant products are used prophylactically and are less immunogenic than plasma-derived products. In addition to these, there are a few more longer-acting replacement factors in the development pipeline. These products would provide significant benefits, such as less-frequent administration and greater effectiveness in prophylactic use. The increasing use of recombinant factors and their increased use in prophylactic therapies is thus a major factor limiting the adoption of plasma products.
OPPORTUNITY: Rising prevalence of bleeding disorders
Hemophilia or hematology disorders form one of the major application areas of plasma fractionation products. Hemophilia is a hereditary bleeding disorder characterized by impaired blood coagulation due to deficiencies in the production or function of coagulation factor VIII. According to the World Federation of Hemophilia, the number of hemophilia patients worldwide was 167,110 in 2011, which increased by 25.9% to 210,454 in 2018. Only 30% of patients are actually diagnosed with hemophilia, and 25% of them receive treatment. The rest of the people with hemophilia remain undiagnosed, and nearly 75% of patients receive inadequate treatment or no treatment at all.
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Key Players In Plasma Fractionation Market:
Include CSL (Australia), Grifols (Spain), Shire (Ireland), Octapharma (Switzerland), Kedrion (Italy), and BPL (UK), Sanquin (Netherlands),