The global plasma fractionation market accounted for $18,222 million in 2019, and is expected to reach $23,006 million by 2027, registering a CAGR of 6.2% from 2020 to 2027. In addition, plasma products are widely used in clinical research laboratories and hospitals. In addition, there are majorly two types of players that conduct plasma fractionation such as public players and private players. Moreover, public players include the companies which are non-profit government run bodies that fractionate plasma. Similarly, private players include the companies which earn profit by the sale of fractionated plasma products.
Fractionation is a mechanical process carried out to separate a certain quantity of mixture. Plasma is the liquid part of blood which is yellowish and holds blood cells. Plasma fractionation is carried out to separate high quality, proteinaceous products such as albumin and immunoglobulins. These derived products are known as plasma derivatives obtained from fractionation. Moreover, these products are used in various medical fields such as in neurology, hematology, critical care, and immunology. For instance, in critical care, plasma is prescribed to prevent and stop bleeding.
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Surge in geriatric population across the globe, which is predisposed to various rare diseases that require use of plasma derivatives is the major factor that boosts the market growth. Moreover, rise in use of immunoglobulins and alpha-1-antitrypsin in areas of medicine worldwide also fuels growth of the plasma fractionation market. Furthermore, surge in plasma collection centers worldwide is another major factor that contributes toward growth of this market.
In addition, favorable government support to spread awareness related to use of plasma derived products also fuels growth of the plasma fractionation market. However, fractionation is an expensive procedure, which includes collection of pooled blood from a large group of individuals. These individuals undergo screening to detect and avoid diseases, which can be transmitted through plasma. Furthermore, plasma-derived products are further screened post formulation to destroy any bacteria and viruses present in the product. These steps, in turn, make plasma derived products expensive which serves as a hindrance to the growth of the market. Conversely, growth potential in emerging economies is expected to create lucrative opportunities for the market growth during the forecast period.
Furthermore, there are advancements in processes, improved formulations, and increase in production efficiency. Advancement in technology leads to improved process of plasma manufacturing, hence leading to growth of the market The global plasma fractionation market is segmented on the basis of product, sector, and country. On the basis of product, the market is divided into albumin, immunoglobulins, coagulation factor VIII, and coagulation factor IX. By sector, the market is classified into public sector and private sector. By country, it is analyzed across Turkey, Russia, Korea, Kingdom of Saudi Arabia, Taiwan, Indonesia, Thailand, Malaysia, Canada, Vietnam and rest of the world.
The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.
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Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).
KEY BENEFITS FOR STAKEHOLDERS
– This report entails a detailed quantitative analysis along with the current global plasma fractionation market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessments.
– The market size and estimations are based on a comprehensive analysis of key developments in the industry.
– A qualitative analysis based on innovative products facilitates strategic business planning.
– The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market
– List of key players profiled in the report:
– Grifols SA
– Baxter International Inc
– CSL LTD.
– Bio Product Laboratory
– Octapharma AG
– Sanquin
– Laboratoire Franais Du Fractionnement Et Des Biotechnologies
– Kedrion
– Biotest
– Takeda Pharmaceuticals
– China Biologic Products
– China Biologic Products.
Key Market Segments
– By Product
o Albumin
o Immunoglobulin
o Coagulation Factor VIII
o Coagulation Factor IX
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– By Sector
o Public Sector
o Private Sector
– By Country
o Turkey
o Russia
o South Korea
o Saudi Arabia
o Taiwan
o Indonesia
o Thailand
o Malaysia
o Canada
o Vietnam
o Rest of the World
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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