Plasma Fractionation Market Overview
The global plasma fractionation market size is projected to witness significant growth in the coming years. This is due to the rising geriatric population that is prone to several rare diseases which require the utilization of plasma derivatives. In addition to this, the growing use of immunoglobulins in the medicinal area and increasing number of plasma collection centers around the world are also having a positive effect on the growth of the market.
The different product types of plasma fractionation are protein inhibitors, immunoglobulins, albumins, and coagulation factors. Among these, immunoglobulins accounted for the largest plasma fractionation market share in the past, owing to the growing prevalence of primary immunodeficiency diseases (PIDD). The treatment of PIDD is primarily depended on regular infusion therapy where immunoglobulins are involved in the treatment process. The albumins category is predicted to grow at the fastest pace in the near future, which is attributed to the increasing usage of these products in several drug formulations.
The various application areas of plasma fractionation are rheumatology, neurology, pulmonology, immunology, and hematology. Out of these, the neurology application dominated the plasma fractionation market in the past and is further expected to register the fastest growth in the coming years. This is because of the rising number of neurological disorders, the treatment of which require plasma fractionation. Apart from this, positive results have been obtained by the utilization on intravenous immunoglobulins for treating neurological diseases.
Geographically, the plasma fractionation market was led by North America in the past due to the surging prevalence of chronic diseases and rising utilization of immunoglobulin in different therapeutic areas. As per a report by the Centers for Disease Control and Prevention, approximately 400 babies are borne hemophilia A every year. China is predicted to grow at the fastest pace in the Asia-Pacific region in the coming years due to the presence of a large pool of patients, which is creating an increased demand for plasma fractionation products. In addition to this, the country is also witnessing a rise in the number of medical conditions which require plasma fractionation products.
Plasma Fractionation Market Dynamics
Drivers
One of the major driving factors for the plasma fractionation market growth is the increasing number of patients suffering from rare autoimmune diseases around the world. As per the facts by the National Institute of Environmental Health Science (NIEHS) in 2018, more than 23.5 million people in the U.S. are affected by rare autoimmune diseases. NIEHS also supports several clinical research institutes regarding how immunity and environmental factors work together in order to compromise the body’s ability to defend itself and develop autoimmune diseases. Moreover, National Toxicology Program by NIEHS is conducting research regrading the link between environmental triggers and genetic predisposition.
In addition to this, the surging prevalence of immunodeficiency diseases is also a key driving factor of the plasma fractionation market. Some examples of rare immune diseases which have a high prevalence rate, around the world, are immune thrombocytopenia purpura, multiple sclerosis, and PIDD. As per the reports of the Immune Deficiency Foundation, about 250,000 people were diagnosed with PIDD, in 2018.
Plasma Fractionation Market Competitive Landscape
The major players in the plasma fractionation market are increasingly focusing on the development of highly enhanced and technologically advanced products in order to increase their share in the industry. For example, Novoeight, a drug developed by Novo Nordisk and manufactured using the plasma fractionation method, was approved by the U.S. Food and Drug Administration in December 2018. This drug is utilized for treating patients suffering from hemophilia A.
Some of the other key players operating in the global plasma fractionation market are Japan Blood Products Organization, CSL Behring, Green Cross Corp., Octapharma AG, Bio Product Laboratory Ltd., Grifols International S.A., and Kedrion S.p.A.
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