Plasma Fractionation Market Forecast Estimated to Expand at a Robust CAGR by 2028

According to The Insight Partners’ research, the globalPlasma Fractionation Market was valued at US$ 26,575.83 million in 2021 and is likely to hit US$ 40,731.98 million by 2028, expanding at a stellar annual growth rate of 6.3% from 2021 to 2028. Rising applications of plasma therapy and active participation of the players in market development are the potential factors attributed to the market expansion.

The rise of new and prevalent diseases demands blood plasma therapy for treatment. Global market offers considerable potential to the players operating the plasma business. Due to positive market growth, both global and regional players are actively adopting organic and inorganic development strategies. In August 2021, Biotest AG commenced its 6th plasma collection center in the Czech Republic after receiving the operating license from national public health authority. In February 2020, a US-based private equity firm, Advent International Corporation, acquired a major stake in Bharat Serums and Vaccines to expand the latter’s offerings in domestic and global market. Such international developments by major market players foster the global plasma fractionation market.

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The use of blood plasma has become critical for the treatment of various chronic diseases. It consists of crucial components such as proteins, albumin, globulin, fibrinogen, clotting factors, and inhibitors and is widely used to treat blood cancer, COVID-19, atrial fibrillation, leukemia, and other diseases. Plasma is extracted from the donated blood by the fractionation process. The regulatory authorities are also approving plasma therapy for treatment procedures. In August 2020, US food and drug administration (FDA) issued emergency use authorization (EUA) for convalescent plasma treatment of COVID-19. A number of blood bank settings are established in several countries, funded by the government and other organizations.

However, the availability of non-plasma substitutes hurdles the growth of global automotive radar market.

Based on product, the market is split into immunoglobulin, albumin, coagulation factor concentrates, protease inhibitors, and others. With 62.58% market share, the immunoglobulin segment led the business in 2021. It generated US$ 15,320.44 million in 2021 and is estimated to garner US$ 24,080.24 million by 2028 to grow at 6.7% CAGR during 2021–2028.

According to the end-user, the global plasma fractionation market is bifurcated into hospitals & clinics, clinical research laboratories, and academic institutes. The hospitals & clinics segment dominated the market in 2021 with 81.5% of the total business share. It was evaluated at US$ 21,669.40 million in 2021 and is forecasted to be worth US$ 33,068.86 million by 2028, exhibiting a CAGR of 6.2% along the forecast period.

As per the application, the domain is arrayed into neurology, immunology, hematology, critical care, pulmonology, and others. The neurology segment held 35.7% market share, the highest in 2021. It was valued at US$ 9,497.67 million in 2021 and is foreseen to amass US$ 14,394.17 million by 2028 to rise at a CAGR of 6.1% for the forecast period.

From the regional point of reference, it has been observed that North America captured the highest business share in 2021. It accounted for US$ 9,484.91 million in 2021 and is supposed to be worth US$ 14,740.90 million by 2028, surging at a CAGR of 6.5% for the forecast period. Asia Pacific is growing rapidly at the highest CAGR of 7.1%. It was assessed at US$ 5854.65 million in 2021 and is projected to reach US$ 9,433.53 million by 2028.

Key players dominating the global plasma fractionation market are Biotest AG; Octapharma AG; Kedrion S.P.A.; CSL Limited; Grifols, S.A; Bio Products Laboratory Ltd; Sanquin; Bharat Serums and Vaccines Limited (BSV); SK Plasma; and PlasmaGen BioSciences Pvt. Ltd among others.

  • In April 2020, Octapharma collaborated with CSL, Takeda, BPL, Biotest, and LFB to investigate the possibility of treating COVID-19 with plasma-derived hyperimmune immunoglobulins.
  • In May 2021, Kedrion signed an agreement with Liminal BioSciences to divest the plasma collection and plasma-derived therapeutics business.
  • In April 2020, Grifols launched a 3ml vial of HyperRAB to treat postexposure prophylaxis for rabies. The vial already received approval from US FDA in 2019. In July 2020, the company acquired Green Cross plasma fractionation facility in Montreal and a plasma collection organization in the US for a total of US$ 460 million.
  • In May 2020, Bio Products Laboratory launched ALBUMINEX 5% and ALBUMINEX 25% with immediate supply in the United States.

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