PUBLISHER: Allied Market Research | PRODUCT CODE: 1298243
PUBLISHER: Allied Market Research | PRODUCT CODE: 1298243
The global plasma protein therapeutics market was valued at $26.5 billion in 2021, and is projected to reach $44.3 billion by 2031, growing at a CAGR of 5.2% from 2022 to 2031.
Plasma protein therapeutics are a subcategory of biopharmaceuticals made from human blood plasma and are used to treat a range of diseases. Natural components called plasma proteins are present in blood and are essential for preserving good health and preventing disease. Various compounds, such as immunoglobulin, clotting factors, albumin, and other specialized plasma proteins, are included in the category of plasma protein therapies. These medicines are used to treat a range of illnesses, such as Kawasaki disease, immunological deficiencies, blood problems, liver ailments, autoimmune diseases, and neurological disorders such as chronic polyneuropathy.
The market for plasma protein therapeutics is driven by factors such as an increase in the prevalence of chronic diseases with unmet needs, rise in an aging population, and advancements in protein therapies technology and rise in R&D in the plasma protein field. The demand for these products is expected to continue to grow due to an increase in the incidence of chronic immunological diseases, particularly in developing countries. In addition, new product development and new product approval are significant drivers of growth for the plasma protein therapeutics market. For an instance, in February 2020 CSL Behring announced that the U.S. Food and Drug Administration (FDA) has granted Privigenne (Immune Globulin Intravenous (Human),10% Liquid) orphan-drug designation as an investigational therapy in the treatment of Systemic Sclerosis (SSc). Moreover, market growth is also driven by market participants forming strategic alliances and working together with universities, research facilities, and other organizations. Furthermore, companies are acquiring smaller players to expand their product portfolio, increase their market presence, and gain access to new markets. Thus, the rise in adoption of strategies by key market players, such as mergers and acquisitions, product innovation, and expanding distribution networks, is driving the growth of the plasma protein therapeutics market.
There is an increase in the demand for plasma protein therapeutics as patients and medical professionals prefer more effective and specific treatments for a variety of diseases, including immunological disorders and autoimmune disorders. They offer a variety of advantages over traditional treatment, including improved efficacy, fewer side effects, and the ability to target specific disease-related molecules.
In addition, plasma protein therapeutics have been gaining significant attention in recent years due to their potential to treat a wide range of medical conditions, including immune disorders, and bleeding disorders. Rise in demand for advanced therapeutics, as patients and healthcare professionals look for more effective and focused therapies for various diseases also drives the market growth.
However, stringent guidelines for storage, testing, and collection from donors, of plasma is expected to restrain the growth of the plasma protein therapeutics market. On the other hand, development of targeted plasma protein therapies that can be used to treat specific disorders has been made possible by modifications in analytical and diagnostic technologies. Research and technological advancements have made it possible to create novel plasma protein therapies that improve patient outcomes. Thus, technological advancements in the field of plasma protein therapeutics offer a significant opportunity for market growth.
The plasma protein therapeutics market is segmented into product type, application, end user and region. By product type, the market is categorized into immunoglobulin, albumin, plasma factor derived VIII, and others. By application, the market is segregated into hemophilia, idiopathic thrombocytopenic purpura , primary immunodeficiency, and others. By end user, the market is categorized into hospitals and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global plasma protein therapeutics market are: ADMA Biologics Inc, Bayer AG, Bio products laboratory, Baxter International, CSL Limited, Grifsols, Kedrion SpA, Octapharma USA Inc, Taibang Biological Group Co. Ltd, and Takeda Pharmaceutical Company Limited.