PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320131
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1320131
Plasma Expander Market size was valued at USD 44,532.2 Million in 2022, expanding at a CAGR of 5.7% from 2023 to 2030.
A plasma expander is a medical device that expands blood volume in the circulatory system. They are used to increase venous pressure and reduce or prevent post-operative or post-illness (such as heart attack, liver disease) shock. This can be necessary due to low oxygen saturation of cell tissues which decreases the supply of nutrients such as glucose and oxygen throughout the body.
The increasing prevalence of cardiovascular diseases in the aging population, coupled with an increase in the incidence rates for chronic disorders such as hypertension and diabetes is driving growth. Shortage of human albumin owing to unfavorable weather conditions in some countries such as Brazil and Argentina is expected to foster growth
The Global Plasma Expander Market is segmented on the basis of Product Type, End User, and Region.
The market is divided into six categories based on Product Type: Dextar, Alkaline Hydroxyethyl Starch, Human Albumin, PEGylated Albumin, Polyvinylpyrrolidone (PVP) nd Gelatin. In 2023, the Alkaline Hydroxyethyl Starch method is anticipated to capture a significant market share. Hydroxyethyl starch, a type of plasma expander, is derived from sources such as corn, wheat, and potato. Its mechanism of action involves binding to water within the bloodstream, resulting in an increased blood volume. This, in turn, helps raise blood pressure and prevents the onset of shock. As hydroxyethyl starch absorbs fluid from the body, it expands, providing additional time for treatments like chemotherapy or surgery to take effect before anemia occurs. By maintaining an adequate blood volume, hydroxyethyl starch supports the body's ability to withstand these treatments and reduces the risk of complications associated with low blood volume.
The market is divided into three categories based on End User: Online Pharmacies, Retail Pharmacies, Hospital Pharmacies. Among these sectors, Hospital Pharmacies is projected to hold the largest share and experience significant growth during the forecast period. Plasma expanders are specifically used to address hypovolemia by increasing blood volume in patients in Hospitals. They are administered before surgery or during an operation to compensate for lost blood and fluids. Notably, plasma expanders have the advantage of being storable at room temperature since they are not considered bio-hazardous. This characteristic simplifies storage and handling requirements, making them more convenient for hospital and medical facilities and reducing logistical challenges.
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
In order to gain a significant market share in the Plasma Expander market, companies are adopting various strategies. Companies are also forming strategic partnerships and collaborations to leverage expertise and resources. Additionally, they are actively engaging with governments and participating in policy discussions to shape the regulatory environment and secure supportive frameworks for Plasma Expander. Market expansion is pursued through the establishment of supply chains, infrastructure development, and investment in production facilities.
In March 2021, Grifols acquired 25 U.S.-based plasma centers from BPL ensuring one million additional liters for fractionation. This acquisition aligns with the company's global expansion and strategy to diversify its plasma supply. As a prominent industry leader with a presence in 344 plasma centers across the globe, this transaction adds to their portfolio, specifically increasing their footprint to 289 centers in the U.S. and 55 centers in Europe. The company aims to strengthen its position by expanding its operations internationally and diversifying its plasma supply sources. This strategic move allows them to tap into new markets and enhance their ability to meet the growing demand for plasma products worldwide.
The scope of this report covers the market by its major segments, which include as follows: