Global Plasma Fractionation Market Size, Share, Growth Analysis, By Product, By Method, By Application, By End Use - Industry Forecast 2024-2031

Global plasma fractionation market size was valued at around 30.87 billion in 2022 and is expected to rise from USD 33.43 billion in 2023 to reach a value of USD 63.27 billion by 2031, at a CAGR of 8.3 % over the forecast period (2024-2031).

Convalescent plasma witnessed heightened demand during the COVID-19 pandemic as doctors utilized it as an initial treatment for virus-infected patients. For example, according to a June 2021 Frontiers paper, convalescent plasma was extensively employed worldwide to treat hospitalized COVID-19 patients and mitigate disease progression. Studies have indicated that convalescent plasma transfusion is associated with improved symptomatology and virus clearance, leading to an initial surge in the need for plasma fractions to treat COVID-19 patients. However, as the pandemic waned and fewer individuals contracted the virus, the analyzed market is expected to witness steady growth over the study's forecast period. Several specific factors are fueling the expansion of the market. These include the increasing utilization of immunoglobulins across various therapeutic domains, the expanding elderly population, coupled with the rising incidence of rare diseases, and the proliferation of plasma collection facilities globally. For instance, according to WHO statistics from October 2022, the proportion of individuals worldwide aged over 60 is projected to nearly triple by 2050, with a significant portion of the elderly population residing in low- and middle-income countries. Furthermore, various initiatives undertaken by major market players, including product launches, partnerships, mergers, and acquisitions, aimed at introducing advanced plasma fractionation methods and products to the market, are expected to contribute positively to market expansion. For instance, in January 2022, Octapharma received authorization to expand the use of Cutaquig in the European Union (EU). Cutaquig, a subcutaneously administered human immunoglobulin, offers flexible therapeutic options for numerous patients with inherited immune deficiencies. Overall, the projected rise in the elderly population, coupled with an increase in the prevalence of rare diseases, the proliferation of plasma collection centers, and various initiatives by major market players, are all anticipated to positively impact market growth during the forecast period. However, the industry faces constraints such as stringent regulations governing the processing of plasma protein products, high pricing, and reimbursement challenges.

Top-down and bottom-up approaches were used to estimate and validate the size of the global plasma fractionation market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Plasma Fractionation Market Segmental Analysis

The global plasma fractionation market is segmented based on product, method, application, end use, and region. By product, the market is segmented into albumin, immunoglobulins, coagulation factors, protease inhibitors. By method, the market is segmented into centrifugation, depth filtration, and chromatography. By application, the market is segmented into neurology, hematology, oncology, immunology, and pulmonology. By end use, the market is segmented into hospitals & clinics, clinical research, and others. By region, the market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Drivers of the Global Plasma Fractionation Market

The aging population significantly drives the plasma fractionation market. As individuals age, they become more susceptible to chronic illnesses and necessitate medical interventions, which often include plasma-derived products. This growing demographic of elderly individuals contributes to the increasing demand for plasma fractionation products as healthcare providers seek to address the healthcare needs associated with aging populations.

Restraints in the Global Plasma Fractionation Market

The high cost of plasma fractionation products poses a significant restraint on market growth. Manufacturing these products involves substantial expenses, rendering them unaffordable for certain patients and healthcare systems. This cost barrier limits access to these crucial treatments and hampers the overall growth potential of the market.

Market Trends of the Global Plasma Fractionation Market

Immunoglobulins serve as the primary treatment for various immunologic, hematologic, and neurologic conditions. Technological advancements in the past decade have led to increased diagnoses of immunological disorders. Consequently, there is a growing clinical demand for immunoglobulins, driven by the expanding genetic research aimed at defining and diagnosing immunodeficiency disorders. According to IG Living, a publication for the immune globulin (IG) community, immunoglobulins are utilized for numerous on- and off-label indications, with off-label uses comprising a significant portion, ranging from 20% to 60%, of their clinical application. Notably, the use of immunoglobulins for off-label purposes has surpassed their on-label applications in recent years. Furthermore, the prevalence of rare and autoimmune diseases, coupled with increased global research in immunology, is propelling the market's growth. According to the National Center for Advancing Translational Sciences, only a fraction of the 7,000 to 10,000 rare diseases identified have any form of treatment, indicating a vast unmet medical need. The surge in the incidence of rare disorders is contributing to the expansion of the immunoglobulin market, as these conditions necessitate ongoing treatment and management with immunoglobulin therapy.