How Will The Plasma Fractionation Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s plasma fractionation market report forecasts the plasma fractionation market size to grow to $40.68 Billion by 2027, with a CAGR (compound annual growth rate) of more than 9%.
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Plasma Fractionation Market Size Forecast
The global plasma fractionation market is expected to grow from $26.18 billion in 2022 to $28.61 billion in 2023 at a compound annual growth rate (CAGR) of 9.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The plasma fractionation market size is expected to grow to $40.68 billion in 2027 at a CAGR of 9.2%.
North America held the largest plasma fractionation market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Plasma Fractionation Market Driver – Increase In Number Of Chronic Diseases
Chronic disease prevalence is expected to rise by 57% by 2021, according to the World Health Organization, a Swiss-based health promotion organisation. These diseases kill 41 million people each year, accounting for 71% of all deaths worldwide, according to data from April 2021. As a result of the rising prevalence of chronic diseases, the market for healthcare analytical testing services is expanding. As a result, the rising prevalence of chronic diseases among people of all ages is expected to propel the plasma fractionation market forward.
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Key Plasma Fractionation Market Trend – Technological Advancement
Major market players are introducing new technologies such as HYCON that work on self-cleaning and fully automatic separators to maintain their market position. GAE, a German company that manufactures systems for the pharmaceutical industry, for example, will launch HYCON, a fully automatic separator, in June 2021. In clean room applications, this enables one-touch production of blood plasma and plasma proteins. The fully automatic, self-cleaning separator improves hygienic conditions, cross-contamination prevention, and batch safety.
Plasma Fractionation Market Segment
1) By Product: Immunoglobulins, Coagulation Factors, Albumin, Protease Inhibitors
2) By Application: Immunology, Hematology, Neurology, Critical Care, Hemato-Oncology, Rheumatology
3) By End User: Hospitals and Clinics, Clinical Research Laboratories, Academic Institutes
Plasma Fractionation Market Major Players and Strategies
Major players in the plasma fractionation market are Baxter International Inc., Bio Products Laboratory, Biotest AG, CSL Limited, Grifols S.A, Kedrion S.p.A, LFB S. A., Octapharma AG, Sanquin Blood Supply Foundation, Takeda Pharmaceutical Company Limited, Chinese Biological Products Inc., Japan Blood Products Organization, Green Cross Corporation, and Intas Pharmaceuticals Ltd.
Grifols S.A., a Spanish pharmaceutical and chemical product manufacturing company, paid $ 317.03 million for Biotest AG in April 2022. (EUR 318 million). Grifols would be able to: improve patient access to plasma medicines; accelerate and expand its product line; own the largest private European network of plasma facilities with 87 locations; drive revenue growth and profitability expansion; enhance and accelerate the advancement of R&D projects; and achieve higher revenue and supply balance across geographies for plasmaprotein-based medicines through this acquisition. Biotest AG is a plasma protein and biotechnology company based in Germany that is a pioneer in clinical immunology and cutting-edge haematology.
The Plasma Fractionation Global Market Report 2023 covers regional data on plasma fractionation market size, plasma fractionation market trends and drivers, opportunities, strategies, and plasma fractionation market competitor analysis. The countries covered in the plasma fractionation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Plasma fractionation is a sequential and integrated process that combines manufacturing procedures to isolate crude fractions that are then refined into specific medicinal products.
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