Press Release Description
Booming Geriatric Population to Propel the Plasma Fractionation Market
The Global Plasma Fractionation Market is projected to grow at a CAGR of around 7.1% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The growing global geriatric population has led to a significant upsurge in the prevalence of conditions such as immunodeficiency & neurological disorders, which necessitate the usage of plasma-derived therapies. This increase in the elderly demographic is closely linked to improved healthcare infrastructure & longevity in countries like China & Japan. Consequently, the rising number of elderly patients has generated a heightened demand for plasma-derived therapeutic products, emphasizing immunoglobulins & coagulation factors in recent years.
Further, in response to this surging global demand, specialized plasma fractionation companies have taken proactive steps to expand their plasma therapy manufacturing capabilities. By embarking on strategic initiatives at a global level, these companies are better positioned to cater to the increasing treatment needs, thereby significantly contributing to the positive expansion of the market.
Additionally, the demand for plasma-derived therapy has been steadily rising due to the prevalence of rare disorders affecting the worldwide population. Among these rare disorders are conditions such as factor XIII deficiency & Thrombotic Thrombocytopenic Purpura (TTP), where plasma-derived therapeutic products play a crucial role in treatment. This advancing demand for plasma-derived therapies for rare diseases has prompted various companies, including Grifols and Takeda, to innovate & develop new products for treatment.
To meet the increasing need for plasma fractionated medications, companies are adopting cutting-edge technologies to optimize their manufacturing procedures and boost output. Thus, the substantial investments made worldwide to improve plasma fractionation technology and develop highly efficient plasma-fractionated drugs for diverse population groups are expected to significantly bolster market growth in the upcoming years, further stated the “Global Plasma Fractionation Market Analysis, 2024.”
Global Plasma Fractionation Market Segmentation Analysis
Neurology to Dominate the Global Plasma Fractionation Market
Based on the application, the market is further bifurcated into Neurology, Immunology, Hematology, Critical Care, Pulmonology, Rheumatology, and Others (Oncology, Pediatrics, etc.). Of these, the Neurology segment has emerged as a significant driver of demand in the Plasma Fractionation Market, primarily due to the rapid & effective response provided by Intravenous immunoglobulins (IVIG). IVIG has proven to be exceptionally beneficial in the treatment of both peripheral and central nervous system disorders, offering advantages over steroids and oral immunosuppressants.
This segment's growth is further propelled by the increasing incidence of neurological diseases and related mortalities, underlining the need for effective treatment methods. Hence, the companies started to focus on research & development in plasma-fractionated drugs tailored for neurological disorder treatment.
North America to Influence Global Plasma Fractionation Market
North America holds a strong position in the Plasma Fractionation Market. The heightened awareness of the numerous benefits of plasma-based therapies, especially among the populations in the US and Canada, as well as the increasing incidence of respiratory disorders, have driven the demand for plasma-derived treatments.
Furthermore, the North America Plasma Fractionation Market's growth can be attributed to the existence of key industry players, an increasing network of plasma collection centers, and a robustly established supply chain for plasma collection and distribution.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Biotest A.G., Octapharma A.G., Adma Biologics, Aegros, CSL Limited, Grifols S.A., Kedrion Biopharma Inc., Bio Products Laboratory Ltd, Takeda Pharmaceuticals, Emergent Bio Solutions, Intas Pharmaceutical, Plasma Gen Biosciences, S K Plasma, Australian Red Cross Lifeblood, and Others, are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the Global Plasma Fractionation Market?
- What key factors would propel and impede the industry across the globe?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various regions?
- How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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