PLASMA FRACTIONATION MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

Plasma Fractionation Market Analysis:

The plasma fractionation market under study is expected to experience a Compound Annual Growth Rate (CAGR) of approximately 8.76% during the forecast period. The demand for convalescent plasma increased during the COVID-19 pandemic, as doctors initially treated patients affected by the virus with this plasma. According to an article published by Frontiers in June 2021, convalescent plasma was widely used worldwide to treat patients hospitalized with coronavirus and prevent disease progression. Studies have shown that convalescent plasma transfusion contributes to improved symptomatology and viral clearance. Therefore, there was an increasing need for plasma fractions to treat COVID-19 patients initially. As the pandemic has subsided and fewer people are getting infected with the virus, the studied market is expected to have stable growth during the forecast period of the study.

Several factors are driving the growth of the market, including the growing use of immunoglobulins in various therapeutic areas, the rising geriatric population coupled with the increasing prevalence of rare diseases, and the increasing number of plasma collection centers worldwide. According to the World Health Organization (WHO) facts of October 2022, the global population proportion aged 60 and up will nearly double by 2050. By 2050, 80% of the world’s elderly will live in low- and middle-income countries and are also said to be aging much faster than in the past. Hence, with the rising geriatric population, the burden of rare diseases is also expected to increase worldwide, increasing the adoption of plasma fractionation products and thus driving the growth of the studied market. Furthermore, according to an article updated by NCBI in August 2022, Von Willebrand’s disease is estimated to affect approximately 1% of the population globally. Still, clinically significant disease prevalence is estimated to be about 125 per million, with severe disease affecting up to five per million. Therefore, the rising geriatric population coupled with the increasing burden of rare diseases like Von Willebrand is anticipated to drive the demand for plasma fractionation products, thereby boosting the market growth.

Additionally, the increasing number of plasma collection centers worldwide is also a significant factor in the growth of the studied market. For instance, in April 2022, Bio Products Laboratory Ltd (BPL), a leading manufacturer of plasma-derived protein therapies, opened its 29th plasma donation center. Furthermore, in October 2022, Freedom Plasma opened its fourth plasma donation center in Ohio, US. Therefore, opening new plasma centers worldwide is expected to increase the production of plasma-based products, thus enhancing market growth.

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