Market Overview:
The plasma fractionation market is projected to reach USD 34.9 billion by 2024 from USD 25.4 billion in 2019, at a CAGR of 6.6% during the forecast period. The plasma fractionation market is largely driven by the growing use of immunoglobulins in various therapeutic areas, increase in plasma collection (and the number of plasma collection centers), and the increasing use of alpha-1-antitrypsin. However, the high cost of plasma products, limited reimbursements, and the emergence of recombinant alternatives are expected to restrain the growth of this market during the forecast period.
The Von Willebrand factor segment is expected to grow at the highest CAGR during the forecast period.
The plasma fractionation market is projected to reach USD 34.9 billion by 2024 from USD 25.4 billion in 2019, at a CAGR of 6.6% during the forecast period. The plasma fractionation market is largely driven by the growing use of immunoglobulins in various therapeutic areas, increase in plasma collection (and the number of plasma collection centers), and the increasing use of alpha-1-antitrypsin. However, the high cost of plasma products, limited reimbursements, and the emergence of recombinant alternatives are expected to restrain the growth of this market during the forecast period.
The Von Willebrand factor segment is expected to grow at the highest CAGR during the forecast period.
Based on type, the Von Willebrand factor segment is expected to show the fastest growth in the coagulation factor concentrates market during the forecast period. The growth of this market can be primarily attributed to the increasing prevalence and diagnosis of the Von Willebrand disease and hemophilia across the world.
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North America dominated the plasma fractionation market in 2018; this trend is expected to continue during the forecast period.
Geographically, the plasma fractionation market has been studied for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to dominate the plasma fractionation market during the forecast period. Growth in North America is primarily driven by the growing use of immunoglobulin in various therapeutic areas, growing geriatric population, and the increasing prevalence of respiratory diseases and AATD. Furthermore, several innovations in manufacturing processes (e.g. improvement of yield), product developments (e.g. such as subcutaneous IG, IVIg 10% concentration, and IVIg liquid presentation), presence of advanced virus removal technologies (such as nanofiltration), and the development of newer plasma products such as ceruloplasmin and IgA are also supporting the growth of the plasma fractionation market in these regions.
Key Market Players
Major players in the global plasma fractionation industry include CSL (Australia), Grifols (Spain), Shire (Ireland), Octapharma (Switzerland), Kedrion (Italy), BPL (UK), Sanquin (Netherlands), LFB (France), Biotest (Germany), Japan Blood Products Organization, China Biologic Products (China), Green Cross Corporation (South Korea), and Shanghai RAAS Blood Products (China). Geographic expansions and collaborations are the key strategies undertaken by these companies to maintain their positions in the market.
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