The increasing rate of autoimmune diseases, developments in immunology and haemostasis is driving the global plasma protein therapeutics market
The Plasma Protein Therapeutics market is expected to grow at a CAGR of 7.1% to reach $50.4 billion in 2030.
Covid-19 Impact & Market Status
Due to travel prohibitions and business closures, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various plants and factories has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide market. The plasma protein therapeutics market had also been severely impacted like most of the other markets and the rise of the market was hampered due to the reduced demand for plasma protein therapeutics during this period as everything came to a standstill.
Immunoglobulin segment to be in High Demand
The Plasma Protein Therapeutics Market is classified into coagulation, immunoglobulins, albumin, alpha-1 proteinase, hyperimmune globulins, C1-esterase inhibitor, others on the basis of product type. Among these, the immunoglobulin segment currently earns the highest revenue share in the market and is expected to continue in the same way during the analysis period due to the biologics' approval across numerous indications, convenience of administration, and treatment cost. Due to increased competition from recombinant and other long-term therapy, revenues of factor VIII are likely to fall.
Primary Immunodeficiencies segment to earn Highest Revenue
The Plasma Protein Therapeutics Market is classified into bleeding disorders, immunodeficiencies, neurology-immune mediated diseases, dermatology, other on the basis of application. The primary immunodeficiencies segment currently earns the highest revenue share in the market and is expected to continue in the same way during the analysis period due to the increasing expansion of immunoglobulin clinical uses, approval of SCIGs, and high treatment costs. More than 200 rare, chronic disorders caused by immune system defects are classified as primary immunodeficiency diseases.
North America to Dominate the Market
North America currently earns the highest revenue share in the market and is predicted to continue in the same way during the analysis period due to the presence of a large patient base, a growing geriatric population, and the availability of well-developed infrastructure for storing and keeping high-quality source plasma. Other significant elements driving regional growth are increased acceptance of innovative treatments and rising disease prevalence.
Asia Pacific is predicted to rise at the rapid pace during the analysis period due to the region’s significant demand and utilisation of the substance. Furthermore, factors such as rising demand for sophisticated treatment alternatives, growing economies, and rising per capita income are expected to provide development opportunities for emerging market players over the analysis period.
The global plasma protein therapeutics market rise is also expected to be aided by factors like the rise in the global geriatric population, as the old are more susceptible to neurological problems.
Plasma protein therapeutics are used to treat rare and chronic diseases. Plasma protein therapeutics are also used in everyday medicine, emergencies, and surgical medicine as well as preventive medicine to treat animal bites, burns, hepatitis, prediatric HIV, liver conditions, shock, trauma, and other such medical conditions.
Plasma proteins are commonly employed in replacement therapy to treat disorders like coagulation factor deficiency in the field of hemostasis. This deficit can be inherited or caused by an autoimmune disease. Fibrinogen is used to treat hemorrhagic diathesis in patients with dysfibrinogenemia, afibrinogenemia, or hypofibrinogenemia.
The global plasma protein therapeutics market is expected to rise at a rapid pace to about USD 43.5 billion by 2029 during the analysis period at a CAGR of 6.98 percent.
The market is influenced by the increasing demand for new plasma-derived therapies in the treatment of various chronic diseases especially among the elderly population. Also, a lot of research and development is being done in this market to provide more modernised and effective treatment procedures. Furthermore, the industry is being boosted by trends toward detecting diseases at an early stage by diagnosing as soon as possible.
However, the stringent regulations regarding the processing of plasma protein products and the absence of effective reimbursement policies, infections and other risks, lack of quality measures are the major restraints of the global plasma protein therapeutics market.
Furthermore, plasma protein industry developing a large range of products, technological innovations, evidence based therapeutics coming in the market, continuing role for these medicines in modern therapeutics is anticipated to be a growth opportunity to the global plasma protein therapeutics market.
The major players in global plasma protein therapeutics market are ADMA biologics, Kedrion bio Pharma, OCTA Pharma, Pfizer, Grifols, S.A., Bayer, Biotest, Takeda Pharmaceutical, Baxter International, and SL Behring among others.
Latest Innovations in the Global Plasma Protein Therapeutics Market: A Snapshot
- Biotest became the first plasma protein company in Germany to create an experimental hyper immunoglobulin preparation against COVID-19 in February 2021. The CoVIg-19 Plasma Alliance's purpose is to work together to develop a prospective COVID-19 hyperimmunoglobulin that each member may generate in their own facilities and then make available after approval.
Plasma Protein Therapeutics Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||US$32.8 Billion|
|Growth Rate||CAGR of 4.6% during 2021-2028|
|Segment Covered||Product Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||Takeda Pharmaceutical Company Ltd, Shire PLC, Kedrion, Baxter International, CSL Behring, Grifols Therapeutics, Octapharma Inc, Abeona Therapeutics, ADMA Biologics, Amag Pharmaceuticals, Antares Pharma, BioDelivery Sciences, Bio Products Laboratory, Biota Pharmaceuticals, Biotest Pharmaceuticals, China Biologic Products.|
Key Segments of the Plasma Protein Therapeutics Market
Product Type Overview, 2019-2029 (USD Billion)
- Alpha-1 Proteinase
- Hyperimmune Globulins
- C1-Esterase Inhibitor
Application Overview, 2019-2029 (USD Billion)
- Bleeding Disorders
- Neurology-Immune Mediated Diseases
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa