Market Challenges And Opportunities

Global Blood Plasma Derivatives Market Drivers:

Rise in burden of genetic diseases to augment market growth

One of the key factors expected to augment growth of the global blood plasma derivatives market over the forecast period is the rise in burden of genetic diseases across the world. According to the World Health Organization (WHO), genetic disorders and congenital abnormalities occur in about 2%-5% of all live births, account for up to 30% of paediatric hospital admissions and cause about 50% of childhood deaths in industrialized countries. Moreover, genetic and congenital disease are responsible for a considerable proportion of perinatal and neonatal mortality across the globe. This in turn is driving the growth of the market.

Rising number of plasma collection centres to drive market growth

Another factor driving the growth of the global blood plasma derivatives market is the increasing number of plasma collection centres across the globe. For instance, in November 2021, Grifols, a leader in the development of plasma-derived therapies, announced the opening of its 300th plasma donor centre in the U.S. to help meet the urgent need for plasma. It is an important step forward in Grifols’ efforts to increase plasma collection in the greater New England area, as well as continue to expand awareness about the importance of plasma donations. Now, local residents will be able to donate and do their part to help enhance patients’ quality of life.

Global Blood Plasma Derivatives Market Opportunities:

High demand for blood plasma derivatives is expected to provide significant growth opportunities for players in the global blood plasma derivatives market. For instance, in October 2022, Takeda and United Nations Institute for Training and Research (ITAR) announced educational partnership with goal of creating an impartial platform where stakeholders from all sectors can come together to brainstorm solutions to address shortage of plasma and plasma-derived therapies. Each country will set up a platform to find a more sustainable way of plasma sourcing both locally and afar. This in turn is driving the growth of the market.

Growing geriatric (aging) population worldwide is expected to offer lucrative growth opportunities for players in the global blood plasma derivatives market. For instance, geriatric (aging) population is more susceptible to rare disorders, which in turn increase the use of plasma-based products for the treatment. Moreover, with the growing geriatric population, the burden of rare diseases is also increasing with a rapid pace worldwide. According to WHO, October 2022, by 2030, one in six people in the world will be aged 60 years or over., and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).

Global Blood Plasma Derivatives Market Restraints:

High cost of plasma therapy to hamper market growth

One of the key factors expected to hamper growth of the global blood plasma derivatives market is the high cost of treatment or therapy. For instance, the cost of blood plasma preparation is high due to the specialized and cumbersome manufacturing process. Average cost of immunoglobulins preparations is US$ 73.89 per gram, and the average cost of entire therapy cost is over US$ 10,000, depending on the severity of the diseases. In developing economies, the cost of therapy is a major barrier for the growth of the blood plasma derivatives market.

Side effects of plasma derivatives to hinder market growth

Another factor which is hampering the growth of the global blood plasma derivatives market is the side effects of plasma derivatives. Donating plasma does not cause any side effects, but some donors can experience fatigue, bleeding, bruising, or dehydration. Moreover, donor may feel dizzy or lightheaded. It's rare, but more serious infections or reactions can occur, which can be treated. Moreover, side effects such as dizziness, allergic condition, shortness in breath, and fast heartbeats are expected to hamper the growth of the market.