PLASMA EXPANDER MARKET ANALYSIS

Global plasma expander market size was valued at US$ 6.96 Bn in 2023 and is projected to reach US$ 15.9 Bn by 2030, by exhibiting a compounded annual growth rate (CAGR) of 12.5% from 2023 to 2030.

The market growth of the global plasma expander market is driven by the increasing prevalence of chronic diseases, rising number of surgeries, and growing demand for blood plasma-derived products. The increasing government funding for public hospitals and the rising complexity of surgeries are also expected to drive the market growth of the global plasma expander market.

Global Plasma Expander Market Regional Insights

• North America is the largest market for plasma expanders, which accounted for 35.1% of the global market share in 2022. This is due to the constantly increasing inorganic growth strategies such as acquisition in the region, as well as the presence of a large number of key market players. For instance, Grifols a pharmaceutical company acquired seven U.S. plasma donation centers from Kedrion. U.K for US$ 55.2 Mn . This seven donation centers are authorized by the U.S. Food and Drug Administration (FDA) and European healthcare authorities. Through this center, Grifols gain immediate access to the plasma obtained in these centers, which is approximately 240,000 liters per year.
• Europe is the second-largest market for plasma expanders, which accounted for 25.4% of the global market share in 2022. The market growth is driven by the increasing demand for plasma expanders in the critical care setting, as well as the rising prevalence of cardiovascular diseases in the region.
• Asia Pacific is the third-largest market for plasma expanders, which accounted for 22.5% of the global market share in 2022. The market growth is driven by the rising prevalence of chronic diseases and trauma in the region, as well as the increasing investment in healthcare infrastructure.

Figure 1. Global Plasma Expander Market Share (%), By Region, 2023

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Analyst’s View of the Global Plasma Expander Market:

• Global plasma expander market is expected to witness steady growth over the forecast period due to the increasing number of trauma cases and surgeries worldwide. Growing prevalence of chronic diseases that require plasma therapy will further aid the market expansion. North America  dominates the market, however, emerging regions such as Asia Pacific will exhibit highest growth rate during the same period.
• Rise in aging population which is prone to chronic ailments that is coupled with rising healthcare expenditures across developing nations are some of the key drivers of this market. Hospitals are increasingly adopting plasma volume expanders during surgery to improve patient outcomes, thus ensuring steady demand in the near future. However, certain risks associated with plasma expanders like allergic reactions and pulmonary edema may restrain market growth to some extent.

Global Plasma Expander Market Drivers

• Rising prevalence of chronic diseases: Chronic diseases, such as cardiovascular disorders, kidney diseases, and liver diseases are becoming increasingly prevalent worldwide. Patients with these conditions often require surgical procedures or ongoing medical interventions, which may involve the use of plasma expanders to manage fluid volume. For instance, in September 2020, according to an article published by Preventing Chronic Disease states that, in 2018, 51.8% of civilian, adults had been diagnosed with at least 1 of 10 selected chronic conditions. More specifically, 24.6% of adults have 1 chronic condition, and 27.2% have more than two chronic conditions.
• Trauma and emergency cases: Trauma cases resulting from accidents or injuries require immediate medical attention and often involve significant blood loss. Plasma expanders are used to replace lost blood volume and stabilize patients in emergency situations. The growing number of trauma cases globally is driving the demand for plasma expanders. For instance, in July 2023, according to article published by PubMed Central by Marin Health Medical Center in U.S., there was a 13% increase in trauma patients presented during the study period in 2020 as compared to 2019, and the total number of trauma patients as a percentage of total Emergency Department (ED) patients also increased by 269 out of 9235.
• Increasing surgical procedures: The rising number of surgical procedures, including organ transplants, cardiovascular surgeries, and trauma cases, is a significant driver for the plasma expander market. Plasma expanders are commonly used during surgeries to maintain blood volume and prevent hypovolemia.

Global Plasma Expander Market Opportunities

• Emerging markets: There is a significant opportunity for global plasma expander market growth in emerging markets, particularly in developing countries with improving healthcare infrastructure. These regions often experience a growing demand for surgical procedures and trauma care, which drives the need for plasma expanders. As healthcare systems in these markets continue to evolve, there is an increasing opportunity for market players to penetrate these regions and address the unmet needs.
• Product innovation: There is a continuous need for innovative plasma expanders that offer improved properties, such as extended shelf life, reduced adverse reactions, and provides compatibility with a wide range of blood types. Companies investing in research and development (R&D) to develop novel plasma expanders, have the opportunity to gain a competitive advantage and capture a larger market share. Moreover, incorporating advanced technologies, such as nanotechnology or biocompatible materials, can open up new avenues for product development.
• Customized solutions: The demand for personalized medicine is growing across various healthcare sectors. In the global plasma expander market, there is an opportunity to develop customized solutions for the specific patient populations or medical conditions. Customized plasma expanders can provide optimized outcomes and improved patient safety, thereby addressing individual patient needs more effectively.
• Home healthcare settings: With the increasing focus on home healthcare and patient self-management, there is an opportunity to develop plasma expanders that can be administered outside traditional healthcare settings. This includes the development of user-friendly packaging, easy-to-use administration devices, and stable formulations that can be stored and used at home. With expansion into the home healthcare market, it can provide convenience for patients and reduce the burden on healthcare facilities.

Global Plasma Expander Market Trends

• Increasing adoption of synthetic plasma expanders: Synthetic plasma expanders, such as hydroxyethyl starch (HES) and gelatin-based expanders have gained popularity due to their longer shelf life, consistent supply, and reduced risk of transmitting infectious diseases as compared to human plasma-based expanders. The market is witnessing a shift towards synthetic plasma expanders, which is driven by the need for safe and readily available alternatives. For instance, in 2020, a survey of 100 hospitals was conducted by the American Hospital Association, in U.S. revealed that, 96% of the hospitals primarily stock and use synthetic plasma expanders for resuscitation and emergency care. The reliance on blood plasma-derived products decreased from an average of 35% of total plasma expander usage in 2015 to just 8% in 2020. In 2022, according to a report published by the European Monitoring Centre for Drugs and Drug Addiction, a similar trend was observed among hospitals in the European Union that showed the massive shift towards synthetic options which provided a more reliable and secure choice.
• Preference for colloidal plasma expanders: Colloidal plasma expanders, including albumin and starch-based expanders, are increasingly preferred over crystalloids in certain clinical scenarios. Colloidal expanders provide prolonged intravascular expansion due to their oncotic properties, thus making them suitable for cases of severe hypovolemia and in patients with low oncotic pressure.
• Focus on safety and adverse event profiles: The safety profile of plasma expanders has gained significant attention in recent years. Adverse events which are associated with certain plasma expanders, such as renal dysfunction and coagulation disorders, prompted healthcare professionals to reassess their usage. Manufacturers are investing in research and development to develop safer plasma expanders with minimal side effects.

Global Plasma Expander Market Restraints

• Regulatory challenges: The development, approval, and commercialization of plasma expanders involve complex regulatory frameworks. Stringent regulatory requirements, including clinical trials, safety evaluations, and compliance with quality standards, can result in lengthy approval processes and increased costs for market players. Adhering to these regulations and obtaining the necessary approvals can pose challenges and delay market entry.
• Product recalls and safety concerns: Adverse events associated with certain plasma expanders have led to product recalls and safety concerns. Reports of renal dysfunction, coagulation disorders, and allergic reactions have prompted healthcare professionals to exercise caution when using certain plasma expanders. Such safety concerns can impact the market's growth and erode consumer confidence. For instance, on October 18, 2023, American National Red Cross a organization recalled one unit of PF 24 plasma citing improper performance. The products affected by Class II recalls which may cause temporary or medically reversible adverse health consequences if used and serious harm also exists.
• Cost constraints: The cost of plasma expanders, especially those derived from human plasma, can be relatively high. This cost factor may limit their adoption, particularly in resource-constrained healthcare systems or regions with limited healthcare budgets. The availability of cost-effective alternatives, such as synthetic plasma expanders, can influence purchasing decisions and impact the market's growth.
• Limited awareness and education: Despite the importance of plasma expanders in maintaining blood volume and managing hypovolemia, there may be a lack of awareness and education among healthcare professionals. Insufficient knowledge about the appropriate use, indications, and benefits of plasma expanders can result in underutilization or inappropriate usage. Efforts to improve awareness and provide education on proper usage can help overcome this restraint.
• Counterbalance: To overcome the challenge of product recall, the manufacturing companies should standardize the manufacturing and production processes of the plasma expander to ensure product quality and stability. Also, proper awareness programs need to be carried out to provide proper education of using plasma expanders.

Figure 2. Global Plasma Expander Market Share (%), By Application, 2023

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Recent Developments

• In January 2022, Fresenius Kabi AG a pharmaceutical company expanded plasma expander manufacturing facility in Germany. The expansion increased the plant's production capacity by 30%. This allows Fresenius Kabi to better cater to the growing demand for plasma expanders and intravenous solutions in Europe and global markets.
• In March 2021, Grifols, S.A. a pharmaceutical company acquired 25 U.S.-based plasma donation centers from BPL Plasma Inc., a subsidiary of Bio Products Laboratory Holdings Limited. Grifols will immediately increase its plasma supply following the acquisition of these 25 plasma centers, which obtain a run-rate of 1 Mn liters of plasma per year.
• In July 2020, Grifols acquired GC Pharma’s plasma fractionation facility for US$460 Mn. The deal also covers two purification facilities, as well as 11 U.S.-based plasma collection centres. This acquisition expands plasma collection and fractionation capacity to enable access to plasma-derived medicines worldwide.

Top Companies in Global Plasma Expander Market

• Baxter International Inc.
• Fresenius SE & Co. KGaA
• CSL Limited
• Grifols, S.A.
• B. Braun Melsungen AG
• Hikma Pharmaceuticals PLC
• Octapharma AG
• Terumo Corporation
• JW Life Science
• Haemonetics Corporation
• Macopharma
• ADMA Biologics
• Biotest AG
• Takeda Pharmaceutical Company Limited

*Definition: Plasma expander refers to a medical product or solution which is used to replace or supplement blood plasma volume in patients who have experienced blood loss or require fluid resuscitation. It helps in maintaining blood pressure, improving circulation, and restoring fluid balance in the body. Plasma expanders are commonly used in emergency situations, surgical procedures, and critical care settings to support the cardiovascular system and prevent hypovolemia (low blood volume).