Global Plasma Protein Therapeutic Market, by Product Type (Albumin, Immunoglobulin, Plasma-derived Factor VIII, and Others), by Application (Haemophilia, Primary Immunodeficiency Disorder (PIDD), Idiopathic Thrombocytopenic Purpura (ITP), and Others), by End User (Hospitals, Clinics, Research Laboratories, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 29.97 Bn in 2023 and is expected to exhibit a CAGR of 6.5% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key market players are focused on adopting various business development activities, such as product launches and others, which, in turn, is expected to propel the market growth over the forecast period. For instance, in May 2020, Bio Products Laboratory (BPL), a leading manufacturer of plasma-derived protein therapies, announced the U.S. launch of ALBUMINEX 5% (human albumin) solution for injection and ALBUMINEX 25% (human albumin) solution for injection, with supply immediately available. ALBUMINEX 5% and ALBUMINEX 25% are approved by the U.S. Food and Drug Administration (FDA) for the treatment of hypovolemia, ascites, and hypoalbuminemia including from burns, acute nephrosis, acute respiratory distress syndrome (ARDS), and cardiopulmonary bypass.
Global Plasma Protein Therapeutic Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of drugs from one place to another.
Lockdowns or shutdowns imposed in many countries had a negative impact on the economy of the private healthcare sector globally.
On the other hand, the COVID-19 pandemic impacted the global plasma protein therapeutic market in several ways:
- Disruption of Supply Chains: Restrictions on the movement and shutdown of plasma collection centers, particularly in the early stages of the pandemic, led to a decrease in plasma donations and subsequent supply chain disruptions
- Shift in Healthcare Priorities: With healthcare resources focused on combating the pandemic, there was a potential deprioritization of research and development for non-COVID-related treatments, including plasma protein therapeutics
- Economic Challenges: The economic downturn affected both consumers' and healthcare providers' abilities to afford and procure treatments, possibly leading to decreased demand for certain plasma protein therapies.
- Delayed Diagnoses and Treatments: The reluctance or inability of patients to visit healthcare facilities due to COVID-19 fears may have resulted in delayed or missed diagnoses and treatments, impacting the demand for plasma protein therapies
Global Plasma Protein Therapeutic Market: Key Developments
In September 2022, Grifols, a global leader in plasma-derived medicines manufacturing, announced that it has signed a pioneering long-term agreement with Canadian Blood Services, Canada’s national blood authority, to greatly increase the country’s self-sufficiency in immunoglobulin (Ig) medicines, essential plasma-protein therapies used to treat a wide range of immunodeficiencies and other medical conditions
In July 2022, Takeda, a pharmaceutical company, announced that ADVANCE-1, a randomized, placebo-controlled, double-blind Phase 3 clinical trial evaluating HYQVIA [Immune Globulin Infusion 10% (Human) with Recombinant Human Hyaluronidase] for the maintenance treatment of chronic inflammatory demyelinating polyradiculoneuropathy (CIDP), met its primary endpoint.
In April 2022, Grifols announced the completion of the acquisition of 100% of the share capital of Tiancheng (Germany) Pharmaceutical Holdings AG, a Germany-based company that holds 89.88% of the ordinary shares and 1.08% of the preferred shares of Biotest AG, a Europe-based healthcare company specialized in innovative hematology and clinical immunology.
In January 2022, Bio Products Laboratory (BPL), a healthcare company, announced that the National Medical Products Administration (NMPA) for China has granted BPL a license to market ALBUMINEX 25% product to China.
Browse 35 Market Data Tables and 34 Figures spread through 206 Pages and in-depth TOC on Global Plasma Protein Therapeutic Market, by Product Type (Albumin, Immunoglobulin, Plasma-derived Factor VIII, and Others), by Application (Haemophilia, Primary Immunodeficiency Disorder (PIDD), Idiopathic Thrombocytopenic Purpura (ITP), and Others), by End User (Hospitals, Clinics, Research Laboratories, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/industry-reports/global-plasma-protein-therapeutic-market
Key Takeaways of the Global Plasma Protein Therapeutic Market:
- The global plasma protein therapeutic market is expected to exhibit a CAGR of 6.5% during the forecast period, owing to increasing research and development activities by the market players for treatment of patients suffering from hyperimmunoglobulins. For instance, in December 2022, Biotest AG, announced The first of 20 patients has been enrolled in a clinical phase II pilot study for the treatment of chronic hepatitis B with hyperimmunoglobulins at the Hanover Medical School
- Among product type, the immunoglobulin segment in the angiography equipment is expected to be the dominant segment in the global plasma protein therapeutic market, owing to increasing product approvals from regulatory bodies. For instance, In November 2022, Biotest AG, announced that the German competent authority, the Paul-Ehrlich-Institute, had approved the new intravenous immunoglobulin Yimmugo (IgG Next Generation) in Germany.
- Among regions, North America is expected to be the dominant region in the global plasma protein therapeutic market, owing to increasing product grants from the U.S. Food and Drug Administration (FDA) by the market players. For instance, in February 2020, CSL Limited, a biotechnology company, announced that the U.S. Food and Drug Administration (FDA) had granted Privigen (Immune Globulin Intravenous (Human), 10% Liquid) orphan-drug designation as an investigational therapy in the treatment of Systemic Sclerosis (SSc). SSc is a chronic and potentially life-threatening autoimmune disorder characterized by a build-up of scar tissue (fibrosis) in the skin and other organs.
- The major players operating in the global plasma protein therapeutic market include Octapharma USA Inc., Biotest AG, Kedrion S.p.A, CSL Limited, Grifols, S.A, Takeda Pharmaceutical Company Limited., Octapharma AG, Bio Products Laboratory (BPL), Shire Plc, and Albumedix Ltd.
