Global plasma derived medicine market is estimated to witness high growth, owing to rising prevalence of immunodeficiency disorders and growing application areas
Global Plasma Derived Medicine Market is estimated to be valued at USD 18.50 Bn in 2024, exhibiting a CAGR of 7.2% over the forecast period (2024-2031). Growing spending on healthcare globally and increasing utilization of plasma medicine can drive the market growth.
Market Dynamics:
Global plasma derived medicine market growth is driven by rising prevalence of immunodeficiency disorders as well as growing application areas of plasma derived medicines. According to Plasma Protein Therapeutics Association, approximately 2 in every 10,000 people worldwide are diagnosed with Primary Immunodeficiency (PI) every year. PI conditions are a group of more than 300 rare inherited immune disorders caused due to defects in the immune system. Plasma derived medicines are increasingly used for treating neurological disorders, hematological disorders, pulmonary diseases and many others. Growing spending on healthcare globally can also boost demand for advanced plasma derived medicines. Advancements in plasma collection and fractionation technologies have improved process efficiencies and product yields.
Growing demand for immunoglobulin as a treatment option can drive the market growth
Global plasma derived medicine market growth is driven by growing demand for immunoglobulin as a treatment option. Immunoglobulin is derived from human blood plasma and is widely used for treating a variety of immune and neurological disorders. Some key conditions where immunoglobulin therapy is effective include primary immunodeficiency, chronic inflammatory demyelinating polyneuropathy (CIDP), Guillain-Barré syndrome and others. Due to rising prevalence of such conditions globally, there has been huge demand for immunoglobulin as an effective treatment alternative.. Manufacturers are focusing on expanding immunoglobulin product portfolios and production capacities to cater to the growing needs.
Increasing adoption of coagulation factors can drive the market growth
Rising adoption of coagulation factors derived from plasma for treating bleeding and clotting disorders can drive the market growth. Some commonly used coagulation factors include Factor VIII and Factor IX, which are effective in treating hemophilia A and B. With growing diagnosis rates of hemophilia worldwide, there has been increase in utilization of plasma derived coagulation factors. Market players are investing in R&D to develop more advanced coagulation factor concentrates with improved half-life and efficacy. Rising spending on healthcare infrastructure and growing patient awareness about effective therapy options boosts the uptake of coagulation factors across regions.
Risk of virus transmission can hamper the market growth
Global plasma derived medicine market growth can be hampered due to risk of transmitting infections and viruses during the collection and processing of plasma. There have been historical instances of virus transmission such as hepatitis and HIV through plasma products. Strict regulations have been imposed to screen donors and test final products to minimize such risks. However, possibility of transmitting unknown or emerging infections remain a key concern. This hampers widespread adoption of plasma products, especially in developing regions. Significant resources also need to be invested to ensure donor safety and product quality, increasing production costs.
Stringent regulatory guidelines hamper the market growth
Regulatory barriers pertaining to the manufacturing and supply of plasma products can hamper the market growth. Market players need to adhere to strict guidelines set by regulatory agencies like the FDA and EMA for plasma collection facilities, production processes, product testing, labeling and more. These regulations differ based on regions and periodic changes further impact the supply chain. Complying with changing guidelines increases compliance costs and administrative burdens on manufacturers. Moreover, getting regulatory approvals for new products or facilities is a lengthy and expensive process. Stringent regulatory oversight, while important from a safety perspective, introduces complexity that hampers the market growth.
Increasing investments in emerging markets present lucrative opportunities
Emerging markets can offer growth opportunities for plasma product manufacturers. Countries across Asia Pacific, Latin America, Middle East and Africa are witnessing increased investments in healthcare infrastructure and spending capabilities. This enables greater access to advanced plasma derived therapies in these regions. Moreover, rapidly growing patient populations suffering from indications like immunodeficiency and bleeding disorders create stable demand channels. Market players can tap into these opportunities through regional manufacturing facilities, effective distribution networks and focused clinical education programs. Penetrating emerging markets allows achieving geographical revenue diversification and higher growth prospects.
New product launches and line extensions can boost market growth
With continuous R&D investments, manufacturers are coming up with newer formulations, delivery solutions and indications for existing plasma products. This opens up avenues to launch new plasma derived therapies or line extensions of current brands. Some new product opportunities include specialty or orphan disease focused therapies, extended half-life versions of existing products and subcutaneous administration formats. Successful launches expand the served patient pool as well as attract new customers and revenues. Companies are likely to rapidly introduce groundbreaking products to gain competitive advantages in the plasma medicine industry. Constant new product rollouts ensure sustainable growth momentum for market participants in the near future.
Link - https://www.coherentmarketinsights.com/market-insight/plasma-derived-medicine-market-4929
Key Developments:
- In June 2024, Takeda announced its plan to expand its Los Angeles plasma-derived therapies production facility with a US$ 230 million investment, marking one of its largest manufacturing expansions. This project, which will create over 125 new jobs, aims to enhance production capacity at Takeda's largest fractionation site globally. The expansion will support the growing demand for therapies for rare, chronic, and genetic diseases, ensuring a reliable supply of treatments and aligning with Takeda’s commitment to patient care, sustainable growth, and investment in key business areas.
- In July 2020, Grifols, a leading producer of plasma-derived medicines, signed an agreement with GC Pharma to acquire a plasma fractionation facility in Montreal, along with 11 plasma collection centers in the U.S. and two purification facilities. This strategic acquisition enhanced Grifols' market revenue and reinforced its leading position in the industry.
Key Player:
CSL Behring, Takeda Pharmaceutical Company Limited, Grifols, S.A., Octapharma AG, Kedrion Biopharma, LFB S.A., ADMA Biologics, Inc., Bio Products Laboratory Ltd., China Biologic Products Holdings, Inc., Shanghai RAAS Blood Products Co., Ltd., HemaCare Corporation, Sanquin Blood Supply Foundation, Biotest AG, Emergent BioSolutions Inc., Medac GmbH, Scripps Laboratories, BPL (Bio Products Laboratory), Fresenius Kabi AG, and Kamada Pharmaceuticals
