Global Plasma Therapy Market, By Type (Pure PRP, Leucocyte-rich PRP, Pure Platelet-rich Fibrin (PRF), and Leukocyte-rich Fibrin (L-PRF)), By Application (Infections Diseases, Dental, Nerve Injury, Cardiac Muscle Injury, and Other Applications), By End-User (Hospitals & Clinics, Research Institutes, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 334.5 Mn in 2023 and is expected to exhibit a CAGR of 14.2% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The geriatric population is increasing rapidly, globally. This population group is highly susceptible to different types of age-related diseases such as Parkinson's disease, mental health disorders, and others. For instance, according to the Report of the Technical Group on Population Projections for India and States 2011-2036- a technical Group, constituted by the National Commission on Population (NCP), there were nearly 138 million elderly persons in India in 2021 (67 million males and 71 million females) and this population was further expected to increase by around 56 million elderly persons in 2031.
Global Plasma Therapy 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.
COVID-19 had a positive impact on the global plasma therapy market. According to the World Health Organization (WHO), on August 31, 2020, 261,790 people were infected by the coronavirus and 850,762 people died from the infection. Therefore, the rapidly increasing number of infected people led government of many countries to encourage plasma donation from patients who had recovered from the illness. For instance, on 2nd June 2020, The Pentagon- the military headquarters of the U.S., launched a drive to collect plasma from the military personnel who had recovered from the infection.
Global Plasma Therapy Market: Key Developments
Strategies like investments in manufacturing sites to develop new drug treatments can increase the reach of the products and this is expected to boost market growth during the forecast period.
For instance, on July 15, 2023, Takeda Pharmaceutical Company Limited, a Japan-based multinational pharmaceutical company, announced that through its investment of approximately US$ 673 Mn, it plans to build a new manufacturing facility for plasma-derived therapies (PDTs) in Osaka, Japan.
Browse 33 Market Data Tables and 34 Figures spread through 155 Pages and in-depth TOC on “Global Plasma Therapy Market, By Type (Pure PRP, Leucocyte-rich PRP, Pure Platelet-rich Fibrin (PRF), and Leukocyte-rich Fibrin (L-PRF)), By Application (Infections Diseases, Dental, Nerve Injury, Cardiac Muscle Injury, and Other Applications), By End-User (Hospitals & Clinics, Research Institutes, 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/market-insight/plasma-therapy-market-4155
Key Takeaways of the Global Plasma Therapy Market :
- The global plasma therapy market is expected to exhibit a CAGR of 14.2% during the forecast period. Many groups and firms are coming together to increase awareness among the population about plasma donation. These factors are expected to favor the growth of the global plasma therapy market. On 26th March 2020, several medical and research institutions, blood donation centers, life science companies, technology companies, philanthropic organizations, and COVID-19 survivor groups collaborated in order to initiate a campaign, “The Fight Is In Us” to seek patients recovered from coronavirus infection for donation of plasma. The plasma consists of antibodies that have fought the infection and thus, will be available as a treatment option for seriously infected patients in the absence of any vaccine or drugs.
- Among type, Pure PRP segment is expected to grow in the global plasma therapy market over the forecast period. This is because of the medical and pharmacological advantages offered by Pure PRP. For instance, according to a study published on Februuary 2021, in the Nature, a multidisciplinary science journal, application of PRP with absolute counts of 10 billion platelets in a volume of 8 ml provides significant potential chondro-protection and alleviates symptoms when compared to controlled group in knee osteoarthritis. This study conducted and was ethically approved by the Institutional Committee for Stem Cell Research and Therapy in Uttarakhand, India.
- Among region, North America is expected to be the dominant region in the global plasma therapy market, owing to the increasing prevalence of infectious diseases in this region. According to a report published in January 2021, by The Centers for Disease Control and Prevention (CDC), the national public health agency of the U.S., of the prevalence of infectious diseases like tuberculosis stands at 8,916 casws, salmonella at 58,371 cases, Lyme disease at 34,945 cases and meningococcal disease 371 cases in the U.S. 2020.
- Major players operating in the global plasma therapy market include Octapharma AG, Top Bio Group Co., Ltd, Bio Products Laboratory Ltd, Kedrion S.p.A, Grifols, S.A, CSL, Biotest AG, Takeda Pharmaceutical Company Limited, DePuy Synthes (A subsidiary of Johnson & Johnson Services, Inc.), Regen Lab SA, LFB S.A, ImmunoTek Plasma.
