Plasma Therapy Market Size, Share, Industry Trends and Forecast to 2030

Plasma Therapy Market Size & CAGR in 2021

The global plasma therapy market is expected to have a growth rate of 5.2% CAGR from 2021 to 2028, with an anticipated market size of USD 3.5 billion by 2028. Plasma therapy involves the use of plasma from the blood of recovered COVID-19 patients to treat critically ill patients. The demand for plasma therapy has surged due to the COVID-19 pandemic, leading to significant market growth.

COVID-19 Impact on the Plasma Therapy Market

The COVID-19 pandemic has had a profound impact on the plasma therapy market. With the rise in cases of COVID-19 worldwide, the demand for convalescent plasma therapy has increased significantly. Hospitals and healthcare facilities are utilizing plasma therapy as a treatment option for critically ill COVID-19 patients.

The global plasma therapy market has experienced a surge in demand for plasma products, leading to an increase in production and distribution. The availability of plasma from recovered COVID-19 patients has become crucial in the fight against the virus, driving market growth.

Plasma Therapy Dynamics

The plasma therapy market is dynamic and continuously evolving, driven by technological advancements, research initiatives, and the growing demand for innovative treatment options. The adoption of plasma therapy for various medical conditions, including COVID-19, autoimmune diseases, and neurodegenerative disorders, is fueling market growth.

Advancements in plasma processing techniques and the development of novel therapies are contributing to the expansion of the plasma therapy market. Additionally, collaborations between industry players, research institutions, and government agencies are accelerating the growth of the market.

Segments and Related Analysis

The plasma therapy market can be segmented based on product type, application, end-user, and region. Product types may include plasma-derived products, fresh frozen plasma, and convalescent plasma. Applications of plasma therapy include oncology, immunodeficiency disorders, and wound healing.

The end-users of plasma therapy products are hospitals, clinics, research laboratories, and blood banks. Regional analysis of the plasma therapy market highlights the market trends, opportunities, and challenges in key regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

By Region Analysis

North America is expected to dominate the global plasma therapy market, driven by the presence of advanced healthcare infrastructure, research facilities, and a high prevalence of chronic diseases. Europe and Asia Pacific are also significant regions contributing to market growth.

Latin America and the Middle East & Africa regions are experiencing a steady increase in the adoption of plasma therapy for various medical conditions. The expanding healthcare sector and increasing awareness about plasma therapy are driving market growth in these regions.

Key Market Players and Competitive Landscape

Prominent players in the plasma therapy market include Grifols, CSL Behring, Octapharma, Kedrion Biopharma, and Baxter International. These companies are actively engaged in research and development activities, strategic collaborations, and product launches to enhance their market presence.

The competitive landscape of the plasma therapy market is characterized by intense competition, with players focusing on offering innovative plasma products and expanding their global reach. Market players are also investing in research to develop advanced plasma therapies for various medical conditions.

Recent Happenings in the Plasma Therapy Market

In recent developments, Grifols announced the acquisition of a plasma collection center in the United States to expand its plasma supply chain. CSL Behring launched a new plasma-derived therapy for the treatment of autoimmune disorders. Octapharma introduced a novel plasma product for the management of hemophilia.

These initiatives reflect the ongoing advancements in the plasma therapy market, with key players striving to innovate and address unmet medical needs. The evolving landscape of plasma therapy presents opportunities for growth and innovation in the healthcare industry.