Market Size of Plasma Fractionation Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 34.90 Billion |
Market Size (2029) | USD 48.55 Billion |
CAGR (2024 - 2029) | 6.82 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Plasma Fractionation Market Analysis
The Plasma Fractionation Market size is estimated at USD 34.90 billion in 2024, and is expected to reach USD 48.55 billion by 2029, growing at a CAGR of 6.82% during the forecast period (2024-2029).
During COVID-19, the convalescent plasma demand increased, as the doctors initially treated the patients affected by the virus with convalescent plasma. For instance, according to an article published by frontiers in June 2021, convalescent plasma was widely used worldwide to treat patients hospitalized with coronavirus and prevent disease progression. Studies revealed that convalescent plasma transfusion contributes to improved symptomatology and viral clearance. Thus, there was an increasing need for plasma fractions to treat the COVID-19 patient initially. As the pandemic has subsided and fewer people are getting infected with the virus, the studied market is expected to have stable growth during the forecast period of the study.
Specific factors driving the market growth include the growing use of immunoglobulins in various therapeutic areas, the rising geriatric population coupled with rising in the prevalence of rare diseases, and the increasing number of plasma collection centers across the globe. For instance, according to the WHO facts of October 2022, the global population proportion aged 60 and up will nearly double by 2050. By 2050, 80% of the world's elderly will live in low- and middle-income countries and are also said to be aging much faster than in the past. Hence, with the rising geriatric population, the burden of rare diseases is also expected to increase worldwide, increasing the adoption of plasma fractionation products and thus driving the growth of the studied market. Furthermore, according to an article updated by NCBI in August 2022, Von Willebrand's disease is estimated to affect approximately 1% of the population globally. Still, clinically significant disease prevalence is estimated to be about 125 per million, with severe disease affecting up to five per million. Hence, the rising geriatric population coupled with the increasing burden of rare diseases like Von Willebrand is anticipated to drive the demand for plasma fractionation products, thereby boosting the market growth.
Moreover, the increasing number of plasma collection centers around the globe is also a significant factor in the growth of the studied market. For instance, in April 2022, Bio Products Laboratory Ltd (BPL), a leading manufacturer of plasma-derived protein therapies, opened its 29th plasma donation center. Furthermore, in October 2022, Freedom Plasma opened its fourth plasma donation center in Ohio, US. Hence, opening new plasma centers worldwide is expected to increase the production of plasma-based products, thus enhancing market growth.
Additionally, various activities by the key market players, such as product launches, partnerships, mergers, and acquisitions to bring technologically advanced plasma fractionation techniques and products into the market, are anticipated to boost the market. For instance, in January 2022, Octapharma received approval for expanding the indications of cutaquig in the European Union (EU). Cutaquig is a human immunoglobulin for subcutaneous administration. It provides flexible treatment options to many patients with acquired immune deficiencies.
Thus, factors such as the growing use of immunoglobulins in various therapeutic areas, the rising geriatric population coupled with rising in the prevalence of rare diseases, the increasing number of plasma collection centers, and various activities by the key market players are anticipated to boost the market over the forecast period. However, strict regulations for handling plasma protein products, high cost, and reimbursement issues restrain the market studied.
Plasma Fractionation Industry Segmentation
As per the scope of the report, plasma fractionation is defined as the general process of separating the various components of blood plasma obtained via blood fractionation. Plasma contains multiple proteins, including immunoglobulins, albumin, and coagulation proteins. The Plasma Fractionation Market is segmented by product (immunoglobulins, platelets, coagulation factor concentrate, albumin, and other products), application (Neurology, Immunology, Hematology, and other applications), end-user (hospitals and clinics, clinical research laboratories, and other end-users), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major global regions. The report offers the value in (USD million) for the above segments.
By Product | |
Immunoglobulins | |
Platelets and Coagulation Factor Concentrates | |
Albumin | |
Other Products |
By Application | |
Neurology | |
Immunology | |
Hematology | |
Other Applications |
By End-User | |
Hospitals and Clinics | |
Clinical Research Laboratories | |
Other End-Users |
Geography | ||||||||
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Plasma Fractionation Market Size Summary
The plasma fractionation market is poised for significant growth over the forecast period, driven by several key factors. The increasing use of immunoglobulins in therapeutic areas, coupled with a rising geriatric population and the prevalence of rare diseases, is expected to propel market expansion. The demand for plasma fractions surged during the COVID-19 pandemic, highlighting the critical role of plasma in treatment protocols. Although the pandemic's impact has stabilized, the market continues to benefit from the ongoing need for plasma-derived therapies. The establishment of more plasma collection centers globally further supports market growth by enhancing the availability of plasma-based products. Additionally, strategic activities by major market players, such as product launches and partnerships, are anticipated to introduce advanced plasma fractionation techniques, contributing to the market's upward trajectory.
Regionally, North America is expected to maintain a significant share of the plasma fractionation market, supported by the presence of major industry players and robust research and development activities. The region's growth is further bolstered by the increasing prevalence of genetic diseases and a growing elderly population, which drive the demand for plasma-derived therapies. Initiatives by key market players to expand plasma collection and supply capabilities also play a crucial role in market development. The competitive landscape is characterized by the presence of several major companies, including Bio Products Laboratory, CSL Behring, and Grifols S.A., which are actively engaged in strategic partnerships and expansions to strengthen their market position. Overall, the plasma fractionation market is expected to experience steady growth, driven by a combination of demographic trends, technological advancements, and strategic industry activities.
Plasma Fractionation Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Growing Use of Immunoglobulins in Various Therapeutic Areas
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1.2.2 Rising Geriatric Population coupled with Rise in Prevalence of Rare Diseases
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1.2.3 Increasing Number of Plasma Collection Centers across the Globe
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1.3 Market Restraints
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1.3.1 Strict Regulations For the Handling of Plasma Protein Products
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1.3.2 Emergence of Recombinant Alternatives
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1.3.3 High Cost and Limited Reimbursement
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Product
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2.1.1 Immunoglobulins
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2.1.2 Platelets and Coagulation Factor Concentrates
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2.1.3 Albumin
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2.1.4 Other Products
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2.2 By Application
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2.2.1 Neurology
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2.2.2 Immunology
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2.2.3 Hematology
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2.2.4 Other Applications
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2.3 By End-User
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2.3.1 Hospitals and Clinics
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2.3.2 Clinical Research Laboratories
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2.3.3 Other End-Users
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Plasma Fractionation Market Size FAQs
How big is the Plasma Fractionation Market?
The Plasma Fractionation Market size is expected to reach USD 34.90 billion in 2024 and grow at a CAGR of 6.82% to reach USD 48.55 billion by 2029.
What is the current Plasma Fractionation Market size?
In 2024, the Plasma Fractionation Market size is expected to reach USD 34.90 billion.