Plasma Protein Therapeutics Market By Product Type, By Application, And By Region – Global Industry Analysis, Size, Share Trends, And Forecasts (2018-2023)
HYDERABAD, TELANGANA, INDIA, August 10, 2018 /EINPresswire.com/ — Plasma is the fluid content of the blood that is responsible for preventing many serious ailments attacking the human body. The proteins in the blood plasma comprise minerals, vitamins, lipids, and hormones, which are essential for clotting and fighting alien organisms invading the human immune system. They are also helpful in the control of blood pressure, whole blood viscosity and other interior activities. The liver plays a pivotal role in synthesizing almost all these proteins. Albumins, Globulins, and Fibrinogen are the most prominent plasma proteins in the human blood.
The Global Plasma Protein Therapeutics Market Size is estimated to be at USD 23935.47 Million in 2018 and is poised to reach USD 36777.04 Million by 2023 with a CAGR of 8.97%.
Plasma Protein Therapeutics refers to the drugs or medicines that can be manufactured with the aid of proteins derived from blood plasma. The therapeutics can be used to treat many chronic illnesses like neurological and blood disorders, genetic diseases, hepatitis, Rabies and many others by enhancing the immune system and the disease resistance capacity of the victims.
The increasing need for the use of Immunoglobulin along with the introduction of the new variety of plasma-derived drugs acts as a primary catalyst for the growing demand for plasma protein therapeutics. The other factors include growing geriatric population, the prevalence of chronic diseases, growing investments in the research and development of medical sciences, hassle-free technological processes for the extraction of plasma from blood, and raising awareness among people about the significance of the blood donation.
On the other hand, the implementation of strict government policies, lack of proper reimbursement procedures, issues involved in the manufacturing of biological drugs, underdeveloped medical and healthcare facilities in remote areas of developing nations, unhygienic storage facilities and other aspects may impede the expansion of the plasma protein therapeutics market internationally.
The full report provides a deep insight into the global market of plasma protein medicines including its share, size, trends, analysis, and forecast along with the accurate information of its regional presence and competitive landscape. The global plasma protein therapeutics market is divided on the basis of product type, application, and geographical regions.
Based on the product type, Immunoglobulin accounts for more than half of the total market share due to the rise of chronic and life-threatening diseases. The increasing use of immunoglobulin in the fields of hematology, neurology, rheumatology, and other genetic disorders has fueled the market expansion. Also, the need for coagulation factors in severe blood conditions like liver infections and Von Willebrand's disease offers a vast market potential for their growth in the forecast period.
Based on the application, Primary Immunodeficiency Disorders are the leading market contributors and expected to continue the same trend in the forecast period. The main reason for this segment growth is the extensive use of immunoglobulin and human albumins in many medical practices. Apart from this, the secondary Immunodeficiency disorders like malnutrition, diabetes, HIV, myeloma, and others can also aid in the promotion of the global plasma protein therapeutics market.
Based on the geographical distribution, the international market is divided into the regions of North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America with the hefty investments in research and development of the medical field, growing elderly populace, increasing blood donations and the invention of new products grabs almost 40% of global plasma proteins market followed by Europe. Various applications of this therapeutics in the field of neurology, ophthalmology, nephrology, dermatology, and others offer a high demand for the plasma protein drugs in Europe.
There only a few famous market contributors for the worldwide plasma proteins other than the new entrants in respective regions. CSL Behring is considered to be the global leader in terms of revenue followed by Octapharma, Grifols, and Baxalta. Other important market players include Kedrion, Telecris, Baxter International, Shire Plc, Chengdu Inst. and few non-profit organizations like the Red Cross. Though CSL Behring leads the world market for plasma protein medicines, Grifols has the dominating share of the alpha-1 antitrypsin and IV immunoglobulin markets.
The scope of the report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the untapped regions.
• The segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economic, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
• Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
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Source: EIN Presswire