Increase in geriatric population, rise in prevalence of rare diseases, surge in number of plasma collection centers in the majority of countries, and upsurge in the number of androgenic alopecia patients across the world drive the growth of the global plasma therapy market. On the other hand, high cost of plasma derived products impedes the growth to some extent. However, high growth potential in the emerging economies has been highly beneficial for the market growth.
The global plasma therapy market size was valued at $0.35 billion in 2020 and is projected to reach $0.69 billion by 2030 registering a CAGR of 8.50% from 2021 to 2030.
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Plasma therapy is used for treatment of many disorders such as hair loss, tendon injuries, acute injuries, post-surgical repair, and osteoarthritis and currently for treatment of COVID–19. Furthermore, several manufacturers are initiating plasma processing to tackle the spread of coronavirus across the world. Therefore, the global plasma therapy market is expected to witness significant growth during the forecast period.
Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, growth of the plasma therapy market is driven by rise in prevalence of life-threatening diseases, which includes various neurological system disorders such as chronic inflammatory demyelinating polyneuropathy (CIPD), idiopathic thrombocytopenic purpura (ITP), and multifocal motor neuropathy (MMN) is anticipated to augment growth of the global plasma therapy market.
Plasma therapy is used for treatment of many disorders such as hair loss, tendon injuries, acute injuries, post-surgical repair, and osteoarthritis and currently for treatment of COVID–19. Furthermore, several manufacturers are initiating plasma processing to tackle the spread of coronavirus across the world. Therefore, the global plasma therapy market is expected to witness significant growth during the forecast period.
COVID-19 scenario-
- Plasma from the blood of a patient who recovered from the COVID-19 is used for treatment of another patient suffering from COVID-19. Convalescent plasma can potentially develop as an effective treatment option to battle against the pandemic. This way, increase in demand for plasma derived immunoglobulins has driven the market growth of the plasma therapy market.
- This trend is quite likely to continue till the pandemic is completely gone.
Key Findings Of The Study
- Based on type, the pure platelet-rich plasma segment held largest share in the global plasma therapy market in 2020.
- On the basis of application, the orthopedics held largest market share in 2020 and is expected to remain dominant throughout the forecast period.
- On the basis of end user, the hospitals held largest market share in 2020 and is expected to remain dominant throughout the forecast period.
- Based on region, North America is expected to experience growth at the highest rate, registering a CAGR of 7.20 % during the forecast period
North America is projected to account for a major share of the global plasma therapy market during the forecast period. The market in the region is anticipated to grow in the future, owing to the increase in research and developments made by government and private sectors. Asia-Pacific is also set to have a considerable growth, owing to increased population and rise in awareness for blood donation. Increase in number of hospitals & clinics and presence of advanced plasma therapies propel the market during the forecast period.
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Key players in the industry-
- Regen Lab SA
- Zimmer Biomet
- MTF Biologics
- Arthrex
- Terumo Corporation
- Exactech, Inc.
- Ony Biotech Inc.
- Johnson & Johnson (DePuy Synthes)
- Pfizer Inc.
- Teva Pharmaceutical Industries Ltd.
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