Platelet and Plasma Market size worth over $7.1 Bn by 2026
Published Date: June 23, 2020 Authors: Sumant Ugalmugle, Rupali Swain
Platelet and Plasma Market size is estimated to surpass USD 7.1 Bn by 2026; according to a new research report by Global Market Insights, Inc.
Favorable reimbursement schemes in the developed economies will act as a major factor driving the market growth. European countries provide several reimbursement policies for high-priced platelet & plasma therapies for effective patient management. Surged usage of plasma for the treatment of rare diseases along with increasing incidence of liver disorders among elderly population base are some of the aspects accelerating the overall market demand for platelet and plasma.
Technological advancements will augment the market growth over forecast timeframe
Technological improvements in the therapeutic protein drug development for the treatment of life-threatening diseases have been accelerating the platelet and plasma market expansion. Various protein-engineering platform technologies including derivatization and protein conjugation are widely used to improve the protein half lifetime that augments the market demand for platelet and plasma. Similarly, innovative plasma exchange procedures such as plasmapheresis are extensively used in immune-complex diseases, as these technologies increase protein yield and purity. Therefore, such advances in protein development will favor the overall market growth for platelet and plasma. However, stringent regulatory policies for plasma collection may hinder the industry growth to some extent.
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Surging demand for minimally invasive procedures will fuel the platelets market growth
The platelet segment is anticipated to witness more than 2% CAGR during the analysis period, owing to rising blood disorders including thrombocytopenia and hemophilia. Platelets are extensively used in different surgical procedures due to their therapeutic and prophylactic advantages that surge the market demand. In addition, platelet-rich plasma is used in several orthopedic treatments including hip, knee, bone & ligament regeneration as well as shoulder among others. The elderly population base is prone to orthopedic conditions and other musculoskeletal diseases due to low bone strength and aging, thereby securing the market progression.
Browse key industry insights spread across 110 pages with 83 market data tables & 8 figures & charts from the report, “Platelet And Plasma Market Size By Component (Platelets, Plasma), By Application (Hemophilia, Thrombocytopenia, Perioperative Indications, Platelet Function Disorders, Coagulation Factor Deficiencies, Thrombotic Thrombocytopenic Purpura, Hemorrhage, Liver Disease), By Distribution Channel (Hospitals, Ambulatory Surgical Centers), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Increasing accidental injuries will favor the demand for platelet and plasma
The thrombocytopenia segment held around 40% platelet and plasma market share in 2019. Thrombocytopenia is a blood disorder that occurs when the platelet count falls below-average level. Increasing accidental injuries such as hemorrhage or traumatic brain injury will thus affect the clotting mechanism of the body and are highly prevalent in neonates and geriatric patients. Thus, increasing demand for platelet transfusion will eventually drive market growth.
Ambulatory surgical centers segment is projected to show a robust growth trajectory
Ambulatory surgical center’s segment was valued around USD 1.7 billion in 2019, owing to a surging preference towards ambulatory surgeries. Various advantages including quality treatment at an affordable price and reduced risk of hospital-acquired infection raise the patient preference towards ambulatory centers. Additionally, increasing awareness regarding platelet and plasma therapies offered in ambulatory surgical centers will further escalate the market demand.
Surging incidence of chronic disorders in European region, will foster the market expansion
Europe platelet & plasma market share is anticipated to show a lucrative 1.5% CAGR during the analysis timeframe. Platelet and plasma transfusion has become an essential medical procedure to support numerous healthcare specialties across the European region. The Plasma Protein Therapeutics Association in Europe initiated different programs to create awareness among the population regarding plasma collection and plasma protein therapies, that will propel the regional market growth. Growing geriatric population base coupled with increasing prevalence of thrombocytopenia, cardiac, liver and other chronic diseases will augment the need for platelets and plasma over coming years.
Strategic implementation by foremost market leaders will drive the industry growth
Some of the eminent players operating in the platelet and plasma market include Blood Centers of America, America’s Blood Centers, Italian Red Cross, American Red Cross, European Blood Alliance, Japanese Red Cross, Indian Red Cross, American Association of Blood Banks and South African Red Cross Society. The market players are involved into various strategic contracts including collaborations and mergers to gain momentous revenue shares in platelet and plasma business. In April 2019, OneBlood merged with Community blood center of the Carolinas Inc. This merger helped the organization to distribute more than one million blood products across South Carolina, North Carolina, Alabama, Georgia in over 250 hospitals.
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